XBAL.TO vs. PFIA.TO
XBAL.TO (iShares Core Balanced ETF Portfolio) and PFIA.TO (Picton Mahoney Fortified Income Alternative Fund) are both exchange-traded funds - XBAL.TO is a Diversified Portfolio fund actively managed by iShares, while PFIA.TO is a fund fund. Over the past 5 years, XBAL.TO returned 8.15%/yr vs 3.36%/yr for PFIA.TO. At a 0.06 correlation, their price movements are largely independent.
Performance
XBAL.TO vs. PFIA.TO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, XBAL.TO achieves a 7.81% return, which is significantly higher than PFIA.TO's 0.42% 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%
PFIA.TO
- 1D
- -0.20%
- 1M
- 0.72%
- YTD
- 0.42%
- 6M
- 0.81%
- 1Y
- 3.71%
- 3Y*
- 6.11%
- 5Y*
- 3.36%
- 10Y*
- —
XBAL.TO vs. PFIA.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
XBAL.TO iShares Core Balanced ETF Portfolio | 7.81% | 11.87% | 15.76% | 13.01% | -11.19% | 10.11% | 10.67% | 4.32% |
PFIA.TO Picton Mahoney Fortified Income Alternative Fund | 0.42% | 5.46% | 7.72% | 7.27% | -3.42% | 3.17% | 9.28% | 3.68% |
Correlation
The correlation between XBAL.TO and PFIA.TO is -0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.05 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.06 |
Correlation (All Time) Calculated using the full available price history since Jul 19, 2019 | 0.06 |
The correlation between XBAL.TO and PFIA.TO shifts across timeframes, from -0.05 (1 year) to 0.06 (all time), 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. PFIA.TO — Risk / Return Rank
XBAL.TO
PFIA.TO
XBAL.TO vs. PFIA.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core Balanced ETF Portfolio (XBAL.TO) and Picton Mahoney Fortified Income Alternative Fund (PFIA.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 | PFIA.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.57 | ||
| Sortino ratioReturn per unit of downside risk | +0.64 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.29 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 2.89 | 2.75 | +0.15 |
| Martin ratioReturn relative to average drawdown | 12.15 | 7.73 | +4.43 |
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 | PFIA.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.06 | 1.49 | +0.57 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.93 | 0.81 | +0.12 |
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 | 0.76 | -0.08 |
Drawdowns
XBAL.TO vs. PFIA.TO - Drawdown Comparison
The maximum XBAL.TO drawdown since its inception was -28.83%, which is greater than PFIA.TO's maximum drawdown of -17.12%. Use the drawdown chart below to compare losses from any high point for XBAL.TO and PFIA.TO.
Loading charts...
Drawdown Indicators
| XBAL.TO | PFIA.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.83% | -17.12% | -11.71% |
Max Drawdown (1Y)Largest decline over 1 year | -6.06% | -1.36% | -4.70% |
Max Drawdown (3Y)Largest decline over 3 years | -9.35% | -1.47% | -7.88% |
Max Drawdown (5Y)Largest decline over 5 years | -17.12% | -6.46% | -10.66% |
Max Drawdown (10Y)Largest decline over 10 years | -20.93% | — | — |
Current DrawdownCurrent decline from peak | -0.36% | -0.50% | +0.14% |
Average DrawdownAverage peak-to-trough decline | -3.39% | -1.13% | -2.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.44% | 0.48% | +0.96% |
Volatility
XBAL.TO vs. PFIA.TO - Volatility Comparison
iShares Core Balanced ETF Portfolio (XBAL.TO) has a higher volatility of 3.14% compared to Picton Mahoney Fortified Income Alternative Fund (PFIA.TO) at 1.15%. This indicates that XBAL.TO's price experiences larger fluctuations and is considered to be riskier than PFIA.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| XBAL.TO | PFIA.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.14% | 1.15% | +1.99% |
Volatility (6M)Calculated over the trailing 6-month period | 7.21% | 1.89% | +5.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.51% | 2.50% | +6.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.79% | 4.16% | +4.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.37% | 6.41% | +2.96% |
Dividends
XBAL.TO vs. PFIA.TO - Dividend Comparison
XBAL.TO's dividend yield for the trailing twelve months is around 2.10%, less than PFIA.TO's 4.49% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PFIA.TO Picton Mahoney Fortified Income Alternative Fund | 4.49% | 3.96% | 3.68% | 5.64% | 4.69% | 4.25% | 6.03% | 1.93% | 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 PFIA.TO have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Find the right allocation for XBAL.TO and PFIA.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