CUD.TO vs. CDIV.TO
CUD.TO (iShares US Dividend Growers Index ETF (CAD-Hedged)) and CDIV.TO (Manulife Smart Dividend ETF) are both exchange-traded funds - CUD.TO is a Large Cap Value Equities fund tracking the S&P High Yield Dividend Aristocrats CAD Hedged Index, while CDIV.TO is a Dividend fund actively managed by Manulife. CUD.TO is passively managed, while CDIV.TO is actively managed. Over the past 5 years, CUD.TO returned 1.77%/yr vs 13.50%/yr for CDIV.TO. A 0.61 correlation means they provide meaningful diversification when combined. CUD.TO charges 0.66%/yr vs 0.28%/yr for CDIV.TO.
Performance
CUD.TO vs. CDIV.TO - Performance Comparison
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Returns By Period
In the year-to-date period, CUD.TO achieves a 5.32% return, which is significantly lower than CDIV.TO's 14.31% return.
CUD.TO
- 1D
- -0.28%
- 1M
- -0.09%
- YTD
- 5.32%
- 6M
- 1.10%
- 1Y
- 4.69%
- 3Y*
- 5.56%
- 5Y*
- 1.77%
- 10Y*
- 5.98%
CDIV.TO
- 1D
- -0.55%
- 1M
- 3.71%
- YTD
- 14.31%
- 6M
- 10.66%
- 1Y
- 31.29%
- 3Y*
- 20.24%
- 5Y*
- 13.50%
- 10Y*
- —
CUD.TO vs. CDIV.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
CUD.TO iShares US Dividend Growers Index ETF (CAD-Hedged) | 5.32% | 1.72% | 6.13% | 0.09% | -2.31% | 18.87% | -0.45% |
CDIV.TO Manulife Smart Dividend ETF | 14.31% | 25.88% | 15.23% | 11.77% | -2.50% | 26.20% | 2.07% |
Correlation
The correlation between CUD.TO and CDIV.TO is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.48 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.56 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.63 |
Correlation (All Time) Calculated using the full available price history since Nov 26, 2020 | 0.61 |
The correlation between CUD.TO and CDIV.TO shifts across timeframes, from 0.48 (1 year) to 0.63 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
CUD.TO vs. CDIV.TO — Risk / Return Rank
CUD.TO
CDIV.TO
CUD.TO vs. CDIV.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares US Dividend Growers Index ETF (CAD-Hedged) (CUD.TO) and Manulife Smart Dividend ETF (CDIV.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.
| CUD.TO | CDIV.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.21 | ||
| Sortino ratioReturn per unit of downside risk | -2.58 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.53 | -0.45 |
| Calmar ratioReturn relative to maximum drawdown | 0.64 | 4.20 | -3.56 |
| Martin ratioReturn relative to average drawdown | 1.57 | 17.38 | -15.81 |
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
| CUD.TO | CDIV.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.40 | 2.61 | -2.21 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.12 | 1.13 | -1.01 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.35 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.60 | 1.40 | -0.80 |
Drawdowns
CUD.TO vs. CDIV.TO - Drawdown Comparison
The maximum CUD.TO drawdown since its inception was -38.36%, which is greater than CDIV.TO's maximum drawdown of -16.44%. Use the drawdown chart below to compare losses from any high point for CUD.TO and CDIV.TO.
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Drawdown Indicators
| CUD.TO | CDIV.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.36% | -16.44% | -21.92% |
Max Drawdown (1Y)Largest decline over 1 year | -7.34% | -7.48% | +0.14% |
Max Drawdown (3Y)Largest decline over 3 years | -15.28% | -9.64% | -5.64% |
Max Drawdown (5Y)Largest decline over 5 years | -18.06% | -16.44% | -1.62% |
Max Drawdown (10Y)Largest decline over 10 years | -38.36% | — | — |
Current DrawdownCurrent decline from peak | -4.84% | -0.55% | -4.29% |
Average DrawdownAverage peak-to-trough decline | -4.09% | -2.83% | -1.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.00% | 1.81% | +1.19% |
Volatility
CUD.TO vs. CDIV.TO - Volatility Comparison
iShares US Dividend Growers Index ETF (CAD-Hedged) (CUD.TO) and Manulife Smart Dividend ETF (CDIV.TO) have volatilities of 2.69% and 2.82%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CUD.TO | CDIV.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.69% | 2.82% | -0.13% |
Volatility (6M)Calculated over the trailing 6-month period | 8.82% | 10.70% | -1.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.74% | 12.05% | -0.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.67% | 12.05% | +2.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.20% | 11.90% | +5.30% |
CUD.TO vs. CDIV.TO - Expense Ratio Comparison
CUD.TO has a 0.66% expense ratio, which is higher than CDIV.TO's 0.28% expense ratio.
Dividends
CUD.TO vs. CDIV.TO - Dividend Comparison
CUD.TO's dividend yield for the trailing twelve months is around 1.92%, less than CDIV.TO's 2.28% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CDIV.TO Manulife Smart Dividend ETF | 2.28% | 3.02% | 3.41% | 3.45% | 3.41% | 2.38% | 0.07% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
CUD.TO iShares US Dividend Growers Index ETF (CAD-Hedged) | 1.92% | 1.99% | 1.76% | 1.96% | 1.84% | 1.98% | 2.05% | 1.65% | 2.05% | 1.44% | 1.76% | 1.72% |
Frequently Asked Questions
CUD.TO and CDIV.TO have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CDIV.TO is cheaper at 0.28% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CDIV.TO is cheaper with a 0.28% expense ratio, compared with 0.66% for CUD.TO.
CUD.TO is categorized as Large Cap Value Equities, while CDIV.TO is Dividend. They also come from different issuers: iShares and Manulife. Their fees differ too: 0.66% for CUD.TO and 0.28% for CDIV.TO.
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