BGU.TO vs. MULC.TO
BGU.TO (Bristol Gate Concentrated US Equity ETF) and MULC.TO (Manulife Multifactor U.S. Large Cap Index ETF Hedged) are both Large Cap Blend Equities funds. Both are actively managed. Over the past 5 years, BGU.TO returned 9.13%/yr vs 9.90%/yr for MULC.TO. At a 0.32 correlation, their price movements are largely independent.
Performance
BGU.TO vs. MULC.TO - Performance Comparison
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Returns By Period
In the year-to-date period, BGU.TO achieves a 6.46% return, which is significantly lower than MULC.TO's 9.54% return.
BGU.TO
- 1D
- -0.81%
- 1M
- 0.27%
- 6M
- 1.27%
- YTD
- 6.46%
- 1Y
- 10.49%
- 3Y*
- 12.99%
- 5Y*
- 9.13%
- 10Y*
- —
MULC.TO
- 1D
- -0.71%
- 1M
- -0.72%
- 6M
- 7.53%
- YTD
- 9.54%
- 1Y
- 18.88%
- 3Y*
- 15.72%
- 5Y*
- 9.90%
- 10Y*
- —
BGU.TO vs. MULC.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
BGU.TO Bristol Gate Concentrated US Equity ETF | 6.46% | 4.62% | 18.85% | 20.28% | -13.23% | 30.22% | 8.27% | 30.25% | 2.31% |
MULC.TO Manulife Multifactor U.S. Large Cap Index ETF Hedged | 9.54% | 13.42% | 18.78% | 18.95% | -16.59% | 27.01% | 12.62% | 30.40% | -8.01% |
Correlation
The correlation between BGU.TO and MULC.TO is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.39 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.41 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.37 |
Correlation (All Time) Calculated using the full available price history since Mar 5, 2018 | 0.32 |
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Return for Risk
BGU.TO vs. MULC.TO — Risk / Return Rank
BGU.TO
MULC.TO
BGU.TO vs. MULC.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Bristol Gate Concentrated US Equity ETF (BGU.TO) and Manulife Multifactor U.S. Large Cap Index ETF Hedged (MULC.TO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| BGU.TO | MULC.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.75 | ||
| Sortino ratioReturn per unit of downside risk | -1.18 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.31 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 0.95 | 2.28 | -1.33 |
| Martin ratioReturn relative to average drawdown | 2.64 | 10.01 | -7.37 |
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Drawdowns
BGU.TO vs. MULC.TO - Drawdown Comparison
The maximum BGU.TO drawdown since its inception was -31.66%, smaller than the maximum MULC.TO drawdown of -35.21%. Use the drawdown chart below to compare losses from any high point for BGU.TO and MULC.TO.
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Drawdown Indicators
| BGU.TO | MULC.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.66% | -35.21% | +3.55% |
Max Drawdown (1Y)Largest decline over 1 year | -11.12% | -8.32% | -2.80% |
Max Drawdown (3Y)Largest decline over 3 years | -17.03% | -18.10% | +1.07% |
Max Drawdown (5Y)Largest decline over 5 years | -25.46% | -25.00% | -0.46% |
Current DrawdownCurrent decline from peak | -2.75% | -1.44% | -1.31% |
Average DrawdownAverage peak-to-trough decline | -5.24% | -5.17% | -0.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.98% | 1.89% | +2.09% |
Volatility
BGU.TO vs. MULC.TO - Volatility Comparison
Bristol Gate Concentrated US Equity ETF (BGU.TO) has a higher volatility of 3.51% compared to Manulife Multifactor U.S. Large Cap Index ETF Hedged (MULC.TO) at 2.96%. This indicates that BGU.TO's price experiences larger fluctuations and is considered to be riskier than MULC.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BGU.TO | MULC.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.51% | 2.96% | +0.55% |
Volatility (6M)Calculated over the trailing 6-month period | 10.38% | 9.96% | +0.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.11% | 12.16% | +0.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.00% | 15.51% | +0.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.34% | 18.16% | +0.18% |
Dividends
BGU.TO vs. MULC.TO - Dividend Comparison
BGU.TO has not paid dividends to shareholders, while MULC.TO's dividend yield for the trailing twelve months is around 0.81%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
BGU.TO Bristol Gate Concentrated US Equity ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
MULC.TO Manulife Multifactor U.S. Large Cap Index ETF Hedged | 0.81% | 0.85% | 0.85% | 0.83% | 1.39% | 0.77% | 1.36% | 1.21% | 1.39% |
Frequently Asked Questions
BGU.TO and MULC.TO have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
They also come from different issuers: Bristol Gate and Manulife.
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