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CDN Retirement 9* - A3
Performance
Return for Risk
Dividends
Drawdowns
Volatility
Diversification

CDN Retirement 9* - A3

Currency in CAD · Last updated Apr 2, 2026

xei can represent ZBAL.T XEI 5% and ZBAL.T 5%

Asset Allocation

ZST.TO 12.00%VCB.TO 10.00%VAB.TO 5.00%1 position 2.00%XCV.TO 10.00%XEI.TO 10.00%1 position 4.00%VBAL.TO 45.00%1 position 2.00%BondBondCommodityCommodityEquityEquityMulti-AssetMulti-AssetReal EstateReal Estate
PositionCategory/SectorTarget Weight
VAB.TO
Vanguard Canadian Aggregate Bond Index ETF		Canadian Government Bonds
5%
VBAL.TO
Vanguard Balanced ETF Portfolio		Diversified Portfolio
45%
VCB.TO
Vanguard Canadian Corporate Bond Index ETF		Corporate Bonds
10%
XCV.TO
iShares Canadian Value Index ETF		Canada Equities
10%
XEI.TO
iShares S&P/TSX Composite High Dividend Index ETF		Canada Equities
10%
XRE.TO
iShares S&P/TSX Capped REIT Index ETF		REIT
2%
ZEB.TO
BMO Equal Weight Banks Index ETF		Financials Equities
4%
ZGD.TO
BMO Equal Weight Global Gold Index ETF		Gold
2%
ZST.TO
BMO Ultra Short-Term Bond ETF		Canadian Government Bonds, Ultrashort Bond
12%

S&P 500 Index

Performance

Performance Chart

The chart shows the growth of an initial investment of CA$10,000 in **CDN Retirement 9* - A3**, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends. The portfolio is rebalanced Every 3 months.

Loading graphics...

The earliest data available for this chart is Feb 9, 2017, corresponding to the inception date of VCB.TO

Returns By Period

1D1MYTD6M1Y3Y*5Y*10Y*
Benchmark
S&P 500 Index
0.58%-2.01%-2.73%-2.59%13.21%18.05%12.62%12.98%
Portfolio
CDN Retirement 9* - A3
0.15%-1.08%2.95%4.96%17.37%12.91%8.56%—
Portfolio components:
ZST.TO
BMO Ultra Short-Term Bond ETF		-0.02%0.15%0.57%0.18%1.67%3.94%2.86%2.32%
XCV.TO
iShares Canadian Value Index ETF		-0.02%-0.37%8.04%13.13%37.37%23.18%17.62%12.77%
VBAL.TO
Vanguard Balanced ETF Portfolio		0.00%-3.14%0.43%1.79%13.36%11.80%6.97%—
XEI.TO
iShares S&P/TSX Composite High Dividend Index ETF		-0.30%1.00%13.57%16.77%35.87%18.57%15.17%11.89%
ZEB.TO
BMO Equal Weight Banks Index ETF		1.32%-3.25%3.26%15.57%54.03%26.17%17.10%14.72%
VCB.TO
Vanguard Canadian Corporate Bond Index ETF		0.00%-1.27%-0.09%0.44%2.51%5.47%2.14%—
ZGD.TO
BMO Equal Weight Global Gold Index ETF		4.03%-15.49%16.24%34.52%134.48%59.40%36.07%22.05%
XRE.TO
iShares S&P/TSX Capped REIT Index ETF		2.01%-2.52%3.17%-0.63%9.98%2.32%2.18%4.58%
VAB.TO
Vanguard Canadian Aggregate Bond Index ETF		0.00%-1.51%0.13%-0.09%0.37%3.27%0.52%1.54%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Monthly Returns

Based on dividend-adjusted daily data since Feb 2, 2018, CDN Retirement 9* - A3's average daily return is +0.03%, while the average monthly return is +0.65%. At this rate, your investment would double in approximately 8.9 years.

Historically, 68% of months were positive and 32% were negative. The best month was Apr 2020 with a return of +7.3%, while the worst month was Mar 2020 at -10.4%. The longest winning streak lasted 7 consecutive months, and the longest losing streak was 3 months.

On a daily basis, CDN Retirement 9* - A3 closed higher 57% of trading days. The best single day was Mar 24, 2020 with a return of +5.1%, while the worst single day was Mar 12, 2020 at -7.3%.

JanFebMarAprMayJunJulAugSepOctNovDecTotal
20261.41%3.72%-2.26%0.15%2.95%
20252.25%0.12%-0.59%-0.65%2.88%1.79%1.03%2.78%3.64%0.86%1.89%-0.46%16.56%
2024-0.21%1.31%2.73%-1.56%2.10%0.04%3.70%1.00%2.46%0.15%2.98%-1.87%13.40%
20234.91%-1.67%0.56%1.87%-2.67%1.44%1.45%-0.90%-2.62%-1.22%5.31%3.28%9.74%
2022-0.68%-0.10%0.45%-3.63%0.11%-5.47%3.37%-1.96%-2.60%2.37%4.21%-2.65%-6.82%
2021-0.13%1.49%1.91%1.37%1.91%1.21%0.49%0.97%-1.51%2.25%-0.29%2.40%12.68%

Benchmark Metrics

CDN Retirement 9* - A3 has an annualized alpha of 2.82%, beta of 0.38, and R² of 0.59 versus S&P 500 Index. Calculated based on daily prices since February 02, 2018.

