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IDIV-B.TO vs. XDIV.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IDIV-B.TO vs. XDIV.TO

Last updated Jun 5, 2026

IDIV-B.TO (Manulife Smart International Dividend ETF Unhedged Units) and XDIV.TO (iShares Core MSCI Canadian Quality Dividend Index ETF) are both Dividend funds. IDIV-B.TO is actively managed, while XDIV.TO is passively managed. Over the past 3 years, IDIV-B.TO returned 20.85%/yr vs 23.53%/yr for XDIV.TO. At a 0.31 correlation, their price movements are largely independent. IDIV-B.TO charges 0.55%/yr vs 0.11%/yr for XDIV.TO.

Performance

IDIV-B.TO vs. XDIV.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 iShares Core MSCI Canadian Quality Dividend Index ETF (XDIV.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, IDIV-B.TO achieves a 11.80% return, which is significantly lower than XDIV.TO's 20.26% return.

IDIV-B.TO

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

XDIV.TO

1D
0.91%
1M
3.66%
YTD
20.26%
6M
19.53%
1Y
40.50%
3Y*
23.53%
5Y*
16.63%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)2025202420232022
IDIV-B.TO
Manulife Smart International Dividend ETF Unhedged Units		11.80%35.22%12.85%12.28%7.59%
XDIV.TO
iShares Core MSCI Canadian Quality Dividend Index ETF		20.26%24.92%19.56%11.71%1.34%

Correlation

The correlation between IDIV-B.TO and XDIV.TO is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.39

Correlation (3Y)
Calculated over the trailing 3-year period

0.34

Correlation (All Time)
Calculated using the full available price history since Nov 11, 2022

0.31

Compare stocks, funds, or ETFs

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Manulife Smart International Dividend ETF Unhedged Units

iShares Core MSCI Canadian Quality Dividend Index ETF

Often compared with IDIV-B.TO:
IDIV-B.TO vs. FCID.TOIDIV-B.TO vs. FCCD.TOIDIV-B.TO vs. CDIV.TOIDIV-B.TO vs. CWIN.TOIDIV-B.TO vs. XDU.TOIDIV-B.TO vs. ZDIV.TOIDIV-B.TO vs. TBNK.TO
Often compared with XDIV.TO:
XDIV.TO vs. VDY.TOXDIV.TO vs. XEI.TOXDIV.TO vs. XDV.TOXDIV.TO vs. XEQT.TOXDIV.TO vs. HDIV.TOXDIV.TO vs. XIU.TOXDIV.TO vs. CDZ.TO

Return for Risk

IDIV-B.TO vs. XDIV.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: 5656
Overall Rank
IDIV-B.TO Sharpe Ratio Rank: 5353
Sharpe Ratio Rank
IDIV-B.TO Sortino Ratio Rank: 5050
Sortino Ratio Rank
IDIV-B.TO Omega Ratio Rank: 5555
Omega Ratio Rank
IDIV-B.TO Calmar Ratio Rank: 5656
Calmar Ratio Rank
IDIV-B.TO Martin Ratio Rank: 6565
Martin Ratio Rank
XDIV.TO
XDIV.TO Risk / Return Rank: 9898
Overall Rank
XDIV.TO Sharpe Ratio Rank: 9898
Sharpe Ratio Rank
XDIV.TO Sortino Ratio Rank: 9898
Sortino Ratio Rank
XDIV.TO Omega Ratio Rank: 9898
Omega Ratio Rank
XDIV.TO Calmar Ratio Rank: 9898
Calmar Ratio Rank
XDIV.TO Martin Ratio Rank: 9898
Martin Ratio Rank
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. XDIV.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 iShares Core MSCI Canadian Quality Dividend Index ETF (XDIV.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.TOXDIV.TODifference
Sharpe ratioReturn per unit of total volatility
1.77
5.17

-3.40

Sortino ratioReturn per unit of downside risk
2.41
7.63

-5.22

Omega ratioGain probability vs. loss probability

1.34

2.09

-0.75

Calmar ratioReturn relative to maximum drawdown

2.74

17.45

-14.72

Martin ratioReturn relative to average drawdown

11.59

59.31

-47.73

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. XDIV.TO - Sharpe Ratio Comparison

The current IDIV-B.TO Sharpe Ratio is 1.77, which is lower than the XDIV.TO Sharpe Ratio of 5.17. The chart below compares the historical Sharpe Ratios of IDIV-B.TO and XDIV.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.

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Sharpe Ratios by Period

IDIV-B.TOXDIV.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.77

5.17

-3.40

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

1.59

—

Sharpe Ratio (All Time)

Calculated using the full available price history

1.61

0.82

+0.79

Drawdowns

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

The maximum IDIV-B.TO drawdown since its inception was -13.62%, smaller than the maximum XDIV.TO drawdown of -41.30%. Use the drawdown chart below to compare losses from any high point for IDIV-B.TO and XDIV.TO.

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Drawdown Indicators

IDIV-B.TOXDIV.TODifference

Max Drawdown

Largest peak-to-trough decline

-13.62%

-41.30%

+27.68%

Max Drawdown (1Y)

Largest decline over 1 year

-10.03%

-2.33%

-7.70%

Max Drawdown (3Y)

Largest decline over 3 years

-13.62%

-10.53%

-3.09%

Max Drawdown (5Y)

Largest decline over 5 years

—

-17.60%

—

Current Drawdown

Current decline from peak

-2.08%

0.00%

-2.08%

Average Drawdown

Average peak-to-trough decline

-1.72%

-4.25%

+2.53%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.37%

0.68%

+1.69%

Volatility

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

Manulife Smart International Dividend ETF Unhedged Units (IDIV-B.TO) has a higher volatility of 5.11% compared to iShares Core MSCI Canadian Quality Dividend Index ETF (XDIV.TO) at 2.81%. This indicates that IDIV-B.TO's price experiences larger fluctuations and is considered to be riskier than XDIV.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IDIV-B.TOXDIV.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

5.11%

2.81%

+2.30%

Volatility (6M)

Calculated over the trailing 6-month period

13.27%

6.37%

+6.90%

Volatility (1Y)

Calculated over the trailing 1-year period

15.49%

7.89%

+7.60%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.06%

10.53%

+3.53%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

14.06%

16.00%

-1.94%

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

IDIV-B.TO has a 0.55% expense ratio, which is higher than XDIV.TO's 0.11% expense ratio.

Dividends

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

IDIV-B.TO's dividend yield for the trailing twelve months is around 2.77%, less than XDIV.TO's 3.26% yield.

PositionTTM202520242023202220212020201920182017
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%
XDIV.TO
iShares Core MSCI Canadian Quality Dividend Index ETF		3.26%3.81%4.29%4.20%3.95%3.58%4.58%4.02%4.85%1.82%

Frequently Asked Questions

IDIV-B.TO and XDIV.TO have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, XDIV.TO is cheaper at 0.11% per year. The better choice depends on whether you care most about return, fees, risk, or income.

XDIV.TO is cheaper with a 0.11% expense ratio, compared with 0.55% for IDIV-B.TO.

They also come from different issuers: Manulife and iShares. Their fees differ too: 0.55% for IDIV-B.TO and 0.11% for XDIV.TO.

Portfolio Optimizer

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