0P0000706A.TO vs. ZBAL.TO

Last updated Aug 1, 2026

0P0000706A.TO (RBC Select Balanced Portfolio A) and ZBAL.TO (BMO Balanced ETF) are both Global Allocation funds. Over the past 5 years, 0P0000706A.TO returned 6.39%/yr vs 7.71%/yr for ZBAL.TO. Their correlation of 0.90 means they have usually moved in the same direction. 0P0000706A.TO charges 1.94%/yr vs 0.18%/yr for ZBAL.TO.

Performance

0P0000706A.TO vs. ZBAL.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in RBC Select Balanced Portfolio A (0P0000706A.TO) and BMO Balanced ETF (ZBAL.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with 0P0000706A.TO having a 7.81% return and ZBAL.TO slightly higher at 7.92%.

0P0000706A.TO

• 1D: -0.11%
• 1M: -1.49%
• 6M: 6.29%
• YTD: 7.81%
• 1Y: 15.54%
• 3Y*: 12.23%
• 5Y*: 6.39%
• 10Y*: —
• ALL TIME*: 6.80%

ZBAL.TO

• 1D: 0.00%
• 1M: -0.75%
• 6M: 6.55%
• YTD: 7.92%
• 1Y: 14.99%
• 3Y*: 13.25%
• 5Y*: 7.71%
• 10Y*: —
• ALL TIME*: 8.75%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
0P0000706A.TO RBC Select Balanced Portfolio A	CA$0.00	CA$0.00	CA$0.00
ZBAL.TO BMO Balanced ETF	CA$456.82K	CA$450.76K	CA$664.39K

0P0000706A.TO vs. ZBAL.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
0P0000706A.TO RBC Select Balanced Portfolio A	7.81%	11.61%	13.97%	10.23%	-12.52%	10.15%	10.01%	8.72%
ZBAL.TO BMO Balanced ETF	7.92%	11.34%	16.15%	12.61%	-11.11%	10.39%	10.25%	9.89%

Correlation

The correlation between 0P0000706A.TO and ZBAL.TO is 0.87, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.87
Correlation (3Y) Balances recent behavior with more history.	0.91
Correlation (5Y) Shows whether the relationship held over a longer period.	0.91
Correlation (All Time) Calculated using the full available price history since Feb 15, 2019	0.90

The correlation between 0P0000706A.TO and ZBAL.TO has been stable across timeframes, ranging from 0.87 to 0.91 - a consistent structural relationship.

Return for Risk

0P0000706A.TO vs. ZBAL.TO — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

0P0000706A.TO

0P0000706A.TO Risk / Return Rank: 75
0P0000706A.TO Sharpe Ratio Rank: 75
0P0000706A.TO Sortino Ratio Rank: 73
0P0000706A.TO Omega Ratio Rank: 75
0P0000706A.TO Calmar Ratio Rank: 75
0P0000706A.TO Martin Ratio Rank: 79

ZBAL.TO

ZBAL.TO Risk / Return Rank: 68
ZBAL.TO Sharpe Ratio Rank: 66
ZBAL.TO Sortino Ratio Rank: 66
ZBAL.TO Omega Ratio Rank: 65
ZBAL.TO Calmar Ratio Rank: 71
ZBAL.TO Martin Ratio Rank: 72

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

0P0000706A.TO vs. ZBAL.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for RBC Select Balanced Portfolio A (0P0000706A.TO) and BMO Balanced ETF (ZBAL.TO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	0P0000706A.TO	ZBAL.TO	Difference
Sharpe ratio: Return per unit of total volatility	1.76	1.51	+0.25
Sortino ratio: Return per unit of downside risk	2.50	2.18	+0.32
Omega ratio: Gain probability vs. loss probability	1.33	1.27	+0.06
Calmar ratio: Return relative to maximum drawdown	2.44	2.46	-0.02
Martin ratio: Return relative to average drawdown	9.76	8.77	+0.99

0P0000706A.TO vs. ZBAL.TO - Sharpe Ratio Comparison

The current 0P0000706A.TO Sharpe Ratio is 1.76, which is comparable to the ZBAL.TO Sharpe Ratio of 1.51. The chart below compares the historical Sharpe Ratios of 0P0000706A.TO and ZBAL.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

0P0000706A.TO vs. ZBAL.TO - Drawdown Comparison

The maximum 0P0000706A.TO drawdown since its inception was -21.64%, roughly equal to the maximum ZBAL.TO drawdown of -20.75%. Use the drawdown chart below to compare losses from any high point for 0P0000706A.TO and ZBAL.TO.

Drawdown Indicators

	0P0000706A.TO	ZBAL.TO	Difference
Max Drawdown Largest peak-to-trough decline	-21.64%	-20.75%	-0.89%
Max Drawdown (1Y) Largest decline over 1 year	-6.04%	-5.81%	-0.23%
Max Drawdown (3Y) Largest decline over 3 years	-9.56%	-9.44%	-0.12%
Max Drawdown (5Y) Largest decline over 5 years	-17.90%	-16.32%	-1.58%
Current Drawdown Current decline from peak	-1.75%	-2.81%	+1.06%
Average Drawdown Average peak-to-trough decline	-3.65%	-3.17%	-0.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.51%	1.63%	-0.12%

Volatility

0P0000706A.TO vs. ZBAL.TO - Volatility Comparison

The current volatility for RBC Select Balanced Portfolio A (0P0000706A.TO) is 2.17%, while BMO Balanced ETF (ZBAL.TO) has a volatility of 2.46%. This indicates that 0P0000706A.TO experiences smaller price fluctuations and is considered to be less risky than ZBAL.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	0P0000706A.TO	ZBAL.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.17%	2.46%	-0.29%
Volatility (6M) Calculated over the trailing 6-month period	7.05%	7.68%	-0.63%
Volatility (1Y) Calculated over the trailing 1-year period	8.35%	9.47%	-1.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.41%	8.93%	-0.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.49%	10.14%	-0.65%

0P0000706A.TO vs. ZBAL.TO - Expense Ratio Comparison

0P0000706A.TO has a 1.94% expense ratio, which is higher than ZBAL.TO's 0.18% expense ratio.

Dividends

0P0000706A.TO vs. ZBAL.TO - Dividend Comparison

0P0000706A.TO's dividend yield for the trailing twelve months is around 4.03%, more than ZBAL.TO's 1.66% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
0P0000706A.TO RBC Select Balanced Portfolio A	4.03%	4.34%	3.92%	2.75%	1.78%	3.22%	1.43%	1.03%	2.92%
ZBAL.TO BMO Balanced ETF	1.66%	2.02%	2.18%	2.48%	2.72%	2.35%	2.53%	2.38%	0.00%

Frequently Asked Questions

Can I hold both 0P0000706A.TO and ZBAL.TO in my portfolio?

0P0000706A.TO and ZBAL.TO have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.