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BMO Balanced ETF (ZBAL.TO) Alternatives

ETF · Currency in CAD · Last updated Jul 16, 2026

The ETF is a fund of funds aims for moderate long-term capital appreciation and income through investments in global equity and fixed income ETFs.

BMO Balanced ETF (ZBAL.TO) belongs to the Global Allocation category. Below you'll find alternative ETFs from the same category, ranked by key criteria, plus funds that investors commonly compare with ZBAL.TO. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.

Cheapest Alternatives to ZBAL.TO

ZBAL.TO charges 0.18% annually. There is 1 ETF in the Global Allocation category with a lower expense ratio, going as low as 0.15%.

SymbolNameExpense RatioAUMInception
TBAL.TO
TD Balanced ETF Portfolio0.15%—Aug 2020ZBAL.TO vs TBAL.TO
ZGRO.TO
BMO Growth ETF0.18%778.93MFeb 2019ZBAL.TO vs ZGRO.TO
HCON.TO
Global X Conservative Asset Allocation ETF0.22%36.67MAug 2018ZBAL.TO vs HCON.TO
FCGI.TO
Fidelity Global Monthly High Income ETF0.55%22.80MJan 2020ZBAL.TO vs FCGI.TO
ZWQT.TO
BMO Global Enhanced Income Fund Series ETF0.87%55.39MJun 2023ZBAL.TO vs ZWQT.TO

Best Risk-Adjusted Alternatives to ZBAL.TO

ZBAL.TO has a PortfoliosLab risk / return rank of 71. There are 5 ETFs in the Global Allocation category with higher risk-adjusted ranks, going as high as 94.

SymbolNameRisk / Return RankAUMInception
ZWQT.TO
BMO Global Enhanced Income Fund Series ETF
94
55.39MJun 2023ZBAL.TO vs ZWQT.TO
FCGI.TO
Fidelity Global Monthly High Income ETF
93
22.80MJan 2020ZBAL.TO vs FCGI.TO
TBAL.TO
TD Balanced ETF Portfolio
84
—Aug 2020ZBAL.TO vs TBAL.TO
CGRA.TO
CI Global Real Asset Private Pool
82
9.11MMay 2020ZBAL.TO vs CGRA.TO
ZGRO.TO
BMO Growth ETF
79
778.93MFeb 2019ZBAL.TO vs ZGRO.TO

Top Performing ZBAL.TO Alternatives (YTD)

ZBAL.TO is at 8.66% YTD. There are 4 ETFs in the Global Allocation category with higher YTD returns, going as high as 15.41%.

SymbolNameYTD ReturnAUMInception
CGRA.TO
CI Global Real Asset Private Pool
15.41%
9.11MMay 2020ZBAL.TO vs CGRA.TO
ZWQT.TO
BMO Global Enhanced Income Fund Series ETF
14.77%
55.39MJun 2023ZBAL.TO vs ZWQT.TO
ZGRO.TO
BMO Growth ETF
11.48%
778.93MFeb 2019ZBAL.TO vs ZGRO.TO
FCGI.TO
Fidelity Global Monthly High Income ETF
9.21%
22.80MJan 2020ZBAL.TO vs FCGI.TO
TBAL.TO
TD Balanced ETF Portfolio
8.36%
—Aug 2020ZBAL.TO vs TBAL.TO

Lowest Volatility Alternatives to ZBAL.TO

ZBAL.TO has 9.31% 1-year volatility. There are 4 ETFs in the Global Allocation category with lower 1-year volatility, going as low as 7.01%.

SymbolNameVolatility 1YAUMInception
FCGI.TO
Fidelity Global Monthly High Income ETF7.01%22.80MJan 2020ZBAL.TO vs FCGI.TO
HCON.TO
Global X Conservative Asset Allocation ETF7.11%36.67MAug 2018ZBAL.TO vs HCON.TO
TBAL.TO
TD Balanced ETF Portfolio8.18%—Aug 2020ZBAL.TO vs TBAL.TO
CGRA.TO
CI Global Real Asset Private Pool8.46%9.11MMay 2020ZBAL.TO vs CGRA.TO
ZWQT.TO
BMO Global Enhanced Income Fund Series ETF9.71%55.39MJun 2023ZBAL.TO vs ZWQT.TO

Lowest Drawdown Alternatives to ZBAL.TO

ZBAL.TO has a 1-year max drawdown of -5.81%. There are 3 ETFs in the Global Allocation category with shallower 1-year drawdowns, going as shallow as -3.79%.

SymbolNameMax Drawdown 1YAUMInception
FCGI.TO
Fidelity Global Monthly High Income ETF
-3.79%
22.80MJan 2020ZBAL.TO vs FCGI.TO
HCON.TO
Global X Conservative Asset Allocation ETF
-4.71%
36.67MAug 2018ZBAL.TO vs HCON.TO
ZWQT.TO
BMO Global Enhanced Income Fund Series ETF
-5.47%
55.39MJun 2023ZBAL.TO vs ZWQT.TO
TBAL.TO
TD Balanced ETF Portfolio
-5.98%
—Aug 2020ZBAL.TO vs TBAL.TO
CGRA.TO
CI Global Real Asset Private Pool
-6.43%
9.11MMay 2020ZBAL.TO vs CGRA.TO

Other ETFs from BMO

The 10 most viewed BMO ETFs shown here include ZMMK.TO, ZSP.TO, ZEQT.TO and span 8 categories. AUM among these funds goes as high as $24B.

