XBAL.TO vs. MGRW.TO
XBAL.TO (iShares Core Balanced ETF Portfolio) and MGRW.TO (Mackenzie Growth Allocation ETF) are both Diversified Portfolio funds. Both are actively managed. Over the past 5 years, XBAL.TO returned 8.15%/yr vs 12.14%/yr for MGRW.TO. At a 0.46 correlation, their price movements are largely independent.
Performance
XBAL.TO vs. MGRW.TO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, XBAL.TO achieves a 7.81% return, which is significantly lower than MGRW.TO's 9.90% return.
XBAL.TO
- 1D
- -0.36%
- 1M
- 4.13%
- YTD
- 7.81%
- 6M
- 6.00%
- 1Y
- 17.48%
- 3Y*
- 14.21%
- 5Y*
- 8.15%
- 10Y*
- 7.69%
MGRW.TO
- 1D
- 0.05%
- 1M
- 4.67%
- YTD
- 9.90%
- 6M
- 10.22%
- 1Y
- 25.89%
- 3Y*
- 19.61%
- 5Y*
- 12.14%
- 10Y*
- —
XBAL.TO vs. MGRW.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
XBAL.TO iShares Core Balanced ETF Portfolio | 7.81% | 11.87% | 15.76% | 13.01% | -11.19% | 10.11% | 6.12% |
MGRW.TO Mackenzie Growth Allocation ETF | 9.90% | 18.19% | 21.41% | 15.35% | -9.30% | 13.37% | 7.50% |
Correlation
The correlation between XBAL.TO and MGRW.TO is 0.62, 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 | 0.62 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.56 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.48 |
Correlation (All Time) Calculated using the full available price history since Sep 30, 2020 | 0.46 |
The correlation between XBAL.TO and MGRW.TO shifts across timeframes, from 0.46 (all time) to 0.62 (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
XBAL.TO vs. MGRW.TO — Risk / Return Rank
XBAL.TO
MGRW.TO
XBAL.TO vs. MGRW.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core Balanced ETF Portfolio (XBAL.TO) and Mackenzie Growth Allocation ETF (MGRW.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.
| XBAL.TO | MGRW.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.57 | ||
| Sortino ratioReturn per unit of downside risk | -1.09 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.56 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | 2.89 | 3.87 | -0.98 |
| Martin ratioReturn relative to average drawdown | 12.15 | 15.91 | -3.76 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| XBAL.TO | MGRW.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.06 | 2.64 | -0.57 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.93 | 1.14 | -0.21 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.82 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.68 | 1.25 | -0.58 |
Drawdowns
XBAL.TO vs. MGRW.TO - Drawdown Comparison
The maximum XBAL.TO drawdown since its inception was -28.83%, which is greater than MGRW.TO's maximum drawdown of -17.20%. Use the drawdown chart below to compare losses from any high point for XBAL.TO and MGRW.TO.
Loading charts...
Drawdown Indicators
| XBAL.TO | MGRW.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.83% | -17.20% | -11.63% |
Max Drawdown (1Y)Largest decline over 1 year | -6.06% | -6.72% | +0.66% |
Max Drawdown (3Y)Largest decline over 3 years | -9.35% | -12.17% | +2.82% |
Max Drawdown (5Y)Largest decline over 5 years | -17.12% | -17.20% | +0.08% |
Max Drawdown (10Y)Largest decline over 10 years | -20.93% | — | — |
Current DrawdownCurrent decline from peak | -0.36% | 0.00% | -0.36% |
Average DrawdownAverage peak-to-trough decline | -3.39% | -3.37% | -0.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.44% | 1.63% | -0.19% |
Volatility
XBAL.TO vs. MGRW.TO - Volatility Comparison
The current volatility for iShares Core Balanced ETF Portfolio (XBAL.TO) is 3.14%, while Mackenzie Growth Allocation ETF (MGRW.TO) has a volatility of 3.39%. This indicates that XBAL.TO experiences smaller price fluctuations and is considered to be less risky than MGRW.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| XBAL.TO | MGRW.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.14% | 3.39% | -0.25% |
Volatility (6M)Calculated over the trailing 6-month period | 7.21% | 8.09% | -0.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.51% | 9.87% | -1.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.79% | 10.68% | -1.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.37% | 10.49% | -1.12% |
Dividends
XBAL.TO vs. MGRW.TO - Dividend Comparison
XBAL.TO's dividend yield for the trailing twelve months is around 2.10%, more than MGRW.TO's 1.73% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MGRW.TO Mackenzie Growth Allocation ETF | 1.73% | 1.84% | 1.93% | 2.28% | 2.44% | 1.77% | 0.79% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XBAL.TO iShares Core Balanced ETF Portfolio | 2.10% | 2.24% | 2.68% | 2.40% | 2.09% | 1.74% | 1.99% | 2.26% | 3.39% | 2.93% | 3.64% | 3.29% |
Frequently Asked Questions
XBAL.TO and MGRW.TO have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
They also come from different issuers: iShares and Mackenzie.
Find the right allocation for XBAL.TO and MGRW.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