VS
Compare iShares S&P/TSX Small Cap Index ETF (XCS) vs Manulife Multifactor Canadian SMID Cap Index ETF (MCSM) to find the best fit for your portfolio. XCS provides Non-Energy Materials, Energy, and Finance exposures, while MCSM is primarily weighted in Non-Energy Materials, Industrials, and Finance. When evaluating costs, XCS features a management fee (MER) of 0.55%, compared to 0.5% for MCSM. Performance-wise, XCS has returned 13.76% year-to-date with -$12 M in net flows, whereas MCSM is at 12.19% with -$132 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
XCS
MCSM
| AuM | $233.94 M | $323.16 M |
| Management Fees | 0.55% | 0.50% |
| Exp. ratio | 0.60% | 0.56% |
| Tracking Difference | -0.76% | -0.86% |
Historical performance and flows
As of November 2, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | XCS | -5.96% | -3.11% | +13.76% | +23.49% | +112.77% |
MCSM | -2.75% | -0.64% | +12.19% | +20.92% | +101.21% | |
| Flows | XCS | -$3 M | +$0 M | -$12 M | +$2 M | -$3 M |
MCSM | +$3 M | +$7 M | -$132 M | -$132 M | -$19 M |
XCS vs MCSM exposure
Countries
XCS
Canada
95.61%
MCSM
Canada
95.96%
Sectors
XCS
Non-Energy Materials
35.57%
Energy
19.59%
Finance
15.09%
Industrials
12.52%
Other
17.24%
MCSM
Non-Energy Materials
34.36%
Industrials
14.79%
Finance
14.20%
Energy
14.16%
Utilities
8.06%
Other
14.44%
As of November 2, 2026
Top 10 Holdings
XCS
Ero Copper Corp.
1.84%
Wesdome Gold Mines Ltd.
1.75%
Athabasca Oil Corp.
1.68%
Russel Metals, Inc.
1.67%
Kinaxis, Inc.
1.63%
Fortuna Mining Corp.
1.60%
Trekor Metals Ltd.
1.56%
Bird Construction, Inc.
1.53%
Baytex Energy Corp.
1.39%
Enerflex Ltd.
1.33%
MCSM
Finning International, Inc.
3.04%
CAE, Inc.
2.60%
The Descartes Systems Group, Inc.
2.43%
DPM Metals, Inc.
2.38%
Capstone Copper Corp.
2.22%
South Bow Corp.
2.13%
Capital Power Corp.
2.10%
B2Gold Corp.
2.02%
SSR Mining, Inc.
1.96%
Canadian Tire Corp. Ltd.
1.95%
Diversification
XCS
Total weight of top 10 holdings out of 233 total
15.98%
MCSM
Total weight of top 10 holdings out of 120 total
22.83%
Characteristics
Compare
XCS
MCSM
| Provider | iShares | Manulife Investments |
| Management | Passively managed | Passively managed |
| Benchmark | S&P/TSX Smallcap Total Return Index - CAD | John Hancock Dimensional Canadian SMID Cap Index Total Return - CAD |
| Replication Method | Direct (Physical) | Direct (Physical) |
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 1.65% | 1.77% |
| Meets ESG criteria | No | No |
| Inception Date | May 14, 2007 | November 27, 2017 |
Frequently asked questions about XCS and MCSM
Which ETF has performed better year to date: XCS or MCSM?
As of November 2, 2026, XCS has returned 13.76% year to date, while MCSM has returned 12.19%. XCS is ahead on YTD performance.
Which ETF is larger by assets under management: XCS or MCSM?
As of November 2, 2026, XCS manages $233.94 M in assets, while MCSM manages $323.16 M. MCSM is the larger fund by AUM.
How are XCS and MCSM managed?
XCS is passively managed by iShares. It tracks the S&P/TSX Smallcap Total Return Index - CAD benchmark. MCSM is passively managed by Manulife Investments. It tracks the John Hancock Dimensional Canadian SMID Cap Index Total Return - CAD benchmark.
What sectors do XCS and MCSM emphasize?
XCS is most exposed to Non-Energy Materials, Energy, and Finance. MCSM is most exposed to Non-Energy Materials, Industrials, and Finance.
Which ETF is attracting more investor flows: XCS or MCSM?
Year to date, XCS has seen -$12.37 M in net flows, compared with -$131.81 M for MCSM. XCS has attracted more net investor money so far.
How do the fees of XCS and MCSM compare?
XCS has an expense ratio of 0.60%, while MCSM has an expense ratio of 0.56%.
What are the top holdings of XCS and MCSM?
XCS's largest holdings include Ero Copper Corp., Wesdome Gold Mines Ltd., and Athabasca Oil Corp.. MCSM's top holdings include Finning International, Inc., CAE, Inc., and The Descartes Systems Group, Inc..
Which ETF is more diversified: XCS or MCSM?
XCS holds 232 securities, while MCSM holds 120. On holdings count, XCS is the more diversified portfolio.
Recent articles about XCS and MCSM
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