Investing · ETF deep dive
XBAL iShares Core Balanced ETF Portfolio
The 60/40 with a 2007 birth certificate and the lowest published MER of the big-three balanced funds (0.19%).
Best for: Balanced investors who want the classic mix with iShares construction
Pros
- Lowest published MER among big-three 60/40s (0.19%)
- 1.75% quarterly distribution yield
- Real 2008-and-2022 history under the ticker
Cons
- The same growth sacrifice every 60/40 makes
- Hedging policy on US bond sleeves is derived from holdings, not plainly stated
What's inside XBAL
| Underlying fund | Weight |
|---|---|
| iShares Core S&P Total U.S. Stock Market ETF (US-listed)ITOT | 28.2% |
| iShares Core Canadian Universe Bond Index ETFXBB | 24.1% |
| iShares Core MSCI EAFE IMI Index ETFXEF | 15.7% |
| iShares Core S&P/TSX Capped Composite Index ETFXIC | 15.5% |
| iShares Core Canadian Short Term Corporate Bond Index ETFXSH | 5.8% |
| iShares Broad USD Investment Grade Corporate Bond ETF (US-listed)USIG | 3.7% |
| iShares U.S. Treasury Bond ETF (US-listed)GOVT | 3.7% |
| iShares Core MSCI Emerging Markets IMI Index ETFXEC | 3.0% |
Canada 43.1% · US 35.8% · Japan 4.0% (total-portfolio look-through incl. bonds) (Provider look-through including bonds — the heavy Canada reading is mostly the bond sleeve) · holdings as of June 9, 2026
The deep dive
XBAL is VBAL’s mirror with iShares construction: 60% world equity (lighter Canada), 40% bonds split Canadian/US, all for a published 0.19% — the sharpest sticker among the big three at this rung even before the fee cuts flush through.
A reading note for the geography line: provider look-through tables include bonds, so XBAL “reads” 43% Canada — that’s mostly XBB, not an equity bet. Its equity sleeve carries the familiar iShares ~25%-Canada flavour. Point-in-time weights drift; the targets are what govern.
Same family, different dose
The iShares (BlackRock Canada) ladder lets you change risk level without changing philosophy:
- XEQT — 100/0 · 0.20% MER · quarterly distributions
- XGRO — 80/20 · 0.20% MER · quarterly distributions
- XCNS — 40/60 · 0.19% MER · quarterly distributions
- XINC — 20/80 · 0.19% MER · quarterly distributions
Frequently asked questions
What does XBAL hold?
XBAL holds 60/40 — led by iShares Core S&P Total U.S. Stock Market ETF (US-listed) (ITOT) at 28.2%, iShares Core Canadian Universe Bond Index ETF (XBB) at 24.1%, iShares Core MSCI EAFE IMI Index ETF (XEF) at 15.7% (as of June 9, 2026). Looking through to the securities level, that's 21,970 underlying holdings in one ticker. Geographic mix: Canada 43.1% · US 35.8% · Japan 4.0% (total-portfolio look-through incl. bonds) (provider look-through including bonds — the heavy canada reading is mostly the bond sleeve). Weights drift between rebalances — rebalanced “as needed” to maintain target weights.
What does XBAL cost?
Currently 0.17% management fee; 0.19% published MER (product pages as of June 9, 2026). 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 XBAL or one of its siblings?
The iShares (BlackRock Canada) ladder runs XEQT · XGRO · XBAL · XCNS · XINC — same construction, different equity/bond dose. XBAL sits at 60/40. 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
A first-rate 60/40. The choice against VBAL and ZBAL is the family decision in miniature — tilt, pennies, and brand.
This page is for educational purposes only and is not investment advice. Fund facts were verified at iShares (BlackRock Canada)'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 (product pages as of June 9, 2026). We deliberately do not compare or project returns. Read the fund facts document before buying. See our methodology.