IDIV-B.TO vs. VFV.TO

Last updated Jun 5, 2026

IDIV-B.TO (Manulife Smart International Dividend ETF Unhedged Units) and VFV.TO (Vanguard S&P 500 Index ETF) are both exchange-traded funds - IDIV-B.TO is a Dividend fund actively managed by Manulife, while VFV.TO is a S&P 500 fund tracking the S&P 500 Index. IDIV-B.TO is actively managed, while VFV.TO is passively managed. Over the past 3 years, IDIV-B.TO returned 20.85%/yr vs 23.71%/yr for VFV.TO. At a 0.35 correlation, their price movements are largely independent. IDIV-B.TO charges 0.55%/yr vs 0.09%/yr for VFV.TO.

Performance

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

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Manulife Smart International Dividend ETF Unhedged Units (IDIV-B.TO) and Vanguard S&P 500 Index ETF (VFV.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IDIV-B.TO achieves a 11.80% return, which is significantly lower than VFV.TO's 12.72% return.

IDIV-B.TO

• 1D: 0.95%
• 1M: 3.16%
• YTD: 11.80%
• 6M: 7.83%
• 1Y: 27.35%
• 3Y*: 20.85%
• 5Y*: —
• 10Y*: —

VFV.TO

• 1D: 0.37%
• 1M: 6.75%
• YTD: 12.72%
• 6M: 10.73%
• 1Y: 30.31%
• 3Y*: 23.71%
• 5Y*: 16.92%
• 10Y*: 16.15%

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

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

	2026 (YTD)	2025	2024	2023	2022
IDIV-B.TO Manulife Smart International Dividend ETF Unhedged Units	11.80%	35.22%	12.85%	12.28%	7.59%
VFV.TO Vanguard S&P 500 Index ETF	12.72%	12.18%	35.23%	23.23%	-1.20%

Correlation

The correlation between IDIV-B.TO and VFV.TO is 0.56, 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	0.56
Correlation (3Y) Calculated over the trailing 3-year period	0.39
Correlation (All Time) Calculated using the full available price history since Nov 11, 2022	0.35

Over the past year, IDIV-B.TO and VFV.TO have become more correlated (0.56) than their long-term average of 0.35, meaning their price movements have been converging.

Return for Risk

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

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

IDIV-B.TO

IDIV-B.TO Risk / Return Rank: 56
IDIV-B.TO Sharpe Ratio Rank: 53
IDIV-B.TO Sortino Ratio Rank: 50
IDIV-B.TO Omega Ratio Rank: 55
IDIV-B.TO Calmar Ratio Rank: 56
IDIV-B.TO Martin Ratio Rank: 65

VFV.TO

VFV.TO Risk / Return Rank: 78
VFV.TO Sharpe Ratio Rank: 83
VFV.TO Sortino Ratio Rank: 82
VFV.TO Omega Ratio Rank: 83
VFV.TO Calmar Ratio Rank: 72
VFV.TO Martin Ratio Rank: 73

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.

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

This table presents a comparison of risk-adjusted performance metrics for Manulife Smart International Dividend ETF Unhedged Units (IDIV-B.TO) and Vanguard S&P 500 Index ETF (VFV.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.

	IDIV-B.TO	VFV.TO	Difference
Sharpe ratio: Return per unit of total volatility	1.77	2.66	-0.89
Sortino ratio: Return per unit of downside risk	2.41	3.62	-1.21
Omega ratio: Gain probability vs. loss probability	1.34	1.49	-0.16
Calmar ratio: Return relative to maximum drawdown	2.74	3.53	-0.80
Martin ratio: Return relative to average drawdown	11.59	13.47	-1.89
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

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

The current IDIV-B.TO Sharpe Ratio is 1.77, which is lower than the VFV.TO Sharpe Ratio of 2.66. The chart below compares the historical Sharpe Ratios of IDIV-B.TO and VFV.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	IDIV-B.TO	VFV.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.77	2.66	-0.89
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.14	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.98	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.61	1.14	+0.47

Drawdowns

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

The maximum IDIV-B.TO drawdown since its inception was -13.62%, smaller than the maximum VFV.TO drawdown of -27.43%. Use the drawdown chart below to compare losses from any high point for IDIV-B.TO and VFV.TO.

Drawdown Indicators

	IDIV-B.TO	VFV.TO	Difference
Max Drawdown Largest peak-to-trough decline	-13.62%	-27.43%	+13.81%
Max Drawdown (1Y) Largest decline over 1 year	-10.03%	-8.62%	-1.41%
Max Drawdown (3Y) Largest decline over 3 years	-13.62%	-19.05%	+5.43%
Max Drawdown (5Y) Largest decline over 5 years	—	-22.19%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-27.43%	—
Current Drawdown Current decline from peak	-2.08%	0.00%	-2.08%
Average Drawdown Average peak-to-trough decline	-1.72%	-3.35%	+1.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.37%	2.26%	+0.11%

Volatility

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

Manulife Smart International Dividend ETF Unhedged Units (IDIV-B.TO) has a higher volatility of 5.11% compared to Vanguard S&P 500 Index ETF (VFV.TO) at 3.00%. This indicates that IDIV-B.TO's price experiences larger fluctuations and is considered to be riskier than VFV.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IDIV-B.TO	VFV.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.11%	3.00%	+2.11%
Volatility (6M) Calculated over the trailing 6-month period	13.27%	8.56%	+4.71%
Volatility (1Y) Calculated over the trailing 1-year period	15.49%	11.44%	+4.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.06%	14.91%	-0.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.06%	16.57%	-2.51%

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

IDIV-B.TO has a 0.55% expense ratio, which is higher than VFV.TO's 0.09% expense ratio.

Dividends

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

IDIV-B.TO's dividend yield for the trailing twelve months is around 2.77%, more than VFV.TO's 0.83% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IDIV-B.TO Manulife Smart International Dividend ETF Unhedged Units	2.77%	3.02%	3.49%	1.73%	0.20%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VFV.TO Vanguard S&P 500 Index ETF	0.83%	0.92%	0.99%	1.20%	1.31%	1.06%	1.33%	1.55%	1.68%	1.50%	1.66%	1.63%

Frequently Asked Questions

Can I hold both IDIV-B.TO and VFV.TO in my portfolio?

IDIV-B.TO and VFV.TO have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IDIV-B.TO or VFV.TO?

On fees, VFV.TO is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IDIV-B.TO or VFV.TO?

VFV.TO is cheaper with a 0.09% expense ratio, compared with 0.55% for IDIV-B.TO.

What is the main difference between IDIV-B.TO and VFV.TO?

IDIV-B.TO is categorized as Dividend, while VFV.TO is S&P 500. They also come from different issuers: Manulife and Vanguard. Their fees differ too: 0.55% for IDIV-B.TO and 0.09% for VFV.TO.