VS
TD Conservative ETF Portfolio (TCON) and iShares ESG Balanced ETF Portfolio (GBAL) offer distinct profiles for Canadian ETF investors. A direct comparison shows that TCON focuses its top 3 sector exposures on Sovereign, Finance, and Municipal, while GBAL leans towards Finance, Sovereign, and Municipal. When evaluating costs, TCON features a management fee (MER) of 0.27%, compared to 0.22% for GBAL. Performance-wise, TCON has returned 5.99% year-to-date with +$52 M in net flows, whereas GBAL is at 9.85% with +$89 M. Use the comparison tool below to benchmark these funds across top 10 holdings, yield, sector weights and historical returns.
NAV Performance and Flows
Key Data
Compare
TCON
GBAL
| AuM | $137.85 M | $299.76 M |
| Management Fees | 0.27% | 0.22% |
| Exp. ratio | 0.17% | 0.24% |
| Tracking Difference | - | - |
Historical performance and flows
As of October 16, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | TCON | +1.31% | +0.38% | +5.99% | +6.12% | +38.16% |
GBAL | +1.07% | +0.18% | +9.85% | +10.60% | +60.66% | |
| Flows | TCON | +$3 M | +$10 M | +$52 M | +$66 M | +$110 M |
GBAL | +$11 M | +$32 M | +$89 M | +$107 M | +$203 M |
TCON vs GBAL exposure
Countries
TCON
Canada
72.71%
USA
16.17%
Other
11.12%
GBAL
Canada
52.48%
Other
26.85%
Other
20.68%
Sectors
TCON
Sovereign
21.29%
Finance
17.74%
Municipal
16.50%
Technology
8.83%
Other
35.64%
GBAL
Finance
27.95%
Other
26.85%
Sovereign
11.65%
Municipal
9.01%
Other
24.54%
As of October 16, 2026
Top 10 Holdings
TCON
NVIDIA Corp.
1.15%
Royal Bank of Canada
1.13%
Apple, Inc.
1.02%
Canada, Bonds 3.25% 1dec2035, CAD
0.94%
Canada, Bonds 2.75% 1sep2030, CAD
0.89%
Canada, Bond 1.5 1jun2031 10Y
0.86%
Microsoft Corp.
0.83%
Canada, Bonds 1.5% 1dec2031 10Y
0.80%
Canada, Bonds 2.75% 1mar2031, CAD
0.80%
The Toronto-Dominion Bank
0.79%
GBAL
CA46437Q1081
26.31%
The Toronto-Dominion Bank
1.95%
Royal Bank of Canada
1.88%
Shopify, Inc.
1.77%
Bank of Montreal
1.15%
The Bank of Nova Scotia
1.11%
Canadian Imperial Bank of Commerce
1.03%
Canada, Bond 2 1jun2028 10Y
0.94%
ASML Holding NV
0.92%
Canada, Bond 1.25 1jun2030 10Y
0.71%
Diversification
TCON
Total weight of top 10 holdings out of 3,314 total
9.23%
GBAL
Total weight of top 10 holdings out of 1,091 total
37.77%
Characteristics
Compare
TCON
GBAL
| Provider | TD Asset Management | iShares |
| Management | Actively managed | Actively managed |
| Benchmark | - | - |
| Replication Method | - | - |
| Asset Class | Equity, Fixed Income | Equity, Fixed Income |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 2.08% | 1.58% |
| Meets ESG criteria | No | Yes |
| Inception Date | August 18, 2020 | September 10, 2020 |
Frequently asked questions about TCON and GBAL
Which ETF has performed better year to date: TCON or GBAL?
As of October 16, 2026, TCON has returned 5.99% year to date, while GBAL has returned 9.85%. GBAL is ahead on YTD performance.
Which ETF is larger by assets under management: TCON or GBAL?
As of October 16, 2026, TCON manages $137.85 M in assets, while GBAL manages $299.76 M. GBAL is the larger fund by AUM.
How are TCON and GBAL managed?
TCON is actively managed by TD Asset Management. It does not track an index. GBAL is actively managed by iShares. It does not track an index.
What sectors do TCON and GBAL emphasize?
TCON is most exposed to Sovereign, Finance, and Municipal. GBAL is most exposed to Finance, Sovereign, and Municipal.
Which ETF is attracting more investor flows: TCON or GBAL?
Year to date, TCON has seen +$51.97 M in net flows, compared with +$89.37 M for GBAL. GBAL has attracted more net investor money so far.
How do the fees of TCON and GBAL compare?
TCON has an expense ratio of 0.17%, while GBAL has an expense ratio of 0.24%.
What are the top holdings of TCON and GBAL?
TCON's largest holdings include NVIDIA Corp., Royal Bank of Canada, and Apple, Inc.. GBAL's top holdings include The Toronto-Dominion Bank and Royal Bank of Canada.
Which ETF is more diversified: TCON or GBAL?
TCON holds 3271 securities, while GBAL holds 1083. On holdings count, TCON is the more diversified portfolio.
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All content on the ETF Market Canada is for your general information use only, Cboe is not responsible for any use of content by you outside this scope. In particular, the content does not constitute any form of advice, recommendation, representation, endorsement or arrangement by Cboe and is not intended to be relied upon by users in making (or refraining from making) any specific investment or other decisions.