PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
GBAL.TO vs. XEI.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

GBAL.TO vs. XEI.TO

Last updated Jun 5, 2026

GBAL.TO (iShares ESG Balanced ETF Portfolio) and XEI.TO (iShares S&P/TSX Composite High Dividend Index ETF) are both exchange-traded funds - GBAL.TO is a Diversified Portfolio fund actively managed by iShares, while XEI.TO is a Canada Equities fund tracking the S&P/TSX Composite High Dividend Index. GBAL.TO is actively managed, while XEI.TO is passively managed. Over the past 5 years, GBAL.TO returned 9.04%/yr vs 15.75%/yr for XEI.TO. At a 0.36 correlation, their price movements are largely independent. GBAL.TO charges 0.25%/yr vs 0.22%/yr for XEI.TO.

Performance

GBAL.TO vs. XEI.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares ESG Balanced ETF Portfolio (GBAL.TO) and iShares S&P/TSX Composite High Dividend Index ETF (XEI.TO). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, GBAL.TO achieves a 9.39% return, which is significantly lower than XEI.TO's 23.25% return.

GBAL.TO

1D
0.16%
1M
5.46%
YTD
9.39%
6M
7.35%
1Y
18.03%
3Y*
15.66%
5Y*
9.04%
10Y*
—

XEI.TO

1D
0.85%
1M
3.41%
YTD
23.25%
6M
23.82%
1Y
45.53%
3Y*
22.82%
5Y*
15.75%
10Y*
12.30%
*Multi-year figures are annualized to reflect compound growth (CAGR)

GBAL.TO vs. XEI.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020
GBAL.TO
iShares ESG Balanced ETF Portfolio		9.39%11.77%17.38%14.48%-11.94%11.32%6.10%
XEI.TO
iShares S&P/TSX Composite High Dividend Index ETF		23.25%25.96%15.42%6.69%0.41%35.88%11.24%

Correlation

The correlation between GBAL.TO and XEI.TO is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.20

Correlation (3Y)
Calculated over the trailing 3-year period

0.37

Correlation (5Y)
Calculated over the trailing 5-year period

0.38

Correlation (All Time)
Calculated using the full available price history since Sep 14, 2020

0.36

The correlation between GBAL.TO and XEI.TO shifts across timeframes, from 0.20 (1 year) to 0.38 (5 years), reflecting how their relationship changes across market environments.

GBAL.TO vs. XEI.TO - Sectors Allocation Comparison

Sectors
GBAL.TO
XEI.TO

Technology

22.2%
0.7%

Financial Services

18.1%
31.4%

Industrials

5.4%
0.7%

Basic Materials

4.5%
4.6%

Consumer Cyclical

3.1%
6.2%

Healthcare

2.9%
0.2%

Real Estate

1.9%
4.8%

Communication Services

1.8%
7.6%

Consumer Defensive

1.7%
0.5%

Utilities

0.6%
11.2%

Energy

0.0%
32.1%

Technology

GBAL.TO
22.2%
XEI.TO
0.7%

Financial Services

GBAL.TO
18.1%
XEI.TO
31.4%

Industrials

GBAL.TO
5.4%
XEI.TO
0.7%

Basic Materials

GBAL.TO
4.5%
XEI.TO
4.6%

Consumer Cyclical

GBAL.TO
3.1%
XEI.TO
6.2%

Healthcare

GBAL.TO
2.9%
XEI.TO
0.2%

Real Estate

GBAL.TO
1.9%
XEI.TO
4.8%

Communication Services

GBAL.TO
1.8%
XEI.TO
7.6%

Consumer Defensive

GBAL.TO
1.7%
XEI.TO
0.5%

Utilities

GBAL.TO
0.6%
XEI.TO
11.2%

Energy

GBAL.TO
0.0%
XEI.TO
32.1%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares ESG Balanced ETF Portfolio

iShares S&P/TSX Composite High Dividend Index ETF

Often compared with GBAL.TO:
GBAL.TO vs. XBAL.TOGBAL.TO vs. EAORGBAL.TO vs. GEQT.TOGBAL.TO vs. XIN.TOGBAL.TO vs. GGRO.TOGBAL.TO vs. VBAL.TOGBAL.TO vs. VFV.TO
Often compared with XEI.TO:
XEI.TO vs. VDY.TOXEI.TO vs. XDIV.TOXEI.TO vs. XEQT.TOXEI.TO vs. VFV.TOXEI.TO vs. ZDV.TOXEI.TO vs. CDZ.TOXEI.TO vs. XDV.TO

Return for Risk

GBAL.TO vs. XEI.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
GBAL.TO
GBAL.TO Risk / Return Rank: 6060
Overall Rank
GBAL.TO Sharpe Ratio Rank: 5858
Sharpe Ratio Rank
GBAL.TO Sortino Ratio Rank: 6060
Sortino Ratio Rank
GBAL.TO Omega Ratio Rank: 6161
Omega Ratio Rank
GBAL.TO Calmar Ratio Rank: 5858
Calmar Ratio Rank
GBAL.TO Martin Ratio Rank: 6363
Martin Ratio Rank
XEI.TO
XEI.TO Risk / Return Rank: 9898
Overall Rank
XEI.TO Sharpe Ratio Rank: 9898
Sharpe Ratio Rank
XEI.TO Sortino Ratio Rank: 9999
Sortino Ratio Rank
XEI.TO Omega Ratio Rank: 9898
Omega Ratio Rank
XEI.TO Calmar Ratio Rank: 9999
Calmar Ratio Rank
XEI.TO Martin Ratio Rank: 9898
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.

