VS
Fidelity U.S. Value Index ETF (FCUV) and Mackenzie US Low Volatility ETF (MULV) offer distinct profiles for Canadian ETF investors. A direct comparison shows that FCUV focuses its top 3 sector exposures on Information Technology, Consumer Discretionary, and Financials, while MULV leans towards Information Technology, Health Care, and Financials. When evaluating costs, FCUV features a management fee (MER) of 0.35%, compared to 0.45% for MULV. Performance-wise, FCUV has returned 12.72% year-to-date with +$992 M in net flows, whereas MULV is at 2.94% with +$1 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
FCUV
MULV
| AuM | $3,536.42 M | $58.30 M |
| Management Fees | 0.35% | 0.45% |
| Exp. ratio | 0.38% | 0.50% |
| Tracking Difference | -0.98% | - |
Historical performance and flows
As of June 10, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | FCUV | +3.38% | +12.07% | +12.72% | +37.53% | +101.95% |
MULV | +3.22% | +2.32% | +2.94% | +6.37% | - | |
| Flows | FCUV | +$202 M | +$537 M | +$992 M | +$1,651 M | +$2,632 M |
MULV | -$1 M | +$2 M | +$1 M | -$1 M | - |
FCUV vs MULV exposure
Countries
FCUV
USA
96.03%
MULV
USA
88.37%
Other
11.63%
Sectors
FCUV
Information Technology
30.64%
Consumer Discretionary
15.38%
Financials
14.27%
Industrials
13.81%
Materials
9.12%
Utilities
8.40%
Other
8.38%
MULV
Information Technology
29.06%
Health Care
12.32%
Financials
12.06%
Utilities
8.27%
Consumer Staples
8.26%
Industrials
7.38%
Other
22.65%
As of June 10, 2026
Top 10 Holdings
FCUV
NVIDIA
6.36%
CF INDUSTRIES HOLDINGS
5.19%
AMAZON.COM INC
5.09%
APPLE
4.92%
EDISON INTERNATIONAL
4.33%
PG&E
4.07%
MICROSOFT-T
3.96%
NEWMONT CORP
3.94%
BROADCOM LIMITED
2.45%
BERKSHIRE HATHWAY
2.44%
MULV
NVIDIA
2.51%
DUKE ENERGY
2.13%
CHUBB LTD
2.12%
MICROSOFT-T
1.93%
MASTERCARD
1.91%
TRAVELERS COS INC/THE
1.82%
REPUBLIC SVCS
1.80%
MCKESSON
1.59%
PROCTERGAMBLE
1.55%
VERIZON COMMUNICATIONS
1.54%
Diversification
FCUV
Total weight of top 10 holdings out of 87 total
42.75%
MULV
Total weight of top 10 holdings out of 199 total
18.90%
Characteristics
Compare
FCUV
MULV
| Provider | Fidelity | Mackenzie Investments |
| Management | Passively managed | Actively managed |
| Benchmark | Fidelity Canada U.S. Value GTR Index - CAD | - |
| Replication Method | Direct (Physical) | |
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 0.92% | 0.97% |
| Meets ESG criteria | No | Yes |
| Inception Date | June 10, 2020 | June 6, 2024 |
Frequently asked questions about FCUV and MULV
Which ETF has performed better year to date: FCUV or MULV?
As of June 10, 2026, FCUV has returned 12.72% year to date, while MULV has returned 2.94%. FCUV is ahead on YTD performance.
Which ETF is larger by assets under management: FCUV or MULV?
As of June 10, 2026, FCUV manages $3.54 B in assets, while MULV manages $58.30 M. FCUV is the larger fund by AUM.
How are FCUV and MULV managed?
FCUV is passively managed by Fidelity. It tracks the Fidelity Canada U.S. Value GTR Index - CAD benchmark. MULV is actively managed by Mackenzie Investments. It does not track an index.
What sectors do FCUV and MULV emphasize?
FCUV is most exposed to Information Technology, Consumer Discretionary, and Financials. MULV is most exposed to Information Technology, Health Care, and Financials.
Which ETF is attracting more investor flows: FCUV or MULV?
Year to date, FCUV has seen +$992.33 M in net flows, compared with +$1.08 M for MULV. FCUV has attracted more net investor money so far.
How do the fees of FCUV and MULV compare?
FCUV has an expense ratio of 0.38%, while MULV has an expense ratio of 0.50%.
What are the top holdings of FCUV and MULV?
FCUV's largest holdings include NVIDIA, CF INDUSTRIES HOLDINGS, and AMAZON.COM INC. MULV's top holdings include NVIDIA, DUKE ENERGY, and CHUBB LTD.
Which ETF is more diversified: FCUV or MULV?
FCUV holds 87 securities, while MULV holds 198. On holdings count, MULV is the more diversified portfolio.
Recent articles about FCUV and MULV
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