SymbolNameCategoryRisk / Return RankYTD ReturnAUMInception
ZMMK.TO
BMO Money Market Fund ETF SeriesMoney Market
99
1.25%
5.77BNov 2021ZBAL.TO vs ZMMK.TO
ZSP.TO
BMO S&P 500 Index ETFS&P 500
78
13.65%
24.35BNov 2012ZBAL.TO vs ZSP.TO
ZEQT.TO
BMO All-Equity ETFGlobal Equities
83
14.44%
895.11MJan 2022ZBAL.TO vs ZEQT.TO
ZEB.TO
BMO Equal Weight Banks Index ETFFinancials Equities, Equal Weight
98
36.93%
7.20BOct 2009ZBAL.TO vs ZEB.TO
ZCN.TO
BMO S&P/TSX Capped Composite Index ETFCanada Equities
90
12.95%
17.34BMay 2009ZBAL.TO vs ZCN.TO
ZQQ.TO
BMO NASDAQ 100 Equity (CAD Hedged)Nasdaq-100
38
15.43%
3.09BJan 2010ZBAL.TO vs ZQQ.TO
ZNQ.TO
BMO NASDAQ 100 Equity Index ETFNasdaq-100
64
19.67%
2.35BFeb 2019ZBAL.TO vs ZNQ.TO
ZLB.TO
BMO Low Volatility Canadian Equity ETFCanada Equities
53
7.89%
6.24BOct 2011ZBAL.TO vs ZLB.TO
ZAG.TO
BMO Aggregate Bond Index ETFCanadian Government Bonds
33
1.25%
13.13BJan 2010ZBAL.TO vs ZAG.TO
ZDV.TO
BMO Canadian Dividend ETFCanada Equities
98
22.62%
1.86BOct 2011ZBAL.TO vs ZDV.TO

Often Compared With ZBAL.TO

Investors most often compare ZBAL.TO with XBAL.TO, VBAL.TO, VDY.TO. These 20 comparison targets span 11 categories, based on PortfoliosLab usage data.

SymbolNameCategoryRisk / Return RankYTD ReturnAUMInception
XBAL.TO
iShares Core Balanced ETF PortfolioDiversified Portfolio
71
8.75%
3.36BJun 2007ZBAL.TO vs XBAL.TO
VBAL.TO
Vanguard Balanced ETF PortfolioDiversified Portfolio
78
8.73%
5.67BJan 2018ZBAL.TO vs VBAL.TO
VDY.TO
Vanguard FTSE Canadian High Dividend Yield Index E...Dividend
99
29.59%
8.59BNov 2012ZBAL.TO vs VDY.TO
VGRO.TO
Vanguard Growth ETF PortfolioDiversified Portfolio
87
11.62%
10.51BJan 2018ZBAL.TO vs VGRO.TO
VRIF.TO
Vanguard Retirement Income ETF PortfolioDiversified Portfolio
75
4.89%
363.73MSep 2020ZBAL.TO vs VRIF.TO
XEI.TO
iShares S&P/TSX Composite High Dividend Index ETFCanada Equities
98
27.27%
4.25BApr 2011ZBAL.TO vs XEI.TO
TGRO.TO
TD Growth ETF PortfolioDiversified Portfolio
87
11.56%
—Aug 2020ZBAL.TO vs TGRO.TO
ZCON.TO
BMO Conservative ETFDiversified Portfolio
40
6.01%
108.41MFeb 2019ZBAL.TO vs ZCON.TO
FBAL.NEO
Fidelity All-in-One Balanced ETFDiversified Portfolio
78
8.35%
9.45BJan 2021ZBAL.TO vs FBAL.NEO
ZMI.TO
BMO Monthly Income ETFDiversified Portfolio
79
9.82%
245.54MJan 2011ZBAL.TO vs ZMI.TO
HBAL.TO
Global X Balanced Asset Allocation ETFDiversified Portfolio
83
8.71%
183.77MAug 2018ZBAL.TO vs HBAL.TO
FGRO.NEO
Fidelity All-in-One Growth ETFDiversified Portfolio
79
10.79%
4.95BJan 2021ZBAL.TO vs FGRO.NEO
VFV.TO
Vanguard S&P 500 Index ETFS&P 500
79
13.67%
34.09BNov 2012ZBAL.TO vs VFV.TO
XEQT.TO
iShares Core Equity ETF PortfolioGlobal Equities
87
14.16%
20.34BAug 2019ZBAL.TO vs XEQT.TO
XDIV.TO
iShares Core MSCI Canadian Quality Dividend Index ...Dividend, Large Cap Value Equities
98
26.60%
5.78BJun 2017ZBAL.TO vs XDIV.TO
VCNS.TO
Vanguard Conservative ETF PortfolioDiversified Portfolio
65
5.99%
932.14MJan 2018ZBAL.TO vs VCNS.TO
HDIV.TO
Hamilton Enhanced Canadian Covered Call ETFDerivative Income
95
19.95%
1.74BJul 2021ZBAL.TO vs HDIV.TO
ZIN.TO
BMO Equal Weight Industrials Index ETFIndustrials Equities, Equal Weight
83
24.06%
59.58MNov 2012ZBAL.TO vs ZIN.TO
ZWU.TO
BMO Covered Call Utilities ETFUtilities Equities, Derivative Income
71
11.26%
2.21BOct 2011ZBAL.TO vs ZWU.TO
ZST.TO
BMO Ultra Short-Term Bond ETFUltrashort Bond
56
1.37%
3.55BJan 2011ZBAL.TO vs ZST.TO

Compare ZBAL.TO with Any Fund or Stock

Compare ZBAL.TO with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.

 

Diversifiers

Pair ZBAL.TO with funds that move differently

BMO Balanced ETF alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to ZBAL.TO.

Explore ZBAL.TO Diversifiers