Best All-In-One ETFs in Canada 2024: One-Click Investing

All-in-one ETFs were created with two main purposes in mind: To simplify ETF investing and provide lower fees to 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 their separate offerings, sales are exploding for all-in-one ETFs in Canada, with billions of dollars being invested.

The increasing demand for all-in-one ETFs 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. I’ll go over the best all-in-one ETFs in Canada for 2024 below.

Best All-In-One ETF Portfolios in Canada

Best All-In-One 100% Equity ETFs

ETF Name	MER	Asset Allocation	YTD Return	Overview
Vanguard All-Equity ETF (VEQT)	0.24%	100% Equity	1.25%	Link
iShares Core Equity ETF (XEQT)	0.20%	100% Equity	1.3%	Link

Best All-In-One Growth ETFs

ETF Name	MER	Asset Allocation	YTD Return	Overview
Vanguard Growth ETF Portfolio (VGRO)	0.24%	80% Stocks, 20% Bonds	0.82%	Link
iShares Core Growth ETF (XGRO)	0.20%	80% Equity, 20% Bonds	0.86%	Link
Horizons Growth ETF Portfolio (HGRO)	0.17%	90% Equity, 10% Bonds	10.76%	Link

Best All-In-One Balanced ETFs

ETF Name	MER	Asset Allocation	YTD Return	Overview
iShares Core Balanced ETF (XBAL)	0.20%	60% Equity, 40% Bonds	0.41%	Link
BMO Balanced ETF Portfolio (ZBAL)	0.20%	60% Equity, 40% Bonds	0.44%	Link
Horizons Balanced ETF Portfolio (HBAL)	0.16%	70% Equity, 30% Bonds	0.86%	Link

iShares XBAL, BMO ZBAL, and Horizon HBAL are my top three choices for this balanced ETF portfolio category. All three have low fees, and HBAL has a unique swap structure that is better for taxable accounts.

Best All-In-One Conservative ETFs

ETF Name	MER	Asset Allocation	YTD Return	Overview
BMO Conservative ETF Portfolio (ZCON)	0.20%	40% Equity, 60% Bonds	-0.08%	Link

Comparison of All-In-One ETFs vs DIY and Robo-advisors

There are three main ways to invest in ETFs; All-in-one ETFs, Do-it-yourself (DIY) ETF Investing, and robo-advisors. Here are some of their key differences:

Investment Approach	Management Fee	Total Annual Fee	Who Should Use	Additional Notes
All-in-One ETF Portfolios	0.15% – 0.25%	0.15% – 0.25%	Beginners, hands-off investors	All-inclusive fee; great for beginners.
DIY ETF Portfolios	0.07% – 0.15%	0.07% – 0.15%	Experienced investors who want more flexibility	Most time-consuming option.
Robo-Advisors	0.25% – 0.50%	0.30% – 0.70%	Those seeking automated management	Total annual fee includes both ETF MER and robo-advisor fees.

Some key points:

1. All-in-One ETF Portfolios: These portfolios offer a diversified investment in one product, and fees are typically lower than robo-advisors but a bit higher than DIY portfolios due to the convenience factor. They’re ideal for beginners or those who prefer a more hands-off approach. These portfolios provide broad diversification without needing to manage individual investments.
2. DIY ETF Portfolios: These are often the cheapest option but require more knowledge and hands-on management. Transaction fees can vary widely depending on the brokerage and the frequency of trading. It’s suitable for more experienced investors who prefer to manage their own portfolios. This option provides greater control. To learn more, read our guide on how to invest in ETFs.
3. Robo-Advisors: The fees will be the highest of the three options, as it will include both the underlying ETF fees and robo-advisor fees but offer the convenience of automated management and rebalancing. My top two Canadian robo-advisor picks have deals going on right now: You can get $10,000 managed for free at QuestWealth, and a signup bonus at Wealthsimple.

Related Reading: Best robo-advisors in Canada

What is an All-In-One ETF?

Before all-in-one ETFs came around, it was a lot harder to construct 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 constructed using several ETFs, usually giving worldwide diversification. It’s why they are called all-in-one ETFs – because you need to buy only one ETF, but in essence, you’re buying a whole portfolio of multiple ETFs wrapped up inside of it.

These funds, also known as one-ticket, single-ticker, or asset-allocation ETFs, offer a diversified portfolio of stocks and bonds in a single investment.

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 while it’s perfect for beginner investors, it’s also suitable for experts. I consider myself an experienced investor and use all-in-one ETFs for my smaller accounts when I don’t want to bother with rebalancing my portfolio.

Here are the simple steps to start investing in all-in-one ETFs:

1. First, determine 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 over time, as the portfolio will automatically do so. You can, however, choose to buy more or sell your positions at any point in the future.

