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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 Finance, Energy, and Industrials exposures, while XMV is primarily weighted in Finance, Energy, and Consumer Non-Cyclicals. When evaluating costs, HVOL features a management fee (MER) of 0.35%, compared to 0.3% for XMV. Performance-wise, HVOL has returned 13.89% year-to-date with -$0 M in net flows, whereas XMV is at 13.37% with -$19 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 | $5.16 M | $396.43 M |
| Management Fees | 0.35% | 0.30% |
| Exp. ratio | 0.35% | 0.34% |
| Tracking Difference | - | -0.46% |
Historical performance and flows
As of July 24, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | HVOL | +1.83% | +7.72% | +13.89% | +22.69% | - |
XMV | +2.37% | +7.19% | +13.37% | +23.64% | +72.38% | |
| Flows | HVOL | -$3 M | -$2 M | -$0 M | +$1 M | - |
XMV | -$36 M | -$30 M | -$19 M | +$2 M | +$70 M |
HVOL vs XMV exposure
Countries
HVOL
Canada
95.02%
XMV
Canada
94.92%
Sectors
HVOL
Finance
39.95%
Energy
12.53%
Industrials
9.48%
Utilities
7.69%
Consumer Non-Cyclicals
7.26%
Other
23.09%
XMV
Finance
37.66%
Energy
13.56%
Consumer Non-Cyclicals
9.66%
Industrials
8.39%
Non-Energy Materials
7.53%
Utilities
7.48%
Other
15.71%
As of July 24, 2026
Top 10 Holdings
HVOL
Royal Bank of Canada
4.69%
The Toronto-Dominion Bank
4.66%
The Bank of Nova Scotia
4.51%
National Bank of Canada
4.17%
Bank of Montreal
4.17%
Canadian Imperial Bank of Commerce
4.16%
Canadian Pacific Kansas City Ltd.
3.86%
Sun Life Financial, Inc.
3.65%
Fortis, Inc.
3.56%
Canadian National Railway Co.
3.52%
XMV
Bank of Montreal
3.44%
Royal Bank of Canada
3.38%
The Toronto-Dominion Bank
3.38%
The Bank of Nova Scotia
3.37%
Great-West Lifeco, Inc.
3.23%
Canadian National Railway Co.
3.15%
Canadian Imperial Bank of Commerce
3.07%
Fortis, Inc.
3.05%
National Bank of Canada
2.95%
Canadian Pacific Kansas City Ltd.
2.90%
Diversification
HVOL
Total weight of top 10 holdings out of 40 total
40.94%
XMV
Total weight of top 10 holdings out of 72 total
31.93%
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 | 1.70% | 2.04% |
| 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 July 24, 2026, HVOL has returned 13.89% year to date, while XMV has returned 13.37%. HVOL is ahead on YTD performance.
Which ETF is larger by assets under management: HVOL or XMV?
As of July 24, 2026, HVOL manages $5.16 M in assets, while XMV manages $396.43 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 Finance, Energy, and Industrials. XMV is most exposed to Finance, Energy, and Consumer Non-Cyclicals.
Which ETF is attracting more investor flows: HVOL or XMV?
Year to date, HVOL has seen -$0.39 M in net flows, compared with -$19.18 M for XMV. HVOL 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 Royal Bank of Canada, The Toronto-Dominion Bank, and The Bank of Nova Scotia. XMV's top holdings include Bank of Montreal, Royal Bank of Canada, and The Toronto-Dominion Bank.
Which ETF is more diversified: HVOL or XMV?
HVOL holds 40 securities, while XMV holds 72. 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.