VS
Manulife Smart U.S. Defensive Equity ETF (UDEF.U) and Fidelity U.S. Dividend for Rising Rates Index ETF (FCRR) offer distinct profiles for Canadian ETF investors. A direct comparison shows that UDEF.U 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.U features a management fee (MER) of 0.28%, compared to 0.35% for FCRR. Performance-wise, UDEF.U has returned 9.25% year-to-date with -$0 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.U
FCRR
| AuM | $1.78 M | $37.85 M |
| Management Fees | 0.28% | 0.35% |
| Exp. ratio | 0.40% | 0.39% |
| Tracking Difference | - | -0.87% |
Historical performance and flows
As of June 11, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | UDEF.U | +3.75% | +6.94% | +9.25% | +14.16% | +41.76% |
FCRR | +4.12% | +11.30% | +12.30% | +31.72% | +82.07% | |
| Flows | UDEF.U | -$0 M | +$0 M | -$0 M | +$0 M | -$1 M |
FCRR | -$1 M | -$3 M | -$0 M | -$1 M | -$37 M |
UDEF.U vs FCRR exposure
Countries
UDEF.U
USA
92.12%
Other
7.88%
FCRR
USA
95.00%
Sectors
UDEF.U
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.U
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.U
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.U
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 | 0.00% | 1.52% |
| Meets ESG criteria | No | No |
| Inception Date | November 9, 2022 | September 18, 2018 |
Frequently asked questions about UDEF.U and FCRR
Which ETF has performed better year to date: UDEF.U or FCRR?
As of June 11, 2026, UDEF.U has returned 9.25% year to date, while FCRR has returned 12.30%. FCRR is ahead on YTD performance.
Which ETF is larger by assets under management: UDEF.U or FCRR?
As of June 11, 2026, UDEF.U manages $1.78 M in assets, while FCRR manages $37.85 M. FCRR is the larger fund by AUM.
How are UDEF.U and FCRR managed?
UDEF.U 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.U and FCRR emphasize?
UDEF.U 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.U or FCRR?
Year to date, UDEF.U has seen -$0.00 M in net flows, compared with -$0.10 M for FCRR. UDEF.U has attracted more net investor money so far.
How do the fees of UDEF.U and FCRR compare?
UDEF.U has an expense ratio of 0.40%, while FCRR has an expense ratio of 0.39%.
What are the top holdings of UDEF.U and FCRR?
UDEF.U'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.U or FCRR?
UDEF.U holds 163 securities, while FCRR holds 95. On holdings count, UDEF.U is the more diversified portfolio.
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