VS
TD Q Canadian Low Volatility ETF (TCLV) and Harvest Low Volatility Canadian Equity Income ETF (HVOI) offer distinct profiles for Canadian ETF investors. A direct comparison shows that TCLV focuses its top 3 sector exposures on Finance, Consumer Non-Cyclicals, and Utilities, while HVOI leans towards Finance, Energy, and Industrials. When evaluating costs, TCLV features a management fee (MER) of 0.3%, compared to 0.65% for HVOI. Performance-wise, TCLV has returned 7.91% year-to-date with +$35 M in net flows, whereas HVOI is at 10.95% with -$10 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
TCLV
HVOI
| AuM | $124.17 M | $45.44 M |
| Management Fees | 0.30% | 0.65% |
| Exp. ratio | 0.34% | 0.65% |
| Tracking Difference | - | - |
Historical performance and flows
As of August 17, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | TCLV | -1.98% | +4.82% | +7.91% | +14.01% | +64.55% |
HVOI | -0.49% | +5.67% | +10.95% | +19.06% | - | |
| Flows | TCLV | +$3 M | +$4 M | +$35 M | +$52 M | +$68 M |
HVOI | -$21 M | -$34 M | -$10 M | -$1 M | - |
TCLV vs HVOI exposure
Countries
TCLV
Canada
97.92%
HVOI
Canada
97.03%
Sectors
TCLV
Finance
29.74%
Consumer Non-Cyclicals
17.93%
Utilities
15.34%
Energy
11.18%
Other
25.82%
HVOI
Finance
40.04%
Energy
12.83%
Industrials
9.78%
Utilities
7.89%
Consumer Non-Cyclicals
7.55%
Other
21.90%
As of August 17, 2026
Top 10 Holdings
TCLV
The Toronto-Dominion Bank
5.31%
Fortis, Inc.
5.15%
Loblaw Cos. Ltd.
5.04%
Emera, Inc.
4.34%
Intact Financial Corp.
4.23%
Hydro One Ltd.
4.10%
Alimentation Couche-Tard, Inc.
3.89%
Dollarama, Inc.
3.44%
Great-West Lifeco, Inc.
3.44%
Royal Bank of Canada
3.41%
HVOI
Bank of Montreal
4.35%
The Toronto-Dominion Bank
4.32%
Royal Bank of Canada
4.32%
The Bank of Nova Scotia
4.30%
National Bank of Canada
4.26%
Canadian Imperial Bank of Commerce
4.10%
Canadian Pacific Kansas City Ltd.
3.96%
Sun Life Financial, Inc.
3.80%
Canadian National Railway Co.
3.70%
Fortis, Inc.
3.67%
Diversification
TCLV
Total weight of top 10 holdings out of 55 total
42.35%
HVOI
Total weight of top 10 holdings out of 40 total
40.78%
Characteristics
Compare
TCLV
HVOI
| Provider | TD Asset Management | Harvest Portfolios Group |
| Management | Actively managed | Actively managed |
| Benchmark | - | - |
| Replication Method | ||
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 1.51% | 6.71% |
| Meets ESG criteria | No | No |
| Inception Date | June 2, 2020 | April 15, 2025 |
Frequently asked questions about TCLV and HVOI
Which ETF has performed better year to date: TCLV or HVOI?
As of August 17, 2026, TCLV has returned 7.91% year to date, while HVOI has returned 10.95%. HVOI is ahead on YTD performance.
Which ETF is larger by assets under management: TCLV or HVOI?
As of August 17, 2026, TCLV manages $124.17 M in assets, while HVOI manages $45.44 M. TCLV is the larger fund by AUM.
How are TCLV and HVOI managed?
TCLV is actively managed by TD Asset Management. It does not track an index. HVOI is actively managed by Harvest Portfolios Group. It does not track an index.
What sectors do TCLV and HVOI emphasize?
TCLV is most exposed to Finance, Consumer Non-Cyclicals, and Utilities. HVOI is most exposed to Finance, Energy, and Industrials.
Which ETF is attracting more investor flows: TCLV or HVOI?
Year to date, TCLV has seen +$34.86 M in net flows, compared with -$10.28 M for HVOI. TCLV has attracted more net investor money so far.
How do the fees of TCLV and HVOI compare?
TCLV has an expense ratio of 0.34%, while HVOI has an expense ratio of 0.65%.
What are the top holdings of TCLV and HVOI?
TCLV's largest holdings include The Toronto-Dominion Bank, Fortis, Inc., and Loblaw Cos. Ltd.. HVOI's top holdings include Bank of Montreal, The Toronto-Dominion Bank, and Royal Bank of Canada.
Which ETF is more diversified: TCLV or HVOI?
TCLV holds 55 securities, while HVOI holds 40. On holdings count, TCLV is the more diversified portfolio.
Recent articles about TCLV and HVOI
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.