IDIV-B.TO vs. XHU.TO

Last updated Jun 5, 2026

IDIV-B.TO (Manulife Smart International Dividend ETF Unhedged Units) and XHU.TO (iShares U.S. High Dividend Equity Index ETF) are both exchange-traded funds - IDIV-B.TO is a Dividend fund actively managed by Manulife, while XHU.TO is a Large Cap Blend Equities fund tracking the Morningstar US Market TR CAD. IDIV-B.TO is actively managed, while XHU.TO is passively managed. Over the past 3 years, IDIV-B.TO returned 20.85%/yr vs 11.29%/yr for XHU.TO. At a 0.22 correlation, their price movements are largely independent. IDIV-B.TO charges 0.55%/yr vs 0.34%/yr for XHU.TO.

Performance

IDIV-B.TO vs. XHU.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 U.S. High Dividend Equity Index ETF (XHU.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 XHU.TO's 14.37% return.

IDIV-B.TO

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

XHU.TO

• 1D: 0.36%
• 1M: 2.43%
• YTD: 14.37%
• 6M: 5.83%
• 1Y: 15.38%
• 3Y*: 11.29%
• 5Y*: 10.04%
• 10Y*: 7.81%

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

IDIV-B.TO vs. XHU.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%
XHU.TO iShares U.S. High Dividend Equity Index ETF	14.37%	-0.28%	16.64%	-1.52%	2.08%

Correlation

The correlation between IDIV-B.TO and XHU.TO is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.29
Correlation (3Y) Calculated over the trailing 3-year period	0.24
Correlation (All Time) Calculated using the full available price history since Nov 11, 2022	0.22

Return for Risk

IDIV-B.TO vs. XHU.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

XHU.TO

XHU.TO Risk / Return Rank: 37
XHU.TO Sharpe Ratio Rank: 37
XHU.TO Sortino Ratio Rank: 32
XHU.TO Omega Ratio Rank: 41
XHU.TO Calmar Ratio Rank: 36
XHU.TO Martin Ratio Rank: 39

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. XHU.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 U.S. High Dividend Equity Index ETF (XHU.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	XHU.TO	Difference
Sharpe ratio: Return per unit of total volatility	1.77	1.32	+0.46
Sortino ratio: Return per unit of downside risk	2.41	1.72	+0.68
Omega ratio: Gain probability vs. loss probability	1.34	1.26	+0.08
Calmar ratio: Return relative to maximum drawdown	2.74	1.77	+0.97
Martin ratio: Return relative to average drawdown	11.59	6.15	+5.44
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. XHU.TO - Sharpe Ratio Comparison

The current IDIV-B.TO Sharpe Ratio is 1.77, which is higher than the XHU.TO Sharpe Ratio of 1.32. The chart below compares the historical Sharpe Ratios of IDIV-B.TO and XHU.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	XHU.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.77	1.32	+0.46
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.85	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.55	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.61	0.55	+1.06

Drawdowns

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

The maximum IDIV-B.TO drawdown since its inception was -13.62%, smaller than the maximum XHU.TO drawdown of -29.94%. Use the drawdown chart below to compare losses from any high point for IDIV-B.TO and XHU.TO.

Drawdown Indicators

	IDIV-B.TO	XHU.TO	Difference
Max Drawdown Largest peak-to-trough decline	-13.62%	-29.94%	+16.32%
Max Drawdown (1Y) Largest decline over 1 year	-10.03%	-8.73%	-1.30%
Max Drawdown (3Y) Largest decline over 3 years	-13.62%	-12.53%	-1.09%
Max Drawdown (5Y) Largest decline over 5 years	—	-12.53%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-29.94%	—
Current Drawdown Current decline from peak	-2.08%	-1.48%	-0.60%
Average Drawdown Average peak-to-trough decline	-1.72%	-3.73%	+2.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.37%	2.51%	-0.14%

Volatility

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

Manulife Smart International Dividend ETF Unhedged Units (IDIV-B.TO) has a higher volatility of 5.11% compared to iShares U.S. High Dividend Equity Index ETF (XHU.TO) at 3.50%. This indicates that IDIV-B.TO's price experiences larger fluctuations and is considered to be riskier than XHU.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IDIV-B.TO	XHU.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.11%	3.50%	+1.61%
Volatility (6M) Calculated over the trailing 6-month period	13.27%	10.23%	+3.04%
Volatility (1Y) Calculated over the trailing 1-year period	15.49%	11.79%	+3.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.06%	11.89%	+2.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.06%	14.38%	-0.32%

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

IDIV-B.TO has a 0.55% expense ratio, which is higher than XHU.TO's 0.34% expense ratio.

Dividends

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

IDIV-B.TO's dividend yield for the trailing twelve months is around 2.77%, more than XHU.TO's 2.43% 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%
XHU.TO iShares U.S. High Dividend Equity Index ETF	2.43%	2.75%	2.72%	2.86%	2.63%	2.60%	3.18%	2.25%	2.52%	2.27%	2.38%	2.30%

Frequently Asked Questions

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

IDIV-B.TO and XHU.TO have a correlation of 0.29, 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 XHU.TO?

On fees, XHU.TO is cheaper at 0.34% 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 XHU.TO?

XHU.TO is cheaper with a 0.34% expense ratio, compared with 0.55% for IDIV-B.TO.

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

IDIV-B.TO is categorized as Dividend, while XHU.TO is Large Cap Blend Equities. They also come from different issuers: Manulife and iShares. Their fees differ too: 0.55% for IDIV-B.TO and 0.34% for XHU.TO.