The Best All-in-one ETFs in Canada for March 2025

ByDan Kent Published On:

​
​
My Best ETF for 2025

I like the diversified element of this fund and the lack of certain industries, at a reasonable fee. I think this ETF has significant potential in Canada's market moving forward. Grab my report for yourself for free below:

    We won't send you spam. Unsubscribe at any time.

    ​
    ​Free Report: High Quality Niche ETF

    I like the diversified element of this fund and the lack of certain industries, at a reasonable fee. I think this ETF has significant potential in Canada's market moving forward.

    Get my report below:

      We won't send you spam. Unsubscribe at any time.

      ETF investors: my case study has fundamentally changed how ETF investors look at the markets and their portfolios.

        Key takeaways

        Customization for Risk Tolerance – Ranging from all-equity to conservative balanced options, these ETFs cater to different investor risk preferences.

        All-in-One ETFs Provide Diversified Portfolios – These ETFs simplify investing by offering a balanced mix of equity and fixed income exposure in a single fund.

        Low-Cost and Passive Management – Most of these ETFs have low expense ratios and follow a passive index-based strategy, making them cost-efficient for long-term investors.

        One ETF I like way better than the ones on this list.

        Exchange-traded funds are exploding in popularity recently, and for good reason. They’re flexible, allow instant diversification among a wide variety of assets, and often charge much more attractive fees than traditional mutual funds.

        Among the variety of ETFs available, all-in-one ETFs stand out for their simplicity and convenience, delivering a one-click method to a diverse portfolio for Canadians. Many Canadians have way too much Canadian exposure inside of their portfolios, which isn’t optimal. It can end up leaving us with a poorly balanced portfolio and too exposed to a single economy, especially a cyclical one like Canada.

        All-in-one ETFs are designed to provide a balanced and diversified portfolio within a single investment product. They widen the scope of attention, focusing on entire markets. This is in stark contrast to some ETFs that narrow the field of view to one industry, such as gold ETFs.

        All-in-one ETFs typically consist of a mix of stocks, bonds, and other assets, adjusting the allocation based on an investor’s risk tolerance and investment goals. 

        This approach allows Canadians to effortlessly access a well-rounded investing strategy without the need to manage multiple individual funds. As the demand for efficient, diversified investing solutions grows in Canada, numerous all-in-one ETFs have emerged. This will very likely save a person from the need for robo-advisors, human advisors, or constant rebalancing.

        These funds help people shift from having to review ETFs for specific niches, like Canadian bank ETFs, and instead capture entire markets and gain increased diversification.

        This article will discuss all of the possible all-in-one ETFs you can buy here in Canada from some of the largest ETF providers around. Hopefully, by the end of it, you’ll find one that fits your tolerance for risk and investment goals.

        What are the best all-in-one ETFs in Canada today?

        Types of all-in-one ETFs

        All-in-One ETFs combine several asset classes and strategies into a single fund, providing investors with a diversified and well-balanced portfolio. Let’s go over the various types of all-in-one ETFs available in the Canadian market, focusing on growth, equity, and conservative options.

        Equity ETFs 

        These are designed for investors seeking capital appreciation over a long time horizon. These funds generally have a higher allocation to equities, with a smaller portion in fixed-income securities.

        These products provide exposure to a diverse range of Canadian and global stocks, with minimal allocation to bonds. 

        These funds can include domestic, international, or global equities, allowing investors to diversify across geographic regions and sectors. The All-Equity ETF Portfolio (XEQT) is an example of an equity-focused portfolio, providing investors with a comprehensive mix of Canadian, U.S., and international stocks.

        Balanced ETFs 

        These strike a balance between risk and reward by allocating assets across both equities and fixed-income securities. These funds offer a mix of capital appreciation and income generation, making them suitable for investors with a moderate risk tolerance.

        Conservative ETFs 

        More conservative ETFs focus primarily on capital preservation and income generation, with a more minor emphasis on capital growth. These funds usually have a higher allocation to fixed-income securities, such as bonds, and a lower allocation to equities.

        These portfolios offer diversified exposure to global bonds and equities, with an emphasis on Canadian fixed-income securities.

        Canadian investors have numerous All-in-One ETF options catering to various investment objectives and risk preferences. By selecting the appropriate All-in-One ETF, investors can easily create diversified, well-balanced portfolios tailored to their specific needs.

        Top All-In-One ETFs in Canada

        Low-cost global equity exposure.

        iShares Core Equity ETF Portfolio (XEQT)

        XEQT is a globally diversified ETF investing in a mix of Canadian, U.S., international, and emerging market equities. It is designed for investors seeking long-term capital appreciation with no fixed income component.

