XCNS.TO vs. VBAL.TO

Last updated Jun 4, 2026

XCNS.TO (iShares Core Conservative Balanced ETF Portfolio) and VBAL.TO (Vanguard Balanced ETF Portfolio) are both Diversified Portfolio funds. Both are actively managed. Over the past 5 years, XCNS.TO returned 5.71%/yr vs 7.87%/yr for VBAL.TO. Their correlation of 0.81 suggests significant overlap in exposure. XCNS.TO charges 0.20%/yr vs 0.24%/yr for VBAL.TO.

Performance

XCNS.TO vs. VBAL.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares Core Conservative Balanced ETF Portfolio (XCNS.TO) and Vanguard Balanced ETF Portfolio (VBAL.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XCNS.TO achieves a 5.57% return, which is significantly lower than VBAL.TO's 8.13% return.

XCNS.TO

• 1D: -0.26%
• 1M: 3.19%
• YTD: 5.57%
• 6M: 4.19%
• 1Y: 12.72%
• 3Y*: 10.96%
• 5Y*: 5.71%
• 10Y*: —

VBAL.TO

• 1D: -0.30%
• 1M: 4.26%
• YTD: 8.13%
• 6M: 6.49%
• 1Y: 18.31%
• 3Y*: 13.79%
• 5Y*: 7.87%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

XCNS.TO vs. VBAL.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
XCNS.TO iShares Core Conservative Balanced ETF Portfolio	5.57%	9.44%	11.73%	10.66%	-11.25%	5.93%	10.28%	3.45%
VBAL.TO Vanguard Balanced ETF Portfolio	8.13%	11.88%	14.56%	12.43%	-11.44%	10.16%	10.23%	5.58%

Correlation

The correlation between XCNS.TO and VBAL.TO is 0.93, 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	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.89
Correlation (5Y) Calculated over the trailing 5-year period	0.83
Correlation (All Time) Calculated using the full available price history since Aug 26, 2019	0.81

The correlation between XCNS.TO and VBAL.TO shifts across timeframes, from 0.81 (all time) to 0.93 (1 year), reflecting how their relationship changes across market environments.

XCNS.TO vs. VBAL.TO - Sectors Allocation Comparison

Sectors	XCNS.TO	VBAL.TO
Technology	12.2%	20.4%
Financial Services	9.4%	20.6%
Industrials	3.6%	11.6%
Communication Services	3.1%	6.1%
Energy	3.1%	8.6%
Consumer Cyclical	3.1%	7.9%
Basic Materials	2.7%	8.5%
Healthcare	2.4%	6.7%
Consumer Defensive	1.7%	4.6%
Utilities	0.7%	2.8%
Real Estate	0.2%	2.3%

Return for Risk

XCNS.TO vs. VBAL.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

XCNS.TO

XCNS.TO Risk / Return Rank: 56
XCNS.TO Sharpe Ratio Rank: 55
XCNS.TO Sortino Ratio Rank: 57
XCNS.TO Omega Ratio Rank: 60
XCNS.TO Calmar Ratio Rank: 52
XCNS.TO Martin Ratio Rank: 58

VBAL.TO

VBAL.TO Risk / Return Rank: 68
VBAL.TO Sharpe Ratio Rank: 68
VBAL.TO Sortino Ratio Rank: 71
VBAL.TO Omega Ratio Rank: 71
VBAL.TO Calmar Ratio Rank: 61
VBAL.TO Martin Ratio Rank: 69

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.

XCNS.TO vs. VBAL.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core Conservative Balanced ETF Portfolio (XCNS.TO) and Vanguard Balanced ETF Portfolio (VBAL.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.

	XCNS.TO	VBAL.TO	Difference
Sharpe ratio: Return per unit of total volatility	1.92	2.30	-0.39
Sortino ratio: Return per unit of downside risk	2.75	3.30	-0.54
Omega ratio: Gain probability vs. loss probability	1.37	1.44	-0.06
Calmar ratio: Return relative to maximum drawdown	2.63	3.10	-0.47
Martin ratio: Return relative to average drawdown	10.25	13.17	-2.92
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XCNS.TO vs. VBAL.TO - Sharpe Ratio Comparison

The current XCNS.TO Sharpe Ratio is 1.92, which is comparable to the VBAL.TO Sharpe Ratio of 2.30. The chart below compares the historical Sharpe Ratios of XCNS.TO and VBAL.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.

Sharpe Ratios by Period

	XCNS.TO	VBAL.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.92	2.30	-0.39
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.84	0.92	-0.08
Sharpe Ratio (All Time) Calculated using the full available price history	0.86	0.78	+0.08

Drawdowns

XCNS.TO vs. VBAL.TO - Drawdown Comparison

The maximum XCNS.TO drawdown since its inception was -16.96%, smaller than the maximum VBAL.TO drawdown of -21.19%. Use the drawdown chart below to compare losses from any high point for XCNS.TO and VBAL.TO.

Drawdown Indicators

	XCNS.TO	VBAL.TO	Difference
Max Drawdown Largest peak-to-trough decline	-16.96%	-21.19%	+4.23%
Max Drawdown (1Y) Largest decline over 1 year	-4.86%	-5.93%	+1.07%
Max Drawdown (3Y) Largest decline over 3 years	-6.40%	-9.68%	+3.28%
Max Drawdown (5Y) Largest decline over 5 years	-16.09%	-16.45%	+0.36%
Current Drawdown Current decline from peak	-0.79%	-0.30%	-0.49%
Average Drawdown Average peak-to-trough decline	-3.49%	-3.17%	-0.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.24%	1.39%	-0.15%

Volatility

XCNS.TO vs. VBAL.TO - Volatility Comparison

iShares Core Conservative Balanced ETF Portfolio (XCNS.TO) has a higher volatility of 3.14% compared to Vanguard Balanced ETF Portfolio (VBAL.TO) at 2.73%. This indicates that XCNS.TO's price experiences larger fluctuations and is considered to be riskier than VBAL.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XCNS.TO	VBAL.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.14%	2.73%	+0.41%
Volatility (6M) Calculated over the trailing 6-month period	5.72%	6.59%	-0.87%
Volatility (1Y) Calculated over the trailing 1-year period	6.67%	7.99%	-1.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.86%	8.63%	-1.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.61%	10.09%	-2.48%

XCNS.TO vs. VBAL.TO - Expense Ratio Comparison

XCNS.TO has a 0.20% expense ratio, which is lower than VBAL.TO's 0.24% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

XCNS.TO vs. VBAL.TO - Dividend Comparison

XCNS.TO's dividend yield for the trailing twelve months is around 2.50%, more than VBAL.TO's 2.05% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
VBAL.TO Vanguard Balanced ETF Portfolio	2.05%	2.21%	2.26%	2.32%	2.16%	1.91%	1.79%	2.20%	1.99%
XCNS.TO iShares Core Conservative Balanced ETF Portfolio	2.50%	2.55%	2.58%	2.49%	2.26%	1.81%	2.15%	0.92%	0.00%

Frequently Asked Questions

Can I hold both XCNS.TO and VBAL.TO in my portfolio?

With a correlation of 0.93, XCNS.TO and VBAL.TO move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, XCNS.TO or VBAL.TO?

On fees, XCNS.TO is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XCNS.TO or VBAL.TO?

XCNS.TO is cheaper with a 0.20% expense ratio, compared with 0.24% for VBAL.TO.

What is the main difference between XCNS.TO and VBAL.TO?

They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.20% for XCNS.TO and 0.24% for VBAL.TO.