22 Best All-In-One ETFs in Canada (2022): One-Click Investing Solutions

All-in-one ETFs were created with two main purposes in mind: The ultimate convenience in ETF investing, and lower fees for Canadians.

Vanguard led the charge by becoming the first company in Canada to introduce the offering of all-in-one Exchange-Traded Funds (ETFs) back in 2018. 

As more ETF providers like iShares, BMO, TD, and Horizons entered the market with all-in-one ETFs, sales are exploding for the best all-in-one ETFs in Canada.

The increasing demand for all-in-one ETFs (also known as model ETF portfolios) in Canada should not come as a surprise.

Mutual fund products in Canada are some of the most expensive in the developed world, and ETFs are leading the charge in reducing fees for investors.

What is an All-In-One ETF?

Before all-in-one ETFs came around, it was a lot harder to make an ETF portfolio. You had to buy several ETFs, and you would have to rebalance them at times to match your fixed income to the equity that is suited to your risk tolerance.

Created as a fund of funds, all-in-one ETFs are built using several ETFs and usually give worldwide diversification. All-in-one ETFs are much simpler to use, and you won’t need to rebalance your portfolio.

How to Use All-In-One ETFs

It’s extremely easy to use all-in-one ETFs, and it’s suitable for beginners and experts.

  1. First you figure out what type of asset mix is right for you. You can start by filling out an online questionnaire such as the one that is provided by Vanguard here. This will help to determine your asset mix of fixed income to equity.
  2. After you know your proper asset mix, find a suitable ETF from the list below.
  3. Purchase the ETF, using a platform such as Questrade or Wealthsimple Trade.
  4. You won’t need to rebalance it, as the portfolio will automatically do so.

Top All-In-One ETF Providers in Canada

Here’s a summary of all the main providers in Canada. A more detailed description is below.

ETF Provider# of All-In-One ETF PortfoliosAvg MERPortfolio Info
Vanguard0.24 – 0.32%Link
iShares5 (Non-ESG ones)0.20%Link
BMO50.20%Link
Horizons30.15%Link
TD30.25%Link

Top All-In-One ETF Portfolios in Canada

I have listed down below all-in-one ETF portfolios in Canada that you can consider. I divided them among the various providers to give you a better idea of what each provider has to offer.

Vanguard All-in-One ETF Portfolios

Vanguard Logo

Vanguard is one of the largest ETF providers in the world, with over $8.5 trillion assets under management (AUM) globally.

Vanguard’s asset allocation ETFs were designed by the provider in its efforts to pioneer the simplification of investing while managing risk through global diversification and balance.

Each of these portfolios is balanced regularly to maintain the corresponding allocations and limit the risk levels within the determined risk tolerance to help investors remain aligned with their goals.

ETF TickerMERAsset Mix (Stocks/Bonds)YTD Return
Vanguard Conservative Income ETF PortfolioVCIP0.24%20% / 80%-12.01%
Vanguard Conservative ETF PortfolioVCNS0.24%40% / 60%-12.29%
Vanguard Balanced ETF PortfolioVBAL0.24%60% / 40%-12.6%
Vanguard Growth ETF PortfolioVGRO0.24%80% / 20%-13.02%
Vanguard All-Equity ETF PortfolioVEQT0.24%100% / 0%-13.37%
Vanguard Retirement Income ETF PortfolioVRIF0.32%50% / 50%-12.54%

Note that VRIF works a little bit differently than the other ones, and is meant for retirement income. You can read more about it in my full VRIF review.

