The Canadian asset allocation ETFs are game changers. This asset allocation ETF portfolio post/page will continually update the returns for the ETF providers. We’ll also compare the returns between the asset allocation ETF providers. And we’ll keep track by category, from the lower risk income category to the higher risk all-equity models. The tables will also offer the stock to bond (risk) ratios.
The asset allocation ETFs are game changers in Canada. In one ETF, you can get access to well-diversified global portfolios with total fees in the range of 0.17% to 0.28%. Compare that to mutual funds with fees in the area of 2.0%. Most Canadians should leave their mutual funds behind. It would likely be life changing. Send me a note if you want to learn how to make that move.
For those who want low-fee ETF portfolios with advice and planning, check out Justwealth – Canada’s leading Robo Advisor.
Welcome to the ultimate asset allocation ETF page.
First, we’ll look at the returns for each of the ETF providers including their full suite of ETF offerings. That will be followed by the comparison tables between the ETF providers. The performance tables will be updated on a regular basis, at least quarterly. The tables below are to the end of August 2024. These are total returns and include all management fees.
Buy ETFs at no cost
You may have trading costs. But remember, some discount brokerages offer free trades .
At Questrade you can buy Canadian ETFs for free.
For the following tables, 1-year, 3-year and 5-year is the average annual return. Please let me know if you spot an error. Use the contact form. 🙂
The MERs for the Canadian asset allocation ETFs:
- BlackRock’s iShares is at 0.20 %
- Fidelity is at 0.39 to 0.43 %
- Global X is at 0.20 %
- Mackenzie is at 0.18 to 0.29 %
- Vanguard is at 0.24 %
- BMO is at 0.17%
- TD is at 0.17%
The returns for Canada’s Asset Allocation ETFs
The returns are updated to the end of June 2025.
You might consider the Fidelity asset allocation ETFs. I have not included them as they hold a 1-3% position in bitcoin (I’m a fan of that), and they use more active management. That is not always everyone’s cup of tea.
But they have greatly outperformed traditonal balanced portfolio models used by the following providers. Readers will know that I am fan of a modest amount of bitcoin in balanced portfolios. Here’s FGRO-T.
Global X Asset Allocation ETF review.
Keep in mind that HCON and HBAL changed their asset allocation in 2023. Previously HCON was 50/50, while HBAL was 70/30. The additional equity weighting provided a modest return boost. There are also some newer ETFs in the mix but with limited timelines for evaluations.
Global X to end of June 2025.
Vanguard Asset Allocation ETF review.
*Evaluated/available to end of June 2025.
iShares Asset Allocation ETFs review.
To end of June 2025.
BMO Asset Allocation ETFs review.
In January of 2022 BMO also introduced ZEQT, an all-equity option.
To end of June 2025.
TD Asset Allocation ETF (One Click) review
To end of June 2025.
Asset Allocation ETF comparisons by risk level
What are the top-performing Asset Allocation ETFs?
The returns are updated to the end of June 2025.
Income models
Conservative models
Balanced models
Balanced growth models
All equity models
In the only major category move, iShares XEQT has moved to the top of the all-equity ‘standings’.
Which Asset Allocation ETF to select?
You’ll find some direction (not advice) on the Core Couch Potato page on MoneySense. Reach out to me if you want help on portfolio selection – use the Contact Dale button.
Here’s the key table. You’ll find a few examples of the appropriate asset allocation ETFs for each risk category. Always ensure that you are investing within your risk tolerance level.
How to read the above table
If your time horizon for the funds is 1-2 years, you skip the AA ETFs and head to cash, GICs and ultra short term bonds. You don’t have the time horizon to take on any risk.
For cash and GIC options you can look to EQ Bank.
And here’s a post with more options for cash and GICs.
But let’s say you won’t need the fund for 7-10 years and you’re comfortable with a medium risk portfolio that might decline by 20-45% in a major correction, you might look to an XGRO, VGRO or ZGRO.
Keep in mind that the above table is a general framework. Feel free to hit that Contact Dale button if you have any questions on how to use the Asset Allocation ETFs for accumulation or in retirement.
Buying Asset Allocation ETFs
To purchase an asset allocation ETF you would need to open an account with a discount brokerage. While these ETFs are comprehensive funds, they trade a like a stock. Many Cut The Crap Investing readers have turned to Questrade – Canada’s top-ranked discount brokerage. Once again, you can purchase ETFs, including the asset allocation ETFs for free.
You can open an account through this Questrade partnership link.
Before you invest, please ensure that you understand the risks and tax consequences. It is also crucial that you invest within your risk tolerance level.
ETF Portfolios with advice and financial planning?
If you feel that you need advice, financial planning in addition to low-fee ETF portfolios, check out Justwealth, Canada’s top robo advisor.
If you are comfortable buying ETFs and rebalancing your portfolio you can build your own ETF portfolio.
If you have any questions, please feel free to reach out by way of the Contact Dale button at the top of this page.
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ETFs / Stock Portfolios / Retirement / Wealth Creation
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