VBAL.TO vs. MIX.TO

Last updated Jun 4, 2026

VBAL.TO (Vanguard Balanced ETF Portfolio) and MIX.TO (Hamilton Enhanced Mixed Asset ETF) are both Diversified Portfolio funds. VBAL.TO is actively managed, while MIX.TO is passively managed. Over the past year, VBAL.TO returned 18.31% vs 28.31% for MIX.TO. A 0.77 correlation means they provide meaningful diversification when combined. VBAL.TO charges 0.24%/yr vs 0.00%/yr for MIX.TO.

Performance

VBAL.TO vs. MIX.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Vanguard Balanced ETF Portfolio (VBAL.TO) and Hamilton Enhanced Mixed Asset ETF (MIX.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with VBAL.TO having a 8.13% return and MIX.TO slightly higher at 8.17%.

VBAL.TO

• 1D: -0.30%
• 1M: 4.26%
• YTD: 8.13%
• 6M: 6.49%
• 1Y: 18.31%
• 3Y*: 13.79%
• 5Y*: 7.87%
• 10Y*: —

MIX.TO

• 1D: -0.70%
• 1M: 3.91%
• YTD: 8.17%
• 6M: 7.84%
• 1Y: 28.31%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

VBAL.TO vs. MIX.TO - Yearly Performance Comparison

	2026 (YTD)	2025
VBAL.TO Vanguard Balanced ETF Portfolio	8.13%	13.55%
MIX.TO Hamilton Enhanced Mixed Asset ETF	8.17%	25.24%

Correlation

The correlation between VBAL.TO and MIX.TO is 0.78, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.78
Correlation (All Time) Calculated using the full available price history since Apr 29, 2025	0.77

The correlation between VBAL.TO and MIX.TO has been stable across timeframes, ranging from 0.77 to 0.78 - a consistent structural relationship.

Return for Risk

VBAL.TO vs. MIX.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

VBAL.TO

VBAL.TO Risk / Return Rank: 68
VBAL.TO Sharpe Ratio Rank: 68
VBAL.TO Sortino Ratio Rank: 71
VBAL.TO Omega Ratio Rank: 71
VBAL.TO Calmar Ratio Rank: 61
VBAL.TO Martin Ratio Rank: 69

MIX.TO

MIX.TO Risk / Return Rank: 63
MIX.TO Sharpe Ratio Rank: 67
MIX.TO Sortino Ratio Rank: 66
MIX.TO Omega Ratio Rank: 66
MIX.TO Calmar Ratio Rank: 54
MIX.TO Martin Ratio Rank: 62

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.

VBAL.TO vs. MIX.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Balanced ETF Portfolio (VBAL.TO) and Hamilton Enhanced Mixed Asset ETF (MIX.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.

	VBAL.TO	MIX.TO	Difference
Sharpe ratio: Return per unit of total volatility	2.30	2.22	+0.08
Sortino ratio: Return per unit of downside risk	3.30	3.02	+0.27
Omega ratio: Gain probability vs. loss probability	1.44	1.40	+0.03
Calmar ratio: Return relative to maximum drawdown	3.10	2.66	+0.44
Martin ratio: Return relative to average drawdown	13.17	11.08	+2.09
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VBAL.TO vs. MIX.TO - Sharpe Ratio Comparison

The current VBAL.TO Sharpe Ratio is 2.30, which is comparable to the MIX.TO Sharpe Ratio of 2.22. The chart below compares the historical Sharpe Ratios of VBAL.TO and MIX.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.

Sharpe Ratios by Period

	VBAL.TO	MIX.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.30	2.22	+0.08
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.92	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.78	2.53	-1.76

Drawdowns

VBAL.TO vs. MIX.TO - Drawdown Comparison

The maximum VBAL.TO drawdown since its inception was -21.19%, which is greater than MIX.TO's maximum drawdown of -10.71%. Use the drawdown chart below to compare losses from any high point for VBAL.TO and MIX.TO.

Drawdown Indicators

	VBAL.TO	MIX.TO	Difference
Max Drawdown Largest peak-to-trough decline	-21.19%	-10.71%	-10.48%
Max Drawdown (1Y) Largest decline over 1 year	-5.93%	-10.71%	+4.78%
Max Drawdown (3Y) Largest decline over 3 years	-9.68%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-16.45%	—	—
Current Drawdown Current decline from peak	-0.30%	-0.70%	+0.40%
Average Drawdown Average peak-to-trough decline	-3.17%	-1.38%	-1.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.39%	2.56%	-1.17%

Volatility

VBAL.TO vs. MIX.TO - Volatility Comparison

The current volatility for Vanguard Balanced ETF Portfolio (VBAL.TO) is 2.73%, while Hamilton Enhanced Mixed Asset ETF (MIX.TO) has a volatility of 4.07%. This indicates that VBAL.TO experiences smaller price fluctuations and is considered to be less risky than MIX.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VBAL.TO	MIX.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.73%	4.07%	-1.34%
Volatility (6M) Calculated over the trailing 6-month period	6.59%	10.51%	-3.92%
Volatility (1Y) Calculated over the trailing 1-year period	7.99%	12.82%	-4.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.63%	12.63%	-4.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.09%	12.63%	-2.54%

VBAL.TO vs. MIX.TO - Expense Ratio Comparison

VBAL.TO has a 0.24% expense ratio, which is higher than MIX.TO's 0.00% 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

VBAL.TO vs. MIX.TO - Dividend Comparison

VBAL.TO's dividend yield for the trailing twelve months is around 2.05%, more than MIX.TO's 1.57% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
MIX.TO Hamilton Enhanced Mixed Asset ETF	1.57%	1.23%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VBAL.TO Vanguard Balanced ETF Portfolio	2.05%	2.21%	2.26%	2.32%	2.16%	1.91%	1.79%	2.20%	1.99%

Frequently Asked Questions

Can I hold both VBAL.TO and MIX.TO in my portfolio?

VBAL.TO and MIX.TO have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, VBAL.TO or MIX.TO?

On fees, MIX.TO is cheaper at 0.00% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, VBAL.TO or MIX.TO?

MIX.TO is cheaper with a 0.00% expense ratio, compared with 0.24% for VBAL.TO.

What is the main difference between VBAL.TO and MIX.TO?

They also come from different issuers: Vanguard and Hamilton. Their fees differ too: 0.24% for VBAL.TO and 0.00% for MIX.TO.