MULC.TO vs. XUSC.TO
MULC.TO (Manulife Multifactor U.S. Large Cap Index ETF Hedged) and XUSC.TO (iShares S&P 500 3% Capped Index ETF (CAD Units)) are both Large Cap Blend Equities funds. MULC.TO is actively managed, while XUSC.TO is passively managed. Over the past year, MULC.TO returned 19.42% vs 24.54% for XUSC.TO. A 0.51 correlation means they provide meaningful diversification when combined.
Performance
MULC.TO vs. XUSC.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 XUSC.TO's 13.99% 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*
- —
XUSC.TO
- 1D
- -0.27%
- 1M
- 0.10%
- 6M
- 10.82%
- YTD
- 13.99%
- 1Y
- 24.54%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MULC.TO vs. XUSC.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
MULC.TO Manulife Multifactor U.S. Large Cap Index ETF Hedged | 10.56% | 13.42% | 4.56% |
XUSC.TO iShares S&P 500 3% Capped Index ETF (CAD Units) | 13.99% | 11.40% | 10.66% |
Correlation
The correlation between MULC.TO and XUSC.TO is 0.52, 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 | 0.52 |
Correlation (All Time) Calculated using the full available price history since Jul 18, 2024 | 0.51 |
The correlation between MULC.TO and XUSC.TO has been stable across timeframes, ranging from 0.51 to 0.52 - a consistent structural relationship.
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Return for Risk
MULC.TO vs. XUSC.TO — Risk / Return Rank
MULC.TO
XUSC.TO
MULC.TO vs. XUSC.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 iShares S&P 500 3% Capped Index ETF (CAD Units) (XUSC.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 | XUSC.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.44 | ||
| Sortino ratioReturn per unit of downside risk | -0.39 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.37 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.35 | 3.24 | -0.90 |
| Martin ratioReturn relative to average drawdown | 10.31 | 11.73 | -1.42 |
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Drawdowns
MULC.TO vs. XUSC.TO - Drawdown Comparison
The maximum MULC.TO drawdown since its inception was -35.21%, which is greater than XUSC.TO's maximum drawdown of -18.31%. Use the drawdown chart below to compare losses from any high point for MULC.TO and XUSC.TO.
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Drawdown Indicators
| MULC.TO | XUSC.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.21% | -18.31% | -16.90% |
Max Drawdown (1Y)Largest decline over 1 year | -8.32% | -7.60% | -0.72% |
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% | -1.59% | +1.07% |
Average DrawdownAverage peak-to-trough decline | -5.17% | -2.59% | -2.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.89% | 2.10% | -0.21% |
Volatility
MULC.TO vs. XUSC.TO - Volatility Comparison
The current volatility for Manulife Multifactor U.S. Large Cap Index ETF Hedged (MULC.TO) is 2.88%, while iShares S&P 500 3% Capped Index ETF (CAD Units) (XUSC.TO) has a volatility of 3.44%. This indicates that MULC.TO experiences smaller price fluctuations and is considered to be less risky than XUSC.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 | XUSC.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.88% | 3.44% | -0.56% |
Volatility (6M)Calculated over the trailing 6-month period | 9.98% | 9.40% | +0.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.15% | 12.09% | +0.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.51% | 15.65% | -0.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.16% | 15.65% | +2.51% |
Dividends
MULC.TO vs. XUSC.TO - Dividend Comparison
MULC.TO's dividend yield for the trailing twelve months is around 0.80%, less than XUSC.TO's 0.94% 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% |
XUSC.TO iShares S&P 500 3% Capped Index ETF (CAD Units) | 0.94% | 0.94% | 0.24% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
MULC.TO and XUSC.TO have a correlation of 0.52, 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 iShares.
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