VRIF.TO vs. HBAL.TO
VRIF.TO (Vanguard Retirement Income ETF Portfolio) and HBAL.TO (Global X Balanced Asset Allocation ETF) are both Diversified Portfolio funds. Both are actively managed. Over the past 5 years, VRIF.TO returned 4.62%/yr vs 7.68%/yr for HBAL.TO. A 0.77 correlation means they provide meaningful diversification when combined. VRIF.TO charges 0.29%/yr vs 0.20%/yr for HBAL.TO.
Performance
VRIF.TO vs. HBAL.TO - Performance Comparison
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Returns By Period
In the year-to-date period, VRIF.TO achieves a 5.29% return, which is significantly lower than HBAL.TO's 8.33% return.
VRIF.TO
- 1D
- 0.11%
- 1M
- 0.58%
- YTD
- 5.29%
- 6M
- 5.06%
- 1Y
- 11.63%
- 3Y*
- 10.10%
- 5Y*
- 4.62%
- 10Y*
- —
HBAL.TO
- 1D
- 0.00%
- 1M
- 1.43%
- YTD
- 8.33%
- 6M
- 8.37%
- 1Y
- 19.49%
- 3Y*
- 14.76%
- 5Y*
- 7.68%
- 10Y*
- —
VRIF.TO vs. HBAL.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
VRIF.TO Vanguard Retirement Income ETF Portfolio | 5.29% | 10.60% | 8.42% | 8.96% | -11.50% | 7.44% | 5.09% |
HBAL.TO Global X Balanced Asset Allocation ETF | 8.33% | 13.57% | 16.65% | 15.57% | -17.70% | 14.70% | 6.77% |
Correlation
The correlation between VRIF.TO and HBAL.TO is 0.86, 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 | 0.86 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.79 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.77 |
Correlation (All Time) Calculated using the full available price history since Sep 16, 2020 | 0.77 |
The correlation between VRIF.TO and HBAL.TO has been stable across timeframes, ranging from 0.77 to 0.86 - a consistent structural relationship.
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Return for Risk
VRIF.TO vs. HBAL.TO — Risk / Return Rank
VRIF.TO
HBAL.TO
VRIF.TO vs. HBAL.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Retirement Income ETF Portfolio (VRIF.TO) and Global X Balanced Asset Allocation ETF (HBAL.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.
| VRIF.TO | HBAL.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.26 | ||
| Sortino ratioReturn per unit of downside risk | -0.26 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.45 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.56 | 3.38 | -0.82 |
| Martin ratioReturn relative to average drawdown | 10.52 | 13.83 | -3.30 |
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Drawdowns
VRIF.TO vs. HBAL.TO - Drawdown Comparison
The maximum VRIF.TO drawdown since its inception was -16.19%, smaller than the maximum HBAL.TO drawdown of -22.49%. Use the drawdown chart below to compare losses from any high point for VRIF.TO and HBAL.TO.
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Drawdown Indicators
| VRIF.TO | HBAL.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.19% | -22.49% | +6.30% |
Max Drawdown (1Y)Largest decline over 1 year | -4.57% | -5.80% | +1.23% |
Max Drawdown (3Y)Largest decline over 3 years | -5.01% | -9.29% | +4.28% |
Max Drawdown (5Y)Largest decline over 5 years | -16.19% | -22.11% | +5.92% |
Current DrawdownCurrent decline from peak | -0.40% | -0.90% | +0.50% |
Average DrawdownAverage peak-to-trough decline | -3.84% | -4.49% | +0.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.11% | 1.41% | -0.30% |
Volatility
VRIF.TO vs. HBAL.TO - Volatility Comparison
The current volatility for Vanguard Retirement Income ETF Portfolio (VRIF.TO) is 1.81%, while Global X Balanced Asset Allocation ETF (HBAL.TO) has a volatility of 3.05%. This indicates that VRIF.TO experiences smaller price fluctuations and is considered to be less risky than HBAL.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VRIF.TO | HBAL.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.81% | 3.05% | -1.24% |
Volatility (6M)Calculated over the trailing 6-month period | 4.83% | 7.04% | -2.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.57% | 8.31% | -2.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.26% | 10.56% | -4.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.26% | 12.14% | -5.88% |
VRIF.TO vs. HBAL.TO - Expense Ratio Comparison
VRIF.TO has a 0.29% expense ratio, which is higher than HBAL.TO's 0.20% expense ratio.
Dividends
VRIF.TO vs. HBAL.TO - Dividend Comparison
VRIF.TO's dividend yield for the trailing twelve months is around 3.71%, more than HBAL.TO's 2.24% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
HBAL.TO Global X Balanced Asset Allocation ETF | 2.24% | 2.41% | 2.28% | 1.08% | 0.03% | 0.06% | 0.04% | 0.19% |
VRIF.TO Vanguard Retirement Income ETF Portfolio | 3.71% | 3.77% | 3.94% | 4.32% | 4.72% | 3.86% | 1.27% | 0.00% |
Frequently Asked Questions
VRIF.TO and HBAL.TO have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HBAL.TO is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HBAL.TO is cheaper with a 0.20% expense ratio, compared with 0.29% for VRIF.TO.
They also come from different issuers: Vanguard and Global X. Their fees differ too: 0.29% for VRIF.TO and 0.20% for HBAL.TO.
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