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Mackenzie Financial Corporation (QTIP)
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BMO Short-Term US TIPS Index ETF (ZTIP)
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iShares 0-5 Year TIPS Bond Index ETF (CAD-Hedged) (XSTH)
XSTH has $102M in AUM, a real yield of 3.2%, and an MER of 0.16%. QTIP has $392M in AUM, a yield of 3.9%, and an MER of 0.17%. ZTIP has an AUM of $22M, a yield of 3.8%, and an MER of 0.17%.
XSTH is well-diversified across maturity ranges from 0 to 5 years, however, it has a heavy weighting towards the 3-5 year range. ZTIP, on the other hand is nearly equally-weighted between the 0 to 5 year range, and QTIP has ~50% of its portfolio in the 0 to 5 year range and the remaining 50% between 5 years and 20+ years. This higher allocation to the longer end of the curve has hurt QTIPs performance relative to ZTIP and XSTH. For a well-rounded TIPS ETF, we prefer XSTH here, although for exposure to the long-end of the curve for potentially higher capital appreciation, we like QTIP.