Underlying ETFs

All of Vanguard’s all-in-one EFs consist of the following ETFs, except for VEQT which only has four equity ETFs:

ETFTicker
Canadian Aggregate Bond Index ETFVAB
U.S. Aggregate Bond Index ETF (CAD-hedged) VBU
FTSE Developed All Cap ex North America Index ETFVIU
U.S. Total Market Index ETFVUN
FTSE Emerging Markets All Cap Index ETFVEE
FTSE Canada All Cap Index ETFVCN
Global ex-U.S. Aggregate Bond Index ETF (CAD-hedged)VBG
Canadian Aggregate Bond Index ETFVAB

Stock Components

For the stock portions of the ETFs, here are the approximate geographic allocation:

  • United States: 43%
  • Canada: 30.5%
  • International: 26.5%

You can learn more about all of these Vanguard ETFs in this full overview.

iShares All-in-One ETF Portfolios

ishares logo

iShares is an ETF suite offered by Blackrock, one of the largest investment managers in the world.

iShares’ Core ETFs are its all-in-one ETF products that it offers as an option for investors to help build a strong foundational portfolio.

The ETFs are a selected group of ETFs and come in various combinations to help investors achieve a variety of financial goals.

ETF TickerMERAsset Mix (Stocks/Bonds)YTD Return
iShares Core Income Balanced ETF PortfolioXINC0.20%20% / 80%-11.59%
iShares Core Conservative Balanced ETF PortfolioXCNS0.20%40% / 60%-12.15%
iShares Core Income Balanced ETF PortfolioXBAL0.20%60% / 40%-12.59%
iShares Core Growth ETF PortfolioXGRO0.20%80% / 20%-13.05%
IShares Core Equity ETF PortfolioXEQT0.20%100% / 0%-13.49%

Underlying ETFs

All of iShares all-in-one ETFs consist of the following ETFs, except for XEQT which only has four equity ETFs:

ETFTicker
ISHS CORE CAD UNIV BND IDX ETF (CAD-HEDGED)XBB
ISHARES CORE S&P TOTAL U.S. STOCKITOT
ISHARES S&P/TSX CAPPED COMPOSITEXIC
iShares Core CAD ST Cor Bd IndexXSH
ISHARES MSCI EAFE IMI INDEXXEF
ISHARES US TREASURY BOND ETFGOVT
ISHARES BROAD USD INVESTMENTUSIG
ISHARES CORE MSCI EMERGING MARKETSIEMG

Stock Components

For the stock portions of the ETFs, here is the approximate geographic allocation:

  • United States: 44%
  • Canada: 27%
  • International & Emerging: 29%

Note that there are also ESG funds available with iShares. You can learn more about all of these iShares ETFs in this full overview.

BMO All-in-One ETF Portfolios

As one of the largest banks in Canada, BMO was not going to be left behind the rest of the ETF providers.

BMO often has the highest Canadian net new ETF assets every year, due to its large distribution network and excellent offerings.

Here’s what BMO offers for all-in-one ETF portfolios:

ETF TickerMERAsset Mix (Stocks/Bonds)YTD Return
BMO Conservative ETFZCON0.20%40% / 60%-12.52%
BMO Balanced ETFZBAL0.20%60% / 40%-12.78%
BMO Growth ETFZGRO0.20%80% / 20%-13.01%
BMO All-Equity ETFZEQT0.20%100% / 0%0%
BMO Monthly Income ETFZMI0.20%60 % / 40%-8.63%

Note that the BMO Monthly Income ETF works a bit differently than the other ETFs. ZMI’s main goal is to provide monthly income.

Underlying ETFs

All of BMO all-in-one ETFs consist of the following seven ETFs, except for ZEQT which only has six equity ETFs:

ETFTicker
BMO AGGREGATE BOND INDEX ETFZAG
BMO S&P 500 INDEX ETFZSP
BMO S&P/TSX CAPPED COMPOSITE INDEX ETFZCN
BMO MSCI EAFE INDEX ETFZEA
BMO GOVERNMENT BOND INDEX ETFZGB
BMO MSCI EMERGING MARKETS INDEX ETFZEM
BMO MID-TERM US IG CORPORATE BOND HEDGED TO CAD INDEX ETFZMU
BMO S&P US MID CAP INDEX ETFZMID
BMO S&P US SMALL CAP INDEX ETFZSML

Stock Components

For the stock portions of the ETFs, here is the approximate geographic allocation:

  • United States: 44%
  • Canada: 27%
  • International & Emerging: 29%

You can learn more about all of these iShares ETFs in this full overview.

