MULC.TO vs. SMVP.TO
MULC.TO (Manulife Multifactor U.S. Large Cap Index ETF Hedged) and SMVP.TO (HAMILTON CHAMPIONS U.S. Dividend Index ETF (CAD Hedged)) are both Large Cap Blend Equities funds. MULC.TO is actively managed, while SMVP.TO is passively managed. Over the past year, MULC.TO returned 19.42% vs 14.26% for SMVP.TO. At a 0.24 correlation, their price movements are largely independent.
Performance
MULC.TO vs. SMVP.TO - Performance Comparison
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Returns By Period
In the year-to-date period, MULC.TO achieves a 10.56% return, which is significantly lower than SMVP.TO's 11.21% return.
MULC.TO
- 1D
- 0.09%
- 1M
- -0.30%
- 6M
- 9.24%
- YTD
- 10.56%
- 1Y
- 19.42%
- 3Y*
- 16.49%
- 5Y*
- 10.10%
- 10Y*
- —
SMVP.TO
- 1D
- 0.06%
- 1M
- 2.79%
- 6M
- 6.42%
- YTD
- 11.21%
- 1Y
- 14.26%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MULC.TO vs. SMVP.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
MULC.TO Manulife Multifactor U.S. Large Cap Index ETF Hedged | 10.56% | 9.09% |
SMVP.TO HAMILTON CHAMPIONS U.S. Dividend Index ETF (CAD Hedged) | 11.21% | 3.24% |
Correlation
The correlation between MULC.TO and SMVP.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 (All Time) Calculated using the full available price history since Jan 27, 2025 | 0.24 |
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Return for Risk
MULC.TO vs. SMVP.TO — Risk / Return Rank
MULC.TO
SMVP.TO
MULC.TO vs. SMVP.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Manulife Multifactor U.S. Large Cap Index ETF Hedged (MULC.TO) and HAMILTON CHAMPIONS U.S. Dividend Index ETF (CAD Hedged) (SMVP.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.
| MULC.TO | SMVP.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.33 | ||
| Sortino ratioReturn per unit of downside risk | +0.60 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.23 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 2.35 | 2.02 | +0.32 |
| Martin ratioReturn relative to average drawdown | 10.31 | 4.63 | +5.68 |
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Drawdowns
MULC.TO vs. SMVP.TO - Drawdown Comparison
The maximum MULC.TO drawdown since its inception was -35.21%, which is greater than SMVP.TO's maximum drawdown of -12.11%. Use the drawdown chart below to compare losses from any high point for MULC.TO and SMVP.TO.
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Drawdown Indicators
| MULC.TO | SMVP.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.21% | -12.11% | -23.10% |
Max Drawdown (1Y)Largest decline over 1 year | -8.32% | -6.44% | -1.88% |
Max Drawdown (3Y)Largest decline over 3 years | -18.10% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -25.00% | — | — |
Current DrawdownCurrent decline from peak | -0.52% | -1.22% | +0.70% |
Average DrawdownAverage peak-to-trough decline | -5.17% | -2.58% | -2.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.89% | 2.81% | -0.92% |
Volatility
MULC.TO vs. SMVP.TO - Volatility Comparison
The current volatility for Manulife Multifactor U.S. Large Cap Index ETF Hedged (MULC.TO) is 2.88%, while HAMILTON CHAMPIONS U.S. Dividend Index ETF (CAD Hedged) (SMVP.TO) has a volatility of 4.22%. This indicates that MULC.TO experiences smaller price fluctuations and is considered to be less risky than SMVP.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MULC.TO | SMVP.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.88% | 4.22% | -1.34% |
Volatility (6M)Calculated over the trailing 6-month period | 9.98% | 8.01% | +1.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.15% | 10.26% | +1.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.51% | 13.21% | +2.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.16% | 13.21% | +4.95% |
Dividends
MULC.TO vs. SMVP.TO - Dividend Comparison
MULC.TO's dividend yield for the trailing twelve months is around 0.80%, less than SMVP.TO's 2.16% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
MULC.TO Manulife Multifactor U.S. Large Cap Index ETF Hedged | 0.80% | 0.85% | 0.85% | 0.83% | 1.39% | 0.77% | 1.36% | 1.21% | 1.39% |
SMVP.TO HAMILTON CHAMPIONS U.S. Dividend Index ETF (CAD Hedged) | 2.16% | 1.93% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
MULC.TO and SMVP.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.
They also come from different issuers: Manulife and Hamilton Capital.
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