XBAL.TO vs. HBAL.TO
XBAL.TO (iShares Core Balanced 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, XBAL.TO returned 7.99%/yr vs 7.68%/yr for HBAL.TO. A 0.76 correlation means they provide meaningful diversification when combined. Both charge a 0.20% expense ratio.
Performance
XBAL.TO vs. HBAL.TO - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with XBAL.TO having a 8.27% return and HBAL.TO slightly higher at 8.33%.
XBAL.TO
- 1D
- 0.03%
- 1M
- 0.28%
- YTD
- 8.27%
- 6M
- 6.33%
- 1Y
- 16.60%
- 3Y*
- 14.84%
- 5Y*
- 7.99%
- 10Y*
- 7.81%
HBAL.TO
- 1D
- 0.00%
- 1M
- 1.43%
- YTD
- 8.33%
- 6M
- 8.37%
- 1Y
- 19.49%
- 3Y*
- 14.76%
- 5Y*
- 7.68%
- 10Y*
- —
XBAL.TO vs. HBAL.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
XBAL.TO iShares Core Balanced ETF Portfolio | 8.27% | 11.90% | 15.80% | 13.05% | -11.16% | 10.16% | 10.73% | 15.34% | -4.76% |
HBAL.TO Global X Balanced Asset Allocation ETF | 8.33% | 13.57% | 16.65% | 15.57% | -17.70% | 14.70% | 15.50% | 20.42% | -8.41% |
Correlation
The correlation between XBAL.TO and HBAL.TO is 0.81, 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 | 0.81 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.83 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.81 |
Correlation (All Time) Calculated using the full available price history since Aug 2, 2018 | 0.76 |
The correlation between XBAL.TO and HBAL.TO has been stable across timeframes, ranging from 0.76 to 0.83 - a consistent structural relationship.
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Return for Risk
XBAL.TO vs. HBAL.TO — Risk / Return Rank
XBAL.TO
HBAL.TO
XBAL.TO vs. HBAL.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core Balanced ETF Portfolio (XBAL.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.
| XBAL.TO | HBAL.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.54 | ||
| Sortino ratioReturn per unit of downside risk | -0.78 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.45 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 2.75 | 3.38 | -0.63 |
| Martin ratioReturn relative to average drawdown | 11.26 | 13.83 | -2.57 |
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Drawdowns
XBAL.TO vs. HBAL.TO - Drawdown Comparison
The maximum XBAL.TO drawdown since its inception was -28.55%, which is greater than HBAL.TO's maximum drawdown of -22.49%. Use the drawdown chart below to compare losses from any high point for XBAL.TO and HBAL.TO.
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Drawdown Indicators
| XBAL.TO | HBAL.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.55% | -22.49% | -6.06% |
Max Drawdown (1Y)Largest decline over 1 year | -6.06% | -5.80% | -0.26% |
Max Drawdown (3Y)Largest decline over 3 years | -9.34% | -9.29% | -0.05% |
Max Drawdown (5Y)Largest decline over 5 years | -17.10% | -22.11% | +5.01% |
Max Drawdown (10Y)Largest decline over 10 years | -20.93% | — | — |
Current DrawdownCurrent decline from peak | -2.60% | -0.90% | -1.70% |
Average DrawdownAverage peak-to-trough decline | -3.35% | -4.49% | +1.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.48% | 1.41% | +0.07% |
Volatility
XBAL.TO vs. HBAL.TO - Volatility Comparison
iShares Core Balanced ETF Portfolio (XBAL.TO) has a higher volatility of 3.86% compared to Global X Balanced Asset Allocation ETF (HBAL.TO) at 3.05%. This indicates that XBAL.TO's price experiences larger fluctuations and is considered to be riskier 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
| XBAL.TO | HBAL.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.86% | 3.05% | +0.81% |
Volatility (6M)Calculated over the trailing 6-month period | 7.99% | 7.04% | +0.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.18% | 8.31% | +0.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.94% | 10.56% | -1.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.80% | 12.14% | -2.34% |
XBAL.TO vs. HBAL.TO - Expense Ratio Comparison
Both XBAL.TO and HBAL.TO have an expense ratio of 0.20%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
XBAL.TO vs. HBAL.TO - Dividend Comparison
XBAL.TO's dividend yield for the trailing twelve months is around 2.10%, less than HBAL.TO's 2.24% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HBAL.TO Global X Balanced Asset Allocation ETF | 2.24% | 2.41% | 2.28% | 1.08% | 0.03% | 0.06% | 0.04% | 0.19% | 0.00% | 0.00% | 0.00% | 0.00% |
XBAL.TO iShares Core Balanced ETF Portfolio | 2.10% | 2.27% | 2.72% | 2.43% | 2.12% | 1.78% | 2.04% | 2.31% | 3.47% | 3.00% | 3.72% | 3.38% |
Frequently Asked Questions
XBAL.TO and HBAL.TO have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.20% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
XBAL.TO and HBAL.TO have the same expense ratio: 0.20% per year.
They also come from different issuers: iShares and Global X.
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