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

MUMC.TO vs. MULC.TO

Last updated Jul 16, 2026
Documentation

MUMC.TO (Manulife Multifactor U.S. Mid Cap Index ETF Hedged) and MULC.TO (Manulife Multifactor U.S. Large Cap Index ETF Hedged) are both exchange-traded funds - MUMC.TO is a Mid Cap Blend Equities fund actively managed by Manulife, while MULC.TO is a Large Cap Blend Equities fund actively managed by Manulife. Both are actively managed. Over the past 5 years, MUMC.TO returned 6.15%/yr vs 10.10%/yr for MULC.TO. At a 0.42 correlation, their price movements are largely independent.

Performance

MUMC.TO vs. MULC.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Manulife Multifactor U.S. Mid Cap Index ETF Hedged (MUMC.TO) and Manulife Multifactor U.S. Large Cap Index ETF Hedged (MULC.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

The year-to-date returns for both stocks are quite close, with MUMC.TO having a 10.94% return and MULC.TO slightly lower at 10.56%.

MUMC.TO

1D
-0.79%
1M
-0.28%
6M
7.47%
YTD
10.94%
1Y
14.50%
3Y*
11.18%
5Y*
6.15%
10Y*
—

MULC.TO

1D
0.09%
1M
-0.30%
6M
9.24%
YTD
10.56%
1Y
19.42%
3Y*
16.49%
5Y*
10.10%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)202520242023202220212020201920182017
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%12.04%
MULC.TO
Manulife Multifactor U.S. Large Cap Index ETF Hedged		10.56%13.42%18.78%18.95%-16.59%27.01%12.62%30.40%-8.43%12.69%

Correlation

The correlation between MUMC.TO and MULC.TO is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.32

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

0.46

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

0.51

Correlation (All Time)
Calculated using the full available price history since May 17, 2017

0.42

The correlation between MUMC.TO and MULC.TO shifts across timeframes, from 0.32 (1 year) to 0.51 (5 years), reflecting how their relationship changes across market environments.

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Manulife Multifactor U.S. Mid Cap Index ETF Hedged

Manulife Multifactor U.S. Large Cap Index ETF Hedged

Return for Risk

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

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
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
MULC.TO
MULC.TO Risk / Return Rank: 6464
Overall Rank
MULC.TO Sharpe Ratio Rank: 5858
Sharpe Ratio Rank
MULC.TO Sortino Ratio Rank: 6767
Sortino Ratio Rank
MULC.TO Omega Ratio Rank: 6565
Omega Ratio Rank
MULC.TO Calmar Ratio Rank: 5858
Calmar Ratio Rank
MULC.TO Martin Ratio Rank: 7070
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.

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

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

MUMC.TOMULC.TODifference
Sharpe ratioReturn per unit of total volatility
0.81
1.61

-0.79

Sortino ratioReturn per unit of downside risk
1.18
2.47

-1.30

Omega ratioGain probability vs. loss probability

1.17

1.32

-0.14

Calmar ratioReturn relative to maximum drawdown

1.40

2.35

-0.94

Martin ratioReturn relative to average drawdown

4.17

10.31

-6.15

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

The current MUMC.TO Sharpe Ratio is 0.81, which is lower than the MULC.TO Sharpe Ratio of 1.61. The chart below compares the historical Sharpe Ratios of MUMC.TO and MULC.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

MUMC.TO vs. MULC.TO - Drawdown Comparison

The maximum MUMC.TO drawdown since its inception was -38.47%, which is greater than MULC.TO's maximum drawdown of -35.21%. Use the drawdown chart below to compare losses from any high point for MUMC.TO and MULC.TO.

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Drawdown Indicators

MUMC.TOMULC.TODifference

Max Drawdown

Largest peak-to-trough decline

-38.47%

-35.21%

-3.26%

Max Drawdown (1Y)

Largest decline over 1 year

-10.38%

-8.32%

-2.06%

Max Drawdown (3Y)

Largest decline over 3 years

-21.77%

-18.10%

-3.67%

Max Drawdown (5Y)

Largest decline over 5 years

-24.62%

-25.00%

+0.38%

Current Drawdown

Current decline from peak

-1.78%

-0.52%

-1.26%

Average Drawdown

Average peak-to-trough decline

-6.49%

-5.17%

-1.32%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.49%

1.89%

+1.60%

Volatility

MUMC.TO vs. MULC.TO - Volatility Comparison

Manulife Multifactor U.S. Mid Cap Index ETF Hedged (MUMC.TO) has a higher volatility of 3.17% compared to Manulife Multifactor U.S. Large Cap Index ETF Hedged (MULC.TO) at 2.88%. This indicates that MUMC.TO's price experiences larger fluctuations and is considered to be riskier than MULC.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

MUMC.TOMULC.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.17%

2.88%

+0.29%

Volatility (6M)

Calculated over the trailing 6-month period

10.51%

9.98%

+0.53%

Volatility (1Y)

Calculated over the trailing 1-year period

17.94%

12.15%

+5.79%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.58%

15.51%

+3.07%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.45%

18.16%

+1.29%

Dividends

MUMC.TO vs. MULC.TO - Dividend Comparison

MUMC.TO's dividend yield for the trailing twelve months is around 0.81%, more than MULC.TO's 0.80% yield.

PositionTTM202520242023202220212020201920182017
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%0.00%
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

MUMC.TO and MULC.TO have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

MUMC.TO is categorized as Mid Cap Blend Equities, while MULC.TO is Large Cap Blend Equities.

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