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Compare Manulife Smart Defensive Equity ETF (CDEF) vs RBC Canadian Equity ETF (RCAN) to find the best fit for your portfolio. CDEF and RCAN 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 0.39% for RCAN. 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
RCAN
| AuM | $3.68 M | $11.94 M |
| Management Fees | 0.25% | 0.39% |
| Exp. ratio | 0.28% | 0.39% |
| Tracking Difference | - | - |
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% |
RCAN | -2.53% | +1.69% | - | - | - | |
| Flows | CDEF | -$2 M | +$0 M | +$0 M | -$2 M | +$1 M |
RCAN | +$1 M | -$1 M | - | - | - |
CDEF vs RCAN exposure
Countries
CDEF
Canada
97.57%
RCAN
Canada
97.37%
Sectors
CDEF
Finance
34.19%
Energy
16.59%
Non-Energy Materials
9.95%
Industrials
8.79%
Consumer Non-Cyclicals
7.42%
Other
23.05%
RCAN
Finance
43.16%
Energy
17.75%
Non-Energy Materials
9.87%
Industrials
9.71%
Other
19.51%
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%
RCAN
Royal Bank of Canada
7.92%
The Toronto-Dominion Bank
5.93%
Brookfield Corp.
4.10%
Canadian Natural Resources Ltd.
4.00%
Bank of Montreal
3.81%
Canadian Imperial Bank of Commerce
3.36%
Enbridge, Inc.
3.31%
Manulife Financial Corp.
3.24%
Shopify, Inc.
3.21%
Suncor Energy, Inc.
3.11%
Diversification
CDEF
Total weight of top 10 holdings out of 65 total
28.76%
RCAN
Total weight of top 10 holdings out of 54 total
42.00%
Characteristics
Compare
CDEF
RCAN
| Provider | Manulife Investments | RBC Global Asset Management |
| Management | Actively managed | Actively managed |
| Benchmark | - | - |
| Replication Method | ||
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 1.05% | - |
| Meets ESG criteria | No | No |
| Inception Date | November 10, 2021 | March 25, 2026 |
Frequently asked questions about CDEF and RCAN
Which ETF is larger by assets under management: CDEF or RCAN?
As of September 11, 2026, CDEF manages $3.68 M in assets, while RCAN manages $11.94 M. RCAN is the larger fund by AUM.
How are CDEF and RCAN managed?
CDEF is actively managed by Manulife Investments. It does not track an index. RCAN is actively managed by RBC Global Asset Management. It does not track an index.
What sectors do CDEF and RCAN emphasize?
CDEF is most exposed to Finance, Energy, and Non-Energy Materials. RCAN is most exposed to Finance, Energy, and Non-Energy Materials.
How do the fees of CDEF and RCAN compare?
CDEF has an expense ratio of 0.28%, while RCAN has an expense ratio of 0.39%.
What are the top holdings of CDEF and RCAN?
CDEF's largest holdings include Sun Life Financial, Inc., Great-West Lifeco, Inc., and Royal Bank of Canada. RCAN's top holdings include Royal Bank of Canada, The Toronto-Dominion Bank, and Brookfield Corp..
Which ETF is more diversified: CDEF or RCAN?
CDEF holds 65 securities, while RCAN holds 54. On holdings count, CDEF is the more diversified portfolio.
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All content on the ETF Market Canada is for your general information use only, Cboe is not responsible for any use of content by you outside this scope. In particular, the content does not constitute any form of advice, recommendation, representation, endorsement or arrangement by Cboe and is not intended to be relied upon by users in making (or refraining from making) any specific investment or other decisions.