CDIV.TO vs. IDIV-B.TO

Last updated Apr 1, 2026

Compare and contrast key facts about Manulife Smart Dividend ETF (CDIV.TO) and Manulife Smart International Dividend ETF Unhedged Units (IDIV-B.TO).

CDIV.TO and IDIV-B.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. CDIV.TO is an actively managed fund by Manulife. It was launched on Nov 25, 2020. IDIV-B.TO is an actively managed fund by Manulife. It was launched on Nov 9, 2022.

Performance

CDIV.TO vs. IDIV-B.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Manulife Smart Dividend ETF (CDIV.TO) and Manulife Smart International Dividend ETF Unhedged Units (IDIV-B.TO). The values are adjusted to include any dividend payments, if applicable.

CDIV.TO vs. IDIV-B.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
CDIV.TO Manulife Smart Dividend ETF	8.54%	25.88%	15.23%	11.77%	-0.99%
IDIV-B.TO Manulife Smart International Dividend ETF Unhedged Units	6.45%	35.22%	12.85%	12.28%	7.59%

Returns By Period

In the year-to-date period, CDIV.TO achieves a 8.54% return, which is significantly higher than IDIV-B.TO's 6.45% return.

CDIV.TO

• 1D: 2.90%
• 1M: -2.09%
• YTD: 8.54%
• 6M: 10.63%
• 1Y: 31.83%
• 3Y*: 18.12%
• 5Y*: 14.15%
• 10Y*: —

IDIV-B.TO

• 1D: 2.68%
• 1M: -3.38%
• YTD: 6.45%
• 6M: 8.22%
• 1Y: 27.01%
• 3Y*: 19.50%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

CDIV.TO vs. IDIV-B.TO - Expense Ratio Comparison

CDIV.TO has a 0.28% expense ratio, which is lower than IDIV-B.TO's 0.55% expense ratio.

IDIV-B.TO

Manulife Smart International Dividend ETF Unhedged Units

CDIV.TO

Manulife Smart Dividend ETF

Return for Risk

CDIV.TO vs. IDIV-B.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CDIV.TO

CDIV.TO Risk / Return Rank: 94
CDIV.TO Sharpe Ratio Rank: 94
CDIV.TO Sortino Ratio Rank: 93
CDIV.TO Omega Ratio Rank: 96
CDIV.TO Calmar Ratio Rank: 93
CDIV.TO Martin Ratio Rank: 95

IDIV-B.TO

IDIV-B.TO Risk / Return Rank: 81
IDIV-B.TO Sharpe Ratio Rank: 81
IDIV-B.TO Sortino Ratio Rank: 80
IDIV-B.TO Omega Ratio Rank: 80
IDIV-B.TO Calmar Ratio Rank: 82
IDIV-B.TO Martin Ratio Rank: 84

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CDIV.TO vs. IDIV-B.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Manulife Smart Dividend ETF (CDIV.TO) and Manulife Smart International Dividend ETF Unhedged Units (IDIV-B.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.

	CDIV.TO	IDIV-B.TO	Difference
Sharpe ratio Return per unit of total volatility	2.32	1.58	+0.74
Sortino ratio Return per unit of downside risk	2.81	2.12	+0.69
Omega ratio Gain probability vs. loss probability	1.49	1.32	+0.17
Calmar ratio Return relative to maximum drawdown	3.50	2.38	+1.12
Martin ratio Return relative to average drawdown	15.02	9.91	+5.11
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CDIV.TO vs. IDIV-B.TO - Sharpe Ratio Comparison

The current CDIV.TO Sharpe Ratio is 2.32, which is higher than the IDIV-B.TO Sharpe Ratio of 1.58. The chart below compares the historical Sharpe Ratios of CDIV.TO and IDIV-B.TO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	CDIV.TO	IDIV-B.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.32	1.58	+0.74
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.19	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.35	1.59	-0.24

Correlation

The correlation between CDIV.TO and IDIV-B.TO is 0.37, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

CDIV.TO vs. IDIV-B.TO - Dividend Comparison

CDIV.TO's dividend yield for the trailing twelve months is around 1.83%, less than IDIV-B.TO's 2.64% yield.

	TTM	2025	2024	2023	2022	2021	2020
CDIV.TO Manulife Smart Dividend ETF	1.83%	3.02%	3.41%	3.45%	3.41%	2.38%	0.07%
IDIV-B.TO Manulife Smart International Dividend ETF Unhedged Units	2.64%	3.02%	3.49%	1.73%	0.20%	0.00%	0.00%

Drawdowns

CDIV.TO vs. IDIV-B.TO - Drawdown Comparison

The maximum CDIV.TO drawdown since its inception was -16.44%, which is greater than IDIV-B.TO's maximum drawdown of -13.62%. Use the drawdown chart below to compare losses from any high point for CDIV.TO and IDIV-B.TO.

Drawdown Indicators

	CDIV.TO	IDIV-B.TO	Difference
Max Drawdown Largest peak-to-trough decline	-16.44%	-13.62%	-2.82%
Max Drawdown (1Y) Largest decline over 1 year	-9.38%	-10.94%	+1.56%
Max Drawdown (5Y) Largest decline over 5 years	-16.44%	—	—
Current Drawdown Current decline from peak	-2.51%	-4.05%	+1.54%
Average Drawdown Average peak-to-trough decline	-2.90%	-1.73%	-1.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.19%	2.63%	-0.44%

Volatility

CDIV.TO vs. IDIV-B.TO - Volatility Comparison

The current volatility for Manulife Smart Dividend ETF (CDIV.TO) is 5.22%, while Manulife Smart International Dividend ETF Unhedged Units (IDIV-B.TO) has a volatility of 8.47%. This indicates that CDIV.TO experiences smaller price fluctuations and is considered to be less risky than IDIV-B.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CDIV.TO	IDIV-B.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.22%	8.47%	-3.25%
Volatility (6M) Calculated over the trailing 6-month period	10.63%	12.43%	-1.80%
Volatility (1Y) Calculated over the trailing 1-year period	13.79%	17.20%	-3.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.96%	13.95%	-1.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.93%	13.95%	-2.02%