VS
Harvest Low Volatility Canadian Equity Income ETF (HVOI) and Manulife Multifactor Canadian Large Cap Index ETF (MCLC) offer distinct profiles for Canadian ETF investors. A direct comparison shows that HVOI focuses its top 3 sector exposures on Finance, Energy, and Industrials, while MCLC leans towards Finance, Energy, and Non-Energy Materials. When evaluating costs, HVOI features a management fee (MER) of 0.65%, compared to 0.35% for MCLC. Performance-wise, HVOI has returned 9.25% year-to-date with -$10 M in net flows, whereas MCLC is at 17.52% with +$104 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
HVOI
MCLC
| AuM | $45.18 M | $543.13 M |
| Management Fees | 0.65% | 0.35% |
| Exp. ratio | 0.65% | 0.40% |
| Tracking Difference | - | -0.66% |
Historical performance and flows
As of September 2, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | HVOI | -1.32% | +2.87% | +9.25% | +15.45% | - |
MCLC | +0.95% | +3.13% | +17.52% | +31.20% | +92.60% | |
| Flows | HVOI | -$0 M | -$34 M | -$10 M | -$0 M | - |
MCLC | -$19 M | -$22 M | +$104 M | +$89 M | -$11 M |
HVOI vs MCLC exposure
Countries
HVOI
Canada
96.70%
MCLC
Canada
97.80%
Sectors
HVOI
Finance
39.27%
Energy
13.46%
Industrials
9.86%
Utilities
7.70%
Consumer Non-Cyclicals
7.61%
Other
22.10%
MCLC
Finance
39.16%
Energy
20.70%
Non-Energy Materials
14.92%
Other
25.22%
As of September 2, 2026
Top 10 Holdings
HVOI
Bank of Montreal
4.29%
The Bank of Nova Scotia
4.23%
The Toronto-Dominion Bank
4.16%
Canadian Imperial Bank of Commerce
4.11%
National Bank of Canada
4.04%
Royal Bank of Canada
4.01%
Canadian Pacific Kansas City Ltd.
3.94%
Sun Life Financial, Inc.
3.91%
Canadian National Railway Co.
3.83%
Fortis, Inc.
3.55%
MCLC
Royal Bank of Canada
4.46%
The Toronto-Dominion Bank
4.34%
Suncor Energy, Inc.
4.18%
Cenovus Energy, Inc.
3.85%
Sun Life Financial, Inc.
3.67%
Bank of Montreal
3.48%
The Bank of Nova Scotia
3.22%
Brookfield Corp.
3.20%
Canadian Imperial Bank of Commerce
3.20%
Canadian Natural Resources Ltd.
2.86%
Diversification
HVOI
Total weight of top 10 holdings out of 40 total
40.09%
MCLC
Total weight of top 10 holdings out of 80 total
36.45%
Characteristics
Compare
HVOI
MCLC
| Provider | Harvest Portfolios Group | 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 | 6.85% | 1.63% |
| Meets ESG criteria | No | No |
| Inception Date | April 15, 2025 | April 17, 2017 |
Frequently asked questions about HVOI and MCLC
Which ETF has performed better year to date: HVOI or MCLC?
As of September 2, 2026, HVOI has returned 9.25% year to date, while MCLC has returned 17.52%. MCLC is ahead on YTD performance.
Which ETF is larger by assets under management: HVOI or MCLC?
As of September 2, 2026, HVOI manages $45.18 M in assets, while MCLC manages $543.13 M. MCLC is the larger fund by AUM.
How are HVOI and MCLC managed?
HVOI is actively managed by Harvest Portfolios Group. 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 HVOI and MCLC emphasize?
HVOI is most exposed to Finance, Energy, and Industrials. MCLC is most exposed to Finance, Energy, and Non-Energy Materials.
Which ETF is attracting more investor flows: HVOI or MCLC?
Year to date, HVOI has seen -$9.56 M in net flows, compared with +$103.92 M for MCLC. MCLC has attracted more net investor money so far.
How do the fees of HVOI and MCLC compare?
HVOI has an expense ratio of 0.65%, while MCLC has an expense ratio of 0.40%.
What are the top holdings of HVOI and MCLC?
HVOI's largest holdings include Bank of Montreal, The Bank of Nova Scotia, and The Toronto-Dominion Bank. MCLC's top holdings include Royal Bank of Canada, The Toronto-Dominion Bank, and Suncor Energy, Inc..
Which ETF is more diversified: HVOI or MCLC?
HVOI holds 40 securities, while MCLC holds 80. On holdings count, MCLC 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.