        • Global Diversification – Holds stocks from North America, Europe, and emerging markets, reducing country-specific risk.
        • Low Expense Ratio (0.20%) – One of the cheapest all-equity portfolios available in Canada.
        • No Need for Rebalancing – The ETF automatically maintains its asset allocation.
        • Higher Volatility, Higher Reward – Purely equity-focused, meaning greater long-term growth potential but also increased short-term fluctuations.
        • Tax-Efficient Structure – Designed for capital appreciation, making it suitable for registered accounts.
        • Tech Sector Performance – XEQT has significant exposure to the U.S. market, especially tech-heavy indices.
        • Interest Rate Movements – Equity valuations are sensitive to central bank rate decisions.
        • Global Economic Growth – Stronger economic conditions will boost equity returns.
        • Market Volatility – No fixed income component means greater price swings.
        • Currency Risk – Exposure to foreign markets introduces forex fluctuations.

        High equity exposure with global diversification.

        Vanguard All-Equity ETF Portfolio (VEQT)

        VEQT provides 100% equity exposure through a mix of Canadian, U.S., international, and emerging market stocks. It is a one-ticket solution for aggressive investors.

        • Broad Market Coverage – Exposure to more than 13,000 stocks worldwide.
        • Long-Term Growth Focus – Designed for investors with high risk tolerance.
        • No Fixed Income Allocation – Suitable for investors comfortable with volatility.
        • Automatic Rebalancing – The fund maintains its target allocation without manual intervention.
        • Competitive Fee (0.24%) – Slightly higher than XEQT but still cost-efficient.
        • Economic Cycles – Performance is tied to global economic conditions.
        • Corporate Earnings Growth – Higher earnings will drive long-term returns.
        • Emerging Markets Potential – Could add additional growth opportunities.
        • Equity-Only Exposure – No downside protection from bonds.
        • Market Corrections – More vulnerable during economic downturns.

        Newest all-equity balanced ETF option.

        BMO All-Equity ETF (ZEQT)

        ZEQT provides exposure to a diversified global equity portfolio, similar to VEQT and XEQT but with a unique allocation strategy focusing on North American stocks.

        • New Entry in the Market – Designed to compete with VEQT and XEQT.
        • North America Tilt – Higher exposure to Canadian and U.S. stocks.
        • Fully Passive, Low-Cost (0.20%) – Competitive expense ratio.
        • Designed for Growth-Oriented Investors – No bond exposure.
        • Automatic Rebalancing – Maintains allocation without investor intervention.
        • North American Market Strength – U.S. tech and Canadian financials drive growth.
        • Commodity Prices – Higher energy prices may benefit Canadian equities.
        • Higher Volatility – No fixed income means larger price swings.
        • Sector Concentration – Heavy weighting in North American markets.

        60/40 stocks-to-bonds allocation.

        Vanguard Balanced ETF Portfolio (VBAL)

        VBAL is a balanced ETF portfolio investing in a 60% equity and 40% fixed income mix, offering a moderate risk profile.

        • Well-Diversified Portfolio – Exposure to global equities and bonds.
        • Lower Volatility Than Equity-Only Funds – Bonds help reduce drawdowns.
        • Good for Moderate Risk Investors – Ideal for long-term stability.
        • Passive, Low-Cost (0.24%) – Efficient for set-and-forget investing.
        • Rebalancing Built-In – Maintains its 60/40 split automatically.
        • Interest Rates & Inflation – Bonds may struggle in rising rate environments.
        • Stock Market Cycles – Balanced exposure provides downside protection.
        • Lower Long-Term Growth – Bond allocation reduces equity upside.
        • Bond Sensitivity to Rates – Rising interest rates hurt fixed-income returns.

        Another 60/40 balanced option.

        iShares Core Balanced ETF Portfolio (XBAL)

        Similar to VBAL, XBAL provides a 60% equity and 40% fixed income allocation with slight differences in holdings and methodology.

        • Diversified Across Global Markets – Balanced exposure to stocks and bonds.
        • Lower Risk Than 100% Equity ETFs – Suitable for conservative investors.
        • Automatic Portfolio Rebalancing – Keeps allocation in check.
        • Low Cost (0.20%) – Cost-effective passive investing.
        • Interest Rate Decisions – Bonds are sensitive to policy changes.
        • Stock Market Growth – Equities drive portfolio performance.
        • Inflation Impact on Bonds – Fixed income may struggle with high inflation.

