XUT.TO vs. XBAL.TO
XUT.TO (iShares S&P/TSX Capped Utilities Index ETF) and XBAL.TO (iShares Core Balanced ETF Portfolio) are both exchange-traded funds - XUT.TO is a Utilities Equities fund tracking the Morningstar Gbl GR CAD, while XBAL.TO is a Diversified Portfolio fund actively managed by iShares. XUT.TO is passively managed, while XBAL.TO is actively managed. Over the past 10 years, XUT.TO returned 8.96%/yr vs 7.66%/yr for XBAL.TO. At a 0.40 correlation, their price movements are largely independent. XUT.TO charges 0.61%/yr vs 0.20%/yr for XBAL.TO.
Performance
XUT.TO vs. XBAL.TO - Performance Comparison
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Returns By Period
In the year-to-date period, XUT.TO achieves a 16.33% return, which is significantly higher than XBAL.TO's 7.90% return. Over the past 10 years, XUT.TO has outperformed XBAL.TO with an annualized return of 8.96%, while XBAL.TO has yielded a comparatively lower 7.66% annualized return.
XUT.TO
- 1D
- 0.05%
- 1M
- 4.08%
- YTD
- 16.33%
- 6M
- 13.38%
- 1Y
- 21.77%
- 3Y*
- 12.14%
- 5Y*
- 6.77%
- 10Y*
- 8.96%
XBAL.TO
- 1D
- 0.53%
- 1M
- 2.87%
- YTD
- 7.90%
- 6M
- 6.86%
- 1Y
- 18.03%
- 3Y*
- 14.22%
- 5Y*
- 8.02%
- 10Y*
- 7.66%
XUT.TO vs. XBAL.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XUT.TO iShares S&P/TSX Capped Utilities Index ETF | 16.33% | 14.74% | 13.09% | -0.45% | -11.02% | 8.92% | 14.74% | 36.63% | -8.30% | 10.16% |
XBAL.TO iShares Core Balanced ETF Portfolio | 7.90% | 11.90% | 15.80% | 13.05% | -11.16% | 10.16% | 10.73% | 15.34% | -2.73% | 5.55% |
Correlation
The correlation between XUT.TO and XBAL.TO is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.15 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.41 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.40 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.40 |
Correlation (All Time) Calculated using the full available price history since Apr 18, 2011 | 0.40 |
Over the past year, the correlation between XUT.TO and XBAL.TO has dropped to 0.15 - well below their long-term average of 0.40, suggesting their price drivers have been diverging.
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Return for Risk
XUT.TO vs. XBAL.TO — Risk / Return Rank
XUT.TO
XBAL.TO
XUT.TO vs. XBAL.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares S&P/TSX Capped Utilities Index ETF (XUT.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.
| XUT.TO | XBAL.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.51 | ||
| Sortino ratioReturn per unit of downside risk | +0.45 | ||
| Omega ratioGain probability vs. loss probability | 1.49 | 1.36 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 2.83 | 2.84 | -0.01 |
| Martin ratioReturn relative to average drawdown | 8.04 | 11.82 | -3.78 |
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Drawdowns
XUT.TO vs. XBAL.TO - Drawdown Comparison
The maximum XUT.TO drawdown since its inception was -37.65%, 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 XUT.TO and XBAL.TO.
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Drawdown Indicators
| XUT.TO | XBAL.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.65% | -28.55% | -9.10% |
Max Drawdown (1Y)Largest decline over 1 year | -7.64% | -6.06% | -1.58% |
Max Drawdown (3Y)Largest decline over 3 years | -17.51% | -9.34% | -8.17% |
Max Drawdown (5Y)Largest decline over 5 years | -28.54% | -17.10% | -11.44% |
Max Drawdown (10Y)Largest decline over 10 years | -37.65% | -20.93% | -16.72% |
Current DrawdownCurrent decline from peak | 0.00% | -0.36% | +0.36% |
Average DrawdownAverage peak-to-trough decline | -5.81% | -3.35% | -2.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.69% | 1.46% | +1.23% |
Volatility
XUT.TO vs. XBAL.TO - Volatility Comparison
The current volatility for iShares S&P/TSX Capped Utilities Index ETF (XUT.TO) is 2.56%, while iShares Core Balanced ETF Portfolio (XBAL.TO) has a volatility of 3.49%. This indicates that XUT.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
| XUT.TO | XBAL.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.56% | 3.49% | -0.93% |
Volatility (6M)Calculated over the trailing 6-month period | 7.57% | 7.46% | +0.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.76% | 8.76% | 0.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.77% | 8.84% | +3.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.17% | 9.78% | +6.39% |
XUT.TO vs. XBAL.TO - Expense Ratio Comparison
XUT.TO has a 0.61% expense ratio, which is higher than XBAL.TO's 0.20% expense ratio.
Dividends
XUT.TO vs. XBAL.TO - Dividend Comparison
XUT.TO's dividend yield for the trailing twelve months is around 3.25%, more than XBAL.TO's 2.11% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
XBAL.TO iShares Core Balanced ETF Portfolio | 2.11% | 2.27% | 2.72% | 2.43% | 2.12% | 1.78% | 2.04% | 2.31% | 3.47% | 3.00% | 3.72% | 3.38% |
XUT.TO iShares S&P/TSX Capped Utilities Index ETF | 3.25% | 3.91% | 4.00% | 3.90% | 3.80% | 3.04% | 4.51% | 3.57% | 4.52% | 3.57% | 3.74% | 4.05% |
Frequently Asked Questions
XUT.TO and XBAL.TO have a correlation of 0.15, 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 0.61% for XUT.TO.
XUT.TO is categorized as Utilities Equities, while XBAL.TO is Diversified Portfolio. Their fees differ too: 0.61% for XUT.TO and 0.20% for XBAL.TO.
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