XCNS.TO vs. ZGRO.TO
XCNS.TO (iShares Core Conservative Balanced ETF Portfolio) and ZGRO.TO (BMO Growth ETF) are both exchange-traded funds - XCNS.TO is a Diversified Portfolio fund actively managed by iShares, while ZGRO.TO is a Global Allocation fund actively managed by BMO. Both are actively managed. Over the past 5 years, XCNS.TO returned 5.50%/yr vs 15.05%/yr for ZGRO.TO. A 0.71 correlation means they provide meaningful diversification when combined. XCNS.TO charges 0.20%/yr vs 0.18%/yr for ZGRO.TO.
Performance
XCNS.TO vs. ZGRO.TO - Performance Comparison
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Returns By Period
In the year-to-date period, XCNS.TO achieves a 5.91% return, which is significantly lower than ZGRO.TO's 11.37% return.
XCNS.TO
- 1D
- -0.04%
- 1M
- 0.26%
- 6M
- 4.26%
- YTD
- 5.91%
- 1Y
- 12.65%
- 3Y*
- 11.05%
- 5Y*
- 5.50%
- 10Y*
- —
ZGRO.TO
- 1D
- 0.10%
- 1M
- 0.97%
- 6M
- 8.09%
- YTD
- 11.37%
- 1Y
- 22.73%
- 3Y*
- 21.27%
- 5Y*
- 15.05%
- 10Y*
- —
XCNS.TO vs. ZGRO.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
XCNS.TO iShares Core Conservative Balanced ETF Portfolio | 5.91% | 10.46% | 11.73% | 10.67% | -11.25% | 5.93% | 10.28% | 3.19% |
ZGRO.TO BMO Growth ETF | 11.37% | 18.65% | 25.70% | 20.36% | -5.92% | 20.50% | 17.11% | 9.80% |
Correlation
The correlation between XCNS.TO and ZGRO.TO is 0.79, 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 | 0.79 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.80 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.74 |
Correlation (All Time) Calculated using the full available price history since Aug 7, 2019 | 0.71 |
The correlation between XCNS.TO and ZGRO.TO has been stable across timeframes, ranging from 0.71 to 0.80 - a consistent structural relationship.
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Return for Risk
XCNS.TO vs. ZGRO.TO — Risk / Return Rank
XCNS.TO
ZGRO.TO
XCNS.TO vs. ZGRO.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 BMO Growth ETF (ZGRO.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.
| XCNS.TO | ZGRO.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.05 | ||
| Sortino ratioReturn per unit of downside risk | -0.02 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.35 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.61 | 3.32 | -0.71 |
| Martin ratioReturn relative to average drawdown | 10.34 | 12.72 | -2.38 |
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Drawdowns
XCNS.TO vs. ZGRO.TO - Drawdown Comparison
The maximum XCNS.TO drawdown since its inception was -17.46%, smaller than the maximum ZGRO.TO drawdown of -24.67%. Use the drawdown chart below to compare losses from any high point for XCNS.TO and ZGRO.TO.
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Drawdown Indicators
| XCNS.TO | ZGRO.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.46% | -24.67% | +7.21% |
Max Drawdown (1Y)Largest decline over 1 year | -4.86% | -6.87% | +2.01% |
Max Drawdown (3Y)Largest decline over 3 years | -6.40% | -11.60% | +5.20% |
Max Drawdown (5Y)Largest decline over 5 years | -16.09% | -16.21% | +0.12% |
Current DrawdownCurrent decline from peak | -1.01% | -2.05% | +1.04% |
Average DrawdownAverage peak-to-trough decline | -3.45% | -2.49% | -0.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.23% | 1.79% | -0.56% |
Volatility
XCNS.TO vs. ZGRO.TO - Volatility Comparison
The current volatility for iShares Core Conservative Balanced ETF Portfolio (XCNS.TO) is 1.55%, while BMO Growth ETF (ZGRO.TO) has a volatility of 4.84%. This indicates that XCNS.TO experiences smaller price fluctuations and is considered to be less risky than ZGRO.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XCNS.TO | ZGRO.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.55% | 4.84% | -3.29% |
Volatility (6M)Calculated over the trailing 6-month period | 5.93% | 10.20% | -4.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.89% | 12.03% | -5.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.93% | 11.23% | -4.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.76% | 13.19% | -5.43% |
XCNS.TO vs. ZGRO.TO - Expense Ratio Comparison
XCNS.TO has a 0.20% expense ratio, which is higher than ZGRO.TO's 0.18% expense ratio. However, 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. ZGRO.TO - Dividend Comparison
XCNS.TO's dividend yield for the trailing twelve months is around 2.60%, more than ZGRO.TO's 1.43% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
XCNS.TO iShares Core Conservative Balanced ETF Portfolio | 2.60% | 2.54% | 2.58% | 2.49% | 2.26% | 1.81% | 2.15% | 0.92% |
ZGRO.TO BMO Growth ETF | 1.43% | 3.38% | 5.76% | 6.81% | 7.63% | 6.65% | 7.47% | 6.95% |
Frequently Asked Questions
XCNS.TO and ZGRO.TO have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ZGRO.TO is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ZGRO.TO is cheaper with a 0.18% expense ratio, compared with 0.20% for XCNS.TO.
XCNS.TO is categorized as Diversified Portfolio, while ZGRO.TO is Global Allocation. They also come from different issuers: iShares and BMO. Their fees differ too: 0.20% for XCNS.TO and 0.18% for ZGRO.TO.
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