        60/40 balanced strategy with a Canadian tilt

        BMO Balanced ETF (ZBAL)

        BMO Balanced ETF (ZBAL) provides a 60% equity / 40% fixed income allocation, offering a middle ground between growth and stability. It is designed for investors who want broad diversification with automatic rebalancing, making it a hands-off, long-term investment option. Compared to other balanced ETFs, ZBAL has a slightly higher Canadian exposure, which may appeal to domestic investors.

        • Diversified Portfolio with Built-In Rebalancing – ZBAL is an all-in-one ETF that automatically maintains a 60% stock / 40% bond mix, saving investors the effort of manually rebalancing their portfolio. This makes it an attractive option for those who prefer a passive investing approach while still maintaining a diversified portfolio.
        • Broad Exposure to Global Markets – The fund holds a mix of Canadian, U.S., international, and emerging market equities, giving investors exposure to a variety of economies. However, it has a higher allocation to Canadian stocks and bonds than its competitors, which may appeal to investors who prefer a home bias.
        • Fixed Income for Stability – With 40% allocated to fixed-income assets, ZBAL offers protection against market downturns. This bond exposure helps to smooth out volatility, making it a suitable choice for investors with a medium risk tolerance.
        • Low-Cost and Tax-Efficient Structure – ZBAL has a management expense ratio (MER) of 0.20%, making it a cost-effective alternative to mutual funds. Additionally, because it is structured as a single ETF, it benefits from tax efficiency compared to holding multiple individual funds.
        • Suitable for Long-Term Investors with Moderate Risk Tolerance – ZBAL is best for investors who want long-term capital appreciation while minimizing extreme market swings. The 60/40 structure provides a balance between growth and preservation, making it ideal for retirement accounts (RRSPs, TFSAs) or general investing.
        • Bond Market Yields and Interest Rate Trends – Since ZBAL holds 40% fixed income, its performance is closely tied to interest rate movements. If rates rise, bond prices may fall, slightly reducing returns. However, if rates fall, bonds can provide a cushion against stock market declines.
        • Canadian Market Performance – ZBAL has a higher allocation to Canadian stocks and bonds compared to similar balanced ETFs like VBAL or XBAL. This means its returns are influenced more by Canada’s economic strength, particularly sectors like banking, energy, and resources.
        • U.S. and Global Equity Trends – With a significant portion of the 60% equity allocation in U.S. and international stocks, ZBAL benefits from growth in global markets. Technology stocks, economic recovery, and corporate earnings trends will impact returns.
        • Inflation and Its Impact on Asset Allocation – Higher inflation can affect both stocks and bonds, making it important to track inflation trends. Stocks typically perform well in moderate inflation, but rising inflation can hurt bonds due to lower purchasing power.
        • Lower Growth Potential Compared to All-Equity ETFs – While ZBAL provides a balanced approach, its 40% bond allocation means it will underperform pure equity ETFs like XEQT, VEQT, or ZEQT in strong bull markets. Investors seeking maximum growth might prefer an all-equity ETF.
        • Sensitivity to Interest Rate Changes – The fixed-income portion of ZBAL can decline in value if interest rates rise, leading to lower returns. This is a key risk in a rising-rate environment.
        • Home Bias Risk – ZBAL has a higher exposure to Canadian assets than some balanced ETFs, which could limit international diversification. If the Canadian economy underperforms, this home bias could negatively impact returns.
        • 4. Stock Market Volatility
        • While the 40% bond allocation provides stability, ZBAL is still 60% invested in stocks, meaning it will experience market fluctuations. Investors must be comfortable with some level of equity market risk.

        Lower-risk, income-focused balanced portfolio

        BMO Conservative ETF (ZCON)

        ZCON is a 40% equity / 60% fixed income ETF, designed for conservative investors who prioritize capital preservation and income over growth. This ETF provides exposure to Canadian, U.S., and international stocks while maintaining a significant allocation to bonds for stability. It is best suited for retirees or investors with a low risk tolerance who want to minimize market volatility.

