Question 1

What is CDEF?

Accepted Answer

CDEF — Manulife Smart Defensive Equity ETF — is a Canadian-listed ETF trading on the TSX. NA

Question 2

What is the CDEF ETF price today?

Accepted Answer

CDEF last traded at $14.59 CAD on the TSX. See the price chart above for recent performance.

Question 3

What is the CDEF MER (management expense ratio)?

Accepted Answer

CDEF has a management expense ratio (MER) of 0% per year. This fee is automatically deducted from the fund's assets, so you never pay it directly — but it does reduce your net returns over time. At 0%, CDEF is considered a low-cost ETF.

Question 4

What are CDEF annualised returns?

Accepted Answer

CDEF historical returns: YTD: +9.12%, 1-year: +21.12%, 3-year annualised: +18.90%. Past performance is not a guarantee of future results. The 3-year Sharpe ratio is 1.67, which measures risk-adjusted return.

Question 5

Does CDEF pay dividends or distributions?

Accepted Answer

Yes, CDEF distributes income to unitholders. The current distribution yield is approximately 1.82%, paid half-yearly. Distributions may include dividends, interest, capital gains, or return of capital depending on the fund's holdings. In a TFSA or RRSP, distributions are sheltered from tax.

Question 6

What does CDEF invest in?

Accepted Answer

CDEF's top holdings include Cenovus Energy Inc (CVE, 2.6%), Imperial Oil Ltd (IMO, 2.6%), Great-West Lifeco Inc. (GWO, 2.5%), Intact Financial Corporation (IFC, 2.5%), TC Energy Corp (TRP, 2.5%) — and 5 more positions. See the full Top 10 Holdings table above for a complete breakdown. The fund tracks the Morningstar Canada GR CAD.

Question 7

What sectors does CDEF invest in?

Accepted Answer

CDEF's largest sector exposures are Financial Services (27.8%), Energy (18.2%), Industrials (14.9%). The full sector breakdown is shown in the Sector Weights table on this page.

Question 8

How large is CDEF? (Assets under management)

Accepted Answer

CDEF has approximately $4M in assets under management (AUM). Larger AUM generally means better liquidity, tighter bid-ask spreads, and a lower risk of the fund being wound down.

Question 9

When was CDEF launched?

Accepted Answer

CDEF was launched on November 8, 2021, giving it a 5-year track record. A longer history makes it easier to evaluate how the ETF performs across different market cycles.

Question 10

How do I buy CDEF in Canada?

Accepted Answer

CDEF trades on the TSX under the ticker CDEF. You can buy it through any Canadian brokerage, including Wealthsimple Trade (commission-free), Questrade, TD Direct Investing, RBC Direct, and CIBC Investor's Edge. It can be held in a TFSA, RRSP, FHSA, or taxable account.

Question 11

How risky is CDEF?

Accepted Answer

CDEF has a 1-year volatility of 8.76% and a beta of 0.70 (less volatile than the broad market). Its 3-year Sharpe ratio of 1.67 indicates solid risk-adjusted returns. As with all market-linked investments, past volatility does not predict future risk.

Date	Open	High	Low	Close	Adj Close	Volume
2026-05-22	$14.59	$14.59	$14.59	$14.59	$14.59	819
2026-05-12	$14.37	$14.37	$14.36	$14.36	$14.36	385
2026-05-08	$14.40	$14.40	$14.40	$14.40	$14.40	426
2026-05-01	$14.37	$14.37	$14.37	$14.37	$14.37	174
2026-04-24	$14.26	$14.26	$14.26	$14.26	$14.26	108
2026-04-02	$13.67	$13.67	$13.67	$13.67	$13.67	0
2026-03-19	$13.76	$13.76	$13.65	$13.65	$13.65	1,010
2026-03-18	$13.90	$13.90	$13.90	$13.90	$13.90	200
2026-03-06	$14.05	$14.05	$14.05	$14.05	$14.05	154
2026-02-27	$14.43	$14.43	$14.43	$14.43	$14.43	100

#	Ticker	Name	Weight
1	CVE	Cenovus Energy Inc	2.62%
2	IMO	Imperial Oil Ltd	2.56%
3	GWO	Great-West Lifeco Inc.	2.52%
4	IFC	Intact Financial Corporation	2.52%
5	TRP	TC Energy Corp	2.52%
6	ENB	Enbridge Inc	2.50%
7	L	Loblaw Companies Limited	2.49%
8	NA	National Bank of Canada	2.47%
9	FTS	Fortis Inc	2.47%
10	SLF	Sun Life Financial Inc.	2.46%

Sector	Weight
Financial Services	27.75%
Energy	18.17%
Industrials	14.88%
Basic Materials	11.42%
Consumer Defensive	6.80%
Utilities	6.61%
Consumer Cyclicals	5.66%
Communication Services	3.67%
Technology	2.85%
Real Estate	2.18%
Healthcare	0.00%

Manulife Smart Defensive Equity ETF (CDEF : TSX)

CIBC Investor's Edge

Price Chart (30 Days)

Key Statistics

Recent Price History

Annualised Returns

Top 10 Holdings

Sector Weights

About Manulife Smart Defensive Equity ETF

ETF Details

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Frequently Asked Questions — CDEF