VS
Compare iShares Conservative Strategic Fixed Income ETF (XSE) vs Mackenzie U.S. Aggregate Bond Index ETF (QUB) to find the best fit for your portfolio. XSE provides Sovereign, Finance, and Industrials exposures, while QUB is primarily weighted in Sovereign, Finance, and Technology. When evaluating costs, XSE features a management fee (MER) of 0.5%, compared to 0.15% for QUB. Performance-wise, XSE has returned 0.78% year-to-date with -$9 M in net flows, whereas QUB is at 2.22% with +$30 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
XSE
QUB
| AuM | $60.10 M | $123.17 M |
| Management Fees | 0.50% | 0.15% |
| Exp. ratio | 0.54% | 0.17% |
| Tracking Difference | - | -0.03% |
Historical performance and flows
As of September 2, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | XSE | -0.62% | -0.83% | -0.78% | +0.17% | +11.35% |
QUB | -0.94% | -1.81% | -2.22% | -0.63% | +7.70% | |
| Flows | XSE | -$3 M | -$3 M | -$9 M | -$12 M | -$97 M |
QUB | +$41 M | +$27 M | +$30 M | +$55 M | +$97 M |
XSE vs QUB exposure
Countries
XSE
USA
62.82%
Canada
22.09%
Other
15.09%
QUB
USA
77.14%
Other
11.84%
Canada
7.17%
Sectors
XSE
Sovereign
41.18%
Finance
19.20%
Other
39.62%
QUB
Sovereign
41.16%
Finance
25.40%
Other
11.84%
Other
21.61%
As of September 2, 2026
Top 10 Holdings
XSE
Canada, Bonds 3.5% 1dec2057, CAD
4.73%
Canada, Bond 2 1jan2051 30Y
3.42%
Canada, Bonds 2.75% 1dec2055, CAD
3.36%
Canada, Bond 1.75 1dec2053 30Y
2.71%
Canada, Bond 2.75 1dec2048 30Y
1.05%
Canada, Bond 3.5 1dec2045 30Y
1.03%
Canada, Bond 2.75 1dec2064 50Y
0.73%
BlackRock Cash Funds - Institutional
0.54%
USA, Notes 1.25% 30apr2028, USD (K-2028)
0.39%
Vodafone Group, 7% 4apr2079, USD
0.37%
QUB
USA, Notes 3.75% 31dec2030, USD (T-2030)
5.01%
USA, Notes 4.5% 15nov2033, USD (F-2033)
3.92%
USA, Notes 1.25% 31may2028, USD (L-2028)
3.79%
Massmutual Global Funding II, 4.95% 10jan2030, USD (2025-1)
2.55%
Ontario Teachers Pension Plan (OTPP), 2% 16apr2031, USD (1)
2.28%
USA, Notes 0.625% 15aug2030, USD (E-2030)
2.25%
US3622ABM667
2.24%
USA, Bonds 6.125% 15nov2027, USD
1.91%
USA, Notes 4.375% 15may2036, USD (C-2036)
1.88%
USA, Notes 3.875% 31dec2027, USD (AH-2027)
1.87%
Diversification
XSE
Total weight of top 10 holdings out of 15,475 total
18.33%
QUB
Total weight of top 10 holdings out of 555 total
27.69%
Characteristics
Compare
XSE
QUB
| Provider | iShares | Mackenzie Investments |
| Management | Actively managed | Passively managed |
| Benchmark | - | Solactive US Aggregate Bond Index - CAD Hedged |
| Replication Method | Direct (Physical) | |
| Asset Class | Fixed Income | Fixed Income |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 4.25% | 3.31% |
| Meets ESG criteria | No | No |
| Inception Date | September 1, 2015 | September 24, 2020 |
Frequently asked questions about XSE and QUB
Which ETF has performed better year to date: XSE or QUB?
As of September 2, 2026, XSE has returned -0.78% year to date, while QUB has returned -2.22%. XSE is ahead on YTD performance.
Which ETF is larger by assets under management: XSE or QUB?
As of September 2, 2026, XSE manages $60.10 M in assets, while QUB manages $123.17 M. QUB is the larger fund by AUM.
How are XSE and QUB managed?
XSE is actively managed by iShares. It does not track an index. QUB is passively managed by Mackenzie Investments. It tracks the Solactive US Aggregate Bond Index - CAD Hedged benchmark.
What sectors do XSE and QUB emphasize?
XSE is most exposed to Sovereign, Finance, and Industrials. QUB is most exposed to Sovereign, Finance, and Technology.
Which ETF is attracting more investor flows: XSE or QUB?
Year to date, XSE has seen -$8.74 M in net flows, compared with +$30.12 M for QUB. QUB has attracted more net investor money so far.
How do the fees of XSE and QUB compare?
XSE has an expense ratio of 0.54%, while QUB has an expense ratio of 0.17%.
What are the top holdings of XSE and QUB?
XSE's largest holdings include Canada, Bonds 3.5% 1dec2057, CAD and Canada, Bond 2 1jan2051 30Y. QUB's top holdings include USA, Notes 3.75% 31dec2030, USD (T-2030) and USA, Notes 4.5% 15nov2033, USD (F-2033).
Which ETF is more diversified: XSE or QUB?
XSE holds 7292 securities, while QUB holds 518. On holdings count, XSE is the more diversified portfolio.
Recent articles about XSE and QUB
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