CDIV.TO vs. XEQT.TO
CDIV.TO (Manulife Smart Dividend ETF) and XEQT.TO (iShares Core Equity ETF Portfolio) are both exchange-traded funds - CDIV.TO is a Dividend fund actively managed by Manulife, while XEQT.TO is a Global Equities fund actively managed by iShares. Both are actively managed. Over the past 5 years, CDIV.TO returned 13.50%/yr vs 13.72%/yr for XEQT.TO. A 0.70 correlation means they provide meaningful diversification when combined. CDIV.TO charges 0.28%/yr vs 0.20%/yr for XEQT.TO.
Performance
CDIV.TO vs. XEQT.TO - Performance Comparison
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Returns By Period
In the year-to-date period, CDIV.TO achieves a 14.31% return, which is significantly higher than XEQT.TO's 12.29% return.
CDIV.TO
- 1D
- -0.55%
- 1M
- 3.71%
- YTD
- 14.31%
- 6M
- 10.66%
- 1Y
- 31.29%
- 3Y*
- 20.24%
- 5Y*
- 13.50%
- 10Y*
- —
XEQT.TO
- 1D
- -0.56%
- 1M
- 5.98%
- YTD
- 12.29%
- 6M
- 11.20%
- 1Y
- 29.24%
- 3Y*
- 21.78%
- 5Y*
- 13.72%
- 10Y*
- —
CDIV.TO vs. XEQT.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
CDIV.TO Manulife Smart Dividend ETF | 14.31% | 25.88% | 15.23% | 11.77% | -2.50% | 26.20% | 2.07% |
XEQT.TO iShares Core Equity ETF Portfolio | 12.29% | 19.47% | 24.36% | 17.25% | -11.01% | 18.94% | 1.74% |
Correlation
The correlation between CDIV.TO and XEQT.TO is 0.65, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.65 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.70 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.71 |
Correlation (All Time) Calculated using the full available price history since Nov 26, 2020 | 0.70 |
The correlation between CDIV.TO and XEQT.TO has been stable across timeframes, ranging from 0.65 to 0.71 - a consistent structural relationship.
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Return for Risk
CDIV.TO vs. XEQT.TO — Risk / Return Rank
CDIV.TO
XEQT.TO
CDIV.TO vs. XEQT.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Manulife Smart Dividend ETF (CDIV.TO) and iShares Core Equity ETF Portfolio (XEQT.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 | XEQT.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.08 | ||
| Sortino ratioReturn per unit of downside risk | -0.28 | ||
| Omega ratioGain probability vs. loss probability | 1.53 | 1.47 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 4.20 | 3.56 | +0.64 |
| Martin ratioReturn relative to average drawdown | 17.38 | 15.50 | +1.87 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| CDIV.TO | XEQT.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.61 | 2.53 | +0.08 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.13 | 1.05 | +0.08 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.40 | 0.95 | +0.45 |
Drawdowns
CDIV.TO vs. XEQT.TO - Drawdown Comparison
The maximum CDIV.TO drawdown since its inception was -16.44%, smaller than the maximum XEQT.TO drawdown of -29.74%. Use the drawdown chart below to compare losses from any high point for CDIV.TO and XEQT.TO.
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Drawdown Indicators
| CDIV.TO | XEQT.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.44% | -29.74% | +13.30% |
Max Drawdown (1Y)Largest decline over 1 year | -7.48% | -8.25% | +0.77% |
Max Drawdown (3Y)Largest decline over 3 years | -9.64% | -15.08% | +5.44% |
Max Drawdown (5Y)Largest decline over 5 years | -16.44% | -19.56% | +3.12% |
Current DrawdownCurrent decline from peak | -0.55% | -0.56% | +0.01% |
Average DrawdownAverage peak-to-trough decline | -2.83% | -4.11% | +1.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.81% | 1.89% | -0.08% |
Volatility
CDIV.TO vs. XEQT.TO - Volatility Comparison
The current volatility for Manulife Smart Dividend ETF (CDIV.TO) is 2.82%, while iShares Core Equity ETF Portfolio (XEQT.TO) has a volatility of 3.70%. This indicates that CDIV.TO experiences smaller price fluctuations and is considered to be less risky than XEQT.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 | XEQT.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.82% | 3.70% | -0.88% |
Volatility (6M)Calculated over the trailing 6-month period | 10.70% | 9.38% | +1.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.05% | 11.63% | +0.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.05% | 13.12% | -1.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.90% | 15.56% | -3.66% |
CDIV.TO vs. XEQT.TO - Expense Ratio Comparison
CDIV.TO has a 0.28% expense ratio, which is higher than XEQT.TO's 0.20% expense ratio.
Dividends
CDIV.TO vs. XEQT.TO - Dividend Comparison
CDIV.TO's dividend yield for the trailing twelve months is around 2.28%, more than XEQT.TO's 1.48% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
CDIV.TO Manulife Smart Dividend ETF | 2.28% | 3.02% | 3.41% | 3.45% | 3.41% | 2.38% | 0.07% | 0.00% |
XEQT.TO iShares Core Equity ETF Portfolio | 1.48% | 1.66% | 2.01% | 2.07% | 2.12% | 1.64% | 1.66% | 1.19% |
Frequently Asked Questions
CDIV.TO and XEQT.TO have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XEQT.TO is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XEQT.TO is cheaper with a 0.20% expense ratio, compared with 0.28% for CDIV.TO.
CDIV.TO is categorized as Dividend, while XEQT.TO is Global Equities. They also come from different issuers: Manulife and iShares. Their fees differ too: 0.28% for CDIV.TO and 0.20% for XEQT.TO.
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