VS
Harvest Low Volatility Canadian Equity Income ETF (HVOI) and iShares Edge MSCI Min Vol Canada Index ETF (XMV) 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 XMV leans towards Finance, Energy, and Consumer Non-Cyclicals. When evaluating costs, HVOI features a management fee (MER) of 0.65%, compared to 0.3% for XMV. Performance-wise, HVOI has returned 9.25% year-to-date with -$10 M in net flows, whereas XMV is at 12.11% with -$16 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
XMV
| AuM | $45.18 M | $395.08 M |
| Management Fees | 0.65% | 0.30% |
| Exp. ratio | 0.65% | 0.34% |
| Tracking Difference | - | -0.44% |
Historical performance and flows
As of September 1, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | HVOI | -1.32% | +2.87% | +9.25% | +15.45% | - |
XMV | -1.67% | +4.33% | +12.11% | +19.62% | +72.81% | |
| Flows | HVOI | -$0 M | -$34 M | -$10 M | -$0 M | - |
XMV | +$3 M | -$33 M | -$16 M | -$0 M | +$82 M |
HVOI vs XMV exposure
Countries
HVOI
Canada
96.70%
XMV
Canada
95.00%
Sectors
HVOI
Finance
39.27%
Energy
13.46%
Industrials
9.86%
Utilities
7.70%
Consumer Non-Cyclicals
7.61%
Other
22.10%
XMV
Finance
37.09%
Energy
14.44%
Consumer Non-Cyclicals
9.63%
Industrials
8.22%
Non-Energy Materials
7.54%
Utilities
7.31%
Other
15.78%
As of September 1, 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%
XMV
Bank of Montreal
3.34%
Royal Bank of Canada
3.30%
The Bank of Nova Scotia
3.28%
Canadian National Railway Co.
3.23%
The Toronto-Dominion Bank
3.20%
Great-West Lifeco, Inc.
3.19%
Canadian Imperial Bank of Commerce
3.03%
Fortis, Inc.
2.94%
National Bank of Canada
2.91%
Canadian Pacific Kansas City Ltd.
2.83%
Diversification
HVOI
Total weight of top 10 holdings out of 40 total
40.09%
XMV
Total weight of top 10 holdings out of 72 total
31.24%
Characteristics
Compare
HVOI
XMV
| Provider | Harvest Portfolios Group | iShares |
| Management | Actively managed | Passively managed |
| Benchmark | - | MSCI Canada Minimum Volatility Total Return Index - CAD |
| Replication Method | Direct (Physical) | |
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 6.85% | 2.07% |
| Meets ESG criteria | No | No |
| Inception Date | April 15, 2025 | July 24, 2012 |
Frequently asked questions about HVOI and XMV
Which ETF has performed better year to date: HVOI or XMV?
As of September 1, 2026, HVOI has returned 9.25% year to date, while XMV has returned 12.11%. XMV is ahead on YTD performance.
Which ETF is larger by assets under management: HVOI or XMV?
As of September 1, 2026, HVOI manages $45.18 M in assets, while XMV manages $395.08 M. XMV is the larger fund by AUM.
How are HVOI and XMV managed?
HVOI is actively managed by Harvest Portfolios Group. It does not track an index. XMV is passively managed by iShares. It tracks the MSCI Canada Minimum Volatility Total Return Index - CAD benchmark.
What sectors do HVOI and XMV emphasize?
HVOI is most exposed to Finance, Energy, and Industrials. XMV is most exposed to Finance, Energy, and Consumer Non-Cyclicals.
Which ETF is attracting more investor flows: HVOI or XMV?
Year to date, HVOI has seen -$9.56 M in net flows, compared with -$16.08 M for XMV. HVOI has attracted more net investor money so far.
How do the fees of HVOI and XMV compare?
HVOI has an expense ratio of 0.65%, while XMV has an expense ratio of 0.34%.
What are the top holdings of HVOI and XMV?
HVOI's largest holdings include Bank of Montreal, The Bank of Nova Scotia, and The Toronto-Dominion Bank. XMV's top holdings include Bank of Montreal, Royal Bank of Canada, and The Bank of Nova Scotia.
Which ETF is more diversified: HVOI or XMV?
HVOI holds 40 securities, while XMV holds 72. On holdings count, XMV is the more diversified portfolio.
The ETF Market Canada is brought to you by Cboe in partnership with Trackinsight SA who is providing all the data, analysis and editorial content on this site. Unless explicitly stated as such, any information that you receive is not real-time.
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.
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.