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XBAL.TO vs. MNT.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XBAL.TO vs. MNT.TO

Last updated Jun 13, 2026

XBAL.TO (iShares Core Balanced ETF Portfolio) and MNT.TO (Royal Canadian Mint - Canadian Gold Reserves) are both exchange-traded funds - XBAL.TO is a Diversified Portfolio fund actively managed by iShares, while MNT.TO is a Gold fund. Over the past 10 years, XBAL.TO returned 7.66%/yr vs 12.87%/yr for MNT.TO. At a 0.01 correlation, their price movements are largely independent.

Performance

XBAL.TO vs. MNT.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares Core Balanced ETF Portfolio (XBAL.TO) and Royal Canadian Mint - Canadian Gold Reserves (MNT.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, XBAL.TO achieves a 7.90% return, which is significantly higher than MNT.TO's -5.87% return. Over the past 10 years, XBAL.TO has underperformed MNT.TO with an annualized return of 7.66%, while MNT.TO has yielded a comparatively higher 12.87% annualized return.

XBAL.TO

1D
0.53%
1M
2.14%
YTD
7.90%
6M
6.86%
1Y
17.15%
3Y*
14.22%
5Y*
8.02%
10Y*
7.66%

MNT.TO

1D
1.07%
1M
-10.48%
YTD
-5.87%
6M
-7.90%
1Y
21.05%
3Y*
32.02%
5Y*
20.37%
10Y*
12.87%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XBAL.TO vs. MNT.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
XBAL.TO
iShares Core Balanced ETF Portfolio		7.90%11.90%15.80%13.05%-11.16%10.16%10.73%15.34%-2.73%5.55%
MNT.TO
Royal Canadian Mint - Canadian Gold Reserves		-5.87%61.23%44.81%3.61%10.52%-10.51%26.14%13.47%5.87%5.52%

Correlation

The correlation between XBAL.TO and MNT.TO is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.23

Correlation (3Y)
Calculated over the trailing 3-year period

0.10

Correlation (5Y)
Calculated over the trailing 5-year period

0.06

Correlation (10Y)
Calculated over the trailing 10-year period

0.01

Correlation (All Time)
Calculated using the full available price history since Feb 13, 2012

0.01

Over the past year, XBAL.TO and MNT.TO have become more correlated (0.23) than their long-term average of 0.01, meaning their price movements have been converging.

Compare stocks, funds, or ETFs

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iShares Core Balanced ETF Portfolio

Royal Canadian Mint - Canadian Gold Reserves

Often compared with XBAL.TO:
XBAL.TO vs. XEQT.TOXBAL.TO vs. VBAL.TOXBAL.TO vs. XCNS.TOXBAL.TO vs. XEI.TOXBAL.TO vs. ZBAL.TOXBAL.TO vs. ZLB.TOXBAL.TO vs. GBAL.TO
Often compared with MNT.TO:
MNT.TO vs. KILO.TOMNT.TO vs. CGL-C.TOMNT.TO vs. PHYS.TOMNT.TO vs. XGD.TOMNT.TO vs. CGL.TOMNT.TO vs. ZGLD.TOMNT.TO vs. GLDM

Return for Risk

XBAL.TO vs. MNT.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XBAL.TO
XBAL.TO Risk / Return Rank: 7070
Overall Rank
XBAL.TO Sharpe Ratio Rank: 7070
Sharpe Ratio Rank
XBAL.TO Sortino Ratio Rank: 7171
Sortino Ratio Rank
XBAL.TO Omega Ratio Rank: 7272
Omega Ratio Rank
XBAL.TO Calmar Ratio Rank: 6565
Calmar Ratio Rank
XBAL.TO Martin Ratio Rank: 7373
Martin Ratio Rank
MNT.TO
MNT.TO Risk / Return Rank: 2222
Overall Rank
MNT.TO Sharpe Ratio Rank: 2222
Sharpe Ratio Rank
MNT.TO Sortino Ratio Rank: 2222
Sortino Ratio Rank
MNT.TO Omega Ratio Rank: 2525
Omega Ratio Rank
MNT.TO Calmar Ratio Rank: 2020
Calmar Ratio Rank
MNT.TO Martin Ratio Rank: 2020
Martin Ratio Rank
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.

XBAL.TO vs. MNT.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core Balanced ETF Portfolio (XBAL.TO) and Royal Canadian Mint - Canadian Gold Reserves (MNT.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.TOMNT.TODifference
Sharpe ratioReturn per unit of total volatility
1.97
0.69

+1.28

Sortino ratioReturn per unit of downside risk
2.76
1.10

+1.66

Omega ratioGain probability vs. loss probability

1.36

1.15

+0.21

Calmar ratioReturn relative to maximum drawdown

2.84

0.74

+2.10

Martin ratioReturn relative to average drawdown

11.82

2.05

+9.78

XBAL.TO vs. MNT.TO - Sharpe Ratio Comparison

The current XBAL.TO Sharpe Ratio is 1.97, which is higher than the MNT.TO Sharpe Ratio of 0.69. The chart below compares the historical Sharpe Ratios of XBAL.TO and MNT.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.

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Drawdowns

XBAL.TO vs. MNT.TO - Drawdown Comparison

The maximum XBAL.TO drawdown since its inception was -28.55%, smaller than the maximum MNT.TO drawdown of -34.79%. Use the drawdown chart below to compare losses from any high point for XBAL.TO and MNT.TO.

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Drawdown Indicators

XBAL.TOMNT.TODifference

Max Drawdown

Largest peak-to-trough decline

-28.55%

-34.79%

+6.24%

Max Drawdown (1Y)

Largest decline over 1 year

-6.06%

-28.55%

+22.49%

Max Drawdown (3Y)

Largest decline over 3 years

-9.34%

-28.55%

+19.21%

Max Drawdown (5Y)

Largest decline over 5 years

-17.10%

-28.55%

+11.45%

Max Drawdown (10Y)

Largest decline over 10 years

-20.93%

-33.58%

+12.65%

Current Drawdown

Current decline from peak

-0.36%

-24.98%

+24.62%

Average Drawdown

Average peak-to-trough decline

-3.35%

-15.85%

+12.50%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.46%

10.32%

-8.86%

Volatility

XBAL.TO vs. MNT.TO - Volatility Comparison

The current volatility for iShares Core Balanced ETF Portfolio (XBAL.TO) is 3.49%, while Royal Canadian Mint - Canadian Gold Reserves (MNT.TO) has a volatility of 7.78%. This indicates that XBAL.TO experiences smaller price fluctuations and is considered to be less risky than MNT.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.TOMNT.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.49%

7.78%

-4.29%

Volatility (6M)

Calculated over the trailing 6-month period

7.46%

25.95%

-18.49%

Volatility (1Y)

Calculated over the trailing 1-year period

8.76%

30.85%

-22.09%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

8.84%

20.49%

-11.65%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

9.78%

19.66%

-9.88%

Dividends

XBAL.TO vs. MNT.TO - Dividend Comparison

XBAL.TO's dividend yield for the trailing twelve months is around 2.11%, while MNT.TO has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
MNT.TO
Royal Canadian Mint - Canadian Gold Reserves		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
XBAL.TO
iShares Core Balanced ETF Portfolio		2.11%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 MNT.TO have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

XBAL.TO is categorized as Diversified Portfolio, while MNT.TO is Gold.

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