VS
iShares Core Conservative Balanced ETF (XCNS) and TD Conservative ETF Portfolio (TCON) offer distinct profiles for Canadian ETF investors. A direct comparison shows that XCNS focuses its top 3 sector exposures on Finance, Sovereign, and Technology, while TCON leans towards Sovereign, Finance, and Municipal. When evaluating costs, XCNS features a management fee (MER) of 0.18%, compared to 0.27% for TCON. Performance-wise, XCNS has returned 5.97% year-to-date with +$103 M in net flows, whereas TCON is at 5.47% with +$49 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
XCNS
TCON
| AuM | $432.28 M | $134.00 M |
| Management Fees | 0.18% | 0.27% |
| Exp. ratio | 0.19% | 0.17% |
| Tracking Difference | - | - |
Historical performance and flows
As of September 2, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | XCNS | -1.08% | +0.03% | +5.97% | +10.49% | +37.24% |
TCON | +0.32% | +0.03% | +5.47% | +10.00% | +34.55% | |
| Flows | XCNS | +$11 M | +$34 M | +$103 M | +$150 M | +$271 M |
TCON | +$5 M | +$11 M | +$49 M | +$67 M | +$109 M |
XCNS vs TCON exposure
Countries
XCNS
Canada
54.21%
USA
30.16%
Other
15.62%
TCON
Canada
72.09%
USA
16.44%
Other
11.47%
Sectors
XCNS
Finance
23.83%
Sovereign
18.32%
Technology
10.86%
Municipal
10.56%
Other
36.42%
TCON
Sovereign
21.13%
Finance
18.21%
Municipal
16.18%
Technology
8.87%
Other
35.60%
As of September 2, 2026
Top 10 Holdings
XCNS
Apple, Inc.
1.27%
NVIDIA Corp.
1.22%
Royal Bank of Canada
0.87%
Microsoft Corp.
0.87%
Amazon.com, Inc.
0.60%
The Toronto-Dominion Bank
0.59%
Canada, Bonds 2.75% 1mar2031, CAD
0.56%
Canada, Bonds 2.75% 1sep2030, CAD
0.56%
Canada, Bonds 3.25% 1dec2035, CAD
0.55%
Canada, Bonds 3.25% 1jun2035, CAD
0.52%
TCON
Royal Bank of Canada
1.23%
NVIDIA Corp.
1.11%
Apple, Inc.
1.05%
Canada, Bonds 3.25% 1jun2036, CAD
0.94%
Canada, Bonds 3.25% 1dec2035, CAD
0.90%
The Toronto-Dominion Bank
0.85%
Canada, Bonds 2.75% 1sep2030, CAD
0.84%
Microsoft Corp.
0.81%
Canada, Bond 1.5 1jun2031 10Y
0.80%
Canada, Bonds 1.5% 1dec2031 10Y
0.80%
Diversification
XCNS
Total weight of top 10 holdings out of 21,952 total
7.60%
TCON
Total weight of top 10 holdings out of 3,307 total
9.31%
Characteristics
Compare
XCNS
TCON
| Provider | iShares | TD Asset Management |
| Management | Actively managed | Actively managed |
| Benchmark | - | - |
| Replication Method | ||
| Asset Class | Equity, Fixed Income | Equity, Fixed Income |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 2.60% | 2.11% |
| Meets ESG criteria | No | No |
| Inception Date | August 7, 2019 | August 18, 2020 |
Frequently asked questions about XCNS and TCON
Which ETF has performed better year to date: XCNS or TCON?
As of September 2, 2026, XCNS has returned 5.97% year to date, while TCON has returned 5.47%. XCNS is ahead on YTD performance.
Which ETF is larger by assets under management: XCNS or TCON?
As of September 2, 2026, XCNS manages $432.28 M in assets, while TCON manages $134.00 M. XCNS is the larger fund by AUM.
How are XCNS and TCON managed?
XCNS is actively managed by iShares. It does not track an index. TCON is actively managed by TD Asset Management. It does not track an index.
What sectors do XCNS and TCON emphasize?
XCNS is most exposed to Finance, Sovereign, and Technology. TCON is most exposed to Sovereign, Finance, and Municipal.
Which ETF is attracting more investor flows: XCNS or TCON?
Year to date, XCNS has seen +$102.77 M in net flows, compared with +$48.51 M for TCON. XCNS has attracted more net investor money so far.
How do the fees of XCNS and TCON compare?
XCNS has an expense ratio of 0.19%, while TCON has an expense ratio of 0.17%.
What are the top holdings of XCNS and TCON?
XCNS's largest holdings include Apple, Inc., NVIDIA Corp., and Alphabet, Inc.. TCON's top holdings include Royal Bank of Canada, NVIDIA Corp., and Apple, Inc..
Which ETF is more diversified: XCNS or TCON?
XCNS holds 21780 securities, while TCON holds 3267. On holdings count, XCNS is the more diversified portfolio.
Recent articles about XCNS and TCON
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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.