Best All-in-One ETFs Canada
| ETF | Provider | Stocks/Bonds | MER | Best For |
|---|---|---|---|---|
| XEQT | iShares | 100/0 | 0.19% | Maximum growth |
| VEQT | Vanguard | 100/0 | 0.22% | Maximum growth |
| XGRO | iShares | 80/20 | 0.19% | Growth with some stability |
| VGRO | Vanguard | 80/20 | 0.22% | Growth with some stability |
| XBAL | iShares | 60/40 | 0.18% | Balanced |
| VBAL | Vanguard | 60/40 | 0.22% | Balanced |
| XCNS | iShares | 40/60 | 0.18% | Conservative |
| VCNS | Vanguard | 40/60 | 0.22% | Conservative |
| XINC | iShares | 20/80 | 0.18% | Very conservative |
| VCIP | Vanguard | 20/80 | 0.22% | Very conservative |
| ZBAL | BMO | 60/40 | 0.18% | BMO alternative |
| ZGRO | BMO | 80/20 | 0.18% | BMO alternative |
| ZEQT | BMO | 100/0 | 0.18% | BMO alternative |
BMO cut its management fee on ZEQT, ZGRO and ZBAL from 0.18% to 0.15% (effective after the close on June 6, 2025), Vanguard cut its fee across this lineup from 0.22% to 0.17% (effective November 18, 2025), and iShares cut its from 0.18% to 0.17% (effective December 18, 2025). Published MERs come from each fund’s financial statements and follow fee changes with a lag.
How to Choose Your All-in-One ETF
If you are still deciding between a single-fund solution and a more traditional passive portfolio, compare this guide with our Canadian ETF guide.
The two tables below show common rules of thumb for matching a stock/bond mix to a time horizon or an age. They are starting points for thinking about risk, not recommendations: your own mix depends on when you need the money and how you would react to a large drop.
By Risk Tolerance and Time Horizon
| Time Horizon | Risk Tolerance | Funds with that mix | Allocation |
|---|---|---|---|
| 20+ years | High | XEQT / VEQT | 100% stocks |
| 15-20 years | Medium-High | XGRO / VGRO | 80/20 |
| 10-15 years | Medium | XBAL / VBAL | 60/40 |
| 5-10 years | Medium-Low | XCNS / VCNS | 40/60 |
| Under 5 years | Low | XINC / VCIP | 20/80 |
By Age (Rule of Thumb)
| Age | Mix often used | ETF |
|---|---|---|
| 20-35 | 100% equity | XEQT or VEQT |
| 35-45 | 80/20 | XGRO or VGRO |
| 45-55 | 60/40 | XBAL or VBAL |
| 55-65 | 40/60 | XCNS or VCNS |
| 65+ | 20/80 | XINC or VCIP |
iShares vs Vanguard vs BMO
The regional weights below are for each provider’s all-equity portfolio, from its fact sheet as of August 31, 2026.
| Feature | iShares (XEQT) | Vanguard (VEQT) | BMO (ZEQT) |
|---|---|---|---|
| MER of the core portfolios | 0.18%-0.19% | 0.22% | 0.18% |
| US stocks | 45.03% | 44.77% | 48.91% |
| Canadian stocks | 25.64% | 30.58% | 25.56% |
| International developed stocks | 24.41% | 17.63% | 16.58% |
| Emerging markets stocks | 4.78% | 7.00% | 8.97% |
Verdict: Published MERs are 0.18% for BMO’s Z-series, 0.18% to 0.19% for iShares’ core portfolios and 0.22% for Vanguard’s. The gaps are a few hundredths of a percentage point, so the stock/bond mix usually makes a bigger difference to your results than the provider does.
Use the MER calculator if you want to see how the fee differences play out over time.
Past Returns
Each provider publishes a fund’s actual returns, including the growth of $10,000 since inception, on its fact sheet. Returns vary a lot from year to year: XEQT’s calendar-year NAV return was -10.93% in 2022 and 24.67% in 2024. Portfolios with more bonds usually swing less in both directions. For XEQT’s full return history next to VEQT’s, see XEQT vs VEQT.
Past performance does not guarantee future results.
What’s Inside These ETFs
XEQT / VEQT (100% Equity)
| Region | XEQT Weight | VEQT Weight |
|---|---|---|
| US | 45.03% | 44.77% |
| Canada | 25.64% | 30.58% |
| International developed | 24.41% | 17.63% |
| Emerging markets | 4.78% | 7.00% |
Weights of the underlying ETFs as of August 31, 2026 (fund fact sheets). Because the underlying index ETFs weight companies by market value, the largest look-through positions are the biggest US and Canadian companies.
