XTR.TO vs. TBAL.TO
XTR.TO (iShares Diversified Monthly Income ETF) and TBAL.TO (TD Balanced ETF Portfolio) are both exchange-traded funds - XTR.TO is a Diversified Portfolio fund tracking the Morningstar Can Neut Tgt Alloc NR CAD, while TBAL.TO is a Global Allocation fund actively managed by TD. XTR.TO is passively managed, while TBAL.TO is actively managed. Over the past 5 years, XTR.TO returned 5.64%/yr vs 8.61%/yr for TBAL.TO. A 0.55 correlation means they provide meaningful diversification when combined. XTR.TO charges 0.61%/yr vs 0.15%/yr for TBAL.TO.
Performance
XTR.TO vs. TBAL.TO - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with XTR.TO having a 8.29% return and TBAL.TO slightly higher at 8.36%.
XTR.TO
- 1D
- 0.16%
- 1M
- 0.73%
- 6M
- 6.56%
- YTD
- 8.29%
- 1Y
- 10.62%
- 3Y*
- 10.44%
- 5Y*
- 5.64%
- 10Y*
- 5.58%
TBAL.TO
- 1D
- 0.13%
- 1M
- 0.13%
- 6M
- 5.95%
- YTD
- 8.36%
- 1Y
- 18.21%
- 3Y*
- 14.32%
- 5Y*
- 8.61%
- 10Y*
- —
XTR.TO vs. TBAL.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
XTR.TO iShares Diversified Monthly Income ETF | 8.29% | 5.18% | 12.75% | 5.00% | -4.48% | 10.17% | 4.53% |
TBAL.TO TD Balanced ETF Portfolio | 8.36% | 13.83% | 15.32% | 15.85% | -12.63% | 13.07% | 5.05% |
Correlation
The correlation between XTR.TO and TBAL.TO is 0.64, 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 | 0.64 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.62 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.58 |
Correlation (All Time) Calculated using the full available price history since Aug 18, 2020 | 0.55 |
The correlation between XTR.TO and TBAL.TO has been stable across timeframes, ranging from 0.55 to 0.64 - a consistent structural relationship.
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Return for Risk
XTR.TO vs. TBAL.TO — Risk / Return Rank
XTR.TO
TBAL.TO
XTR.TO vs. TBAL.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Diversified Monthly Income ETF (XTR.TO) and TD Balanced ETF Portfolio (TBAL.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.
| XTR.TO | TBAL.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.36 | ||
| Sortino ratioReturn per unit of downside risk | -0.82 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.41 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 2.78 | 3.06 | -0.28 |
| Martin ratioReturn relative to average drawdown | 9.13 | 12.90 | -3.77 |
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Drawdowns
XTR.TO vs. TBAL.TO - Drawdown Comparison
The maximum XTR.TO drawdown since its inception was -51.43%, which is greater than TBAL.TO's maximum drawdown of -17.34%. Use the drawdown chart below to compare losses from any high point for XTR.TO and TBAL.TO.
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Drawdown Indicators
| XTR.TO | TBAL.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.43% | -17.34% | -34.09% |
Max Drawdown (1Y)Largest decline over 1 year | -3.84% | -5.98% | +2.14% |
Max Drawdown (3Y)Largest decline over 3 years | -6.06% | -9.07% | +3.01% |
Max Drawdown (5Y)Largest decline over 5 years | -9.78% | -17.34% | +7.56% |
Max Drawdown (10Y)Largest decline over 10 years | -25.92% | — | — |
Current DrawdownCurrent decline from peak | -0.24% | -1.01% | +0.77% |
Average DrawdownAverage peak-to-trough decline | -5.00% | -3.49% | -1.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.17% | 1.41% | -0.24% |
Volatility
XTR.TO vs. TBAL.TO - Volatility Comparison
The current volatility for iShares Diversified Monthly Income ETF (XTR.TO) is 1.03%, while TD Balanced ETF Portfolio (TBAL.TO) has a volatility of 1.81%. This indicates that XTR.TO experiences smaller price fluctuations and is considered to be less risky than TBAL.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XTR.TO | TBAL.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.03% | 1.81% | -0.78% |
Volatility (6M)Calculated over the trailing 6-month period | 3.82% | 6.86% | -3.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.68% | 8.18% | -2.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.45% | 9.16% | -2.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.37% | 8.97% | -0.60% |
XTR.TO vs. TBAL.TO - Expense Ratio Comparison
XTR.TO has a 0.61% expense ratio, which is higher than TBAL.TO's 0.15% expense ratio.
Dividends
XTR.TO vs. TBAL.TO - Dividend Comparison
XTR.TO's dividend yield for the trailing twelve months is around 3.92%, more than TBAL.TO's 2.26% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TBAL.TO TD Balanced ETF Portfolio | 2.26% | 2.56% | 2.55% | 2.65% | 2.65% | 1.75% | 0.88% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XTR.TO iShares Diversified Monthly Income ETF | 3.92% | 4.22% | 4.27% | 4.61% | 4.62% | 4.21% | 5.56% | 5.38% | 5.75% | 5.24% | 5.30% | 6.81% |
Frequently Asked Questions
XTR.TO and TBAL.TO have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, TBAL.TO is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TBAL.TO is cheaper with a 0.15% expense ratio, compared with 0.61% for XTR.TO.
XTR.TO is categorized as Diversified Portfolio, while TBAL.TO is Global Allocation. They also come from different issuers: iShares and TD. Their fees differ too: 0.61% for XTR.TO and 0.15% for TBAL.TO.
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