VBAL.TO vs. ZGRO.TO
VBAL.TO (Vanguard Balanced ETF Portfolio) and ZGRO.TO (BMO Growth ETF) are both exchange-traded funds - VBAL.TO is a Diversified Portfolio fund actively managed by Vanguard, while ZGRO.TO is a Global Allocation fund actively managed by BMO. Both are actively managed. Over the past 5 years, VBAL.TO returned 7.72%/yr vs 15.63%/yr for ZGRO.TO. Their correlation of 0.90 suggests significant overlap in exposure. VBAL.TO charges 0.24%/yr vs 0.18%/yr for ZGRO.TO.
Performance
VBAL.TO vs. ZGRO.TO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, VBAL.TO achieves a 8.54% return, which is significantly lower than ZGRO.TO's 10.99% return.
VBAL.TO
- 1D
- 0.13%
- 1M
- 1.14%
- YTD
- 8.54%
- 6M
- 6.75%
- 1Y
- 17.50%
- 3Y*
- 14.38%
- 5Y*
- 7.72%
- 10Y*
- —
ZGRO.TO
- 1D
- 0.05%
- 1M
- 1.20%
- YTD
- 10.99%
- 6M
- 10.45%
- 1Y
- 25.69%
- 3Y*
- 22.99%
- 5Y*
- 15.63%
- 10Y*
- —
VBAL.TO vs. ZGRO.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
VBAL.TO Vanguard Balanced ETF Portfolio | 8.54% | 11.92% | 14.62% | 12.49% | -11.39% | 10.21% | 10.27% | 9.60% |
ZGRO.TO BMO Growth ETF | 10.99% | 18.65% | 25.70% | 20.36% | -5.92% | 20.50% | 17.11% | 16.29% |
Correlation
The correlation between VBAL.TO and ZGRO.TO is 0.87, 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 | 0.87 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.91 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.91 |
Correlation (All Time) Calculated using the full available price history since Feb 15, 2019 | 0.90 |
The correlation between VBAL.TO and ZGRO.TO has been stable across timeframes, ranging from 0.87 to 0.91 - a consistent structural relationship.
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
VBAL.TO vs. ZGRO.TO — Risk / Return Rank
VBAL.TO
ZGRO.TO
VBAL.TO vs. ZGRO.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Balanced ETF Portfolio (VBAL.TO) and BMO Growth ETF (ZGRO.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.
| VBAL.TO | ZGRO.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.08 | ||
| Sortino ratioReturn per unit of downside risk | -0.07 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.41 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.96 | 3.75 | -0.79 |
| Martin ratioReturn relative to average drawdown | 12.38 | 14.66 | -2.28 |
Loading charts...
Drawdowns
VBAL.TO vs. ZGRO.TO - Drawdown Comparison
The maximum VBAL.TO drawdown since its inception was -21.19%, smaller than the maximum ZGRO.TO drawdown of -24.67%. Use the drawdown chart below to compare losses from any high point for VBAL.TO and ZGRO.TO.
Loading charts...
Drawdown Indicators
| VBAL.TO | ZGRO.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.19% | -24.67% | +3.48% |
Max Drawdown (1Y)Largest decline over 1 year | -5.93% | -6.87% | +0.94% |
Max Drawdown (3Y)Largest decline over 3 years | -9.66% | -11.60% | +1.94% |
Max Drawdown (5Y)Largest decline over 5 years | -16.38% | -16.21% | -0.17% |
Current DrawdownCurrent decline from peak | -0.80% | -2.37% | +1.57% |
Average DrawdownAverage peak-to-trough decline | -3.13% | -2.49% | -0.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.42% | 1.76% | -0.34% |
Volatility
VBAL.TO vs. ZGRO.TO - Volatility Comparison
The current volatility for Vanguard Balanced ETF Portfolio (VBAL.TO) is 2.92%, while BMO Growth ETF (ZGRO.TO) has a volatility of 5.05%. This indicates that VBAL.TO experiences smaller price fluctuations and is considered to be less risky than ZGRO.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| VBAL.TO | ZGRO.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.92% | 5.05% | -2.13% |
Volatility (6M)Calculated over the trailing 6-month period | 7.03% | 9.90% | -2.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.34% | 11.81% | -3.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.71% | 11.18% | -2.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.10% | 13.19% | -3.09% |
VBAL.TO vs. ZGRO.TO - Expense Ratio Comparison
VBAL.TO has a 0.24% expense ratio, which is higher than ZGRO.TO's 0.18% 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. ZGRO.TO - Dividend Comparison
VBAL.TO's dividend yield for the trailing twelve months is around 2.06%, less than ZGRO.TO's 2.24% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
VBAL.TO Vanguard Balanced ETF Portfolio | 2.06% | 2.23% | 2.30% | 2.37% | 2.21% | 1.95% | 1.82% | 2.25% | 2.04% |
ZGRO.TO BMO Growth ETF | 2.24% | 3.38% | 5.76% | 6.81% | 7.63% | 6.65% | 7.47% | 6.95% | 0.00% |
Frequently Asked Questions
VBAL.TO and ZGRO.TO have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ZGRO.TO is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ZGRO.TO is cheaper with a 0.18% expense ratio, compared with 0.24% for VBAL.TO.
VBAL.TO is categorized as Diversified Portfolio, while ZGRO.TO is Global Allocation. They also come from different issuers: Vanguard and BMO. Their fees differ too: 0.24% for VBAL.TO and 0.18% for ZGRO.TO.
Find the right allocation for VBAL.TO and ZGRO.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