XGRO / VGRO (80/20)
| Component | XGRO Weight | VGRO Weight |
|---|---|---|
| US stocks | 36.20% | 36.5% |
| Canadian stocks | 20.06% | 24.7% |
| International developed stocks | 19.98% | 14.8% |
| Emerging markets stocks | 4.25% | 5.7% |
| Canadian bonds | 15.46% | 11.2% |
| US bonds | 3.72% | 3.5% |
| Global ex-US bonds | None | 3.6% |
Weights of the underlying ETFs as of August 31, 2026 (fund fact sheets). VGRO’s US and global bond ETFs are hedged to the Canadian dollar.
All-in-One ETF vs Alternatives
vs Mutual Funds
| Feature | All-in-One ETF | Actively managed mutual fund |
|---|---|---|
| MER | 0.18%-0.22% | Usually several times higher; most series include advisor compensation |
| Cost on $100K | $180-$220/year | Check the fund’s ETF or Fund Facts document |
| Diversification | Global | Varies |
| Rebalancing | Automatic | Automatic for balanced funds |
| Purchase | Through broker | Through bank/advisor |
How a mutual fund’s MER is built up (management fee, trailing commission and series) is covered in how mutual funds work in Canada.
vs Robo-Advisor
| Feature | All-in-One ETF | Robo-Advisor |
|---|---|---|
| Fees | MER only (0.18%-0.22%) | Account fee of 0.20% to 0.50% (Questwealth and Wealthsimple’s managed accounts), plus the MERs of the ETFs it holds |
| Fees on $100K | $180-$220/year | $200 (Questwealth) to $400 (Wealthsimple) a year in account fees, plus fund MERs |
| Hands-on | Buy yourself | Fully managed |
| Tax-loss harvesting | No | Varies by provider |
| Rebalancing | Automatic | Automatic |
| Best for | DIY investors | Hands-off investors |
vs Building Your Own Portfolio
| Feature | All-in-One ETF | DIY Multi-ETF |
|---|---|---|
| Simplicity | ✅ One fund | 3-5+ funds to manage |
| Rebalancing | Automatic | Manual (quarterly/annually) |
| MER | 0.18%-0.22% | Can be lower (for example, VCN at 0.05% and XUS at 0.09%) |
| Customization | None | Full control |
| Behavioural benefit | Can’t tinker | Tempting to over-trade |
How to Buy an All-in-One ETF
If you need the brokerage steps, follow our guide on how to buy ETFs in Canada.
| Step | Action |
|---|---|
| 1 | Open a brokerage account (Wealthsimple, Questrade) |
| 2 | Choose your account type (TFSA, RRSP, FHSA) |
| 3 | Deposit money |
| 4 | Search for your chosen ETF (e.g., XEQT) |
| 5 | Buy units |
| 6 | Set up automatic recurring purchases |
| 7 | Leave it alone and let compounding work |
Commission to buy: $0 on Wealthsimple, $0 on Questrade
Common Mistakes
| Mistake | Solution |
|---|---|
| Holding multiple all-in-one ETFs | They overlap heavily, so one fund usually does the job |
| Switching between XEQT and VEQT | The differences are small; switching mostly adds trading costs |
| Adding individual stocks alongside | Defeats the purpose of simplicity |
| Choosing a mix without regard to your time horizon | Match the stock/bond mix to when you need the money |
| Checking daily | These are long-term holdings; short-term swings are expected |
Related Resources
Sources
The figures and rules on this page come from these sources, last checked against them on September 25, 2026. How we check facts.
- BlackRock iShares: iShares Core Equity ETF Portfolio | XEQT
- BlackRock iShares: iShares Core Growth ETF Portfolio
- BlackRock iShares: iShares Core Balanced ETF Portfolio
- BlackRock iShares: iShares Core Conservative Balanced ETF Portfolio | XCNS
- BlackRock iShares: iShares Core Income Balanced ETF Portfolio | XINC
- BlackRock iShares: iShares Core S&P 500 Index ETF | XUS | CAD
- BMO Global Asset Management: ZBAL - Factsheet
- BMO Global Asset Management: ZGRO - Factsheet
- BMO Global Asset Management: ZEQT - Factsheet
- Vanguard: Factsheet | August 31, 2026
- Vanguard: All-Equity ETF Portfolio | Vanguard Canada
- Vanguard: Factsheet | August 31, 2026
- Vanguard: Growth ETF Portfolio | Vanguard Canada
- Vanguard: Factsheet | August 31, 2026
- Vanguard: Balanced ETF Portfolio | Vanguard Canada
- Vanguard: Conservative ETF Portfolio | Vanguard Canada
- Vanguard: Conservative Income ETF Portfolio | Vanguard Canada
- Vanguard: Factsheet | August 31, 2026
- Vanguard: FTSE Canada All Cap Index ETF | Vanguard Canada