        • Higher Bond Allocation for Stability – With 60% of assets in fixed income, ZCON is less volatile than traditional balanced ETFs (which usually have a 60/40 mix). This bond-heavy allocation helps reduce downside risk, making it ideal for risk-averse investors.
        • Global Diversification with a Canadian Tilt – ZCON holds a mix of Canadian, U.S., and international equities, but with a slight home bias toward Canadian assets. This diversification spreads risk across different economies and industries.
        • Steady Income from Fixed-Income Holdings – The bond component of ZCON provides a source of income through interest payments, which can be useful for retirees or those seeking steady cash flow.
        • Lower Volatility Compared to Growth-Focused ETFs – Since bonds tend to be less volatile than stocks, ZCON experiences smaller price fluctuations than higher-equity ETFs like ZBAL or ZGRO. This makes it a good choice for investors who prefer less market risk.
        • Ideal for Retirement and Conservative Portfolios – ZCON’s low-risk, income-focused approach makes it a great option for retirees or those approaching retirement who want to preserve capital while earning a steady return.
        • Interest Rate Movements – If interest rates rise, bond prices may decline, slightly affecting returns. If interest rates fall, bond values increase, benefiting ZCON.
        • Inflation and Fixed Income Returns – Inflation erodes purchasing power, potentially reducing real bond returns. ZCON may underperform in high-inflation environments unless interest rates increase accordingly.
        • Equity Market Performance – Although ZCON has a smaller equity component (40%), its stock allocation still benefits from global economic growth.
        • Lower Growth Potential – ZCON is less suited for long-term growth since 60% of the portfolio is in bonds. Investors seeking higher returns may prefer ETFs with more equity exposure, such as ZBAL or ZGRO.
        • Interest Rate Sensitivity – Rising interest rates can negatively impact the bond portion of the portfolio, leading to short-term price declines.
        • Inflation Risk – Inflation can reduce the real returns of fixed-income investments, making them less attractive in high-inflation environments.

        Growth-focused 80/20 balanced portfolio

        BMO Growth ETF (ZGRO)

        ZGRO is an 80% equity / 20% fixed income ETF designed for growth-oriented investors who can handle moderate volatility. It offers global diversification, broad sector exposure, and a small bond allocation for some downside protection. This ETF is best suited for investors with a long-term horizon who want higher capital appreciation without going all-in on equities.

        • Higher Stock Allocation for Long-Term Growth – With 80% equity exposure, ZGRO provides strong capital appreciation potential compared to balanced ETFs like ZBAL or conservative funds like ZCON.
        • Diversified Across Canadian, U.S., and International Markets – U.S. stocks (~45%) – Exposure to the world’s largest economy, benefiting from tech and growth stocks. Canadian stocks (~25%) – Home bias with strong exposure to financials and energy. International stocks (~30%) – Diversified across Europe, Asia, and emerging markets.
        • Small Bond Component for Stability – The 20% bond allocation helps cushion against market downturns, providing some stability while maintaining high equity exposure.
        • Lower Cost Than Active Funds – ZGRO has a low MER (0.20%), making it a cost-effective alternative to mutual funds or manually managing a portfolio of multiple ETFs.
        • Ideal for Young and Growth-Oriented Investors – ZGRO is best for investors with a long time horizon who can tolerate short-term volatility in exchange for higher long-term returns.
        • U.S. Tech and Growth Stocks – Given its high exposure to U.S. equities, ZGRO’s performance depends heavily on tech and growth sectors. Trends in AI, cloud computing, and fintech could drive long-term gains.
        • Interest Rate Policies – If interest rates stay high, growth stocks may face pressure, impacting ZGRO’s performance. If rates decline, equities—especially tech stocks—could benefit.
        • Canadian Market Trends – Since ~25% of ZGRO is allocated to Canada, its performance is partially tied to banking, energy, and resource sectors.
        • Global Economic Growth – ZGRO’s 30% international allocation means it benefits from global GDP growth, trade, and emerging market expansion.
        • Higher Volatility Compared to Balanced ETFs – With 80% equity exposure, ZGRO experiences larger price swings than balanced funds like ZBAL (60/40) or ZCON (40/60). Investors must be comfortable with short-term market fluctuations.
        • Small Bond Allocation Means Less Downside Protection – The 20% bond portion provides some stability but won’t fully protect against major market crashes. Investors looking for more stability may prefer ZBAL.
        • Sensitivity to Market Corrections – If global markets decline, ZGRO’s high equity exposure means it will drop more than traditional balanced ETFs.

        Globally diversified equity portfolio with strategic factor exposures

        Fidelity All-in-One Equity ETF (FEQT.NO)

        The Fidelity All-in-One Equity ETF (FEQT) aims to achieve capital growth by investing primarily in underlying Fidelity ETFs that provide exposure to a diversified portfolio of global equity securities. This ETF offers investors a comprehensive equity solution with strategic allocations to various investment factors, including momentum, value, and low volatility. Additionally, it includes a small allocation to cryptocurrencies, providing exposure to digital assets.

