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Manulife Smart U.S. Defensive Equity ETF Hedged (UDEF.TO) ETF Analysis

UDEF.TO

Expense ratio 0.37% Yield 1.26% Since November 9, 2022 Family Manulife Investment Management

Last Updated: October 20, 2026

CA$11.65

CA$0.00 (0.00%)

October 20, 2026 · Market close

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Price History

Hover for the daily close. The dotted line marks the period open.

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UDEF.TO Annualized Returns

With dividends reinvested · as of October 20, 2026

Period	Total return	Annualized	CA$100 becomes	CA$300 becomes
1 year	+14.07%	+14.07%	CA$114.07	CA$342.20
3 years	+42.55%	+12.54%	CA$142.55	CA$427.66
5 years	+24.57%	+4.49%	CA$124.57	CA$373.72

Returns are total returns computed from daily closes, with dividends reinvested. As of October 20, 2026.

UDEF.TO Return by Calendar Year

2021 and 2026 are partial years

−13.34%+19.57%+10.50%

2021*20222023202420252026*

View as table ↓View as chart ↑

Year	Return
2026 (partial year)	+10.50%
2025	+6.31%
2024	+19.57%
2023	−1.05%
2022	−13.34%
2021 (partial year)	+3.42%

UDEF.TO Monthly Returns

−11%+7%

Year	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
2026	+0.0	+4.6	+0.0	−1.2	+0.0	+4.6	+0.0	+0.0	+0.0	+2.2	—	—
2025	+0.7	+0.0	+0.0	+0.0	−0.8	+0.7	+0.0	+2.4	+0.0	+0.0	+0.0	+3.2
2024	+0.0	+6.5	+0.0	+0.0	+0.0	+2.6	+5.3	+1.4	+0.0	+2.8	+0.0	−0.3
2023	+0.0	+0.0	+0.0	−2.7	−3.7	+3.2	+0.7	+2.0	−1.8	+0.0	+0.0	+1.5
2022	−5.4	+0.0	+0.0	−1.0	+0.0	+0.4	+0.0	−10.9	−2.1	+0.0	+3.0	+2.6
2021	—	—	—	—	—	—	—	—	—	—	—	+5.4

Monthly total returns with dividends reinvested; each cell prints its signed value.

UDEF.TO Volatility & Risk

Volatility: 5 yrs · Beta: 3 yrs

Annualized volatility: 7.87%
Beta (3y): 0.54
Best year: +19.57%
Worst year: −13.34%

Volatility is the annualized standard deviation of daily returns. As of October 20, 2026.

Top Holdings

#	Symbol	Name	Weight
1	AAPL	Apple Inc	2.19%
2	FTNT	Fortinet Inc	2.13%
3	JNJ	Johnson & Johnson	2.09%
4	MRK	Merck & Co Inc	2.03%
5	MA	Mastercard Inc Class A	2%
6	NVDA	NVIDIA Corp	2%
7	JPM	JPMorgan Chase & Co	1.99%
8	MSFT	Microsoft Corp	1.97%
9	VZ	Verizon Communications Inc	1.96%
10	ABBV	AbbVie Inc	1.92%

Analysis

Data-derived

Fund Overview

Manulife Smart U.S. Defensive Equity ETF Hedged (UDEF.TO) is an exchange-traded fund. Manulife Investment Management is the fund family on file. It has been trading since November 9, 2022. The expense ratio is 0.37%. On a CA$10,000 position that is CA$37.00 a year.

Its biggest positions are Apple Inc (AAPL), Fortinet Inc (FTNT), and Johnson & Johnson (JNJ). Apple Inc alone accounts for 2.19% of the portfolio. The ten largest positions together make up 20.27% of the fund.

Performance Analysis

UDEF.TO last closed at CA$11.65 on October 20, 2026. Over the trailing twelve months the total return is +14.07%. Across 5 years the annualized return works out at +4.49%. The trailing distribution yield is 1.26%.

Across the complete calendar years on file, 2024 returned +19.57% and 2022 returned −13.34%. Of the 4 complete calendar years on file, 2 finished higher. 2026 is still running; the total return is +10.50% year to date.

Price & Risk Profile

Daily returns over the trailing 5 years annualize to a volatility of 7.87%. The reported beta is 0.54. Over the past 52 weeks the price has ranged from CA$10.35 to CA$11.65. The latest close sits 12.56% above that 52-week low. The volatility figure is calculated from the stored daily closes, the same series the charts on this page use.

Every figure above is read from this page's own data on each daily rebuild. Informational only, not financial advice. As of October 20, 2026.

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