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Compare BMO High Yield US Corporate Bond Hedged to CAD Index ETF (ZHY) vs Mackenzie US High Yield Bond Index ETF (QHY) to find the best fit for your portfolio. ZHY provides Finance, Industrials, and Energy exposures, while QHY is primarily weighted in Finance, Consumer Services, and Industrials. When evaluating costs, ZHY features a management fee (MER) of 0.55%, compared to 0.4% for QHY. Performance-wise, ZHY has returned 1.49% year-to-date with +$150 M in net flows, whereas QHY is at 1.59% with +$203 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
ZHY
QHY
| AuM | $1,498.33 M | $331.68 M |
| Management Fees | 0.55% | 0.40% |
| Exp. ratio | 0.61% | 0.47% |
| Tracking Difference | -0.64% | -0.41% |
Historical performance and flows
As of November 2, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | ZHY | +0.34% | -2.40% | -1.49% | -0.41% | +17.91% |
QHY | -0.23% | -2.81% | -1.59% | -0.62% | +17.27% | |
| Flows | ZHY | +$34 M | +$39 M | +$150 M | +$304 M | +$642 M |
QHY | +$22 M | +$97 M | +$203 M | +$254 M | +$307 M |
ZHY vs QHY exposure
Countries
ZHY
USA
88.47%
Other
11.53%
QHY
USA
86.32%
Other
13.68%
Sectors
ZHY
Finance
18.65%
Industrials
12.33%
Energy
10.81%
Consumer Services
9.13%
Non-Energy Materials
8.64%
Business Services
7.97%
Other
32.48%
QHY
Finance
16.98%
Consumer Services
14.01%
Industrials
10.77%
Energy
9.01%
Non-Energy Materials
7.88%
Other
41.35%
As of November 2, 2026
Top 10 Holdings
ZHY
CA05584J1012
102.40%
QHY
SM Energy, 6.5% 15jul2028, USD
0.86%
Entegris, 4.375% 15apr2028, USD
0.68%
Nissan Motor, 4.81% 17sep2030, USD
0.64%
CCO Holdings, 6.375% 1sep2029, USD
0.63%
Energizer Holdings, 4.75% 15jun2028, USD
0.60%
Fertitta Entertainment, 4.625% 15jan2029, USD
0.59%
Newell Brands, 8.5% 1jun2028, USD
0.57%
Triton Water Holdings, 6.25% 1apr2029, USD
0.56%
Hub International, 7.25% 15jun2030, USD
0.55%
Centene, 2.5% 1mar2031, USD
0.55%
Diversification
ZHY
Total weight of top 10 holdings out of 1,041 total
102.40%
QHY
Total weight of top 10 holdings out of 1,128 total
6.23%
Characteristics
Compare
ZHY
QHY
| Provider | BMO | Mackenzie Investments |
| Management | Passively managed | Passively managed |
| Benchmark | Bloomberg Capital U.S. High Yield Very Liquid CAD Hedged Total Return Index - CAD | Solactive USD High Yield Corporates Total Market Hedged to CAD TR Index - CAD |
| Replication Method | Other | Direct (Physical) |
| Asset Class | Fixed Income | Fixed Income |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 6.85% | 6.30% |
| Meets ESG criteria | No | No |
| Inception Date | October 20, 2009 | January 24, 2018 |
Frequently asked questions about ZHY and QHY
Which ETF has performed better year to date: ZHY or QHY?
As of November 2, 2026, ZHY has returned -1.49% year to date, while QHY has returned -1.59%. ZHY is ahead on YTD performance.
Which ETF is larger by assets under management: ZHY or QHY?
As of November 2, 2026, ZHY manages $1.50 B in assets, while QHY manages $331.68 M. ZHY is the larger fund by AUM.
How are ZHY and QHY managed?
ZHY is passively managed by BMO. It tracks the Bloomberg Capital U.S. High Yield Very Liquid CAD Hedged Total Return Index - CAD 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.
Which ETF is more diversified: ZHY or QHY?
ZHY holds 1 securities, while QHY holds 1106. On holdings count, QHY is the more diversified portfolio.
Which ETF is attracting more investor flows: ZHY or QHY?
Year to date, ZHY has seen +$149.60 M in net flows, compared with +$203.01 M for QHY. QHY has attracted more net investor money so far.
How do the fees of ZHY and QHY compare?
ZHY has an expense ratio of 0.61%, while QHY has an expense ratio of 0.47%.
What sectors do ZHY and QHY emphasize?
ZHY is most exposed to Finance, Industrials, and Energy. QHY is most exposed to Finance, Consumer Services, and Industrials.
Recent articles about ZHY and QHY
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