Investing · ETF deep dive
TGRO TD Growth ETF Portfolio
The cheapest growth-rung MER in Canada (0.17%) with monthly distributions — hiding in plain sight behind a 90/10 mix nobody else offers.
Best for: Cost-minimizers who like 90/10 — slightly more equity than VGRO without going full VEQT
Pros
- Cheapest published MER in the whole category (0.17%)
- Monthly distributions — rare outside VRIF and Global X
- 90/10 target fills the gap between 80/20 and 100/0
- Four-ETF Solactive-index simplicity
Cons
- No emerging-markets sleeve at all (TPE is developed international)
- Snapshot weights can sit off-target between quarterly rebalances (bond sleeve read 14.9% vs 10%)
- Small fund ($403M) with low profile
What's inside TGRO
| Underlying fund | Weight |
|---|---|
| TD U.S. Equity Index ETFTPU | 40.3% |
| TD Canadian Equity Index ETFTTP | 24.8% |
| TD International Equity Index ETFTPE | 19.9% |
| TD Canadian Aggregate Bond Index ETFTDB | 14.9% |
US 39.1% · Canada 38.1% · EU 11.1% · Japan 5.2% (fund geography, look-through) (TD fund card geography, point-in-time) · holdings as of verification day (TD cards update daily; snapshot read above its 10% bond target)
The deep dive
TD’s 2023 reboot (from the old “One-Click” TOCA series: fees cut from 0.25% to 0.15%, underlyings switched to TD’s own Solactive index ETFs) produced the cheapest asset-allocation ETFs in Canada — and almost nobody noticed. TGRO is the growth rung: four index ETFs, a 90/10 target no big-three rival offers, and monthly distributions.
Two honest quirks: there’s no emerging-markets sleeve — TPE is developed-international only, making this the most EM-free portfolio in the category — and the published holdings snapshot had the bond sleeve at 14.9% against its 10% target, a reminder that point-in-time weights drift between TD’s quarterly rebalances. Note also that TD’s fund cards publish no distribution-yield figure (their “current yield” fields are bond-math characteristics) — so we don’t quote one.
Same family, different dose
The TD Asset Management ladder lets you change risk level without changing philosophy:
- TBAL — 60/40 target · 0.17% MER · monthly distributions
- TCON — 30/70 target · 0.17% MER · monthly distributions
Frequently asked questions
What does TGRO hold?
TGRO holds 90/10 target — led by TD U.S. Equity Index ETF (TPU) at 40.3%, TD Canadian Equity Index ETF (TTP) at 24.8%, TD International Equity Index ETF (TPE) at 19.9% (as of verification day (TD cards update daily; snapshot read above its 10% bond target)). Geographic mix: US 39.1% · Canada 38.1% · EU 11.1% · Japan 5.2% (fund geography, look-through) (td fund card geography, point-in-time). Weights drift between rebalances — quarterly (per the 2023 restructuring).
What does TGRO cost?
Currently 0.15% management fee; 0.17% published MER (fund cards; MERs as at Dec 31, 2025). For context, the asset-allocation category now runs roughly 0.17%–0.25% all-in at the index families after the 2025 fee war — see the full cost table, and what fee gaps compound into with the MER calculator.
Should I pick TGRO or one of its siblings?
The TD Asset Management ladder runs TGRO · TBAL · TCON — same construction, different equity/bond dose. TGRO sits at 90/10 target. The risk level is the decision that matters; pick the rung whose worst year you could actually sit through (the asset-allocation calculator helps), then stay put. Comparing across providers instead? Start with the family-by-family guide.
The bottom line
The best-kept secret in the category for cost-focused buyers who can live without EM. If 90/10 is your number, nothing else even offers it.
This page is for educational purposes only and is not investment advice. Fund facts were verified at TD Asset Management's published fact sheets and product pages on June 10, 2026; holdings and weights are point-in-time and drift between rebalances; published MERs may lag recent fee changes (fund cards; MERs as at Dec 31, 2025). We deliberately do not compare or project returns. Read the fund facts document before buying. See our methodology.