  • This portfolio participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (47.66%) than losses (47.00%) — typical of diversified or defensive assets.
  • This portfolio generated an annualized alpha of 2.82% versus S&P 500 Index — delivering returns beyond what market exposure alone would predict.
  • Beta of 0.38 indicates this portfolio moves significantly less than S&P 500 Index — a genuinely defensive profile with reduced participation in both market rallies and downturns.
Alpha
2.82%
Beta
0.38
R²
0.59
Upside Capture
47.66%
Downside Capture
47.00%

Expense Ratio

**CDN Retirement 9* - A3 has an expense ratio of 0.26%**, which is considered low. Below, you can find the expense ratios of the portfolio's funds side by side and easily compare their relative costs.

XRE.TO
iShares S&P/TSX Capped REIT Index ETF
ZGD.TO
BMO Equal Weight Global Gold Index ETF
XCV.TO
iShares Canadian Value Index ETF
ZEB.TO
BMO Equal Weight Banks Index ETF
VBAL.TO
Vanguard Balanced ETF Portfolio
XEI.TO
iShares S&P/TSX Composite High Dividend Index ETF
ZST.TO
BMO Ultra Short-Term Bond ETF
VCB.TO
Vanguard Canadian Corporate Bond Index ETF
VAB.TO
Vanguard Canadian Aggregate Bond Index ETF

Return for Risk

Risk / Return Rank

CDN Retirement 9* - A3 ranks 90 for risk / return — in the top 90% of portfolios on our site. This means strong returns relative to risk — exactly what professional investors look for. Well-suited for investors who want to maximize return per unit of risk.

CDN Retirement 9* - A3 Risk / Return Rank: 9090
Overall Rank
CDN Retirement 9* - A3 Sharpe Ratio Rank: 9494
Sharpe Ratio Rank
CDN Retirement 9* - A3 Sortino Ratio Rank: 9595
Sortino Ratio Rank
CDN Retirement 9* - A3 Omega Ratio Rank: 9797
Omega Ratio Rank
CDN Retirement 9* - A3 Calmar Ratio Rank: 7979
Calmar Ratio Rank
CDN Retirement 9* - A3 Martin Ratio Rank: 8585
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

Return / Risk — by metrics

PortfolioBenchmarkDifference

Sharpe ratio

Return per unit of total volatility

2.38

0.74

+1.63

Sortino ratio

Return per unit of downside risk

3.16

1.13

+2.04

Omega ratio

Gain probability vs. loss probability

1.52

1.18

+0.34

Calmar ratio

Return relative to maximum drawdown

2.86

1.10

+1.76

Martin ratio

Return relative to average drawdown

13.49

4.05

+9.44

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

How much return does each position deliver for the risk it carries? Higher values mean better reward for the risk taken.

Risk / Return RankSharpe ratioSortino ratioOmega ratioCalmar ratioMartin ratio
ZST.TO
BMO Ultra Short-Term Bond ETF		701.531.621.751.674.65
XCV.TO
iShares Canadian Value Index ETF		973.243.971.723.8822.17
VBAL.TO
Vanguard Balanced ETF Portfolio		711.321.851.281.777.33
XEI.TO
iShares S&P/TSX Composite High Dividend Index ETF		973.504.231.793.6721.46
ZEB.TO
BMO Equal Weight Banks Index ETF		984.065.161.796.4124.68
VCB.TO
Vanguard Canadian Corporate Bond Index ETF		340.690.941.131.073.57
ZGD.TO
BMO Equal Weight Global Gold Index ETF		952.983.011.454.4115.94
XRE.TO
iShares S&P/TSX Capped REIT Index ETF		360.711.091.131.203.20
VAB.TO
Vanguard Canadian Aggregate Bond Index ETF		130.080.131.020.200.40

Sharpe Ratio

The Sharpe ratio helps investors understand how much return they're getting for the level of risk taken. A higher Sharpe ratio indicates better risk-adjusted performance, meaning more reward for each unit of risk.

**CDN Retirement 9* - A3 Sharpe ratios as of Apr 2, 2026** (values are recalculated daily):

  • 1-Year: 2.38
  • 5-Year: 1.24
  • All Time: 0.93

These values reflect how efficiently the investment has delivered returns relative to its volatility over different time periods. All figures are annualized and based on daily total returns (including price changes and dividends).

