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XDIV.TO vs. MFC.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XDIV.TO vs. MFC.TO

Last updated Jun 14, 2026

XDIV.TO (iShares Core MSCI Canadian Quality Dividend Index ETF) is Dividend fund tracking the MSCI Canada High Dividend Yield 10% Security Capped Index, while MFC.TO (Manulife Financial Corporation) is a stock. Over the past 5 years, XDIV.TO returned 17.21%/yr vs 23.66%/yr for MFC.TO. A 0.69 correlation means they provide meaningful diversification when combined.

Performance

XDIV.TO vs. MFC.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares Core MSCI Canadian Quality Dividend Index ETF (XDIV.TO) and Manulife Financial Corporation (MFC.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, XDIV.TO achieves a 21.85% return, which is significantly higher than MFC.TO's 15.19% return.

XDIV.TO

1D
0.57%
1M
4.75%
YTD
21.85%
6M
20.22%
1Y
40.47%
3Y*
24.13%
5Y*
17.21%
10Y*
—

MFC.TO

1D
1.53%
1M
9.90%
YTD
15.19%
6M
17.52%
1Y
38.24%
3Y*
35.54%
5Y*
23.66%
10Y*
17.33%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XDIV.TO vs. MFC.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
XDIV.TO
iShares Core MSCI Canadian Quality Dividend Index ETF		21.85%25.04%19.84%11.95%0.49%33.31%-7.53%25.14%-9.81%8.00%
MFC.TO
Manulife Financial Corporation		15.19%17.45%57.53%28.33%5.83%11.57%-9.19%41.99%-23.25%10.48%

Correlation

The correlation between XDIV.TO and MFC.TO is 0.58, 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

0.58

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

0.66

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

0.71

Correlation (All Time)
Calculated using the full available price history since Jun 13, 2017

0.69

The correlation between XDIV.TO and MFC.TO shifts across timeframes, from 0.58 (1 year) to 0.71 (5 years), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

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iShares Core MSCI Canadian Quality Dividend Index ETF

Manulife Financial Corporation

Often compared with XDIV.TO:
XDIV.TO vs. VDY.TOXDIV.TO vs. XEI.TOXDIV.TO vs. XDV.TOXDIV.TO vs. XEQT.TOXDIV.TO vs. HDIV.TOXDIV.TO vs. XIU.TOXDIV.TO vs. CDZ.TO
Often compared with MFC.TO:
MFC.TO vs. SLF.TOMFC.TO vs. GWO.TOMFC.TO vs. MFCMFC.TO vs. POW.TOMFC.TO vs. BNS.TOMFC.TO vs. IAG.TOMFC.TO vs. VDY.TO

Return for Risk

XDIV.TO vs. MFC.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XDIV.TO
XDIV.TO Risk / Return Rank: 9898
Overall Rank
XDIV.TO Sharpe Ratio Rank: 9898
Sharpe Ratio Rank
XDIV.TO Sortino Ratio Rank: 9898
Sortino Ratio Rank
XDIV.TO Omega Ratio Rank: 9898
Omega Ratio Rank
XDIV.TO Calmar Ratio Rank: 9999
Calmar Ratio Rank
XDIV.TO Martin Ratio Rank: 9898
Martin Ratio Rank
MFC.TO
MFC.TO Risk / Return Rank: 8383
Overall Rank
MFC.TO Sharpe Ratio Rank: 8686
Sharpe Ratio Rank
MFC.TO Sortino Ratio Rank: 8080
Sortino Ratio Rank
MFC.TO Omega Ratio Rank: 8181
Omega Ratio Rank
MFC.TO Calmar Ratio Rank: 8282
Calmar Ratio Rank
MFC.TO Martin Ratio Rank: 8686
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.

XDIV.TO vs. MFC.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core MSCI Canadian Quality Dividend Index ETF (XDIV.TO) and Manulife Financial Corporation (MFC.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.

XDIV.TOMFC.TODifference
Sharpe ratioReturn per unit of total volatility
5.14
1.71

+3.43

Sortino ratioReturn per unit of downside risk
7.59
2.19

+5.40

Omega ratioGain probability vs. loss probability

2.07

1.30

+0.77

Calmar ratioReturn relative to maximum drawdown

17.55

2.67

+14.88

Martin ratioReturn relative to average drawdown

59.35

8.65

+50.70

XDIV.TO vs. MFC.TO - Sharpe Ratio Comparison

The current XDIV.TO Sharpe Ratio is 5.14, which is higher than the MFC.TO Sharpe Ratio of 1.71. The chart below compares the historical Sharpe Ratios of XDIV.TO and MFC.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

XDIV.TO vs. MFC.TO - Drawdown Comparison

The maximum XDIV.TO drawdown since its inception was -41.29%, smaller than the maximum MFC.TO drawdown of -77.97%. Use the drawdown chart below to compare losses from any high point for XDIV.TO and MFC.TO.

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Drawdown Indicators

XDIV.TOMFC.TODifference

Max Drawdown

Largest peak-to-trough decline

-41.29%

-77.97%

+36.68%

Max Drawdown (1Y)

Largest decline over 1 year

-2.32%

-12.71%

+10.39%

Max Drawdown (3Y)

Largest decline over 3 years

-10.53%

-17.63%

+7.10%

Max Drawdown (5Y)

Largest decline over 5 years

-17.33%

-21.05%

+3.72%

Max Drawdown (10Y)

Largest decline over 10 years

—

-52.68%

—

Current Drawdown

Current decline from peak

0.00%

0.00%

0.00%

Average Drawdown

Average peak-to-trough decline

-4.39%

-28.15%

+23.76%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.69%

3.96%

-3.27%

Volatility

XDIV.TO vs. MFC.TO - Volatility Comparison

The current volatility for iShares Core MSCI Canadian Quality Dividend Index ETF (XDIV.TO) is 2.47%, while Manulife Financial Corporation (MFC.TO) has a volatility of 7.81%. This indicates that XDIV.TO experiences smaller price fluctuations and is considered to be less risky than MFC.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XDIV.TOMFC.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

2.47%

7.81%

-5.34%

Volatility (6M)

Calculated over the trailing 6-month period

6.45%

15.42%

-8.97%

Volatility (1Y)

Calculated over the trailing 1-year period

7.95%

19.91%

-11.96%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

10.51%

21.55%

-11.04%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.33%

26.09%

-9.76%

Dividends

XDIV.TO vs. MFC.TO - Dividend Comparison

XDIV.TO's dividend yield for the trailing twelve months is around 3.25%, which matches MFC.TO's 3.28% yield.

PositionTTM20252024202320222021202020192018201720162015
MFC.TO
Manulife Financial Corporation		3.28%3.53%3.62%4.99%5.47%4.85%4.94%3.79%4.70%3.13%3.09%2.39%
XDIV.TO
iShares Core MSCI Canadian Quality Dividend Index ETF		3.25%3.90%4.50%4.42%4.15%3.76%4.85%4.24%5.13%1.92%0.00%0.00%

Frequently Asked Questions

XDIV.TO and MFC.TO have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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