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Compare Manulife Smart Defensive Equity ETF (CDEF) vs iShares Core S&P/TSX Capped Composite Index ETF (XIC) to find the best fit for your portfolio. CDEF and XIC 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 XIC. Performance-wise, CDEF has returned 11.6% year-to-date with +$0 M in net flows, whereas XIC is at 14.22% with +$9 B. 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
XIC
| AuM | $3.68 M | $33,904.07 M |
| Management Fees | 0.25% | 0.05% |
| Exp. ratio | 0.28% | 0.06% |
| Tracking Difference | - | -0.09% |
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% |
XIC | -1.93% | +3.51% | +14.22% | +24.11% | +91.80% | |
| Flows | CDEF | -$2 M | +$0 M | +$0 M | -$2 M | +$1 M |
XIC | +$1,611 M | +$3,063 M | +$8,684 M | +$9,268 M | +$14,741 M |
CDEF vs XIC exposure
Countries
CDEF
Canada
97.57%
XIC
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%
XIC
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%
XIC
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%
XIC
Total weight of top 10 holdings out of 219 total
37.87%
Characteristics
Compare
CDEF
XIC
| Provider | Manulife Investments | iShares |
| 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 | Distributing |
| Trailing 12m distribution yield | 1.05% | 1.97% |
| Meets ESG criteria | No | No |
| Inception Date | November 10, 2021 | February 16, 2001 |
Frequently asked questions about CDEF and XIC
Which ETF has performed better year to date: CDEF or XIC?
As of September 11, 2026, CDEF has returned 11.60% year to date, while XIC has returned 14.22%. XIC is ahead on YTD performance.
Which ETF is larger by assets under management: CDEF or XIC?
As of September 11, 2026, CDEF manages $3.68 M in assets, while XIC manages $33.90 B. XIC is the larger fund by AUM.
How are CDEF and XIC managed?
CDEF is actively managed by Manulife Investments. It does not track an index. XIC is passively managed by iShares. It tracks the S&P/TSX Capped Composite Total Return Index - CAD benchmark.
What sectors do CDEF and XIC emphasize?
CDEF is most exposed to Finance, Energy, and Non-Energy Materials. XIC is most exposed to Finance, Energy, and Non-Energy Materials.
Which ETF is attracting more investor flows: CDEF or XIC?
Year to date, CDEF has seen +$0.01 M in net flows, compared with +$8,683.86 M for XIC. XIC has attracted more net investor money so far.
How do the fees of CDEF and XIC compare?
CDEF has an expense ratio of 0.28%, while XIC has an expense ratio of 0.06%.
What are the top holdings of CDEF and XIC?
CDEF's largest holdings include Sun Life Financial, Inc., Great-West Lifeco, Inc., and Royal Bank of Canada. XIC's top holdings include Royal Bank of Canada, The Toronto-Dominion Bank, and Shopify, Inc..
Which ETF is more diversified: CDEF or XIC?
CDEF holds 65 securities, while XIC holds 219. On holdings count, XIC is the more diversified portfolio.
Recent articles about CDEF and XIC
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