VS
Manulife Smart U.S. Defensive Equity ETF (UDEF) and CI U.S. Enhanced Value Index ETF (CVLU.B) offer distinct profiles for Canadian ETF investors. A direct comparison shows that UDEF focuses its top 3 sector exposures on Information Technology, Health Care, and Financials, while CVLU.B leans towards Information Technology, Health Care, and Financials. When evaluating costs, UDEF features a management fee (MER) of 0.33%, compared to 0.3% for CVLU.B. Performance-wise, UDEF has returned 8.54% year-to-date with +$1 M in net flows, whereas CVLU.B is at 12.26% with -$34 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
UDEF
CVLU.B
| AuM | $2.88 M | $54.67 M |
| Management Fees | 0.33% | 0.30% |
| Exp. ratio | 0.37% | 0.32% |
| Tracking Difference | - | - |
Historical performance and flows
As of June 11, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | UDEF | +3.86% | +6.76% | +8.54% | +14.19% | +42.25% |
CVLU.B | +5.23% | +12.62% | +12.26% | +31.74% | - | |
| Flows | UDEF | -$0 M | -$0 M | +$1 M | +$1 M | +$0 M |
CVLU.B | +$0 M | +$1 M | -$34 M | -$63 M | - |
UDEF vs CVLU.B exposure
Countries
UDEF
USA
92.12%
Other
7.88%
CVLU.B
USA
95.82%
Sectors
UDEF
Information Technology
31.89%
Health Care
12.13%
Financials
11.61%
Industrials
11.55%
Communication Services
7.27%
Other
25.54%
CVLU.B
Information Technology
27.02%
Health Care
13.83%
Financials
12.60%
Industrials
9.97%
Communication Services
9.33%
Consumer Discretionary
7.71%
Other
19.55%
As of June 11, 2026
Top 10 Holdings
UDEF
APPLIED MATERIAL
2.21%
VERIZON COMMUNICATIONS
2.20%
JOHNSON&JOHNSON
2.13%
ANALOG DEVICES
2.02%
MICROSOFT-T
1.93%
APPLE
1.91%
VISA INCORPORATION
1.91%
MASTERCARD
1.91%
MCDONALD'S
1.90%
MERCK & CO INC
1.89%
CVLU.B
APPLE
6.24%
MICROSOFT-T
5.28%
ALPHABET INC-CL
3.49%
META PLATFORMS
1.94%
MICRON TECHNOLOGY
1.70%
JOHNSON&JOHNSON
1.63%
AMAZON.COM INC
1.62%
UNITEDHEALTH GRP
1.37%
JPMORGAN CHASE
1.30%
CISCO-T
1.29%
Diversification
UDEF
Total weight of top 10 holdings out of 167 total
20.00%
CVLU.B
Total weight of top 10 holdings out of 866 total
25.86%
Characteristics
Compare
UDEF
CVLU.B
| Provider | Manulife Investments | CI |
| Management | Actively managed | Passively managed |
| Benchmark | - | VettaFi US Enhanced Value Index - USD |
| Replication Method | Direct (Physical) | |
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 1.16% | 1.27% |
| Meets ESG criteria | No | No |
| Inception Date | November 10, 2021 | January 16, 2024 |
Frequently asked questions about UDEF and CVLU.B
Which ETF has performed better year to date: UDEF or CVLU.B?
As of June 11, 2026, UDEF has returned 8.54% year to date, while CVLU.B has returned 12.26%. CVLU.B is ahead on YTD performance.
Which ETF is larger by assets under management: UDEF or CVLU.B?
As of June 11, 2026, UDEF manages $2.88 M in assets, while CVLU.B manages $54.67 M. CVLU.B is the larger fund by AUM.
How are UDEF and CVLU.B managed?
UDEF is actively managed by Manulife Investments. It does not track an index. CVLU.B is passively managed by CI. It tracks the VettaFi US Enhanced Value Index - USD benchmark.
What sectors do UDEF and CVLU.B emphasize?
UDEF is most exposed to Information Technology, Health Care, and Financials. CVLU.B is most exposed to Information Technology, Health Care, and Financials.
Which ETF is attracting more investor flows: UDEF or CVLU.B?
Year to date, UDEF has seen +$1.39 M in net flows, compared with -$34.34 M for CVLU.B. UDEF has attracted more net investor money so far.
How do the fees of UDEF and CVLU.B compare?
UDEF has an expense ratio of 0.37%, while CVLU.B has an expense ratio of 0.32%.
What are the top holdings of UDEF and CVLU.B?
UDEF's largest holdings include APPLIED MATERIAL and VERIZON COMMUNICATIONS. CVLU.B's top holdings include APPLE, MICROSOFT-T, and ALPHABET INC-CL.
Which ETF is more diversified: UDEF or CVLU.B?
UDEF holds 163 securities, while CVLU.B holds 813. On holdings count, CVLU.B is the more diversified portfolio.
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