VS
Manulife Smart U.S. Defensive Equity ETF (UDEF) and Fidelity U.S. Dividend for Rising Rates Index ETF (FCRR) 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 FCRR leans towards Information Technology, Financials, and Communication Services. When evaluating costs, UDEF features a management fee (MER) of 0.33%, compared to 0.35% for FCRR. Performance-wise, UDEF has returned 8.54% year-to-date with +$1 M in net flows, whereas FCRR is at 12.3% with -$0 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
FCRR
| AuM | $2.88 M | $37.85 M |
| Management Fees | 0.33% | 0.35% |
| Exp. ratio | 0.37% | 0.39% |
| Tracking Difference | - | -0.87% |
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% |
FCRR | +4.12% | +11.30% | +12.30% | +31.72% | +82.07% | |
| Flows | UDEF | -$0 M | -$0 M | +$1 M | +$1 M | +$0 M |
FCRR | -$1 M | -$3 M | -$0 M | -$1 M | -$37 M |
UDEF vs FCRR exposure
Countries
UDEF
USA
92.12%
Other
7.88%
FCRR
USA
95.00%
Sectors
UDEF
Information Technology
31.89%
Health Care
12.13%
Financials
11.61%
Industrials
11.55%
Communication Services
7.27%
Other
25.54%
FCRR
Information Technology
35.01%
Financials
11.07%
Communication Services
10.31%
Health Care
9.25%
Consumer Discretionary
8.63%
Industrials
7.95%
Other
17.76%
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%
FCRR
NVIDIA
8.21%
APPLE
6.35%
ALPHABET INC-CL
5.78%
MICROSOFT-T
5.11%
BROADCOM LIMITED
3.14%
META PLATFORMS
2.38%
JPMORGAN CHASE
2.03%
EXXON
1.58%
CATERPILLAR
1.53%
LILLY
1.46%
Diversification
UDEF
Total weight of top 10 holdings out of 167 total
20.00%
FCRR
Total weight of top 10 holdings out of 97 total
37.56%
Characteristics
Compare
UDEF
FCRR
| Provider | Manulife Investments | Fidelity |
| Management | Actively managed | Passively managed |
| Benchmark | - | Fidelity Canada U.S. Dividend for Rising Rates Index TR - CAD |
| Replication Method | Direct (Physical) | |
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 1.16% | 1.52% |
| Meets ESG criteria | No | No |
| Inception Date | November 10, 2021 | September 18, 2018 |
Frequently asked questions about UDEF and FCRR
Which ETF has performed better year to date: UDEF or FCRR?
As of June 11, 2026, UDEF has returned 8.54% year to date, while FCRR has returned 12.30%. FCRR is ahead on YTD performance.
Which ETF is larger by assets under management: UDEF or FCRR?
As of June 11, 2026, UDEF manages $2.88 M in assets, while FCRR manages $37.85 M. FCRR is the larger fund by AUM.
How are UDEF and FCRR managed?
UDEF is actively managed by Manulife Investments. It does not track an index. FCRR is passively managed by Fidelity. It tracks the Fidelity Canada U.S. Dividend for Rising Rates Index TR - CAD benchmark.
What sectors do UDEF and FCRR emphasize?
UDEF is most exposed to Information Technology, Health Care, and Financials. FCRR is most exposed to Information Technology, Financials, and Communication Services.
Which ETF is attracting more investor flows: UDEF or FCRR?
Year to date, UDEF has seen +$1.39 M in net flows, compared with -$0.10 M for FCRR. UDEF has attracted more net investor money so far.
How do the fees of UDEF and FCRR compare?
UDEF has an expense ratio of 0.37%, while FCRR has an expense ratio of 0.39%.
What are the top holdings of UDEF and FCRR?
UDEF's largest holdings include APPLIED MATERIAL and VERIZON COMMUNICATIONS. FCRR's top holdings include NVIDIA, APPLE, and ALPHABET INC-CL.
Which ETF is more diversified: UDEF or FCRR?
UDEF holds 163 securities, while FCRR holds 95. On holdings count, UDEF is the more diversified portfolio.
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