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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 Non-Energy Materials. When evaluating costs, HVOL features a management fee (MER) of 0.35%, compared to 0.3% for XMV. Performance-wise, HVOL has returned 14.85% year-to-date with +$0 M in net flows, whereas XMV is at 14.29% with -$28 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 | $5.97 M | $388.14 M |
| Management Fees | 0.35% | 0.30% |
| Exp. ratio | 0.35% | 0.34% |
| Tracking Difference | - | -0.41% |
Historical performance and flows
As of October 23, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | HVOL | +3.95% | +1.70% | +14.85% | +18.60% | - |
XMV | +2.79% | +1.68% | +14.29% | +19.21% | +83.97% | |
| Flows | HVOL | +$1 M | +$1 M | +$0 M | -$1 M | - |
XMV | -$15 M | -$9 M | -$28 M | -$28 M | +$63 M |
HVOL vs XMV exposure
Countries
HVOL
Canada
96.19%
XMV
Canada
94.94%
Sectors
HVOL
Finance
39.31%
Energy
12.89%
Industrials
9.89%
Non-Energy Materials
7.52%
Utilities
7.18%
Other
23.20%
XMV
Finance
35.96%
Energy
16.24%
Non-Energy Materials
9.34%
Consumer Non-Cyclicals
8.91%
Industrials
7.70%
Other
21.86%
As of October 23, 2026
Top 10 Holdings
HVOL
The Bank of Nova Scotia
4.66%
The Toronto-Dominion Bank
4.55%
Royal Bank of Canada
4.54%
Canadian Pacific Kansas City Ltd.
4.06%
Canadian Imperial Bank of Commerce
4.02%
National Bank of Canada
3.98%
Bank of Montreal
3.95%
Canadian National Railway Co.
3.63%
Sun Life Financial, Inc.
3.59%
Fortis, Inc.
3.37%
XMV
The Bank of Nova Scotia
3.15%
The Toronto-Dominion Bank
3.09%
Enbridge, Inc.
3.05%
Royal Bank of Canada
2.98%
Fortis, Inc.
2.97%
Canadian Pacific Kansas City Ltd.
2.97%
Canadian National Railway Co.
2.96%
Bank of Montreal
2.93%
Canadian Imperial Bank of Commerce
2.91%
Great-West Lifeco, Inc.
2.87%
Diversification
HVOL
Total weight of top 10 holdings out of 40 total
40.35%
XMV
Total weight of top 10 holdings out of 70 total
29.88%
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% | 2.06% |
| 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 October 23, 2026, HVOL has returned 14.85% year to date, while XMV has returned 14.29%. HVOL is ahead on YTD performance.
Which ETF is larger by assets under management: HVOL or XMV?
As of October 23, 2026, HVOL manages $5.97 M in assets, while XMV manages $388.14 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 Non-Energy Materials.
Which ETF is attracting more investor flows: HVOL or XMV?
Year to date, HVOL has seen +$0.36 M in net flows, compared with -$28.14 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 The Bank of Nova Scotia, The Toronto-Dominion Bank, and Royal Bank of Canada. XMV's top holdings include The Bank of Nova Scotia, The Toronto-Dominion Bank, and Enbridge, Inc..
Which ETF is more diversified: HVOL or XMV?
HVOL holds 40 securities, while XMV holds 70. 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.