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RY vs. XBAL.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

RY vs. XBAL.TO

Last updated Jun 13, 2026

RY (Royal Bank of Canada) is a stock, while XBAL.TO (iShares Core Balanced ETF Portfolio) is Diversified Portfolio fund actively managed by iShares. Over the past 10 years, RY returned 17.18%/yr vs 6.74%/yr for XBAL.TO. At a 0.37 correlation, their price movements are largely independent.

Performance

RY vs. XBAL.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Royal Bank of Canada (RY) and iShares Core Balanced ETF Portfolio (XBAL.TO). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

RY is traded in USD, while XBAL.TO is traded in CAD. To make them comparable, the XBAL.TO values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, RY achieves a 18.68% return, which is significantly higher than XBAL.TO's 5.65% return. Over the past 10 years, RY has outperformed XBAL.TO with an annualized return of 17.18%, while XBAL.TO has yielded a comparatively lower 6.74% annualized return.

RY

1D
0.14%
1M
10.90%
YTD
18.68%
6M
21.99%
1Y
59.59%
3Y*
33.55%
5Y*
18.33%
10Y*
17.18%

XBAL.TO

1D
0.24%
1M
0.02%
YTD
5.65%
6M
5.25%
1Y
14.46%
3Y*
12.49%
5Y*
4.93%
10Y*
6.74%
*Multi-year figures are annualized to reflect compound growth (CAGR)

RY vs. XBAL.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
RY
Royal Bank of Canada		18.68%46.29%23.80%12.72%-8.00%34.11%8.42%20.17%-12.88%24.95%
XBAL.TO
iShares Core Balanced ETF Portfolio		5.65%17.26%6.76%15.80%-16.45%10.21%13.42%20.29%-10.28%13.21%

Correlation

The correlation between RY and XBAL.TO is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.45

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

0.42

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

0.44

Correlation (10Y)
Calculated over the trailing 10-year period

0.38

Correlation (All Time)
Calculated using the full available price history since Jun 21, 2007

0.37

Compare stocks, funds, or ETFs

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Royal Bank of Canada

iShares Core Balanced ETF Portfolio

Often compared with RY:
RY vs. TDRY vs. BNSRY vs. JPMRY vs. BMORY vs. TD.TORY vs. DOL.TORY vs. EQB.TO
Often compared with XBAL.TO:
XBAL.TO vs. XEQT.TOXBAL.TO vs. VBAL.TOXBAL.TO vs. XCNS.TOXBAL.TO vs. XEI.TOXBAL.TO vs. ZBAL.TOXBAL.TO vs. ZLB.TOXBAL.TO vs. GBAL.TO

Return for Risk

RY vs. XBAL.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
RY
RY Risk / Return Rank: 9797
Overall Rank
RY Sharpe Ratio Rank: 9898
Sharpe Ratio Rank
RY Sortino Ratio Rank: 9999
Sortino Ratio Rank
RY Omega Ratio Rank: 9898
Omega Ratio Rank
RY Calmar Ratio Rank: 9494
Calmar Ratio Rank
RY Martin Ratio Rank: 9797
Martin Ratio Rank
XBAL.TO
XBAL.TO Risk / Return Rank: 7070
Overall Rank
XBAL.TO Sharpe Ratio Rank: 7070
Sharpe Ratio Rank
XBAL.TO Sortino Ratio Rank: 7171
Sortino Ratio Rank
XBAL.TO Omega Ratio Rank: 7272
Omega Ratio Rank
XBAL.TO Calmar Ratio Rank: 6565
Calmar Ratio Rank
XBAL.TO Martin Ratio Rank: 7373
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.

RY vs. XBAL.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Royal Bank of Canada (RY) 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.

RYXBAL.TODifference
Sharpe ratioReturn per unit of total volatility
3.97
1.48

+2.49

Sortino ratioReturn per unit of downside risk
5.70
2.13

+3.57

Omega ratioGain probability vs. loss probability

1.70

1.27

+0.43

Calmar ratioReturn relative to maximum drawdown

5.97

2.08

+3.89

Martin ratioReturn relative to average drawdown

22.22

8.62

+13.60

RY vs. XBAL.TO - Sharpe Ratio Comparison

The current RY Sharpe Ratio is 3.97, which is higher than the XBAL.TO Sharpe Ratio of 1.48. The chart below compares the historical Sharpe Ratios of RY and XBAL.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.

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Drawdowns

RY vs. XBAL.TO - Drawdown Comparison

The maximum RY drawdown since its inception was -62.90%, which is greater than XBAL.TO's maximum drawdown of -47.75%. Use the drawdown chart below to compare losses from any high point for RY and XBAL.TO.

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Drawdown Indicators

RYXBAL.TODifference

Max Drawdown

Largest peak-to-trough decline

-62.90%

-47.75%

-15.15%

Max Drawdown (1Y)

Largest decline over 1 year

-10.04%

-6.98%

-3.06%

Max Drawdown (3Y)

Largest decline over 3 years

-19.88%

-9.87%

-10.01%

Max Drawdown (5Y)

Largest decline over 5 years

-28.36%

-24.50%

-3.86%

Max Drawdown (10Y)

Largest decline over 10 years

-39.95%

-27.62%

-12.33%

Current Drawdown

Current decline from peak

0.00%

-1.38%

+1.38%

Average Drawdown

Average peak-to-trough decline

-9.32%

-7.46%

-1.86%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.69%

1.68%

+1.01%

Volatility

RY vs. XBAL.TO - Volatility Comparison

Royal Bank of Canada (RY) has a higher volatility of 4.01% compared to iShares Core Balanced ETF Portfolio (XBAL.TO) at 3.55%. This indicates that RY's price experiences larger fluctuations and is considered to be riskier 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

RYXBAL.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

4.01%

3.55%

+0.46%

Volatility (6M)

Calculated over the trailing 6-month period

11.34%

8.06%

+3.28%

Volatility (1Y)

Calculated over the trailing 1-year period

15.10%

9.82%

+5.28%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.00%

10.86%

+7.14%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.76%

11.81%

+7.95%

Dividends

RY vs. XBAL.TO - Dividend Comparison

RY's dividend yield for the trailing twelve months is around 2.32%, more than XBAL.TO's 2.11% yield.

PositionTTM20252024202320222021202020192018201720162015
RY
Royal Bank of Canada		2.32%2.54%3.39%4.29%4.07%3.24%3.88%3.88%4.27%3.22%3.95%5.41%
XBAL.TO
iShares Core Balanced ETF Portfolio		2.11%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

RY and XBAL.TO have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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