Investing · ETF deep dive
XGRO iShares Core Growth ETF Portfolio
The 80/20 with the longest track record in the category — a 2007-vintage fund rebuilt into a modern all-in-one.
Best for: Accumulators who want the standard growth mix with iShares’ lighter home tilt
Pros
- Inception 2007 — it has actually lived through 2008, something no rival sibling can claim
- 21,970 underlying holdings across eight sleeves
- 0.20% published MER, quarterly distributions (1.24%)
Cons
- US-listed bond sleeves (GOVT/USIG) hedge via forwards — policy not plainly stated
- Slightly busier structure than Vanguard’s equivalent
What's inside XGRO
| Underlying fund | Weight |
|---|---|
| iShares Core S&P Total U.S. Stock Market ETF (US-listed)ITOT | 36.3% |
| iShares Core S&P/TSX Capped Composite Index ETFXIC | 19.9% |
| iShares Core MSCI EAFE IMI Index ETFXEF | 19.8% |
| iShares Core Canadian Universe Bond Index ETFXBB | 13.1% |
| iShares Core MSCI Emerging Markets IMI Index ETFXEC | 3.8% |
| iShares Core Canadian Short Term Corporate Bond Index ETFXSH | 3.1% |
| iShares Broad USD Investment Grade Corporate Bond ETF (US-listed)USIG | 2.0% |
| iShares U.S. Treasury Bond ETF (US-listed)GOVT | 1.9% |
US 40.3% · Canada 34.1% · Japan 5.0% (total-portfolio look-through incl. bonds) (Provider look-through including the bond sleeve, June 9, 2026) · holdings as of June 9, 2026
The deep dive
XGRO (and XBAL) carry a secret: they date to June 2007 — old balanced products BlackRock rebuilt into modern asset-allocation ETFs in 2019. The vintage is mostly trivia, but it means real bear-market history under the ticker, 2008 included.
The bond block is distinctive: Canadian bonds via XBB and XSH, but the foreign sleeve uses US-listed GOVT and USIG, with the holdings file showing a stack of USD/CAD forwards alongside — consistent with currency hedging of the US bonds, though iShares doesn’t state the policy as plainly as Vanguard does. Functionally: your 20% behaves like CAD bonds, which is what you want from it.
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
- XBAL — 60/40 · 0.19% MER · quarterly distributions
- XCNS — 40/60 · 0.19% MER · quarterly distributions
- XINC — 20/80 · 0.19% MER · quarterly distributions
Frequently asked questions
What does XGRO hold?
XGRO holds 80/20 — led by iShares Core S&P Total U.S. Stock Market ETF (US-listed) (ITOT) at 36.3%, iShares Core S&P/TSX Capped Composite Index ETF (XIC) at 19.9%, iShares Core MSCI EAFE IMI Index ETF (XEF) at 19.8% (as of June 9, 2026). Looking through to the securities level, that's 21,970 underlying holdings in one ticker. Geographic mix: US 40.3% · Canada 34.1% · Japan 5.0% (total-portfolio look-through incl. bonds) (provider look-through including the bond sleeve, june 9, 2026). Weights drift between rebalances — rebalanced “as needed” to maintain target weights.
What does XGRO cost?
Currently 0.17% management fee; 0.20% 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 XGRO or one of its siblings?
The iShares (BlackRock Canada) ladder runs XEQT · XGRO · XBAL · XCNS · XINC — same construction, different equity/bond dose. XGRO sits at 80/20. 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
Interchangeable with VGRO for almost everyone — same job, lighter Canada, longer history. Tilt preference decides.
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.