TCON.TO vs. XBAL.TO
TCON.TO (TD Conservative ETF Portfolio) and XBAL.TO (iShares Core Balanced ETF Portfolio) are both Diversified Portfolio funds. Both are actively managed. Over the past 5 years, TCON.TO returned 5.86%/yr vs 8.15%/yr for XBAL.TO. A 0.51 correlation means they provide meaningful diversification when combined.
Performance
TCON.TO vs. XBAL.TO - Performance Comparison
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Returns By Period
In the year-to-date period, TCON.TO achieves a 5.47% return, which is significantly lower than XBAL.TO's 7.81% return.
TCON.TO
- 1D
- -0.12%
- 1M
- 3.36%
- YTD
- 5.47%
- 6M
- 5.16%
- 1Y
- 13.36%
- 3Y*
- 10.64%
- 5Y*
- 5.86%
- 10Y*
- —
XBAL.TO
- 1D
- -0.36%
- 1M
- 4.13%
- YTD
- 7.81%
- 6M
- 6.00%
- 1Y
- 17.48%
- 3Y*
- 14.21%
- 5Y*
- 8.15%
- 10Y*
- 7.69%
TCON.TO vs. XBAL.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
TCON.TO TD Conservative ETF Portfolio | 5.47% | 10.47% | 9.68% | 11.95% | -12.34% | 5.71% | 2.79% |
XBAL.TO iShares Core Balanced ETF Portfolio | 7.81% | 11.87% | 15.76% | 13.01% | -11.19% | 10.11% | 5.35% |
Correlation
The correlation between TCON.TO and XBAL.TO is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.83 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.68 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.52 |
Correlation (All Time) Calculated using the full available price history since Aug 26, 2020 | 0.51 |
Over the past year, TCON.TO and XBAL.TO have become more correlated (0.83) than their long-term average of 0.51, meaning their price movements have been converging.
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Return for Risk
TCON.TO vs. XBAL.TO — Risk / Return Rank
TCON.TO
XBAL.TO
TCON.TO vs. XBAL.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for TD Conservative ETF Portfolio (TCON.TO) 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.
| TCON.TO | XBAL.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.06 | ||
| Sortino ratioReturn per unit of downside risk | +0.18 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.39 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.65 | 2.89 | -0.25 |
| Martin ratioReturn relative to average drawdown | 11.37 | 12.15 | -0.78 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| TCON.TO | XBAL.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.13 | 2.06 | +0.06 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.76 | 0.93 | -0.17 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.82 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.73 | 0.68 | +0.05 |
Drawdowns
TCON.TO vs. XBAL.TO - Drawdown Comparison
The maximum TCON.TO drawdown since its inception was -16.43%, smaller than the maximum XBAL.TO drawdown of -28.83%. Use the drawdown chart below to compare losses from any high point for TCON.TO and XBAL.TO.
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Drawdown Indicators
| TCON.TO | XBAL.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.43% | -28.83% | +12.40% |
Max Drawdown (1Y)Largest decline over 1 year | -5.06% | -6.06% | +1.00% |
Max Drawdown (3Y)Largest decline over 3 years | -6.18% | -9.35% | +3.17% |
Max Drawdown (5Y)Largest decline over 5 years | -16.43% | -17.12% | +0.69% |
Max Drawdown (10Y)Largest decline over 10 years | — | -20.93% | — |
Current DrawdownCurrent decline from peak | -0.12% | -0.36% | +0.24% |
Average DrawdownAverage peak-to-trough decline | -3.74% | -3.39% | -0.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.18% | 1.44% | -0.26% |
Volatility
TCON.TO vs. XBAL.TO - Volatility Comparison
The current volatility for TD Conservative ETF Portfolio (TCON.TO) is 1.98%, while iShares Core Balanced ETF Portfolio (XBAL.TO) has a volatility of 3.14%. This indicates that TCON.TO 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
| TCON.TO | XBAL.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.98% | 3.14% | -1.16% |
Volatility (6M)Calculated over the trailing 6-month period | 5.27% | 7.21% | -1.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.30% | 8.51% | -2.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.78% | 8.79% | -1.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.56% | 9.37% | -1.81% |
Dividends
TCON.TO vs. XBAL.TO - Dividend Comparison
TCON.TO's dividend yield for the trailing twelve months is around 2.62%, more than XBAL.TO's 2.10% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TCON.TO TD Conservative ETF Portfolio | 2.62% | 2.88% | 3.48% | 3.27% | 2.69% | 1.87% | 1.03% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XBAL.TO iShares Core Balanced ETF Portfolio | 2.10% | 2.24% | 2.68% | 2.40% | 2.09% | 1.74% | 1.99% | 2.26% | 3.39% | 2.93% | 3.64% | 3.29% |
Frequently Asked Questions
TCON.TO and XBAL.TO have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
They also come from different issuers: TD and iShares.
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