XUS-U.TO vs. XBAL.TO
XUS-U.TO (iShares Core S&P 500 Index ETF) and XBAL.TO (iShares Core Balanced ETF Portfolio) are both exchange-traded funds - XUS-U.TO is a S&P 500 fund tracking the S&P 500 Index, while XBAL.TO is a Diversified Portfolio fund actively managed by iShares. XUS-U.TO is passively managed, while XBAL.TO is actively managed. Over the past 5 years, XUS-U.TO returned 12.68%/yr vs 4.95%/yr for XBAL.TO. A 0.62 correlation means they provide meaningful diversification when combined. XUS-U.TO charges 0.09%/yr vs 0.20%/yr for XBAL.TO.
Performance
XUS-U.TO vs. XBAL.TO - Performance Comparison
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Different Trading Currencies
XUS-U.TO is traded in USD, while XBAL.TO is traded in CAD. To make them comparable, the XBAL.TO values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, XUS-U.TO achieves a 7.31% return, which is significantly higher than XBAL.TO's 4.34% return.
XUS-U.TO
- 1D
- -0.22%
- 1M
- -2.32%
- YTD
- 7.31%
- 6M
- 6.55%
- 1Y
- 21.86%
- 3Y*
- 20.39%
- 5Y*
- 12.68%
- 10Y*
- —
XBAL.TO
- 1D
- -0.33%
- 1M
- -2.60%
- YTD
- 4.34%
- 6M
- 2.41%
- 1Y
- 12.65%
- 3Y*
- 11.90%
- 5Y*
- 4.95%
- 10Y*
- 6.72%
XUS-U.TO vs. XBAL.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
XUS-U.TO iShares Core S&P 500 Index ETF | 7.31% | 18.07% | 24.74% | 26.55% | -18.73% | 27.72% | 18.39% | 8.13% |
XBAL.TO iShares Core Balanced ETF Portfolio | 4.34% | 17.26% | 6.76% | 15.80% | -16.45% | 10.21% | 13.42% | 5.43% |
Correlation
The correlation between XUS-U.TO and XBAL.TO is 0.68, 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 | 0.68 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.68 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.66 |
Correlation (All Time) Calculated using the full available price history since Oct 15, 2019 | 0.62 |
The correlation between XUS-U.TO and XBAL.TO has been stable across timeframes, ranging from 0.62 to 0.68 - a consistent structural relationship.
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Return for Risk
XUS-U.TO vs. XBAL.TO — Risk / Return Rank
XUS-U.TO
XBAL.TO
XUS-U.TO vs. XBAL.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core S&P 500 Index ETF (XUS-U.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.
| XUS-U.TO | XBAL.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.51 | ||
| Sortino ratioReturn per unit of downside risk | +0.68 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.23 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 2.36 | 1.82 | +0.54 |
| Martin ratioReturn relative to average drawdown | 10.79 | 7.42 | +3.37 |
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Drawdowns
XUS-U.TO vs. XBAL.TO - Drawdown Comparison
The maximum XUS-U.TO drawdown since its inception was -33.55%, smaller than the maximum XBAL.TO drawdown of -47.75%. Use the drawdown chart below to compare losses from any high point for XUS-U.TO and XBAL.TO.
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Drawdown Indicators
| XUS-U.TO | XBAL.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.55% | -47.75% | +14.20% |
Max Drawdown (1Y)Largest decline over 1 year | -9.30% | -6.98% | -2.32% |
Max Drawdown (3Y)Largest decline over 3 years | -18.65% | -9.87% | -8.78% |
Max Drawdown (5Y)Largest decline over 5 years | -24.96% | -24.50% | -0.46% |
Max Drawdown (10Y)Largest decline over 10 years | — | -27.62% | — |
Current DrawdownCurrent decline from peak | -3.32% | -3.07% | -0.25% |
Average DrawdownAverage peak-to-trough decline | -5.41% | -7.45% | +2.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.03% | 1.71% | +0.32% |
Volatility
XUS-U.TO vs. XBAL.TO - Volatility Comparison
iShares Core S&P 500 Index ETF (XUS-U.TO) has a higher volatility of 4.44% compared to iShares Core Balanced ETF Portfolio (XBAL.TO) at 3.92%. This indicates that XUS-U.TO's price experiences larger fluctuations and is considered to be riskier 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
| XUS-U.TO | XBAL.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.44% | 3.92% | +0.52% |
Volatility (6M)Calculated over the trailing 6-month period | 10.02% | 8.55% | +1.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.57% | 10.23% | +2.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.78% | 10.92% | +5.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.17% | 11.83% | +7.34% |
XUS-U.TO vs. XBAL.TO - Expense Ratio Comparison
XUS-U.TO has a 0.09% expense ratio, which is lower than XBAL.TO's 0.20% 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
XUS-U.TO vs. XBAL.TO - Dividend Comparison
XUS-U.TO's dividend yield for the trailing twelve months is around 1.16%, less than XBAL.TO's 2.10% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
XBAL.TO iShares Core Balanced ETF Portfolio | 2.10% | 2.27% | 2.72% | 2.43% | 2.12% | 1.78% | 2.04% | 2.31% | 3.47% | 3.00% | 3.72% | 3.38% |
XUS-U.TO iShares Core S&P 500 Index ETF | 1.16% | 1.25% | 1.04% | 1.19% | 1.38% | 0.89% | 1.20% | 0.05% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
XUS-U.TO and XBAL.TO have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XUS-U.TO is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XUS-U.TO is cheaper with a 0.09% expense ratio, compared with 0.20% for XBAL.TO.
XUS-U.TO is categorized as S&P 500, while XBAL.TO is Diversified Portfolio. Their fees differ too: 0.09% for XUS-U.TO and 0.20% for XBAL.TO.
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