        • Strategic Factor-Based Exposure – FEQT allocates its assets across various Fidelity ETFs, each targeting specific investment factors such as momentum, value, and low volatility. This approach aims to enhance returns and manage risk by capitalizing on different market dynamics.
        • Global Diversification – The ETF provides exposure to a diversified portfolio of global equity securities, including allocations to Canadian, U.S., and international markets. This broad diversification helps mitigate country-specific risks and captures growth opportunities worldwide.
        • Inclusion of Cryptocurrency Exposure – FEQT includes a small allocation to cryptocurrencies through the Fidelity Advantage Bitcoin ETF, offering investors indirect exposure to digital assets within a traditional investment framework.
        • Cost-Effective Investment Solution – With an estimated effective indirect management and/or administration fee of approximately 0.39%, FEQT offers a cost-effective solution for investors seeking diversified equity exposure without the higher fees often associated with actively managed funds.
        • Strong Performance Since Inception – Since its inception on January 20, 2022, FEQT has delivered an average annual return of 13.04%, reflecting its effective investment strategy and favorable market conditions.
        • Factor Investing Popularity – The growing interest in factor-based investing could benefit FEQT, as its strategic allocations to momentum, value, and low volatility factors align with this trend.
        • Global Economic Growth – As FEQT is globally diversified, its performance is linked to the overall health of the global economy. Sustained economic growth across major markets can enhance corporate earnings and equity valuations, positively impacting the ETF.
        • Cryptocurrency Market Developments – The ETF’s exposure to cryptocurrencies means that developments in the digital asset space, such as regulatory changes or technological advancements, could influence its performance.
        • Equity Market Volatility – As an equity-focused ETF, FEQT is subject to market volatility. Economic downturns or adverse geopolitical events could lead to significant fluctuations in its value.
        • Factor Exposure Risks – The ETF’s targeted factor exposures may underperform during certain market conditions. For example, momentum strategies may lag in sideways markets, while value strategies could underperform during growth-driven rallies.
        • Cryptocurrency Volatility – The inclusion of cryptocurrency exposure introduces additional volatility, as digital assets are known for their price swings. Investors should be prepared for this added risk component.

        Selecting an ETF based on risk tolerance

        When choosing an ETF, it is crucial to consider an individual’s risk tolerance. In fact, most of these ETFs are structured to provide just that: appropriate risk profiles for the investor.

        Risk tolerance refers to the degree of variability in investment returns one is willing to accept. One must be aware of risk tolerance to create a diversified portfolio that matches personal investment objectives and financial goals.

        One way to assess risk tolerance is by examining the ETF’s asset allocation, as I reviewed thoroughly in this article. 

        ETFs with a higher proportion of equity holdings are typically more volatile and carry a higher risk, even some dividend ETFs. On the flip side, those with a greater share of fixed-income securities are more stable, offering lower returns but reduced risk.

        For investors with a low-risk tolerance, say those looking for retirement income, selecting ETFs with a higher percentage of fixed-income securities, such as government and corporate bonds, is advisable.

        These securities offer regular interest payments and are generally less susceptible to market fluctuations. If you’re looking to research some fixed income options, I do have an article on the top Canadian bond ETFs. These types of ETFs serve as a reliable source of income and help preserve capital for risk-averse investors.

        On the other hand, investors with a higher risk tolerance may prefer ETFs with more significant equity exposure, as these can potentially provide higher returns over the long term. These investors are more comfortable with the volatility of equity markets. They can withstand short-term losses in pursuit of long-term capital growth.

        Balancing risk and potential returns is vital in creating a diversified portfolio. In other words, investors should seek to combine ETFs with a range of asset allocations, including both equity and fixed-income holdings, to strike an optimal balance. These all-in-one funds do just that.

        What account should I have these all-in-one ETFs in?

        For the most part, the global exposure of these ETFs and the fact they have USD holdings held in Canadian-domiciled ETFs will have you paying withholding taxes on the distributions even in a TFSA or RRSP.

        But, keep in mind that would only be on the dividend portion of the distribution, and these funds are primarily designed for investors to realize capital gains over the long term from holding them. So, I wouldn’t fret too much about the withholding taxes if you purchase one of them, especially with their long-term diversification benefits.

        Just announced: Free ETF study

        To give you a taste of what kind of research and opinions are available in my monthly ETF Insights newsletter I am releasing a game changing study I completed for my newsletter.
        ​
        In this study I scrutinize a very popular ETF strategy and investigate the ETFs it involves.
        ​
        This sample newsletter is completely free, no-BS. Just enter your email below and click the button and I will send the sample newsletter direct to your inbox.

          We respect your privacy. Unsubscribe at any time.