Compared to the broad market, where average Sharpe ratios range from 1.00 to 1.70, this portfolio's current Sharpe ratio is in the top 25%. This signifies superior risk-adjusted performance, meaning the portfolio is delivering strong returns for the level of risk taken compared to most others.

The chart below shows the rolling Sharpe ratio of **CDN Retirement 9* - A3** compared to the selected benchmark. This view highlights how the investment's risk-adjusted performance has changed over time.

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Dividends

Dividend yield

**CDN Retirement 9* - A3 provided a 2.72%** dividend yield over the last twelve months.

TTM20252024202320222021202020192018201720162015
Portfolio2.72%2.82%3.32%3.30%2.85%2.29%2.63%2.79%2.84%1.76%1.54%1.75%
Portfolio components:
ZST.TO
BMO Ultra Short-Term Bond ETF		2.62%2.82%4.65%4.79%2.75%2.29%2.65%2.82%3.43%4.05%3.92%3.90%
XCV.TO
iShares Canadian Value Index ETF		2.53%2.71%3.72%3.88%3.18%2.11%3.35%3.06%3.13%2.40%2.50%3.14%
VBAL.TO
Vanguard Balanced ETF Portfolio		2.20%2.21%2.29%2.34%2.19%1.93%1.81%2.23%2.01%0.00%0.00%0.00%
XEI.TO
iShares S&P/TSX Composite High Dividend Index ETF		3.91%4.39%5.45%4.98%4.68%3.58%5.03%4.62%5.42%4.29%4.42%5.64%
ZEB.TO
BMO Equal Weight Banks Index ETF		2.91%2.95%3.98%4.75%4.29%3.13%4.15%3.65%3.64%3.02%3.19%3.70%
VCB.TO
Vanguard Canadian Corporate Bond Index ETF		3.88%3.88%3.74%3.41%3.21%2.69%2.75%2.82%2.85%2.51%0.00%0.00%
ZGD.TO
BMO Equal Weight Global Gold Index ETF		0.19%0.22%0.59%0.76%0.77%0.38%0.16%1.20%0.00%0.00%0.32%0.46%
XRE.TO
iShares S&P/TSX Capped REIT Index ETF		4.80%5.00%5.55%4.52%4.85%2.59%4.45%4.82%4.80%4.71%5.20%5.59%
VAB.TO
Vanguard Canadian Aggregate Bond Index ETF		3.34%3.33%3.19%2.95%2.87%2.48%2.50%2.65%2.79%2.77%2.75%2.78%

Drawdowns

Drawdowns Chart

The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.

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Worst Drawdowns

The table below displays the maximum drawdowns of the **CDN Retirement 9* - A3**. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.

The maximum drawdown for the **CDN Retirement 9* - A3 was 22.42%, occurring on Mar 23, 2020**. Recovery took 164 trading sessions.

The current CDN Retirement 9* - A3 drawdown is 2.28%.

Depth

Start

To Bottom

Bottom

To Recover

End

Total

-22.42%Feb 21, 202022Mar 23, 2020164Nov 16, 2020186
-11.92%Jan 18, 2022185Oct 12, 2022295Dec 13, 2023480
-7.29%Jul 20, 2018109Dec 24, 201838Feb 20, 2019147
-6.57%Jan 31, 202547Apr 8, 202523May 12, 202570
-4.52%Feb 27, 202616Mar 20, 2026———

Volatility

Volatility Chart

The chart below shows the rolling one-month volatility.

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Diversification

Diversification Metrics

Number of Effective Assets

The portfolio contains 9 assets, with an effective number of assets of 3.97, reflecting the diversification based on asset allocation. This number of effective assets suggests a highly concentrated portfolio, where a few assets dominate the allocation, potentially increasing the portfolio's risk due to lack of diversification.

Asset Correlations Table

The table below displays the correlation coefficients between the individual components of the portfolio, the entire portfolio, and the chosen benchmark.
BenchmarkZST.TOZGD.TOVAB.TOVCB.TOXRE.TOZEB.TOXCV.TOXEI.TOVBAL.TOPortfolio
Benchmark1.000.080.030.040.080.380.510.410.480.830.70
ZST.TO0.081.000.100.270.280.090.060.040.050.150.16
ZGD.TO0.030.101.000.210.180.150.080.230.180.200.33
VAB.TO0.040.270.211.000.720.21-0.02-0.010.020.280.27
VCB.TO0.080.280.180.721.000.210.030.030.050.280.30
XRE.TO0.380.090.150.210.211.000.470.450.550.520.61
ZEB.TO0.510.060.08-0.020.030.471.000.730.750.620.75
XCV.TO0.410.040.23-0.010.030.450.731.000.800.570.77
XEI.TO0.480.050.180.020.050.550.750.801.000.640.81
VBAL.TO0.830.150.200.280.280.520.620.570.641.000.92
Portfolio0.700.160.330.270.300.610.750.770.810.921.00
The correlation results are calculated based on daily price changes starting from Feb 2, 2018