Top All-In-One ETF Providers in Canada

Here’s a summary of all the main companies that provide all-in-one ETFs in Canada. I’ll go over the five main providers of ETFs in Canada and their complete offerings of all-in-one ETFs below

ETF Provider	# of All-In-One ETF Portfolios	Avg MER	Portfolio Info
Vanguard	6	0.24 – 0.32%	Link
iShares	5 (Non-ESG ones)	0.20%	Link
BMO	5	0.20%	Link
Horizons	3	0.15%-0.17%	Link
TD	3	0.25%	Link

iShares All-in-One ETF Portfolios – Best Overall Provider

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 various financial goals.

ETF	Ticker	MER	Asset Mix (Stocks/Bonds)	YTD Return
iShares Core Income Balanced ETF Portfolio	XINC	0.20%	20% / 80%	-0.56%
iShares Core Conservative Balanced ETF Portfolio	XCNS	0.20%	40% / 60%	-0.05%
iShares Core Income Balanced ETF Portfolio	XBAL	0.20%	60% / 40%	0.41%
iShares Core Growth ETF Portfolio	XGRO	0.20%	80% / 20%	0.86%
IShares Core Equity ETF Portfolio	XEQT	0.20%	100% / 0%	1.3%

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

Horizons All-in-One ETF Portfolios – Best for Tax Efficiency

The unique swap-based structure of Horizons’ ETF portfolios allows the provider to maintain a relatively low MER compared to the other three providers. Rather than buying securities, Horizons engages in Total Return Swap agreements with major Canadian financial institutions.

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	Ticker	MER	Asset Mix (Stocks/Bonds)	YTD Return
Horizons Conservative TRI ETF Portfolio	HCON	0.15%	50% / 50%	0.51%
Horizons Balanced TRI ETF Portfolio	HBAL	0.16%	70% / 30%	0.86%
Horizons Growth TRI ETF Portfolio	HGRO	0.16%	100%	10.76%

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

Vanguard All-in-One ETF Portfolios

Vanguard is one of the largest ETF providers in the world, with over $8.5 trillion in 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	Ticker	MER	Asset Mix (Stocks/Bonds)	Year-to-Date Return
Vanguard Conservative Income ETF Portfolio	VCIP	0.24%	20% / 80%	-0.59%
Vanguard Conservative ETF Portfolio	VCNS	0.24%	40% / 60%	-0.15%
Vanguard Balanced ETF Portfolio	VBAL	0.24%	60% / 40%	0.34%
Vanguard Growth ETF Portfolio	VGRO	0.24%	80% / 20%	0.82%
Vanguard All-Equity ETF Portfolio	VEQT	0.24%	100% / 0%	1.25%
Vanguard Retirement Income ETF Portfolio	VRIF	0.32%	50% / 50%	-0.16%

Note that VRIF works slightly differently than the others and is meant for retirement income. You can read more about it in my full VRIF review.

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

BMO All-in-One ETF Portfolios – Best Big Bank Choice

As one of the largest banks in Canada, BMO was not going to let itself be left behind by 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	Ticker	MER	Asset Mix (Stocks/Bonds)	YTD Return
BMO Conservative ETF	ZCON	0.20%	40% / 60%	-0.08%
BMO Balanced ETF	ZBAL	0.20%	60% / 40%	0.44%
BMO Growth ETF	ZGRO	0.20%	80% / 20%	0.94%
BMO All-Equity ETF	ZEQT	0.20%	100% / 0%	1.43%
BMO Monthly Income ETF	ZMI	0.20%	60 % / 40%	0.91%

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

Related reading: Learn more about all of these BMO ETFs in this full overview.

TD All-in-One ETF Portfolios

As one of the largest banks in Canada, TD is a trusted name to invest with. They have created 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	Ticker	MER	Asset Mix (Stocks/Bonds)	YTD Return
TD One-Click Conservative ETF Portfolio	TOCC	0.28%	30% / 70%	5.84%
TD One-Click Moderate ETF Portfolio	TOCM	0.28%	60% / 40%	10.42%
TD One-Click Aggressive ETF Portfolio	TOCA	0.28%	90% / 10%	13.12%

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 much 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 I 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 I think that Horizons would be well-suited if you also have a taxable account you want to invest with.

Build Your Own Portfolio of ETFs

Do you think that all-in-one-ETF portfolios are too basic, and you want more control over what you invest in? If you want a cheaper and more flexible option for investing, you can build a portfolio of several ETFs, which will usually be a mix of equity and bond funds.

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

To keep my costs low, I construct ETF portfolios using the trading platforms at Questrade or Wealthsimple to buy the ETFs with no commission charges. 

Related Reading: Best trading platforms in Canada

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:

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

The cheapest way to buy ETFs is from discount brokers. My top choices in Canada are:

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

Conclusion

When picking out the best all-in-one ETF Portfolios in Canada, each provider 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 regarding your risk tolerance and financial goals.

For more ETF ideas, here’s a complete list of the best ETFs in Canada.

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.