IDIV-B.TO vs. XDU.TO

Last updated Jun 4, 2026

IDIV-B.TO (Manulife Smart International Dividend ETF Unhedged Units) and XDU.TO (iShares Core MSCI US Quality Dividend Index ETF) are both exchange-traded funds - IDIV-B.TO is a Dividend fund actively managed by Manulife, while XDU.TO is a Large Cap Value Equities fund tracking the Morningstar US Market TR CAD. IDIV-B.TO is actively managed, while XDU.TO is passively managed. Over the past 3 years, IDIV-B.TO returned 21.08%/yr vs 11.88%/yr for XDU.TO. At a 0.34 correlation, their price movements are largely independent. IDIV-B.TO charges 0.55%/yr vs 0.16%/yr for XDU.TO.

Performance

IDIV-B.TO vs. XDU.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 US Quality Dividend Index ETF (XDU.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 10.75% return, which is significantly lower than XDU.TO's 11.82% return.

IDIV-B.TO

• 1D: 0.00%
• 1M: 3.35%
• YTD: 10.75%
• 6M: 8.02%
• 1Y: 25.99%
• 3Y*: 21.08%
• 5Y*: —
• 10Y*: —

XDU.TO

• 1D: 0.36%
• 1M: 5.28%
• YTD: 11.82%
• 6M: 6.05%
• 1Y: 16.98%
• 3Y*: 11.88%
• 5Y*: 9.04%
• 10Y*: —

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

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

	2026 (YTD)	2025	2024	2023	2022
IDIV-B.TO Manulife Smart International Dividend ETF Unhedged Units	10.75%	35.22%	12.85%	12.28%	7.59%
XDU.TO iShares Core MSCI US Quality Dividend Index ETF	11.82%	2.42%	14.09%	3.53%	1.66%

Correlation

The correlation between IDIV-B.TO and XDU.TO is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.46
Correlation (3Y) Calculated over the trailing 3-year period	0.37
Correlation (All Time) Calculated using the full available price history since Nov 11, 2022	0.34

The correlation between IDIV-B.TO and XDU.TO shifts across timeframes, from 0.34 (all time) to 0.46 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

IDIV-B.TO vs. XDU.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: 53
IDIV-B.TO Sharpe Ratio Rank: 50
IDIV-B.TO Sortino Ratio Rank: 47
IDIV-B.TO Omega Ratio Rank: 52
IDIV-B.TO Calmar Ratio Rank: 53
IDIV-B.TO Martin Ratio Rank: 62

XDU.TO

XDU.TO Risk / Return Rank: 47
XDU.TO Sharpe Ratio Rank: 44
XDU.TO Sortino Ratio Rank: 43
XDU.TO Omega Ratio Rank: 44
XDU.TO Calmar Ratio Rank: 56
XDU.TO Martin Ratio Rank: 48

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. XDU.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 US Quality Dividend Index ETF (XDU.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	XDU.TO	Difference
Sharpe ratio: Return per unit of total volatility	1.69	1.58	+0.11
Sortino ratio: Return per unit of downside risk	2.31	2.20	+0.10
Omega ratio: Gain probability vs. loss probability	1.32	1.28	+0.04
Calmar ratio: Return relative to maximum drawdown	2.60	2.78	-0.18
Martin ratio: Return relative to average drawdown	11.03	8.23	+2.80
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. XDU.TO - Sharpe Ratio Comparison

The current IDIV-B.TO Sharpe Ratio is 1.69, which is comparable to the XDU.TO Sharpe Ratio of 1.58. The chart below compares the historical Sharpe Ratios of IDIV-B.TO and XDU.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	XDU.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.69	1.58	+0.11
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.75	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.59	0.56	+1.02

Drawdowns

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

The maximum IDIV-B.TO drawdown since its inception was -13.62%, smaller than the maximum XDU.TO drawdown of -26.12%. Use the drawdown chart below to compare losses from any high point for IDIV-B.TO and XDU.TO.

Drawdown Indicators

	IDIV-B.TO	XDU.TO	Difference
Max Drawdown Largest peak-to-trough decline	-13.62%	-26.12%	+12.50%
Max Drawdown (1Y) Largest decline over 1 year	-10.03%	-6.13%	-3.90%
Max Drawdown (3Y) Largest decline over 3 years	-13.62%	-16.69%	+3.07%
Max Drawdown (5Y) Largest decline over 5 years	—	-16.69%	—
Current Drawdown Current decline from peak	-3.00%	-0.49%	-2.51%
Average Drawdown Average peak-to-trough decline	-1.72%	-3.87%	+2.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.36%	2.07%	+0.29%

Volatility

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

Manulife Smart International Dividend ETF Unhedged Units (IDIV-B.TO) has a higher volatility of 5.14% compared to iShares Core MSCI US Quality Dividend Index ETF (XDU.TO) at 2.73%. This indicates that IDIV-B.TO's price experiences larger fluctuations and is considered to be riskier than XDU.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IDIV-B.TO	XDU.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.14%	2.73%	+2.41%
Volatility (6M) Calculated over the trailing 6-month period	13.24%	8.39%	+4.85%
Volatility (1Y) Calculated over the trailing 1-year period	15.48%	10.83%	+4.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.06%	12.08%	+1.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.06%	14.91%	-0.85%

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

IDIV-B.TO has a 0.55% expense ratio, which is higher than XDU.TO's 0.16% expense ratio.

Dividends

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

IDIV-B.TO's dividend yield for the trailing twelve months is around 2.80%, more than XDU.TO's 2.25% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
IDIV-B.TO Manulife Smart International Dividend ETF Unhedged Units	2.80%	3.02%	3.49%	1.73%	0.20%	0.00%	0.00%	0.00%	0.00%	0.00%
XDU.TO iShares Core MSCI US Quality Dividend Index ETF	2.25%	2.46%	2.12%	2.31%	2.05%	2.06%	2.72%	2.31%	2.27%	1.27%

Frequently Asked Questions

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

IDIV-B.TO and XDU.TO have a correlation of 0.46, 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 XDU.TO?

On fees, XDU.TO is cheaper at 0.16% 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 XDU.TO?

XDU.TO is cheaper with a 0.16% expense ratio, compared with 0.55% for IDIV-B.TO.

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

IDIV-B.TO is categorized as Dividend, while XDU.TO is Large Cap Value Equities. They also come from different issuers: Manulife and iShares. Their fees differ too: 0.55% for IDIV-B.TO and 0.16% for XDU.TO.