MCSM.TO vs. DMEC.TO
MCSM.TO (Manulife Multifactor Canadian SMID Cap Index ETF) and DMEC.TO (Desjardins Canadian Equity Index ETF) are both Canada Equities funds. MCSM.TO is actively managed, while DMEC.TO is passively managed. Over the past year, MCSM.TO returned 32.76% vs 33.73% for DMEC.TO. At a 0.44 correlation, their price movements are largely independent.
Performance
MCSM.TO vs. DMEC.TO - Performance Comparison
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Returns By Period
In the year-to-date period, MCSM.TO achieves a 11.32% return, which is significantly lower than DMEC.TO's 12.80% return.
MCSM.TO
- 1D
- 0.46%
- 1M
- -1.44%
- 6M
- 4.24%
- YTD
- 11.32%
- 1Y
- 32.76%
- 3Y*
- 19.58%
- 5Y*
- 11.72%
- 10Y*
- —
DMEC.TO
- 1D
- 0.15%
- 1M
- 0.55%
- 6M
- 8.72%
- YTD
- 12.80%
- 1Y
- 33.73%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MCSM.TO vs. DMEC.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
MCSM.TO Manulife Multifactor Canadian SMID Cap Index ETF | 11.32% | 39.56% | -2.06% |
DMEC.TO Desjardins Canadian Equity Index ETF | 12.80% | 31.87% | 16.56% |
Correlation
The correlation between MCSM.TO and DMEC.TO is 0.62, 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 | 0.62 |
Correlation (All Time) Calculated using the full available price history since Apr 18, 2024 | 0.44 |
The correlation between MCSM.TO and DMEC.TO shifts across timeframes, from 0.44 (all time) to 0.62 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
MCSM.TO vs. DMEC.TO — Risk / Return Rank
MCSM.TO
DMEC.TO
MCSM.TO vs. DMEC.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Manulife Multifactor Canadian SMID Cap Index ETF (MCSM.TO) and Desjardins Canadian Equity Index ETF (DMEC.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.
| MCSM.TO | DMEC.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.31 | ||
| Sortino ratioReturn per unit of downside risk | -1.62 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.46 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | 2.26 | 3.60 | -1.34 |
| Martin ratioReturn relative to average drawdown | 5.33 | 16.21 | -10.88 |
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Drawdowns
MCSM.TO vs. DMEC.TO - Drawdown Comparison
The maximum MCSM.TO drawdown since its inception was -42.80%, which is greater than DMEC.TO's maximum drawdown of -12.15%. Use the drawdown chart below to compare losses from any high point for MCSM.TO and DMEC.TO.
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Drawdown Indicators
| MCSM.TO | DMEC.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.80% | -12.15% | -30.65% |
Max Drawdown (1Y)Largest decline over 1 year | -14.54% | -9.41% | -5.13% |
Max Drawdown (3Y)Largest decline over 3 years | -22.65% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -22.93% | — | — |
Current DrawdownCurrent decline from peak | -8.40% | 0.00% | -8.40% |
Average DrawdownAverage peak-to-trough decline | -6.53% | -1.40% | -5.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.16% | 2.09% | +4.07% |
Volatility
MCSM.TO vs. DMEC.TO - Volatility Comparison
Manulife Multifactor Canadian SMID Cap Index ETF (MCSM.TO) has a higher volatility of 4.94% compared to Desjardins Canadian Equity Index ETF (DMEC.TO) at 2.20%. This indicates that MCSM.TO's price experiences larger fluctuations and is considered to be riskier than DMEC.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MCSM.TO | DMEC.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.94% | 2.20% | +2.74% |
Volatility (6M)Calculated over the trailing 6-month period | 17.07% | 10.67% | +6.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.62% | 13.10% | +12.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 50.04% | 12.91% | +37.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 49.71% | 12.91% | +36.80% |
Dividends
MCSM.TO vs. DMEC.TO - Dividend Comparison
MCSM.TO's dividend yield for the trailing twelve months is around 1.78%, more than DMEC.TO's 1.71% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
DMEC.TO Desjardins Canadian Equity Index ETF | 1.71% | 1.78% | 1.39% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
MCSM.TO Manulife Multifactor Canadian SMID Cap Index ETF | 1.78% | 1.63% | 1.82% | 2.15% | 2.05% | 1.23% | 1.05% | 1.41% | 1.43% |
Frequently Asked Questions
MCSM.TO and DMEC.TO have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
They also come from different issuers: Manulife and Desjardins.
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