VS
Vanguard U.S. Dividend Appreciation Index ETF (VGG) and Manulife Smart U.S. Defensive Equity ETF (UDEF.U) offer distinct profiles for Canadian ETF investors. A direct comparison shows that VGG focuses its top 3 sector exposures on Technology, Finance, and Healthcare, while UDEF.U leans towards Technology, Finance, and Healthcare. When evaluating costs, VGG features a management fee (MER) of 0.28%, compared to 0.28% for UDEF.U. Performance-wise, VGG has returned 13.81% year-to-date with +$62 M in net flows, whereas UDEF.U is at 12.44% 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
VGG
UDEF.U
| AuM | $2,614.04 M | $2.56 M |
| Management Fees | 0.28% | 0.28% |
| Exp. ratio | 0.31% | 0.32% |
| Tracking Difference | - | - |
Historical performance and flows
As of October 23, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | VGG | +2.32% | +2.19% | +13.81% | +13.38% | +70.19% |
UDEF.U | +1.35% | +2.75% | +12.44% | +13.89% | +49.69% | |
| Flows | VGG | +$10 M | -$16 M | +$62 M | +$80 M | +$642 M |
UDEF.U | +$0 M | +$0 M | -$0 M | +$0 M | +$0 M |
VGG vs UDEF.U exposure
Countries
VGG
USA
95.30%
UDEF.U
USA
94.81%
Sectors
VGG
Technology
26.27%
Finance
20.43%
Healthcare
18.15%
Industrials
9.45%
Consumer Non-Cyclicals
8.87%
Other
16.82%
UDEF.U
Technology
33.51%
Finance
17.89%
Healthcare
13.42%
Industrials
10.30%
Other
24.89%
As of October 23, 2026
Top 10 Holdings
VGG
Microsoft Corp.
4.67%
Apple, Inc.
4.50%
Broadcom Inc.
4.34%
JPMorgan Chase & Co.
4.07%
Eli Lilly & Co.
3.90%
ExxonMobil Holdings Corp.
2.84%
Johnson & Johnson
2.73%
Visa, Inc.
2.50%
Mastercard, Inc.
2.03%
Walmart, Inc.
1.96%
UDEF.U
Fortinet, Inc.
2.07%
Apple, Inc.
2.04%
Mastercard, Inc.
2.03%
Johnson & Johnson
2.03%
Merck & Co., Inc.
2.02%
NVIDIA Corp.
2.02%
Microsoft Corp.
2.00%
JPMorgan Chase & Co.
1.98%
Bank of America Corp.
1.94%
Verizon Communications, Inc.
1.93%
Diversification
VGG
Total weight of top 10 holdings out of 333 total
33.53%
UDEF.U
Total weight of top 10 holdings out of 170 total
20.08%
Characteristics
Compare
VGG
UDEF.U
| Provider | Vanguard | Manulife Investments |
| Management | Passively managed | Actively managed |
| Benchmark | S&P U.S. Dividend Growers Index - USD | - |
| Replication Method | Other | - |
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 1.04% | 0.00% |
| Meets ESG criteria | No | No |
| Inception Date | August 2, 2013 | November 9, 2022 |
Frequently asked questions about VGG and UDEF.U
Which ETF has performed better year to date: VGG or UDEF.U?
As of October 23, 2026, VGG has returned 13.81% year to date, while UDEF.U has returned 12.44%. VGG is ahead on YTD performance.
Which ETF is larger by assets under management: VGG or UDEF.U?
As of October 23, 2026, VGG manages $2.61 B in assets, while UDEF.U manages $2.56 M. VGG is the larger fund by AUM.
How are VGG and UDEF.U managed?
VGG is passively managed by Vanguard. It tracks the S&P U.S. Dividend Growers Index - USD benchmark. UDEF.U is actively managed by Manulife Investments. It does not track an index.
What sectors do VGG and UDEF.U emphasize?
VGG is most exposed to Technology, Finance, and Healthcare. UDEF.U is most exposed to Technology, Finance, and Healthcare.
Which ETF is attracting more investor flows: VGG or UDEF.U?
Year to date, VGG has seen +$61.89 M in net flows, compared with -$0.00 M for UDEF.U. VGG has attracted more net investor money so far.
How do the fees of VGG and UDEF.U compare?
VGG has an expense ratio of 0.31%, while UDEF.U has an expense ratio of 0.32%.
What are the top holdings of VGG and UDEF.U?
VGG's largest holdings include Microsoft Corp., Apple, Inc., and Broadcom Inc.. UDEF.U's top holdings include Fortinet, Inc., Apple, Inc., and Mastercard, Inc..
Which ETF is more diversified: VGG or UDEF.U?
VGG holds 331 securities, while UDEF.U holds 170. On holdings count, VGG is the more diversified portfolio.
Recent articles about VGG and UDEF.U
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