A side-by-side comparison of Mackenzie Balanced Allocation ETF (MBAL) and Vanguard Balanced Portfolio (VBAL) to help Canadian investors make an informed decision.
CIBC Investor's Edge
Get 200 free trades when you open an eligible CIBC Investor's Edge account with promo code EDGE2026.
- ✓200 free stock & ETF trades
- ✓Unlimited commission-free trades on 180+ select ETFs
- ✓Offer ends September 30, 2026
1-Year Performance
Normalised to 100 at the start — shows relative return over the trailing 12 months.
Head-to-Head Comparison
| Metric | MBAL | VBAL |
|---|---|---|
| YTD Return | +6.57%✓ | +6.04% |
| 1-Day Change | +0.10%✓ | -0.20% |
| 1-Week Change | -0.30%✓ | -0.89% |
| 1-Month Change | -1.37% | -2.05%✓ |
| Current Price | $30.19 | $39.18 |
| AUM | $233M | $5.63B✓ |
| MER (Expense Ratio) | 0% | 0% |
| Dividend Yield | 1.95% | 2.03%✓ |
| Distribution Frequency | Quarterly | Quarterly |
| Inception Date | 2020-09-29 | 2018-01-25 |
| Holdings Count | 8 | 7 |
| MorningStar Rating | ★★★★★ | ★★★★ |
| Category | Global Neutral Balanced | Global Neutral Balanced |
| Beta | 1.13 | 1.16 |
| 52-Week High | $30.77 | $40.03 |
| 52-Week Low | $25.64 | $34.04 |
| 50-Day MA | $30.20 | $39.41 |
| 200-Day MA | $28.98 | $37.97 |
✓ marks the better value for return/yield/AUM metrics. Lower ✓ for MER.
Annualised Returns
| Period | MBAL | VBAL |
|---|---|---|
| YTD | +6.57%✓ | +6.04% |
| 1 Year | +17.15%✓ | +16.21% |
| 3 Year | +14.51%✓ | +13.99% |
| 5 Year | +8.32%✓ | +7.84% |
| 10 Year | — | — |
| 1Y Volatility | 6.98% | 6.92% |
| Sharpe Ratio (3Y) | 1.51 | 1.41 |
Past performance is not a guarantee of future results.
Top 10 Holdings
| 1 | QUU | Mackenzie US Large Cap Equity Index ETF | 26.75% |
| 2 | QBB | Mackenzie Canadian Aggregate Bond Index ETF | 23.46% |
| 3 | QCN | Mackenzie Canadian Equity Index ETF | 17.56% |
| 4 | QDX | Mackenzie International Equity Index ETF | 11.73% |
| 5 | QUB | Mackenzie U.S. Aggregate Bond Index ETF (CAD-Hedged) | 9.10% |
| 6 | QDXB | Mackenzie Developed ex-North America Aggregate Bond Index ETF (CAD-Hedged) | 6.34% |
| 7 | QEE | Mackenzie Emerging Markets Equity Index ETF | 4.23% |
| 8 | QEBL | Mackenzie Emerging Markets Local Currency Bond Index ETF | 0.79% |
| 1 | VUN | VUN | 27.64% |
| 2 | VAB | VAB | 22.90% |
| 3 | VCN | VCN | 18.01% |
| 4 | VIU | VIU | 11.18% |
| 5 | VBG | VBG | 7.91% |
| 6 | VBU | VBU | 7.67% |
| 7 | VEE | VEE | 4.69% |
Sector Weights
| Sector | MBAL | VBAL |
|---|---|---|
| Basic Materials | 7.10% | 7.98% |
| Communication Services | 6.17% | 6.04% |
| Consumer Cyclicals | 7.26% | 7.61% |
| Consumer Defensive | 4.30% | 4.03% |
| Energy | 7.13% | 7.57% |
| Financial Services | 21.61% | 20.42% |
| Healthcare | 6.29% | 5.92% |
| Industrials | 11.33% | 11.32% |
| Real Estate | 1.67% | 2.11% |
| Technology | 24.54% | 24.48% |
| Utilities | 2.61% | 2.52% |
About MBAL
NA
About VBAL
NA
Which ETF is Right for You?
Both MBAL and VBAL are listed on Canadian exchanges and accessible through most Canadian brokerages including Questrade, Wealthsimple Trade, TD Direct, and Interactive Brokers.
Based on the available data, VBAL scores higher across our tracked metrics including YTD performance, dividend yield, and AUM — though both ETFs warrant individual research before investing.
- Consider your account type (TFSA, RRSP, non-registered) as it can affect dividend taxation.
- Compare management expense ratios (MER) directly on each provider's website.
- Look at average daily trading volume to assess liquidity.
- Review the fund's underlying index and holdings to ensure the exposure matches your goals.
This is not financial advice. Always do your own research or consult a licensed financial advisor before investing.
Frequently Asked Questions
What is the difference between MBAL and VBAL?
MBAL (Mackenzie Balanced Allocation ETF) and VBAL (Vanguard Balanced Portfolio) are both Canadian-listed ETFs. Key differences include their AUM ($233M vs $5.63B), dividend yield (1.95% vs 2.03%), and year-to-date performance (+6.57% vs +6.04%).
Is MBAL better than VBAL?
There is no single "better" ETF — it depends on your investment goals. If you prioritise recent performance, MBAL has outperformed year-to-date. Always review the fund's prospectus and consider your tax situation.
Can I buy MBAL and VBAL on Wealthsimple?
Most Canadian-listed ETFs are available on Wealthsimple Trade commission-free. Both MBAL and VBAL should be accessible. Check Wealthsimple's supported tickers list to confirm availability.
7 stocks to buy and hold forever
Complement your ETF portfolio with these proven long-term individual stocks.
Get the FREE Report