XCV.TO vs. XBAL.TO
XCV.TO (iShares Canadian Value Index ETF) and XBAL.TO (iShares Core Balanced ETF Portfolio) are both exchange-traded funds - XCV.TO is a Canada Equities fund tracking the Morningstar Canada GR CAD, while XBAL.TO is a Diversified Portfolio fund actively managed by iShares. XCV.TO is passively managed, while XBAL.TO is actively managed. Over the past 10 years, XCV.TO returned 13.72%/yr vs 7.57%/yr for XBAL.TO. At a 0.45 correlation, their price movements are largely independent. XCV.TO charges 0.55%/yr vs 0.20%/yr for XBAL.TO.
Performance
XCV.TO vs. XBAL.TO - Performance Comparison
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Returns By Period
In the year-to-date period, XCV.TO achieves a 26.43% return, which is significantly higher than XBAL.TO's 8.69% return. Over the past 10 years, XCV.TO has outperformed XBAL.TO with an annualized return of 13.72%, while XBAL.TO has yielded a comparatively lower 7.57% annualized return.
XCV.TO
- 1D
- 0.34%
- 1M
- 3.32%
- 6M
- 25.65%
- YTD
- 26.43%
- 1Y
- 49.66%
- 3Y*
- 29.41%
- 5Y*
- 20.01%
- 10Y*
- 13.72%
XBAL.TO
- 1D
- -0.50%
- 1M
- 0.73%
- 6M
- 6.02%
- YTD
- 8.69%
- 1Y
- 16.15%
- 3Y*
- 13.97%
- 5Y*
- 7.78%
- 10Y*
- 7.57%
XCV.TO vs. XBAL.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XCV.TO iShares Canadian Value Index ETF | 26.43% | 32.30% | 21.41% | 9.62% | 1.98% | 32.81% | -2.43% | 18.14% | -11.06% | 8.85% |
XBAL.TO iShares Core Balanced ETF Portfolio | 8.69% | 11.90% | 15.80% | 13.05% | -11.16% | 10.16% | 10.73% | 15.34% | -2.73% | 5.55% |
Correlation
The correlation between XCV.TO and XBAL.TO is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.49 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.59 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.58 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.50 |
Correlation (All Time) Calculated using the full available price history since Jun 21, 2007 | 0.45 |
The correlation between XCV.TO and XBAL.TO shifts across timeframes, from 0.45 (all time) to 0.59 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
XCV.TO vs. XBAL.TO — Risk / Return Rank
XCV.TO
XBAL.TO
XCV.TO vs. XBAL.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Canadian Value Index ETF (XCV.TO) and iShares Core Balanced ETF Portfolio (XBAL.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.
| XCV.TO | XBAL.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.69 | ||
| Sortino ratioReturn per unit of downside risk | +4.73 | ||
| Omega ratioGain probability vs. loss probability | 2.11 | 1.33 | +0.79 |
| Calmar ratioReturn relative to maximum drawdown | 13.00 | 2.67 | +10.32 |
| Martin ratioReturn relative to average drawdown | 48.88 | 10.53 | +38.35 |
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Drawdowns
XCV.TO vs. XBAL.TO - Drawdown Comparison
The maximum XCV.TO drawdown since its inception was -52.45%, which is greater than XBAL.TO's maximum drawdown of -28.55%. Use the drawdown chart below to compare losses from any high point for XCV.TO and XBAL.TO.
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Drawdown Indicators
| XCV.TO | XBAL.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.45% | -28.55% | -23.90% |
Max Drawdown (1Y)Largest decline over 1 year | -3.84% | -6.06% | +2.22% |
Max Drawdown (3Y)Largest decline over 3 years | -9.71% | -9.34% | -0.37% |
Max Drawdown (5Y)Largest decline over 5 years | -18.06% | -17.10% | -0.96% |
Max Drawdown (10Y)Largest decline over 10 years | -41.18% | -20.93% | -20.25% |
Current DrawdownCurrent decline from peak | 0.00% | -2.22% | +2.22% |
Average DrawdownAverage peak-to-trough decline | -6.58% | -3.35% | -3.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.02% | 1.54% | -0.52% |
Volatility
XCV.TO vs. XBAL.TO - Volatility Comparison
The current volatility for iShares Canadian Value Index ETF (XCV.TO) is 1.96%, while iShares Core Balanced ETF Portfolio (XBAL.TO) has a volatility of 3.44%. This indicates that XCV.TO experiences smaller price fluctuations and is considered to be less risky than XBAL.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XCV.TO | XBAL.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.96% | 3.44% | -1.48% |
Volatility (6M)Calculated over the trailing 6-month period | 6.91% | 7.87% | -0.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.17% | 9.22% | -0.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.79% | 8.96% | +3.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.50% | 9.80% | +5.70% |
XCV.TO vs. XBAL.TO - Expense Ratio Comparison
XCV.TO has a 0.55% expense ratio, which is higher than XBAL.TO's 0.20% expense ratio.
Dividends
XCV.TO vs. XBAL.TO - Dividend Comparison
XCV.TO's dividend yield for the trailing twelve months is around 2.19%, which matches XBAL.TO's 2.21% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
XBAL.TO iShares Core Balanced ETF Portfolio | 2.21% | 2.27% | 2.72% | 2.43% | 2.12% | 1.78% | 2.04% | 2.31% | 3.47% | 3.00% | 3.72% | 3.38% |
XCV.TO iShares Canadian Value Index ETF | 2.19% | 2.78% | 3.84% | 4.00% | 3.28% | 2.18% | 3.46% | 3.16% | 3.23% | 2.49% | 2.57% | 3.26% |
Frequently Asked Questions
XCV.TO and XBAL.TO have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XBAL.TO is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XBAL.TO is cheaper with a 0.20% expense ratio, compared with 0.55% for XCV.TO.
XCV.TO is categorized as Canada Equities, while XBAL.TO is Diversified Portfolio. Their fees differ too: 0.55% for XCV.TO and 0.20% for XBAL.TO.
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