VS
iShares MSCI USA Minimum Volatility Index ETF (XMU) and Mackenzie US Low Volatility ETF (MULV) offer distinct profiles for Canadian ETF investors. A direct comparison shows that XMU focuses its top 3 sector exposures on Information Technology, Health Care, and Financials, while MULV leans towards Information Technology, Health Care, and Financials. When evaluating costs, XMU features a management fee (MER) of 0.3%, compared to 0.45% for MULV. Performance-wise, XMU has returned 4.04% year-to-date with -$59 M in net flows, whereas MULV is at 2.94% with +$1 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
XMU
MULV
| AuM | $330.27 M | $58.30 M |
| Management Fees | 0.30% | 0.45% |
| Exp. ratio | 0.33% | 0.50% |
| Tracking Difference | -0.08% | - |
Historical performance and flows
As of June 10, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | XMU | +4.19% | +3.56% | +4.04% | +6.62% | +41.91% |
MULV | +3.22% | +2.32% | +2.94% | +6.37% | - | |
| Flows | XMU | -$33 M | -$50 M | -$59 M | -$47 M | -$118 M |
MULV | -$1 M | +$2 M | +$1 M | -$1 M | - |
XMU vs MULV exposure
Countries
XMU
USA
93.64%
MULV
USA
88.37%
Other
11.63%
Sectors
XMU
Information Technology
30.32%
Health Care
12.68%
Financials
11.63%
Consumer Staples
9.95%
Utilities
7.61%
Other
27.80%
MULV
Information Technology
29.06%
Health Care
12.32%
Financials
12.06%
Utilities
8.27%
Consumer Staples
8.26%
Industrials
7.38%
Other
22.65%
As of June 10, 2026
Top 10 Holdings
XMU
CISCO-T
1.80%
NVIDIA
1.64%
EXXON
1.60%
MICROSOFT-T
1.56%
DUKE ENERGY
1.55%
SOUTHERN
1.53%
AMPHENOL
1.50%
CHUBB LTD
1.49%
VERIZON COMMUNICATIONS
1.49%
WASTE MANAGEMENT
1.47%
MULV
NVIDIA
2.51%
DUKE ENERGY
2.13%
CHUBB LTD
2.12%
MICROSOFT-T
1.93%
MASTERCARD
1.91%
TRAVELERS COS INC/THE
1.82%
REPUBLIC SVCS
1.80%
MCKESSON
1.59%
PROCTERGAMBLE
1.55%
VERIZON COMMUNICATIONS
1.54%
Diversification
XMU
Total weight of top 10 holdings out of 170 total
15.64%
MULV
Total weight of top 10 holdings out of 199 total
18.90%
Characteristics
Compare
XMU
MULV
| Provider | iShares | Mackenzie Investments |
| Management | Passively managed | Actively managed |
| Benchmark | MSCI USA Minimum Volatility Net Total Return Index - CAD | - |
| Replication Method | Direct (Physical) | |
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 1.12% | 0.97% |
| Meets ESG criteria | No | Yes |
| Inception Date | July 24, 2012 | June 6, 2024 |
Frequently asked questions about XMU and MULV
Which ETF has performed better year to date: XMU or MULV?
As of June 10, 2026, XMU has returned 4.04% year to date, while MULV has returned 2.94%. XMU is ahead on YTD performance.
Which ETF is larger by assets under management: XMU or MULV?
As of June 10, 2026, XMU manages $330.27 M in assets, while MULV manages $58.30 M. XMU is the larger fund by AUM.
How are XMU and MULV managed?
XMU is passively managed by iShares. It tracks the MSCI USA Minimum Volatility Net Total Return Index - CAD benchmark. MULV is actively managed by Mackenzie Investments. It does not track an index.
What sectors do XMU and MULV emphasize?
XMU is most exposed to Information Technology, Health Care, and Financials. MULV is most exposed to Information Technology, Health Care, and Financials.
Which ETF is attracting more investor flows: XMU or MULV?
Year to date, XMU has seen -$59.33 M in net flows, compared with +$1.08 M for MULV. MULV has attracted more net investor money so far.
How do the fees of XMU and MULV compare?
XMU has an expense ratio of 0.33%, while MULV has an expense ratio of 0.50%.
What are the top holdings of XMU and MULV?
XMU's largest holdings include CISCO-T and NVIDIA. MULV's top holdings include NVIDIA, DUKE ENERGY, and CHUBB LTD.
Which ETF is more diversified: XMU or MULV?
XMU holds 165 securities, while MULV holds 198. On holdings count, MULV is the more diversified portfolio.
Recent articles about XMU and MULV
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