TULB.TO vs. TBAL.TO
TULB.TO (TD U.S. Long Term Treasury Bond ETF) and TBAL.TO (TD Balanced ETF Portfolio) are both exchange-traded funds - TULB.TO is a Government Bonds fund actively managed by TD, while TBAL.TO is a Global Allocation fund actively managed by TD. Both are actively managed. Over the past 5 years, TULB.TO returned -4.35%/yr vs 8.61%/yr for TBAL.TO. At a 0.16 correlation, their price movements are largely independent.
Performance
TULB.TO vs. TBAL.TO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, TULB.TO achieves a 1.32% return, which is significantly lower than TBAL.TO's 8.36% return.
TULB.TO
- 1D
- 0.01%
- 1M
- -0.69%
- 6M
- -1.01%
- YTD
- 1.32%
- 1Y
- 6.29%
- 3Y*
- 0.37%
- 5Y*
- -4.35%
- 10Y*
- —
TBAL.TO
- 1D
- 0.13%
- 1M
- 0.13%
- 6M
- 5.95%
- YTD
- 8.36%
- 1Y
- 18.21%
- 3Y*
- 14.32%
- 5Y*
- 8.61%
- 10Y*
- —
TULB.TO vs. TBAL.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
TULB.TO TD U.S. Long Term Treasury Bond ETF | 1.32% | 0.01% | -0.66% | 0.23% | -20.71% | -5.23% | -6.30% |
TBAL.TO TD Balanced ETF Portfolio | 8.36% | 13.83% | 15.32% | 15.85% | -12.63% | 13.07% | 5.05% |
Correlation
The correlation between TULB.TO and TBAL.TO is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.30 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.29 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.18 |
Correlation (All Time) Calculated using the full available price history since Aug 18, 2020 | 0.16 |
The correlation between TULB.TO and TBAL.TO shifts across timeframes, from 0.16 (all time) to 0.30 (1 year), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
TULB.TO vs. TBAL.TO — Risk / Return Rank
TULB.TO
TBAL.TO
TULB.TO vs. TBAL.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for TD U.S. Long Term Treasury Bond ETF (TULB.TO) and TD Balanced ETF Portfolio (TBAL.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.
| TULB.TO | TBAL.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.57 | ||
| Sortino ratioReturn per unit of downside risk | -2.16 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.41 | -0.29 |
| Calmar ratioReturn relative to maximum drawdown | 0.74 | 3.06 | -2.31 |
| Martin ratioReturn relative to average drawdown | 1.58 | 12.90 | -11.33 |
Loading charts...
Drawdowns
TULB.TO vs. TBAL.TO - Drawdown Comparison
The maximum TULB.TO drawdown since its inception was -44.56%, which is greater than TBAL.TO's maximum drawdown of -17.34%. Use the drawdown chart below to compare losses from any high point for TULB.TO and TBAL.TO.
Loading charts...
Drawdown Indicators
| TULB.TO | TBAL.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -44.56% | -17.34% | -27.22% |
Max Drawdown (1Y)Largest decline over 1 year | -8.51% | -5.98% | -2.53% |
Max Drawdown (3Y)Largest decline over 3 years | -13.17% | -9.07% | -4.10% |
Max Drawdown (5Y)Largest decline over 5 years | -34.06% | -17.34% | -16.72% |
Current DrawdownCurrent decline from peak | -35.90% | -1.01% | -34.89% |
Average DrawdownAverage peak-to-trough decline | -30.44% | -3.49% | -26.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.00% | 1.41% | +2.59% |
Volatility
TULB.TO vs. TBAL.TO - Volatility Comparison
TD U.S. Long Term Treasury Bond ETF (TULB.TO) has a higher volatility of 2.78% compared to TD Balanced ETF Portfolio (TBAL.TO) at 1.81%. This indicates that TULB.TO's price experiences larger fluctuations and is considered to be riskier than TBAL.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| TULB.TO | TBAL.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.78% | 1.81% | +0.97% |
Volatility (6M)Calculated over the trailing 6-month period | 7.00% | 6.86% | +0.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.35% | 8.18% | +1.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.01% | 9.16% | +6.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.77% | 8.97% | +7.80% |
Dividends
TULB.TO vs. TBAL.TO - Dividend Comparison
TULB.TO's dividend yield for the trailing twelve months is around 4.61%, more than TBAL.TO's 2.26% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
TBAL.TO TD Balanced ETF Portfolio | 2.26% | 2.56% | 2.55% | 2.65% | 2.65% | 1.75% | 0.88% |
TULB.TO TD U.S. Long Term Treasury Bond ETF | 4.61% | 4.54% | 1.99% | 3.37% | 1.04% | 0.21% | 0.00% |
Frequently Asked Questions
TULB.TO and TBAL.TO have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TULB.TO is categorized as Government Bonds, while TBAL.TO is Global Allocation.
Find the right allocation for TULB.TO and TBAL.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