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MCLC.TO vs. MUMC.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

MCLC.TO vs. MUMC.TO

Last updated Jul 16, 2026
Documentation

MCLC.TO (Manulife Multifactor Canadian Large Cap Index ETF) and MUMC.TO (Manulife Multifactor U.S. Mid Cap Index ETF Hedged) are both exchange-traded funds - MCLC.TO is a Canada Equities fund actively managed by Manulife, while MUMC.TO is a Mid Cap Blend Equities fund actively managed by Manulife. Both are actively managed. Over the past 5 years, MCLC.TO returned 15.29%/yr vs 6.15%/yr for MUMC.TO. At a 0.20 correlation, their price movements are largely independent.

Performance

MCLC.TO vs. MUMC.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Manulife Multifactor Canadian Large Cap Index ETF (MCLC.TO) and Manulife Multifactor U.S. Mid Cap Index ETF Hedged (MUMC.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, MCLC.TO achieves a 14.02% return, which is significantly higher than MUMC.TO's 10.94% return.

MCLC.TO

1D
0.34%
1M
0.09%
6M
10.38%
YTD
14.02%
1Y
28.74%
3Y*
21.36%
5Y*
15.29%
10Y*
—

MUMC.TO

1D
-0.79%
1M
-0.28%
6M
7.47%
YTD
10.94%
1Y
14.50%
3Y*
11.18%
5Y*
6.15%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

MCLC.TO vs. MUMC.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
MCLC.TO
Manulife Multifactor Canadian Large Cap Index ETF		14.02%25.65%19.78%10.82%0.64%24.38%-0.74%23.54%-10.29%7.42%
MUMC.TO
Manulife Multifactor U.S. Mid Cap Index ETF Hedged		10.94%4.82%13.82%13.06%-17.20%24.09%12.29%29.38%-12.33%14.34%

Correlation

The correlation between MCLC.TO and MUMC.TO is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.21

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

0.25

Correlation (5Y)
Calculated over the trailing 5-year period

0.25

Correlation (All Time)
Calculated using the full available price history since Apr 18, 2017

0.20

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Manulife Multifactor Canadian Large Cap Index ETF

Manulife Multifactor U.S. Mid Cap Index ETF Hedged

Return for Risk

MCLC.TO vs. MUMC.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
MCLC.TO
MCLC.TO Risk / Return Rank: 9090
Overall Rank
MCLC.TO Sharpe Ratio Rank: 9191
Sharpe Ratio Rank
MCLC.TO Sortino Ratio Rank: 8888
Sortino Ratio Rank
MCLC.TO Omega Ratio Rank: 9090
Omega Ratio Rank
MCLC.TO Calmar Ratio Rank: 8888
Calmar Ratio Rank
MCLC.TO Martin Ratio Rank: 9292
Martin Ratio Rank
MUMC.TO
MUMC.TO Risk / Return Rank: 2929
Overall Rank
MUMC.TO Sharpe Ratio Rank: 2626
Sharpe Ratio Rank
MUMC.TO Sortino Ratio Rank: 2525
Sortino Ratio Rank
MUMC.TO Omega Ratio Rank: 3030
Omega Ratio Rank
MUMC.TO Calmar Ratio Rank: 3232
Calmar Ratio Rank
MUMC.TO Martin Ratio Rank: 3333
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.

MCLC.TO vs. MUMC.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Manulife Multifactor Canadian Large Cap Index ETF (MCLC.TO) and Manulife Multifactor U.S. Mid Cap Index ETF Hedged (MUMC.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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

MCLC.TOMUMC.TODifference
Sharpe ratioReturn per unit of total volatility
2.46
0.81

+1.64

Sortino ratioReturn per unit of downside risk
3.24
1.18

+2.07

Omega ratioGain probability vs. loss probability

1.46

1.17

+0.29

Calmar ratioReturn relative to maximum drawdown

4.04

1.40

+2.63

Martin ratioReturn relative to average drawdown

17.48

4.17

+13.31

MCLC.TO vs. MUMC.TO - Sharpe Ratio Comparison

The current MCLC.TO Sharpe Ratio is 2.46, which is higher than the MUMC.TO Sharpe Ratio of 0.81. The chart below compares the historical Sharpe Ratios of MCLC.TO and MUMC.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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Drawdowns

MCLC.TO vs. MUMC.TO - Drawdown Comparison

The maximum MCLC.TO drawdown since its inception was -35.34%, smaller than the maximum MUMC.TO drawdown of -38.47%. Use the drawdown chart below to compare losses from any high point for MCLC.TO and MUMC.TO.

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Drawdown Indicators

MCLC.TOMUMC.TODifference

Max Drawdown

Largest peak-to-trough decline

-35.34%

-38.47%

+3.13%

Max Drawdown (1Y)

Largest decline over 1 year

-7.15%

-10.38%

+3.23%

Max Drawdown (3Y)

Largest decline over 3 years

-11.91%

-21.77%

+9.86%

Max Drawdown (5Y)

Largest decline over 5 years

-16.24%

-24.62%

+8.38%

Current Drawdown

Current decline from peak

-0.08%

-1.78%

+1.70%

Average Drawdown

Average peak-to-trough decline

-3.85%

-6.49%

+2.64%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.65%

3.49%

-1.84%

Volatility

MCLC.TO vs. MUMC.TO - Volatility Comparison

The current volatility for Manulife Multifactor Canadian Large Cap Index ETF (MCLC.TO) is 2.44%, while Manulife Multifactor U.S. Mid Cap Index ETF Hedged (MUMC.TO) has a volatility of 3.17%. This indicates that MCLC.TO experiences smaller price fluctuations and is considered to be less risky than MUMC.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

MCLC.TOMUMC.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

2.44%

3.17%

-0.73%

Volatility (6M)

Calculated over the trailing 6-month period

9.38%

10.51%

-1.13%

Volatility (1Y)

Calculated over the trailing 1-year period

11.74%

17.94%

-6.20%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.24%

18.58%

-1.34%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.02%

19.45%

-0.43%

Dividends

MCLC.TO vs. MUMC.TO - Dividend Comparison

MCLC.TO's dividend yield for the trailing twelve months is around 1.68%, more than MUMC.TO's 0.81% yield.

PositionTTM202520242023202220212020201920182017
MCLC.TO
Manulife Multifactor Canadian Large Cap Index ETF		1.68%2.05%2.56%2.77%3.07%1.76%2.12%2.15%2.19%1.27%
MUMC.TO
Manulife Multifactor U.S. Mid Cap Index ETF Hedged		0.81%1.00%0.70%1.05%0.86%0.63%0.90%0.90%1.19%0.73%

Frequently Asked Questions

MCLC.TO and MUMC.TO have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

MCLC.TO is categorized as Canada Equities, while MUMC.TO is Mid Cap Blend Equities.

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