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iShares MSCI EAFE Minimum Volatility Index ETF (XMI) and Manulife Smart International Defensive Equity ETF (IDEF.B) offer distinct profiles for Canadian ETF investors. A direct comparison shows that XMI focuses its top 3 sector exposures on Finance, Consumer Non-Cyclicals, and Healthcare, while IDEF.B leans towards Finance, Industrials, and Consumer Non-Cyclicals. When evaluating costs, XMI features a management fee (MER) of 0.35%, compared to 0.35% for IDEF.B. Performance-wise, XMI has returned 12.1% year-to-date with -$14 M in net flows, whereas IDEF.B is at 14.14% 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
XMI
IDEF.B
| AuM | $181.18 M | $4.00 M |
| Management Fees | 0.35% | 0.35% |
| Exp. ratio | 0.37% | 0.32% |
| Tracking Difference | - | - |
Historical performance and flows
As of September 2, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | XMI | +0.21% | +6.35% | +12.10% | +14.99% | +55.63% |
IDEF.B | -0.19% | +4.78% | +14.14% | +16.70% | +55.29% | |
| Flows | XMI | +$0 M | +$0 M | -$14 M | -$14 M | -$16 M |
IDEF.B | +$0 M | -$0 M | -$0 M | -$0 M | -$0 M |
XMI vs IDEF.B exposure
Countries
XMI
Japan
27.19%
Switzerland
10.35%
United Kingdom
10.13%
Other
52.33%
IDEF.B
Japan
20.02%
United Kingdom
13.57%
Switzerland
9.62%
Other
56.80%
Sectors
XMI
Finance
23.19%
Consumer Non-Cyclicals
13.71%
Healthcare
11.59%
Industrials
10.85%
Energy
8.94%
Telecommunications
8.37%
Other
23.36%
IDEF.B
Finance
22.38%
Industrials
14.01%
Consumer Non-Cyclicals
13.43%
Technology
8.48%
Energy
8.28%
Telecommunications
7.94%
Other
25.48%
As of September 2, 2026
Top 10 Holdings
XMI
SECOM Co., Ltd.
1.59%
Iberdrola SA
1.51%
Takeda Pharmaceutical Co., Ltd.
1.47%
Shell Plc
1.46%
DBS Group Holdings Ltd.
1.46%
Eni SpA
1.43%
Equinor ASA
1.43%
Novartis AG
1.40%
BOC Hong Kong (Holdings) Ltd.
1.37%
TotalEnergies SE
1.35%
IDEF.B
DBS Group Holdings Ltd.
2.25%
Shell Plc
2.03%
ASML Holding NV
1.98%
Oversea-Chinese Banking Corp. Ltd.
1.78%
TotalEnergies SE
1.65%
ABB Ltd.
1.63%
Auckland International Airport Ltd.
1.55%
HKT Trust & HKT Ltd.
1.53%
HSBC Holdings Plc
1.53%
Orange SA
1.52%
Diversification
XMI
Total weight of top 10 holdings out of 254 total
14.47%
IDEF.B
Total weight of top 10 holdings out of 153 total
17.43%
Characteristics
Compare
XMI
IDEF.B
| Provider | iShares | Manulife Investments |
| Management | Passively managed | Actively managed |
| Benchmark | MSCI EAFE Minimum Volatility Net Total Return Index - USD | - |
| Replication Method | ||
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 2.55% | 1.31% |
| Meets ESG criteria | No | No |
| Inception Date | July 24, 2012 | November 9, 2022 |
Frequently asked questions about XMI and IDEF.B
Which ETF has performed better year to date: XMI or IDEF.B?
As of September 2, 2026, XMI has returned 12.10% year to date, while IDEF.B has returned 14.14%. IDEF.B is ahead on YTD performance.
Which ETF is larger by assets under management: XMI or IDEF.B?
As of September 2, 2026, XMI manages $181.18 M in assets, while IDEF.B manages $4.00 M. XMI is the larger fund by AUM.
How are XMI and IDEF.B managed?
XMI is passively managed by iShares. It tracks the MSCI EAFE Minimum Volatility Net Total Return Index - USD benchmark. IDEF.B is actively managed by Manulife Investments. It does not track an index.
What sectors do XMI and IDEF.B emphasize?
XMI is most exposed to Finance, Consumer Non-Cyclicals, and Healthcare. IDEF.B is most exposed to Finance, Industrials, and Consumer Non-Cyclicals.
Which ETF is attracting more investor flows: XMI or IDEF.B?
Year to date, XMI has seen -$13.72 M in net flows, compared with -$0.00 M for IDEF.B. IDEF.B has attracted more net investor money so far.
How do the fees of XMI and IDEF.B compare?
XMI has an expense ratio of 0.37%, while IDEF.B has an expense ratio of 0.32%.
What are the top holdings of XMI and IDEF.B?
XMI's largest holdings include SECOM Co., Ltd., Iberdrola SA, and Takeda Pharmaceutical Co., Ltd.. IDEF.B's top holdings include DBS Group Holdings Ltd., Shell Plc, and ASML Holding NV.
Which ETF is more diversified: XMI or IDEF.B?
XMI holds 251 securities, while IDEF.B holds 153. On holdings count, XMI is the more diversified portfolio.
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