Horizons All-in-One ETF Portfolios

horizons logo

The unique swap-based structure of Horizons’ ETF portfolios allows the provider to maintain a relatively low MER compared to the other three providers.

It also provides some potential tax savings, by deferring dividends and interest into unrealized capital gains. It’s a good choice for taxable accounts for this reason. But beware, this comes with slightly increased counterparty risk.

Another unique aspect of Horizons is that it does not charge a management fee, per se. The cost listed will instead be based on the MER of the underlying ETFs.

ETF TickerMERAsset Mix (Stocks/Bonds)YTD Return
Horizons Conservative TRI ETF PortfolioHCON0.15%50% / 50%-15.49%
Horizons Balanced TRI ETF PortfolioHBAL0.16%70% / 30%-16.79%
Horizons Growth TRI ETF PortfolioHGRO0.16%100%-18.42%

Underlying ETFs

All of Horizons all-in-one ETFs consist of the following ETFs, except for HGRO which only has six equity ETFs and no fixed-income:

HORIZONS CDN SELECT UNIVERSE ETF
HORIZONS US 7-10 YEAR TREASURY ETF
HORIZONS US LARGE CAP INDEX ETF
HORIZONS NASDAQ-100 INDEX ETF ETF
HORIZONS S&P/TSX 60 INDEX ETF ETF
HORIZONS INTL DEVELOPED MKTS .
HORIZONS EMERGING MARKETS ETF
HORIZONS EUROPE 50 INDEX ETF

Stock Components

For the stock portions of the ETFs, here is the approximate geographic allocation:

  • United States: 53%
  • Canada: 19%
  • International & Emerging: 28%

You can learn more about all of these Horizons ETFs in this full overview.

TD All-in-One ETF Portfolios

TD Logo

As one of the largest banks in Canada, TD is a trusted name to invest with. They have come up with what they branded as their “One-Click” portfolios. It’s not my favourite provider as the MERs are slightly higher, but it’s nice to see more big banks offering choices like these to their customers.

ETF TickerMERAsset Mix (Stocks/Bonds)YTD Return
TD One-Click Conservative ETF PortfolioTOCC0.28%30% / 70%-12.77%
TD One-Click Moderate ETF PortfolioTOCM0.28%60% / 40%-13.33%
TD One-Click Aggressive ETF PortfolioTOCA0.28%90% / 10%-13.19%

Underlying ETFs

All of TD’s funds consist of the following ETFs:

ETF
TD Canadian Aggregate Bond Index ETF (TDB)
TD Select Short Term Corp Bond Ladder ETF (TCSB)
TD International Equity Index ETF (TPE)
TD U.S. Long Term Treasury Bond ETF (TULB)
TD Global Technology Leaders Index ETF (TEC)
TD Canadian Equity Index ETF (TTP)
TD U.S. Equity Index ETF (TPU)
TD Active Global Income ETF (TGFI)
TD Canadian Long Term Federal Bond ETF (TCLB)
TD Q Canadian Low Volatility ETF (TCLV)

Which ETF Portfolio Should You Choose?

With all of these choices, it can get a bit confusing as to which one to choose. There isn’t a whole lot of variation between all of the ETFs listed, other than Horizons unique swap structure.

I’ve always been a big fan of Vanguard and iShares, and would probably avoid TD as it has slightly higher fees. In this case, my top recommendations would be iShares due to its low fees and excellent selection, and BMO if you need the comfort of a big Canadian bank.

I also like Vanguard, and think that Horizons would be well-suited if you have a taxable account you want to invest with as well.

All-In-One ETF Portfolio Alternatives

Robo-Advisors

If you need a bit of basic advice but want to invest in an ETF portfolio, you can look into investing with a robo-advisor. The fees will be slightly higher than an all-in-one ETF portfolio, as the robo-advisors will charge around 0.25% – 0.5% extra as a management fee per year, on top of the ETF MER.

