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Compare iShares U.S. High Yield Bond Index ETF (XHY) vs Mackenzie US High Yield Bond Index ETF (QHY) to find the best fit for your portfolio. XHY and QHY provide the same top sector exposures: Finance, Consumer Services, and Industrials. When evaluating costs, XHY features a management fee (MER) of 0.5%, compared to 0.4% for QHY. Performance-wise, XHY has returned 0.96% year-to-date with +$231 M in net flows, whereas QHY is at 0.77% with +$109 M. Use the comparison tool below to benchmark these funds across top 10 holdings, yield, sector weights and historical returns.
NAV Performance and Flows
Key Data
Compare
XHY
QHY
| AuM | $1,157.36 M | $247.41 M |
| Management Fees | 0.50% | 0.40% |
| Exp. ratio | 0.55% | 0.47% |
| Tracking Difference | -0.31% | -0.26% |
Historical performance and flows
As of September 1, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | XHY | +0.00% | +0.28% | +0.96% | +2.76% | +21.06% |
QHY | -0.48% | -0.16% | +0.77% | +2.36% | +20.40% | |
| Flows | XHY | +$6 M | +$77 M | +$231 M | +$343 M | +$784 M |
QHY | +$3 M | +$82 M | +$109 M | +$191 M | +$213 M |
XHY vs QHY exposure
Countries
XHY
USA
86.06%
Other
13.94%
QHY
USA
86.96%
Other
13.04%
Sectors
XHY
Finance
17.86%
Consumer Services
13.42%
Industrials
9.27%
Energy
8.56%
Non-Energy Materials
8.09%
Business Services
7.44%
Other
35.36%
QHY
Finance
17.22%
Consumer Services
13.62%
Industrials
11.32%
Non-Energy Materials
9.08%
Energy
7.77%
Technology
7.33%
Other
33.66%
As of September 1, 2026
Top 10 Holdings
XHY
1261229 B.C., 10% 15apr2032, USD
0.51%
Meridian Arc HoldCo, 6.25% 30apr2031, USD
0.49%
EchoStar, 10.75% 30nov2029, USD
0.44%
Cloud Software Group, 9% 30sep2029, USD
0.36%
PR RNO Property Owner 1, 6.5% 1may2031, USD
0.34%
Nexstar Media, 6.5% 15sep2033, USD
0.33%
Quikrete Holdings, 6.375% 1mar2032, USD
0.32%
Cloud Software Group, 6.5% 31mar2029, USD
0.32%
Centene, 4.625% 15dec2029, USD
0.32%
Asurion LLC, 8% 31dec2032, USD
0.31%
QHY
Hub International, 7.25% 15jun2030, USD
0.74%
Centene, 2.5% 1mar2031, USD
0.74%
TransDigm, 6.625% 1mar2032, USD
0.62%
Mozart Debt Merger Sub, 5.25% 1oct2029, USD
0.61%
Hilton Domestic Operating, 4.875% 15jan2030, USD
0.61%
Noble Finance II, 8% 15apr2030, USD
0.60%
1261229 B.C., 10% 15apr2032, USD
0.56%
Cloud Software Group, 6.5% 31mar2029, USD
0.55%
Centene, 4.625% 15dec2029, USD
0.55%
Aramark Services, 5% 1feb2028, USD
0.53%
Diversification
XHY
Total weight of top 10 holdings out of 1,332 total
3.74%
QHY
Total weight of top 10 holdings out of 1,112 total
6.09%
Characteristics
Compare
XHY
QHY
| Provider | iShares | Mackenzie Investments |
| Management | Passively managed | Passively managed |
| Benchmark | Markit iBoxx USD Liquid High Yield Index - CAD Hedged | Solactive USD High Yield Corporates Total Market Hedged to CAD TR Index - CAD |
| Replication Method | Direct (Physical) | Direct (Physical) |
| Asset Class | Fixed Income | Fixed Income |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 6.20% | 6.18% |
| Meets ESG criteria | No | No |
| Inception Date | January 21, 2010 | January 24, 2018 |
Frequently asked questions about XHY and QHY
Which ETF has performed better year to date: XHY or QHY?
As of September 1, 2026, XHY has returned 0.96% year to date, while QHY has returned 0.77%. XHY is ahead on YTD performance.
Which ETF is larger by assets under management: XHY or QHY?
As of September 1, 2026, XHY manages $1.16 B in assets, while QHY manages $247.41 M. XHY is the larger fund by AUM.
How are XHY and QHY managed?
XHY is passively managed by iShares. It tracks the Markit iBoxx USD Liquid High Yield Index - CAD Hedged benchmark. QHY is passively managed by Mackenzie Investments. It tracks the Solactive USD High Yield Corporates Total Market Hedged to CAD TR Index - CAD benchmark.
What sectors do XHY and QHY emphasize?
XHY is most exposed to Finance, Consumer Services, and Industrials. QHY is most exposed to Finance, Consumer Services, and Industrials.
Which ETF is attracting more investor flows: XHY or QHY?
Year to date, XHY has seen +$230.97 M in net flows, compared with +$108.78 M for QHY. XHY has attracted more net investor money so far.
How do the fees of XHY and QHY compare?
XHY has an expense ratio of 0.55%, while QHY has an expense ratio of 0.47%.
What are the top holdings of XHY and QHY?
XHY's largest holdings include 1261229 B.C., 10% 15apr2032, USD, Meridian Arc HoldCo, 6.25% 30apr2031, USD, and EchoStar, 10.75% 30nov2029, USD. QHY's top holdings include Hub International, 7.25% 15jun2030, USD, Centene, 2.5% 1mar2031, USD, and TransDigm, 6.625% 1mar2032, USD.
Which ETF is more diversified: XHY or QHY?
XHY holds 1325 securities, while QHY holds 1099. On holdings count, XHY is the more diversified portfolio.
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