XMU.TO vs. MULC.TO
XMU.TO (iShares MSCI Min Vol USA Index ETF) and MULC.TO (Manulife Multifactor U.S. Large Cap Index ETF Hedged) are both Large Cap Blend Equities funds. XMU.TO is passively managed, while MULC.TO is actively managed. Over the past 5 years, XMU.TO returned 6.78%/yr vs 9.90%/yr for MULC.TO. At a 0.22 correlation, their price movements are largely independent.
Performance
XMU.TO vs. MULC.TO - Performance Comparison
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Returns By Period
In the year-to-date period, XMU.TO achieves a 5.16% return, which is significantly lower than MULC.TO's 9.54% return.
XMU.TO
- 1D
- 0.39%
- 1M
- 1.31%
- 6M
- 3.43%
- YTD
- 5.16%
- 1Y
- 3.64%
- 3Y*
- 10.29%
- 5Y*
- 6.78%
- 10Y*
- 8.80%
MULC.TO
- 1D
- -0.71%
- 1M
- -0.72%
- 6M
- 7.53%
- YTD
- 9.54%
- 1Y
- 18.88%
- 3Y*
- 15.72%
- 5Y*
- 9.90%
- 10Y*
- —
XMU.TO vs. MULC.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XMU.TO iShares MSCI Min Vol USA Index ETF | 5.16% | -0.80% | 22.08% | 6.68% | -3.58% | 17.10% | 3.13% | 20.92% | 9.19% | 2.50% |
MULC.TO Manulife Multifactor U.S. Large Cap Index ETF Hedged | 9.54% | 13.42% | 18.78% | 18.95% | -16.59% | 27.01% | 12.62% | 30.40% | -8.43% | 12.69% |
Correlation
The correlation between XMU.TO and MULC.TO is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.23 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.29 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.25 |
Correlation (All Time) Calculated using the full available price history since May 17, 2017 | 0.22 |
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Return for Risk
XMU.TO vs. MULC.TO — Risk / Return Rank
XMU.TO
MULC.TO
XMU.TO vs. MULC.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Min Vol USA Index ETF (XMU.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.
| XMU.TO | MULC.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.21 | ||
| Sortino ratioReturn per unit of downside risk | -1.86 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 1.31 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | 0.43 | 2.28 | -1.85 |
| Martin ratioReturn relative to average drawdown | 0.89 | 10.01 | -9.12 |
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Drawdowns
XMU.TO vs. MULC.TO - Drawdown Comparison
The maximum XMU.TO drawdown since its inception was -27.31%, smaller than the maximum MULC.TO drawdown of -35.21%. Use the drawdown chart below to compare losses from any high point for XMU.TO and MULC.TO.
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Drawdown Indicators
| XMU.TO | MULC.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.31% | -35.21% | +7.90% |
Max Drawdown (1Y)Largest decline over 1 year | -8.45% | -8.32% | -0.13% |
Max Drawdown (3Y)Largest decline over 3 years | -10.97% | -18.10% | +7.13% |
Max Drawdown (5Y)Largest decline over 5 years | -20.59% | -25.00% | +4.41% |
Max Drawdown (10Y)Largest decline over 10 years | -27.31% | — | — |
Current DrawdownCurrent decline from peak | -3.23% | -1.44% | -1.79% |
Average DrawdownAverage peak-to-trough decline | -4.53% | -5.17% | +0.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.12% | 1.89% | +2.23% |
Volatility
XMU.TO vs. MULC.TO - Volatility Comparison
iShares MSCI Min Vol USA Index ETF (XMU.TO) has a higher volatility of 3.65% compared to Manulife Multifactor U.S. Large Cap Index ETF Hedged (MULC.TO) at 2.96%. This indicates that XMU.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
| XMU.TO | MULC.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.65% | 2.96% | +0.69% |
Volatility (6M)Calculated over the trailing 6-month period | 6.75% | 9.96% | -3.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.47% | 12.16% | -1.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.70% | 15.51% | -0.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.09% | 18.16% | -1.07% |
Dividends
XMU.TO vs. MULC.TO - Dividend Comparison
XMU.TO's dividend yield for the trailing twelve months is around 1.15%, more than MULC.TO's 0.81% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MULC.TO Manulife Multifactor U.S. Large Cap Index ETF Hedged | 0.81% | 0.85% | 0.85% | 0.83% | 1.39% | 0.77% | 1.36% | 1.21% | 1.39% | 0.00% | 0.00% | 0.00% |
XMU.TO iShares MSCI Min Vol USA Index ETF | 1.15% | 1.13% | 1.19% | 1.41% | 1.17% | 1.09% | 1.72% | 1.47% | 1.51% | 1.63% | 1.87% | 1.46% |
Frequently Asked Questions
XMU.TO and MULC.TO have a correlation of 0.23, 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: iShares and Manulife.
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