VS
iShares ESG Canadian Aggregate Bond Index ETF (XSAB) and Manulife Smart Corporate Bond ETF (CBND) offer distinct profiles for Canadian ETF investors. A direct comparison shows that XSAB focuses its top 3 sector exposures on Sovereign, Municipal, and Finance, while CBND leans towards Finance, Municipal, and Utilities. When evaluating costs, XSAB features a management fee (MER) of 0.15%, compared to 0.24% for CBND. Performance-wise, XSAB has returned 0.2% year-to-date with +$27 M in net flows, whereas CBND is at 0.59% with +$116 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
XSAB
CBND
| AuM | $238.90 M | $330.17 M |
| Management Fees | 0.15% | 0.24% |
| Exp. ratio | 0.17% | 0.27% |
| Tracking Difference | - | - |
Historical performance and flows
As of September 1, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | XSAB | -0.92% | -1.31% | +0.20% | +2.08% | +12.26% |
CBND | -0.94% | -1.27% | +0.59% | +2.26% | +18.83% | |
| Flows | XSAB | -$0 M | +$7 M | +$27 M | +$44 M | +$119 M |
CBND | +$21 M | +$68 M | +$116 M | +$134 M | +$257 M |
XSAB vs CBND exposure
Countries
XSAB
Canada
95.35%
CBND
Canada
94.43%
Sectors
XSAB
Sovereign
34.76%
Municipal
28.32%
Finance
14.20%
Government Agencies
7.26%
Other
15.45%
CBND
Finance
36.79%
Municipal
35.12%
Utilities
8.67%
Other
19.42%
As of September 1, 2026
Top 10 Holdings
XSAB
Canada, Bonds 2.75% 1mar2031, CAD
1.44%
Canada, Bond 1.25 1jun2030 10Y
1.39%
Canada, Bonds 2.75% 1sep2030, CAD
1.39%
Canada, Bonds 3.25% 1dec2035, CAD
1.38%
Canada, Bonds 3.25% 1jun2036, CAD
1.38%
Canada, Bond 1.5 1jun2031 10Y
1.31%
Canada, Bonds 3.25% 1jun2035, CAD
1.29%
Canada, Bond 0.5 1oct2030 10Y
1.21%
Canada, Bond 2 1jan2051 30Y
1.18%
Canada, Bonds 2.75% 1mar2030, CAD
1.12%
CBND
Province of Quebec, 4.45% 1sep2034, CAD (B136)
2.82%
Province of Ontario, 3.8% 2dec2034, CAD (DMTN266)
2.23%
PSP Capital, 4.15% 1jun2033, CAD (G-11)
2.14%
Hydro-Quebec, 2.1% 15feb2060, CAD (JR)
2.00%
Province of Ontario, 3.6% 2jun2035, CAD
1.82%
Brookfield Infrastructure Finance ULC, 5.616% 14nov2027, CAD (11)
1.81%
CDP Financial, 3.7% 8mar2028, CAD (13)
1.64%
CPPIB Capital, 4% 2jun2035, CAD (72)
1.38%
Canada Pension Plan Investment Board, 3% 15jun2028, CAD (8)
1.37%
Province of Ontario, 2.95% 8sep2030, CAD
1.32%
Diversification
XSAB
Total weight of top 10 holdings out of 749 total
13.08%
CBND
Total weight of top 10 holdings out of 184 total
18.52%
Characteristics
Compare
XSAB
CBND
| Provider | iShares | Manulife Investments |
| Management | Passively managed | Actively managed |
| Benchmark | Bloomberg MSCI Canadian Aggregate ESG Focus Index - USD | - |
| Replication Method | Direct (Physical) | |
| Asset Class | Fixed Income | Fixed Income |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 3.36% | 3.54% |
| Meets ESG criteria | Yes | No |
| Inception Date | March 18, 2019 | November 10, 2020 |
Frequently asked questions about XSAB and CBND
Which ETF has performed better year to date: XSAB or CBND?
As of September 1, 2026, XSAB has returned 0.20% year to date, while CBND has returned 0.59%. CBND is ahead on YTD performance.
Which ETF is larger by assets under management: XSAB or CBND?
As of September 1, 2026, XSAB manages $238.90 M in assets, while CBND manages $330.17 M. CBND is the larger fund by AUM.
How are XSAB and CBND managed?
XSAB is passively managed by iShares. It tracks the Bloomberg MSCI Canadian Aggregate ESG Focus Index - USD benchmark. CBND is actively managed by Manulife Investments. It does not track an index.
What sectors do XSAB and CBND emphasize?
XSAB is most exposed to Sovereign, Municipal, and Finance. CBND is most exposed to Finance, Municipal, and Utilities.
Which ETF is attracting more investor flows: XSAB or CBND?
Year to date, XSAB has seen +$27.13 M in net flows, compared with +$116.45 M for CBND. CBND has attracted more net investor money so far.
How do the fees of XSAB and CBND compare?
XSAB has an expense ratio of 0.17%, while CBND has an expense ratio of 0.27%.
What are the top holdings of XSAB and CBND?
XSAB's largest holdings include Canada, Bonds 2.75% 1mar2031, CAD, Canada, Bond 1.25 1jun2030 10Y, and Canada, Bonds 2.75% 1sep2030, CAD. CBND's top holdings include Province of Quebec, 4.45% 1sep2034, CAD (B136), Province of Ontario, 3.8% 2dec2034, CAD (DMTN266), and PSP Capital, 4.15% 1jun2033, CAD (G-11).
Which ETF is more diversified: XSAB or CBND?
XSAB holds 749 securities, while CBND holds 184. On holdings count, XSAB is the more diversified portfolio.
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All content on the ETF Market Canada is for your general information use only, Cboe is not responsible for any use of content by you outside this scope. In particular, the content does not constitute any form of advice, recommendation, representation, endorsement or arrangement by Cboe and is not intended to be relied upon by users in making (or refraining from making) any specific investment or other decisions.