You can get $10,000 managed for free at my top 2 Canadian robo-advisor picks, Wealthsimple and QuestWealth

Build Your Own Portfolio of ETFs

If you want the cheapest option for investing, you can build a portfolio of several ETFs, which will usually be a mix of equity and bond funds. For example, if you have $10,000 to invest and you want to make a similar ETF portfolio to VGRO.TO, which is an 80% equity 20% fixed income split, you could buy something like:

  1. 50% US equity fund ($5,000)
  2. 20% Canadian equity fund ($2,000)
  3. 10% International equity fund ($1,000)
  4. 20% Bond fund ($2,000)

The benefit of this approach is it will be cheaper, with MERs of around 0.07-0.15%. But the downside is you will have to rebalance this portfolio periodically, so it is slightly more time-consuming than the all-in-one solution. 

I construct ETF portfolios using Questrade or Wealthsimple to buy the ETFs with no commission charges. 

Should You Buy All-In-One ETFs?

I personally really like all-in-one ETFs and feel that it is well-suited for most investors. There’s relatively little downside to this strategy, but I’ll go over them here:

Pros
  • Provides excellent diversification at a low-cost
  • Extremely simple and easy to use
  • You’ll spend very little time investing
  • No need to rebalance your portfolio
Cons
  • Not customizable
  • Slightly higher fees than if you construct your own ETF portfolio

How to Buy All-In-One ETF Portfolios in Canada

You can purchase all-in-one ETFs in Canada through most Canadian brokerage platforms that offer stock and ETF trading. My top choices are Wealthsimple Trade and Questrade.

ImageProduct TitleFeaturesPrice
Editor's Choice
Wealthsimple Trade
Wealthsimple Trade
  • ETF buys and sells have $0 trading fees
  • Desktop and mobile trading
  • Reputable Brand
  • Beautiful Design
Get $25 Signup Bonus
Reliable Pick
Questrade
Questrade
  • ETF buys have $0 trading fees
  • Desktop and mobile trading
  • Most types of accounts available
Get $50 Free Stock Trades

To learn more, check out my full breakdown of the best trading platforms in Canada here.

Conclusion

When it comes to picking out the best all-in-one ETF Portfolios in Canada, each of the providers offers various products to investors that they can consider. Vanguard is the pioneering provider that introduced all-in-one ETF portfolios to the Canadian market. 

Still, providers like iShares, BMO, TD, and Horizons have rapidly moved in with substantial offerings of their own.

Choosing the right portfolio becomes a matter of personal preference when it comes to your risk tolerance and financial goals.

If you’re still unsure of where to start or aren’t sure what asset allocation to choose, read about how to start investing in Canada.

Photo of author
Author Bio - Christopher Liew is a CFA Charterholder with 11 years of finance experience and the creator of Wealthawesome.com. Read about how he quit his 6-figure salary career to travel the world here.

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4 thoughts on “22 Best All-In-One ETFs in Canada (2022): One-Click Investing Solutions”

  1. Hi Chris,

    Great post. Are there any retirement target ETFs out there that you recommend? I recently changed jobs, and have a sizeable amount Defined Contribution Account with Manulife that I want to move to a LIRA, but trying to get a Target Retirement Fund account so I can set it and forget it until I retire. Does this exist, or do I need to rebalance it myself using these ETFs? Thanks, love the website

    Reply
  2. Hi,

    40% US equity fund ($5,000)
    20% Canadian equity fund ($2,000)
    10% International equity fund ($1,000)
    20% Bond fund ($2,000)

    10% Equity missing from your DIY portfolio to match VGRO asset allocation.

    Your thoughts on a 100% equity. There is no rebalancing and no selling fee (Questrade) to adjust for the Equity/Bond asset allocation ratio.

    Thanks

    Reply
    • Hey thanks Jacques, there is a selling fee for Questrade, but not for Wealthsimple Trade. Sorry bout that it was a typo, should be 50% U.S Equity Fund. You can also mix it up, for example with a Tech ETF, Emerging Market ETF, Gold ETF, Dividend ETFs, etc. Check out the ETF section of this website for some more ideas, it goes into many different options.

      Reply

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