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Compare Manulife Smart Defensive Equity ETF (CDEF) vs Global X S&P/TSX Capped Composite Index Corporate Class ETF (HXCN) to find the best fit for your portfolio. CDEF and HXCN provide the same top sector exposures: Finance, Energy, and Non-Energy Materials. When evaluating costs, CDEF features a management fee (MER) of 0.25%, compared to 0.05% for HXCN. Performance-wise, CDEF has returned 11.6% year-to-date with +$0 M in net flows, whereas HXCN is at 14.07% with +$280 M. Use the comparison tool below to benchmark these funds across top 10 holdings, yield, sector weights and historical returns.
NAV Performance and Flows
Key Data
Compare
CDEF
HXCN
| AuM | $3.68 M | $2,619.89 M |
| Management Fees | 0.25% | 0.05% |
| Exp. ratio | 0.28% | 0.06% |
| Tracking Difference | - | -0.33% |
Historical performance and flows
As of September 11, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | CDEF | -2.23% | +1.35% | +11.60% | +15.31% | +71.01% |
HXCN | -1.95% | +3.46% | +14.07% | +23.88% | +91.29% | |
| Flows | CDEF | -$2 M | +$0 M | +$0 M | -$2 M | +$1 M |
HXCN | +$12 M | +$247 M | +$280 M | +$425 M | +$281 M |
CDEF vs HXCN exposure
Countries
CDEF
Canada
97.57%
HXCN
Canada
96.46%
Sectors
CDEF
Finance
34.19%
Energy
16.59%
Non-Energy Materials
9.95%
Industrials
8.79%
Consumer Non-Cyclicals
7.42%
Other
23.05%
HXCN
Finance
41.74%
Energy
17.17%
Non-Energy Materials
15.75%
Industrials
8.14%
Other
17.19%
As of September 11, 2026
Top 10 Holdings
CDEF
Sun Life Financial, Inc.
3.84%
Great-West Lifeco, Inc.
3.05%
Royal Bank of Canada
2.85%
Bank of Montreal
2.85%
The Bank of Nova Scotia
2.76%
The Toronto-Dominion Bank
2.74%
Alimentation Couche-Tard, Inc.
2.70%
Cenovus Energy, Inc.
2.67%
Canadian National Railway Co.
2.67%
National Bank of Canada
2.63%
HXCN
Royal Bank of Canada
8.10%
The Toronto-Dominion Bank
5.52%
Shopify, Inc.
4.12%
Bank of Montreal
3.45%
Enbridge, Inc.
3.34%
Canadian Imperial Bank of Commerce
3.00%
The Bank of Nova Scotia
2.98%
Canadian Natural Resources Ltd.
2.72%
Brookfield Corp.
2.48%
Suncor Energy, Inc.
2.17%
Diversification
CDEF
Total weight of top 10 holdings out of 65 total
28.76%
HXCN
Total weight of top 10 holdings out of 219 total
37.87%
Characteristics
Compare
CDEF
HXCN
| Provider | Manulife Investments | Global X |
| Management | Actively managed | Passively managed |
| Benchmark | - | S&P/TSX Capped Composite Total Return Index - CAD |
| Replication Method | Direct (Physical) | |
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Capitalization |
| Trailing 12m distribution yield | 1.05% | 0.00% |
| Meets ESG criteria | No | No |
| Inception Date | November 10, 2021 | February 6, 2020 |
Frequently asked questions about CDEF and HXCN
Which ETF has performed better year to date: CDEF or HXCN?
As of September 11, 2026, CDEF has returned 11.60% year to date, while HXCN has returned 14.07%. HXCN is ahead on YTD performance.
Which ETF is larger by assets under management: CDEF or HXCN?
As of September 11, 2026, CDEF manages $3.68 M in assets, while HXCN manages $2.62 B. HXCN is the larger fund by AUM.
How are CDEF and HXCN managed?
CDEF is actively managed by Manulife Investments. It does not track an index. HXCN is passively managed by Global X. It tracks the S&P/TSX Capped Composite Total Return Index - CAD benchmark.
What sectors do CDEF and HXCN emphasize?
CDEF is most exposed to Finance, Energy, and Non-Energy Materials. HXCN is most exposed to Finance, Energy, and Non-Energy Materials.
Which ETF is attracting more investor flows: CDEF or HXCN?
Year to date, CDEF has seen +$0.01 M in net flows, compared with +$280.01 M for HXCN. HXCN has attracted more net investor money so far.
How do the fees of CDEF and HXCN compare?
CDEF has an expense ratio of 0.28%, while HXCN has an expense ratio of 0.06%.
What are the top holdings of CDEF and HXCN?
CDEF's largest holdings include Sun Life Financial, Inc., Great-West Lifeco, Inc., and Royal Bank of Canada. HXCN's top holdings include Royal Bank of Canada, The Toronto-Dominion Bank, and Shopify, Inc..
Which ETF is more diversified: CDEF or HXCN?
CDEF holds 65 securities, while HXCN holds 219. On holdings count, HXCN is the more diversified portfolio.
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