XINC.TO vs. ZGRO.TO
XINC.TO (iShares Core Income Balanced ETF Portfolio) and ZGRO.TO (BMO Growth ETF) are both exchange-traded funds - XINC.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, XINC.TO returned 2.85%/yr vs 15.20%/yr for ZGRO.TO. At a 0.42 correlation, their price movements are largely independent. XINC.TO charges 0.20%/yr vs 0.18%/yr for ZGRO.TO.
Performance
XINC.TO vs. ZGRO.TO - Performance Comparison
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Returns By Period
In the year-to-date period, XINC.TO achieves a 3.54% return, which is significantly lower than ZGRO.TO's 11.48% return.
XINC.TO
- 1D
- 0.28%
- 1M
- -0.40%
- 6M
- 2.33%
- YTD
- 3.54%
- 1Y
- 8.43%
- 3Y*
- 7.61%
- 5Y*
- 2.85%
- 10Y*
- —
ZGRO.TO
- 1D
- 0.10%
- 1M
- -1.94%
- 6M
- 8.38%
- YTD
- 11.48%
- 1Y
- 23.24%
- 3Y*
- 21.31%
- 5Y*
- 15.20%
- 10Y*
- —
XINC.TO vs. ZGRO.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
XINC.TO iShares Core Income Balanced ETF Portfolio | 3.54% | 6.71% | 7.75% | 8.51% | -11.25% | 1.29% | 9.19% | 1.23% |
ZGRO.TO BMO Growth ETF | 11.48% | 18.65% | 25.70% | 20.36% | -5.92% | 20.50% | 17.11% | 9.80% |
Correlation
The correlation between XINC.TO and ZGRO.TO is 0.58, 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 | 0.58 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.48 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.43 |
Correlation (All Time) Calculated using the full available price history since Aug 7, 2019 | 0.42 |
The correlation between XINC.TO and ZGRO.TO shifts across timeframes, from 0.42 (all time) to 0.58 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
XINC.TO vs. ZGRO.TO — Risk / Return Rank
XINC.TO
ZGRO.TO
XINC.TO vs. ZGRO.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core Income Balanced ETF Portfolio (XINC.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.
| XINC.TO | ZGRO.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.24 | ||
| Sortino ratioReturn per unit of downside risk | -0.27 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.35 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.32 | 3.40 | -1.08 |
| Martin ratioReturn relative to average drawdown | 8.71 | 12.98 | -4.27 |
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Drawdowns
XINC.TO vs. ZGRO.TO - Drawdown Comparison
The maximum XINC.TO drawdown since its inception was -15.63%, smaller than the maximum ZGRO.TO drawdown of -24.67%. Use the drawdown chart below to compare losses from any high point for XINC.TO and ZGRO.TO.
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Drawdown Indicators
| XINC.TO | ZGRO.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.63% | -24.67% | +9.04% |
Max Drawdown (1Y)Largest decline over 1 year | -3.65% | -6.87% | +3.22% |
Max Drawdown (3Y)Largest decline over 3 years | -4.35% | -11.60% | +7.25% |
Max Drawdown (5Y)Largest decline over 5 years | -15.63% | -16.21% | +0.58% |
Current DrawdownCurrent decline from peak | -0.65% | -1.94% | +1.29% |
Average DrawdownAverage peak-to-trough decline | -3.83% | -2.49% | -1.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.97% | 1.80% | -0.83% |
Volatility
XINC.TO vs. ZGRO.TO - Volatility Comparison
The current volatility for iShares Core Income Balanced ETF Portfolio (XINC.TO) is 1.37%, while BMO Growth ETF (ZGRO.TO) has a volatility of 3.69%. This indicates that XINC.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
| XINC.TO | ZGRO.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.37% | 3.69% | -2.32% |
Volatility (6M)Calculated over the trailing 6-month period | 4.33% | 10.20% | -5.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.99% | 12.03% | -7.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.83% | 11.23% | -4.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.43% | 13.19% | -5.76% |
XINC.TO vs. ZGRO.TO - Expense Ratio Comparison
XINC.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
XINC.TO vs. ZGRO.TO - Dividend Comparison
XINC.TO's dividend yield for the trailing twelve months is around 3.30%, more than ZGRO.TO's 1.43% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
XINC.TO iShares Core Income Balanced ETF Portfolio | 3.30% | 3.16% | 2.81% | 2.87% | 2.54% | 2.03% | 2.43% | 0.94% |
ZGRO.TO BMO Growth ETF | 1.43% | 3.38% | 5.76% | 6.81% | 7.63% | 6.65% | 7.47% | 6.95% |
Frequently Asked Questions
XINC.TO and ZGRO.TO have a correlation of 0.58, 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 XINC.TO.
XINC.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 XINC.TO and 0.18% for ZGRO.TO.
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