CRQ.NEO vs. XBAL.TO
CRQ.NEO (iShares Canadian Fundamental Index ETF) and XBAL.TO (iShares Core Balanced ETF Portfolio) are both exchange-traded funds - CRQ.NEO is a Canada Equities fund tracking the FTSE RAFI Canada Index, while XBAL.TO is a Diversified Portfolio fund actively managed by iShares. CRQ.NEO is passively managed, while XBAL.TO is actively managed. Over the past 10 years, CRQ.NEO returned 13.69%/yr vs 7.74%/yr for XBAL.TO. A 0.51 correlation means they provide meaningful diversification when combined. CRQ.NEO charges 0.72%/yr vs 0.20%/yr for XBAL.TO.
Performance
CRQ.NEO vs. XBAL.TO - Performance Comparison
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Returns By Period
In the year-to-date period, CRQ.NEO achieves a 17.86% return, which is significantly higher than XBAL.TO's 9.11% return. Over the past 10 years, CRQ.NEO has outperformed XBAL.TO with an annualized return of 13.69%, while XBAL.TO has yielded a comparatively lower 7.74% annualized return.
CRQ.NEO
- 1D
- 0.13%
- 1M
- 2.97%
- YTD
- 17.86%
- 6M
- 17.27%
- 1Y
- 42.87%
- 3Y*
- 26.28%
- 5Y*
- 18.12%
- 10Y*
- 13.69%
XBAL.TO
- 1D
- 0.22%
- 1M
- 1.46%
- YTD
- 9.11%
- 6M
- 8.79%
- 1Y
- 16.80%
- 3Y*
- 14.35%
- 5Y*
- 8.05%
- 10Y*
- 7.74%
CRQ.NEO vs. XBAL.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CRQ.NEO iShares Canadian Fundamental Index ETF | 17.86% | 31.87% | 22.17% | 9.76% | 0.89% | 33.95% | -2.73% | 19.66% | -10.18% | 6.98% |
XBAL.TO iShares Core Balanced ETF Portfolio | 9.11% | 11.90% | 15.80% | 13.05% | -11.16% | 10.16% | 10.73% | 15.34% | -2.73% | 5.55% |
Correlation
The correlation between CRQ.NEO and XBAL.TO is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.49 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.59 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.56 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.52 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2009 | 0.51 |
The correlation between CRQ.NEO and XBAL.TO has been stable across timeframes, ranging from 0.49 to 0.59 - a consistent structural relationship.
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Return for Risk
CRQ.NEO vs. XBAL.TO — Risk / Return Rank
CRQ.NEO
XBAL.TO
CRQ.NEO vs. XBAL.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Canadian Fundamental Index ETF (CRQ.NEO) and iShares Core Balanced ETF Portfolio (XBAL.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.
| CRQ.NEO | XBAL.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.42 | ||
| Sortino ratioReturn per unit of downside risk | +3.37 | ||
| Omega ratioGain probability vs. loss probability | 1.93 | 1.35 | +0.58 |
| Calmar ratioReturn relative to maximum drawdown | 6.33 | 2.78 | +3.55 |
| Martin ratioReturn relative to average drawdown | 30.59 | 11.21 | +19.38 |
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Drawdowns
CRQ.NEO vs. XBAL.TO - Drawdown Comparison
The maximum CRQ.NEO drawdown since its inception was -41.75%, which is greater than XBAL.TO's maximum drawdown of -28.55%. Use the drawdown chart below to compare losses from any high point for CRQ.NEO and XBAL.TO.
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Drawdown Indicators
| CRQ.NEO | XBAL.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.75% | -28.55% | -13.20% |
Max Drawdown (1Y)Largest decline over 1 year | -6.84% | -6.06% | -0.78% |
Max Drawdown (3Y)Largest decline over 3 years | -11.70% | -9.34% | -2.36% |
Max Drawdown (5Y)Largest decline over 5 years | -15.82% | -17.10% | +1.28% |
Max Drawdown (10Y)Largest decline over 10 years | -41.75% | -20.93% | -20.82% |
Current DrawdownCurrent decline from peak | -0.33% | -1.84% | +1.51% |
Average DrawdownAverage peak-to-trough decline | -5.60% | -3.35% | -2.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.41% | 1.50% | -0.09% |
Volatility
CRQ.NEO vs. XBAL.TO - Volatility Comparison
The current volatility for iShares Canadian Fundamental Index ETF (CRQ.NEO) is 3.20%, while iShares Core Balanced ETF Portfolio (XBAL.TO) has a volatility of 3.86%. This indicates that CRQ.NEO experiences smaller price fluctuations and is considered to be less risky than XBAL.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CRQ.NEO | XBAL.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.20% | 3.86% | -0.66% |
Volatility (6M)Calculated over the trailing 6-month period | 8.32% | 7.85% | +0.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.14% | 9.14% | +1.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.43% | 8.94% | +3.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.21% | 9.79% | +6.42% |
CRQ.NEO vs. XBAL.TO - Expense Ratio Comparison
CRQ.NEO has a 0.72% expense ratio, which is higher than XBAL.TO's 0.20% expense ratio.
Dividends
CRQ.NEO vs. XBAL.TO - Dividend Comparison
CRQ.NEO's dividend yield for the trailing twelve months is around 1.83%, less than XBAL.TO's 2.20% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CRQ.NEO iShares Canadian Fundamental Index ETF | 1.83% | 2.18% | 2.72% | 2.97% | 2.90% | 2.17% | 2.98% | 2.71% | 2.46% | 1.91% | 1.89% | 3.09% |
XBAL.TO iShares Core Balanced ETF Portfolio | 2.20% | 2.27% | 2.72% | 2.43% | 2.12% | 1.78% | 2.04% | 2.31% | 3.47% | 3.00% | 3.72% | 3.38% |
Frequently Asked Questions
CRQ.NEO and XBAL.TO have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XBAL.TO is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XBAL.TO is cheaper with a 0.20% expense ratio, compared with 0.72% for CRQ.NEO.
CRQ.NEO is categorized as Canada Equities, while XBAL.TO is Diversified Portfolio. Their fees differ too: 0.72% for CRQ.NEO and 0.20% for XBAL.TO.
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