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Compare Manulife Smart Defensive Equity ETF (CDEF) vs Manulife Multifactor Canadian Large Cap Index ETF (MCLC) to find the best fit for your portfolio. CDEF provides Financials, Energy, and Industrials exposures, while MCLC is primarily weighted in Financials, Energy, and Materials. When evaluating costs, CDEF features a management fee (MER) of 0.25%, compared to 0.35% for MCLC. Performance-wise, CDEF has returned 10.11% year-to-date with +$0 M in net flows, whereas MCLC is at 12.71% with +$126 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
MCLC
| AuM | $3.67 M | $546.09 M |
| Management Fees | 0.25% | 0.35% |
| Exp. ratio | 0.28% | 0.40% |
| Tracking Difference | - | -0.73% |
Historical performance and flows
As of June 11, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | CDEF | +2.11% | +4.94% | +10.11% | +20.81% | +67.54% |
MCLC | +2.17% | +7.35% | +12.71% | +35.26% | +92.48% | |
| Flows | CDEF | +$0 M | -$0 M | +$0 M | -$2 M | +$1 M |
MCLC | -$3 M | -$12 M | +$126 M | +$106 M | +$18 M |
CDEF vs MCLC exposure
Countries
CDEF
Canada
96.44%
MCLC
Canada
96.46%
Sectors
CDEF
Financials
27.82%
Energy
17.45%
Industrials
14.58%
Materials
12.61%
Utilities
7.51%
Other
20.03%
MCLC
Financials
29.66%
Energy
20.55%
Materials
18.12%
Other
7.98%
Industrials
7.40%
Other
16.28%
As of June 11, 2026
Top 10 Holdings
CDEF
CENOVUS ENERGY
3.50%
IMPERIAL OIL
3.22%
ENBRIDGE
2.84%
CANADIAN PACIFIC RAILWAY
2.73%
TC ENERGY CORP
2.71%
HYDRO ONE
2.65%
NATIONAL BANK OF CANADA
2.65%
FORTIS
2.64%
CDN NATL RAILWAY
2.58%
CDN IMPERIAL BK
2.58%
MCLC
ROYAL BK CANADA
4.54%
TORONTO DOMINION
4.45%
SUNCOR ENERGY
4.33%
CENOVUS ENERGY
3.57%
AGNICO EAGLE MINES LTD
3.33%
CA11271J1075
3.22%
CDN NATURAL RESOURCE
3.08%
SUN LIFE FINL
2.91%
BANK OF MONTREAL
2.76%
CDN IMPERIAL BK
2.69%
Diversification
CDEF
Total weight of top 10 holdings out of 60 total
28.09%
MCLC
Total weight of top 10 holdings out of 76 total
34.89%
Characteristics
Compare
CDEF
MCLC
| Provider | Manulife Investments | Manulife Investments |
| Management | Actively managed | Passively managed |
| Benchmark | - | John Hancock Dimensional Canadian Large Cap Equity Total Return Index - CAD |
| Replication Method | Direct (Physical) | |
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 0.41% | 1.79% |
| Meets ESG criteria | No | No |
| Inception Date | November 10, 2021 | April 17, 2017 |
Frequently asked questions about CDEF and MCLC
Which ETF has performed better year to date: CDEF or MCLC?
As of June 11, 2026, CDEF has returned 10.11% year to date, while MCLC has returned 12.71%. MCLC is ahead on YTD performance.
Which ETF is larger by assets under management: CDEF or MCLC?
As of June 11, 2026, CDEF manages $3.67 M in assets, while MCLC manages $546.09 M. MCLC is the larger fund by AUM.
How are CDEF and MCLC managed?
CDEF is actively managed by Manulife Investments. It does not track an index. MCLC is passively managed by Manulife Investments. It tracks the John Hancock Dimensional Canadian Large Cap Equity Total Return Index - CAD benchmark.
What sectors do CDEF and MCLC emphasize?
CDEF is most exposed to Financials, Energy, and Industrials. MCLC is most exposed to Financials, Energy, and Materials.
Which ETF is attracting more investor flows: CDEF or MCLC?
Year to date, CDEF has seen +$0.00 M in net flows, compared with +$125.50 M for MCLC. MCLC has attracted more net investor money so far.
How do the fees of CDEF and MCLC compare?
CDEF has an expense ratio of 0.28%, while MCLC has an expense ratio of 0.40%.
What are the top holdings of CDEF and MCLC?
CDEF's largest holdings include CENOVUS ENERGY, IMPERIAL OIL, and ENBRIDGE. MCLC's top holdings include ROYAL BK CANADA and TORONTO DOMINION.
Which ETF is more diversified: CDEF or MCLC?
CDEF holds 60 securities, while MCLC holds 75. On holdings count, MCLC is the more diversified portfolio.
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