Manulife Investment Management launched two new defensive equity ETFs on Wednesday.

The Manulife Smart Defensive Equity ETF and Manulife Smart U.S. Defensive Equity ETF offer long-term capital appreciation through diversification in Canadian and U.S. securities, respectively. Both funds aim to provide better investor experiences in volatile markets, a release said.

The Manulife Smart Defensive Equity ETF has an annual management fee of 0.25%, and the Manulife Smart U.S. Defensive Equity ETF has an annual management fee of 0.33% for the hedged series and 0.28% for the unhedged.