CDIV.TO vs. MUMC.TO
CDIV.TO (Manulife Smart Dividend ETF) and MUMC.TO (Manulife Multifactor U.S. Mid Cap Index ETF Hedged) are both exchange-traded funds - CDIV.TO is a Dividend fund actively managed by Manulife, while MUMC.TO is a Mid Cap Blend Equities fund actively managed by Manulife. Both are actively managed. Over the past 5 years, CDIV.TO returned 12.33%/yr vs 6.15%/yr for MUMC.TO. At a 0.38 correlation, their price movements are largely independent.
Performance
CDIV.TO vs. MUMC.TO - Performance Comparison
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Returns By Period
In the year-to-date period, CDIV.TO achieves a 16.68% return, which is significantly higher than MUMC.TO's 10.94% return.
CDIV.TO
- 1D
- 0.46%
- 1M
- 1.00%
- 6M
- 12.70%
- YTD
- 16.68%
- 1Y
- 23.74%
- 3Y*
- 18.68%
- 5Y*
- 12.33%
- 10Y*
- —
MUMC.TO
- 1D
- -0.79%
- 1M
- -0.28%
- 6M
- 7.47%
- YTD
- 10.94%
- 1Y
- 14.50%
- 3Y*
- 11.18%
- 5Y*
- 6.15%
- 10Y*
- —
CDIV.TO vs. MUMC.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
CDIV.TO Manulife Smart Dividend ETF | 16.68% | 18.95% | 13.96% | 11.77% | -2.50% | 26.20% | 1.92% |
MUMC.TO Manulife Multifactor U.S. Mid Cap Index ETF Hedged | 10.94% | 4.82% | 13.82% | 13.06% | -17.20% | 24.09% | 4.93% |
Correlation
The correlation between CDIV.TO and MUMC.TO is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.15 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.28 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.38 |
Correlation (All Time) Calculated using the full available price history since Nov 25, 2020 | 0.38 |
Over the past year, the correlation between CDIV.TO and MUMC.TO has dropped to 0.15 - well below their long-term average of 0.38, suggesting their price drivers have been diverging.
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Return for Risk
CDIV.TO vs. MUMC.TO — Risk / Return Rank
CDIV.TO
MUMC.TO
CDIV.TO vs. MUMC.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Manulife Smart Dividend ETF (CDIV.TO) and Manulife Multifactor U.S. Mid Cap Index ETF Hedged (MUMC.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.
| CDIV.TO | MUMC.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.70 | ||
| Sortino ratioReturn per unit of downside risk | +0.57 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.17 | +0.18 |
| Calmar ratioReturn relative to maximum drawdown | 2.16 | 1.40 | +0.75 |
| Martin ratioReturn relative to average drawdown | 6.84 | 4.17 | +2.67 |
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Drawdowns
CDIV.TO vs. MUMC.TO - Drawdown Comparison
The maximum CDIV.TO drawdown since its inception was -16.44%, smaller than the maximum MUMC.TO drawdown of -38.47%. Use the drawdown chart below to compare losses from any high point for CDIV.TO and MUMC.TO.
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Drawdown Indicators
| CDIV.TO | MUMC.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.44% | -38.47% | +22.03% |
Max Drawdown (1Y)Largest decline over 1 year | -11.05% | -10.38% | -0.67% |
Max Drawdown (3Y)Largest decline over 3 years | -11.05% | -21.77% | +10.72% |
Max Drawdown (5Y)Largest decline over 5 years | -16.44% | -24.62% | +8.18% |
Current DrawdownCurrent decline from peak | -0.10% | -1.78% | +1.68% |
Average DrawdownAverage peak-to-trough decline | -3.03% | -6.49% | +3.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.48% | 3.49% | -0.01% |
Volatility
CDIV.TO vs. MUMC.TO - Volatility Comparison
Manulife Smart Dividend ETF (CDIV.TO) has a higher volatility of 3.91% compared to Manulife Multifactor U.S. Mid Cap Index ETF Hedged (MUMC.TO) at 3.17%. This indicates that CDIV.TO's price experiences larger fluctuations and is considered to be riskier than MUMC.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CDIV.TO | MUMC.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.91% | 3.17% | +0.74% |
Volatility (6M)Calculated over the trailing 6-month period | 9.80% | 10.51% | -0.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.76% | 17.94% | -2.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.87% | 18.58% | -5.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.58% | 19.45% | -6.87% |
Dividends
CDIV.TO vs. MUMC.TO - Dividend Comparison
CDIV.TO's dividend yield for the trailing twelve months is around 2.47%, more than MUMC.TO's 0.81% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
CDIV.TO Manulife Smart Dividend ETF | 2.47% | 3.19% | 3.45% | 3.45% | 3.41% | 2.38% | 0.07% | 0.00% | 0.00% | 0.00% |
MUMC.TO Manulife Multifactor U.S. Mid Cap Index ETF Hedged | 0.81% | 1.00% | 0.70% | 1.05% | 0.86% | 0.63% | 0.90% | 0.90% | 1.19% | 0.73% |
Frequently Asked Questions
CDIV.TO and MUMC.TO have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CDIV.TO is categorized as Dividend, while MUMC.TO is Mid Cap Blend Equities.
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