What does an expense ratio mean for ETFs like CDL and EWC?

An expense ratio is the annual fee a fund charges to cover operating costs, deducted directly from its assets. CDL has an expense ratio of 0.35%, while EWC charges 0.50%, meaning EWC costs 0.15 percentage points more per year. Lower fees can preserve more returns over time, but they are just one factor in choosing an ETF.

How do these ETFs track different markets?

CDL tracks US large value stocks, focusing on companies with lower valuations relative to their fundamentals. EWC provides focused exposure to the Canadian equity market, reflecting the performance of large and mid-cap firms listed there. These differences in market coverage mean each fund responds to distinct economic drivers and regional factors.

What do the inception dates of these ETFs indicate?

The inception date shows how long a fund has been operating. CDL was launched on 8 July 2015, giving it an approximately decade-long history. EWC started much earlier on 12 March 1996, providing over 25 years of performance data. Longer histories offer more data for assessing consistency, though past performance does not guarantee future results.

How large are the asset bases of CDL and EWC?

EWC manages $6.9 billion in net assets, indicating a large-scale fund with likely high liquidity. CDL holds $394 million, which is considerably smaller. Larger funds often benefit from scale economies, while smaller ones may adjust more nimbly, though size alone does not determine quality or suitability for every investor.

What do the dividend yields suggest about these funds?

CDL offers a dividend yield of 3.21%, which is relatively high and reflects its focus on mature, income-generating US large-value stocks. EWC has a lower yield of 1.24%, typical for its exposure to the broader Canadian market, which includes diverse growth and resource sectors. Higher yields may appeal to income-focused investors.

Do CDL and EWC hold similar top positions?

Based on available data, there is no overlap among the top 10 holdings of CDL and EWC. CDL lists firms such as Coca-Cola (KO) and Dominion Energy (D), whereas EWC’s top holdings are not available. This suggests differing portfolio compositions aligned with their respective market focuses.

How does market focus differ between CDL and EWC?

CDL concentrates on US large-value equities, targeting firms believed to be undervalued relative to fundamentals. EWC offers broad access to the Canadian stock market, encompassing sectors like energy, materials, and finance. Investors choose between these based on whether they seek regional diversification or specific equity style exposure.

What are the implications of the sector data gaps?

Neither CDL nor EWC has publicly available sector weights from this source. Sector allocation helps assess diversification and concentration risk. The absence of this data means investors cannot fully evaluate industry exposure, which is critical for understanding potential vulnerabilities or performance drivers within each fund’s strategy.

How do fee differences impact long-term returns?

A 0.15 percentage point fee gap—between CDL’s 0.35% and EWC’s 0.50%—may seem small but compounds over time. On a $10,000 investment, EWC would cost $15 more annually before any performance differences. Over 20 years, assuming no growth, that’s $300 in extra fees, highlighting why expense ratios matter for cost efficiency.

What should investors know about ETF distributions?

ETFs like CDL and EWC may distribute dividends from underlying holdings. CDL’s 3.21% yield suggests regular income payouts, while EWC’s 1.24% indicates lower distributions. These payouts are taxable events in many jurisdictions and do not necessarily reflect total return. Investors should consult tax professionals for guidance.

CDL vs EWC

Two funds, one decision: we compare cost, performance and what each ETF actually holds in October 2026.

This page compares CDL and EWC, examining their fees, holdings, and dividends. It highlights how each fund tracks its market: CDL focuses on US large value stocks with a 0.35% expense ratio, while EWC targets the Canadian region at 0.50%. Note that top holdings and sector weights are not available for all metrics. Educational content, not financial advice.

This page compares CDL and EWC, examining their fees, holdings, and dividends. It highlights how each fund tracks its market: CDL focuses on US large value stocks with a 0.35% expense ratio, while EWC...

Fund Snapshot

Key Fund Metrics

CDL

Metric

EWC

0.35%

Expense Ratio

0.50%

3.21%

Dividend Yield

1.24%

$394.06M

Net Assets

$6.93B

102

Holdings

86

Jul 8, 2015

Inception Date

Mar 12, 1996

–

Index Tracked

–

Large Value

Fund Category

Focused Region

CDL costs about $15.00 less per year for every $10,000 invested.

Shared Top Holdings

These funds do not share any of their top holdings.

Investment Analysis

CDL

Pros

VictoryShares US Large Cap H charges a 0.35% expense ratio.
The fund holds $394 million in net assets.
It offers a 3.21% dividend yield.

Considerations

The fund's specific index tracked is not available.
Its issuer name is listed as not available.
Sector weights are currently not available.

EWC

Pros

iShares Canada MSCI ETF holds $6.9 billion in net assets.
The fund was established in March 1996, indicating a long track record.
It provides focused exposure to the Canadian equity region.

Considerations

An expense ratio of 0.50% is relatively high for an ETF.
Top holdings are not available from the provided data.
Specific sector weights are also not available for this fund.

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About CDL and EWC

CDL (CDL)

VictoryShares US Large Cap H (CDL) is an exchange-traded fund that provides investors with targeted exposure to large-cap companies listed in the United States. Funds in the VictoryShares family typically hold a diversified basket of well-established firms and may emphasise particular characteristics depending on the fund’s strategy. Investors considering CDL should review the fund’s prospectus and factsheet for specifics such as assets under management, index or strategy tracked, expense ratio, dividend policy and recent holdings. As with any equity fund, returns can fluctuate and past performance is not indicative of future results. Market, sector and company-specific risks can lead to capital loss, and dividend payments are not guaranteed. This summary is educational only and not personalised advice; suitability will depend on an individual’s objectives, time horizon and risk tolerance.

EWC (EWC)

iShares MSCI Canada ETF (EWC) is an exchange-traded fund that seeks to provide exposure to a broad selection of Canadian equities by tracking the MSCI Canada Index. It offers investors a convenient way to gain diversified access to large- and mid‑cap Canadian companies, with a portfolio typically concentrated in financials, energy and materials — reflecting Canada’s market structure. Key considerations include sector concentration risk, sensitivity to commodity prices and exposure to the Canadian dollar, which can affect returns for non‑CAD investors. As with all ETFs, prices can fluctuate and dividends, fees and tax treatment will influence net returns. This summary is general educational information only and not personal advice. Investors should review the fund prospectus, check current holdings and costs, consider how the ETF fits into their overall portfolio and consult a financial professional if they need personalised guidance. Past performance is not a reliable indicator of future results.

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CDL vs EWC

Fund Snapshot

Investment Analysis

CDL

Pros

Considerations

EWC

Pros

Considerations

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About CDL and EWC

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Buy CDL or EWC in Nemo

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Frequently asked questions

Fund Snapshot

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