A side-by-side comparison of BMO Balanced ETF (ZBAL) and iShares Core Balanced ETF Portfolio (XBAL) to help Canadian investors make an informed decision.
1-Year Performance
Normalised to 100 at the start — shows relative return over the trailing 12 months.
Head-to-Head Comparison
| Metric | ZBAL | XBAL |
|---|---|---|
| YTD Return | +7.23%✓ | +6.93% |
| 1-Day Change | +0.06% | +0.17%✓ |
| 1-Week Change | +0.50%✓ | +0.45% |
| 1-Month Change | +0.13% | +0.17%✓ |
| Current Price | $16.01 | $35.79 |
| AUM | $732M | $3.55B✓ |
| MER (Expense Ratio) | — | — |
| Dividend Yield | 1.63% | 2.33%✓ |
| Distribution Frequency | Quarterly | Quarterly |
| Inception Date | 2019-02-12 | 2007-06-21 |
| Holdings Count | 8 | 8 |
| MorningStar Rating | — | — |
| Category | Balanced Allocation | Balanced Allocation |
| Beta | 1.18 | 1.14 |
| 52-Week High | $16.33 | $36.46 |
| 52-Week Low | $14.39 | $32.05 |
| 50-Day MA | $16.05 | $35.88 |
| 200-Day MA | $15.68 | $35.11 |
✓ marks the better value for return/yield/AUM metrics. Lower ✓ for MER.
Annualised Returns
| Period | ZBAL | XBAL |
|---|---|---|
| YTD | +7.23%✓ | +6.93% |
| 1 Year | +8.75% | +8.91%✓ |
| 3 Year | +16.76%✓ | +15.73% |
| 5 Year | +8.09% | +8.22%✓ |
| 10 Year | +0.00% | +7.91%✓ |
| 1Y Volatility | 6.90% | 6.73% |
| Sharpe Ratio (3Y) | 1.52 | 1.71 |
Past performance is not a guarantee of future results.
Top 10 Holdings
| 1 | ZSP | BMO S&P 500 Index ETF | 26.80% |
| 2 | ZDB | BMO Discount Bond Index ETF | 28.85% |
| 3 | ZCN | BMO S&P/TSX Capped Composite | 15.02% |
| 4 | ZUAG-F | BMO US Aggregate Bond Index ETF (Hedged Units) | 12.06% |
| 5 | ZEA | BMO MSCI EAFE Index ETF | 10.12% |
| 6 | ZEM | BMO MSCI Emerging Markets Index ETF | 5.74% |
| 7 | ZMID | BMO S&P US Mid Cap Index ETF | 1.44% |
| 8 | ZSML | BMO S&P US Small Cap Index ETF | 0.75% |
| 1 | ITOT | iShares Core S&P Total U.S. Stock Market ETF | 26.37% |
| 2 | XBB | iShares Canadian Universe Bond | 25.66% |
| 3 | XEF | iShares Core MSCI EAFE IMI | 15.37% |
| 4 | XIC | iShares Core S&P/TSX Capped Composite | 14.68% |
| 5 | XSH | iShares Core Canadian Short Term Corporate + Maple Bond | 5.77% |
| 6 | GOVT | iShares U.S. Treasury Bond ETF | 4.21% |
| 7 | USIG | iShares Broad USD Investment Grade Corporate Bond ETF | 4.02% |
| 8 | XEC | iShares Core MSCI Emerging Markets IMI Index ETF | 3.15% |
Sector Weights
| Sector | ZBAL | XBAL |
|---|---|---|
| Basic Materials | 6.69% | 6.97% |
| Communication Services | 6.14% | 5.89% |
| Consumer Cyclicals | 7.41% | 7.35% |
| Consumer Defensive | 4.17% | 4.66% |
| Energy | 6.62% | 7.21% |
| Financial Services | 20.44% | 21.80% |
| Healthcare | 6.51% | 7.69% |
| Industrials | 10.69% | 11.81% |
| Real Estate | 1.68% | 2.12% |
| Technology | 28.15% | 24.31% |
| Utilities | 2.27% | 2.64% |
About ZBAL
NA
About XBAL
NA
Which ETF is Right for You?
Both ZBAL and XBAL are listed on Canadian exchanges and accessible through most Canadian brokerages including Questrade, Wealthsimple Trade, TD Direct, and Interactive Brokers.
Based on the available data, XBAL scores higher across our tracked metrics including YTD performance, dividend yield, and AUM — though both ETFs warrant individual research before investing.
- Consider your account type (TFSA, RRSP, non-registered) as it can affect dividend taxation.
- Compare management expense ratios (MER) directly on each provider's website.
- Look at average daily trading volume to assess liquidity.
- Review the fund's underlying index and holdings to ensure the exposure matches your goals.
This is not financial advice. Always do your own research or consult a licensed financial advisor before investing.
Frequently Asked Questions
What is the difference between ZBAL and XBAL?
ZBAL (BMO Balanced ETF) and XBAL (iShares Core Balanced ETF Portfolio) are both Canadian-listed ETFs. Key differences include their AUM ($732M vs $3.55B), dividend yield (1.63% vs 2.33%), and year-to-date performance (+7.23% vs +6.93%).
Is ZBAL better than XBAL?
There is no single "better" ETF — it depends on your investment goals. If you prioritise recent performance, ZBAL has outperformed year-to-date. Always review the fund's prospectus and consider your tax situation.
Can I buy ZBAL and XBAL on Wealthsimple?
Most Canadian-listed ETFs are available on Wealthsimple Trade commission-free. Both ZBAL and XBAL should be accessible. Check Wealthsimple's supported tickers list to confirm availability.
7 stocks to buy and hold forever
Complement your ETF portfolio with these proven long-term individual stocks.
Get the FREE Report