GBAL.TO vs. XEI.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares ESG Balanced ETF Portfolio (GBAL.TO) and iShares S&P/TSX Composite High Dividend Index ETF (XEI.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.

GBAL.TOXEI.TODifference
Sharpe ratioReturn per unit of total volatility
1.92
6.34

-4.42

Sortino ratioReturn per unit of downside risk
2.79
9.47

-6.68

Omega ratioGain probability vs. loss probability

1.37

2.34

-0.98

Calmar ratioReturn relative to maximum drawdown

2.83

20.39

-17.56

Martin ratioReturn relative to average drawdown

11.25

69.23

-57.98

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

GBAL.TO vs. XEI.TO - Sharpe Ratio Comparison

The current GBAL.TO Sharpe Ratio is 1.92, which is lower than the XEI.TO Sharpe Ratio of 6.34. The chart below compares the historical Sharpe Ratios of GBAL.TO and XEI.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.

Loading charts...

Sharpe Ratios by Period

GBAL.TOXEI.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.92

6.34

-4.42

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.94

1.41

-0.47

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.77

—

Sharpe Ratio (All Time)

Calculated using the full available price history

1.03

0.67

+0.36

Drawdowns

GBAL.TO vs. XEI.TO - Drawdown Comparison

The maximum GBAL.TO drawdown since its inception was -18.92%, smaller than the maximum XEI.TO drawdown of -45.51%. Use the drawdown chart below to compare losses from any high point for GBAL.TO and XEI.TO.

Loading charts...

Drawdown Indicators

GBAL.TOXEI.TODifference

Max Drawdown

Largest peak-to-trough decline

-18.92%

-45.51%

+26.59%

Max Drawdown (1Y)

Largest decline over 1 year

-6.40%

-2.24%

-4.16%

Max Drawdown (3Y)

Largest decline over 3 years

-10.24%

-9.92%

-0.32%

Max Drawdown (5Y)

Largest decline over 5 years

-18.92%

-17.32%

-1.60%

Max Drawdown (10Y)

Largest decline over 10 years

—

-45.51%

—

Current Drawdown

Current decline from peak

-0.08%

0.00%

-0.08%

Average Drawdown

Average peak-to-trough decline

-4.30%

-5.05%

+0.75%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.61%

0.66%

+0.95%

Volatility

GBAL.TO vs. XEI.TO - Volatility Comparison

iShares ESG Balanced ETF Portfolio (GBAL.TO) has a higher volatility of 3.19% compared to iShares S&P/TSX Composite High Dividend Index ETF (XEI.TO) at 2.89%. This indicates that GBAL.TO's price experiences larger fluctuations and is considered to be riskier than XEI.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

GBAL.TOXEI.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.19%

2.89%

+0.30%

Volatility (6M)

Calculated over the trailing 6-month period

7.87%

6.03%

+1.84%

Volatility (1Y)

Calculated over the trailing 1-year period

9.42%

7.24%

+2.18%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

9.70%

11.24%

-1.54%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

9.53%

16.01%

-6.48%

GBAL.TO vs. XEI.TO - Expense Ratio Comparison

GBAL.TO has a 0.25% expense ratio, which is higher than XEI.TO's 0.22% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

GBAL.TO vs. XEI.TO - Dividend Comparison

GBAL.TO's dividend yield for the trailing twelve months is around 1.71%, less than XEI.TO's 3.53% yield.

PositionTTM20252024202320222021202020192018201720162015
GBAL.TO
iShares ESG Balanced ETF Portfolio		1.71%1.83%1.84%2.40%1.87%1.43%0.96%0.00%0.00%0.00%0.00%0.00%
XEI.TO
iShares S&P/TSX Composite High Dividend Index ETF		3.53%4.39%5.56%5.08%4.78%3.65%5.13%4.71%5.53%4.37%4.51%5.75%

Frequently Asked Questions

GBAL.TO and XEI.TO have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, XEI.TO is cheaper at 0.22% per year. The better choice depends on whether you care most about return, fees, risk, or income.

XEI.TO is cheaper with a 0.22% expense ratio, compared with 0.25% for GBAL.TO.

GBAL.TO is categorized as Diversified Portfolio, while XEI.TO is Canada Equities. Their fees differ too: 0.25% for GBAL.TO and 0.22% for XEI.TO.

Portfolio Optimizer

Find the right allocation for GBAL.TO and XEI.TO

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer