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Compare Harvest Low Volatility Canadian Equity ETF (HVOL) vs iShares Edge MSCI Min Vol Canada Index ETF (XMV) to find the best fit for your portfolio. HVOL provides Financials, Energy, and Utilities exposures, while XMV is primarily weighted in Financials, Energy, and Materials. When evaluating costs, HVOL features a management fee (MER) of 0.35%, compared to 0.3% for XMV. Performance-wise, HVOL has returned 5.83% year-to-date with +$2 M in net flows, whereas XMV is at 5.76% with +$11 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
HVOL
XMV
| AuM | $7.04 M | $400.66 M |
| Management Fees | 0.35% | 0.30% |
| Exp. ratio | 0.35% | 0.34% |
| Tracking Difference | - | -0.45% |
Historical performance and flows
As of April 23, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | HVOL | +4.51% | +3.61% | +5.83% | +21.81% | - |
XMV | +4.15% | +3.86% | +5.76% | +23.39% | +59.05% | |
| Flows | HVOL | +$1 M | +$0 M | +$2 M | +$5 M | - |
XMV | +$3 M | +$8 M | +$11 M | +$44 M | +$98 M |
HVOL vs XMV exposure
Countries
HVOL
Canada
93.10%
XMV
Canada
99.72%
Sectors
HVOL
Financials
36.90%
Energy
13.00%
Other
10.00%
Industrials
8.00%
Utilities
8.00%
Materials
7.80%
Other
16.30%
XMV
Financials
30.96%
Energy
14.63%
Materials
10.97%
Other
8.89%
Utilities
7.77%
Consumer Staples
7.35%
Other
19.42%
As of April 23, 2026
Top 10 Holdings
HVOL
TORONTO DOMINION
4.10%
BNS
4.00%
NATIONAL BANK OF CANADA
4.00%
CANADIAN PACIFIC RAILWAY
4.00%
BANK OF MONTREAL
3.90%
CDN IMPERIAL BK
3.90%
ROYAL BK CANADA
3.90%
FORTIS
3.50%
TC ENERGY CORP
3.30%
ENBRIDGE
3.30%
XMV
SUNCOR ENERGY
3.27%
ENBRIDGE
3.21%
NATIONAL BANK OF CANADA
3.11%
CDN IMPERIAL BK
2.99%
FORTIS
2.98%
TORONTO DOMINION
2.98%
GREAT WEST LIFECO
2.93%
BANK OF MONTREAL
2.92%
ROYAL BK CANADA
2.91%
CDN NATL RAILWAY
2.83%
Diversification
HVOL
Total weight of top 10 holdings out of 37 total
37.90%
XMV
Total weight of top 10 holdings out of 71 total
30.12%
Characteristics
Compare
HVOL
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 | 1.82% | 2.16% |
| Meets ESG criteria | No | No |
| Inception Date | April 15, 2025 | July 24, 2012 |
Frequently asked questions about HVOL and XMV
Which ETF has performed better year to date: HVOL or XMV?
As of April 23, 2026, HVOL has returned 5.83% year to date, while XMV has returned 5.76%. HVOL is ahead on YTD performance.
Which ETF is larger by assets under management: HVOL or XMV?
As of April 23, 2026, HVOL manages $7.04 M in assets, while XMV manages $400.66 M. XMV is the larger fund by AUM.
How are HVOL and XMV managed?
HVOL 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 HVOL and XMV emphasize?
HVOL is most exposed to Financials, Energy, and Utilities. XMV is most exposed to Financials, Energy, and Materials.
Which ETF is attracting more investor flows: HVOL or XMV?
Year to date, HVOL has seen +$1.82 M in net flows, compared with +$11.14 M for XMV. XMV has attracted more net investor money so far.
How do the fees of HVOL and XMV compare?
HVOL has an expense ratio of 0.35%, while XMV has an expense ratio of 0.34%.
What are the top holdings of HVOL and XMV?
HVOL's largest holdings include TORONTO DOMINION, BNS, and NATIONAL BANK OF CANADA. XMV's top holdings include SUNCOR ENERGY and ENBRIDGE.
Which ETF is more diversified: HVOL or XMV?
HVOL holds 37 securities, while XMV holds 64. On holdings count, XMV 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.