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StockVS

TSX · CAD · ETF

BMO Balanced ETF (ZBAL.TO) ETF Analysis

ZBAL.TO
Expense ratio 0.18% Yield 1.56% Assets CA$786.72M Since January 24, 2022 Family BMO Asset Management Inc

Last Updated: October 21, 2026

CA$16.03
+CA$0.04 (+0.25%)

October 21, 2026 · Market close

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Price History

Hover for the daily close. The dotted line marks the period open.

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ZBAL.TO Annualized Returns

PeriodAnnualizedCA$100 becomes
1 year+9.70%CA$109.70
3 years+16.05%CA$156.30
5 years+8.11%CA$147.66
Since February 15, 2019+8.80%CA$191.08

Returns are total returns computed from daily closes, with dividends reinvested. As of October 21, 2026.

ZBAL.TO Return by Calendar Year

2019 and 2026 are partial years

View as table ↓View as chart ↑
YearReturn
2026 (partial year)+9.01%
2025+12.92%
2024+16.15%
2023+12.61%
2022−11.11%
2021+10.39%
2020+10.25%
2019 (partial year)+9.71%

ZBAL.TO Monthly Returns

−8%+8%
YearJanFebMarAprMayJunJulAugSepOctNovDec
2026+1.3+2.5−3.3+3.6+3.6+1.4−1.2+1.1−0.4+0.4——
2025+2.5−0.1−1.7−2.1+3.2+2.3+1.2+1.9+5.0+0.3+0.7−0.7
2024+0.5+2.4+2.4−2.1+2.3+1.6+2.9+0.3+2.3−0.1+3.9−1.2
2023+4.8−1.4+1.7+1.6−1.9+1.9+1.3−0.4−3.5−1.0+5.8+3.2
2022−3.3−1.9−0.1−3.5−1.4−5.6+5.2−1.7−3.6+3.0+4.8−3.0
2021−0.4+0.5+0.8+1.0+0.8+2.4+1.1+1.8−2.7+1.7+0.4+2.5
2020+1.5−4.1−7.0+7.2+2.3+1.5+2.4+2.0−1.0−1.9+6.3+1.6
2019——+2.3+2.1−2.1+2.1+0.6+0.2+0.8+0.6+2.5+0.1

Monthly total returns with dividends reinvested; each cell prints its signed value.

ZBAL.TO Volatility & Risk

Volatility: 7 yrs · Beta: 3 yrs
Annualized volatility
10.42%
Beta (3y)
1.18
Best year
+16.15%

2024

Worst year
−11.11%

2022

Volatility is the annualized standard deviation of daily returns. As of October 21, 2026.

Top Holdings

# Symbol Name Weight
1 ZDB.TO BMO Discount Bond ETF 28.03%
2 ZSP.TO BMO S&P 500 ETF (CAD) 27.46%
3 ZCN.TO BMO S&P/TSX Capped Composite ETF 14.89%
4 ZUAG-F.TO BMO US Aggregate Bond ETF Hedged Units 11.98%
5 ZEA.TO BMO MSCI EAFE ETF 9.9%
6 ZEM.TO BMO MSCI Emerging Markets ETF 5.55%
7 ZMID.TO BMO S&P US Mid Cap ETF 1.46%
8 ZSML.TO BMO S&P US Small Cap ETF 0.73%

Analysis

Data-derived

Fund Overview

BMO Balanced ETF (ZBAL.TO) is an exchange-traded fund. The fund holds CA$786.72M in total net assets. Annual costs run at an expense ratio of 0.18%. On a CA$10,000 position that is CA$18.00 a year. The fund is issued by BMO Asset Management Inc. The inception date on file is January 24, 2022.

The largest positions on file are BMO Discount Bond ETF (ZDB.TO), BMO S&P 500 ETF (CAD) (ZSP.TO), and BMO S&P/TSX Capped Composite ETF (ZCN.TO). BMO Discount Bond ETF alone accounts for 28.03% of the portfolio.

Performance Analysis

The most recent close on file for ZBAL.TO is CA$16.03, dated October 21, 2026. Over the trailing twelve months the total return is +9.70%. Across 5 years the annualized return works out at +8.11%. The trailing distribution yield is 1.56%.

The strongest complete calendar year on file is 2024 at +16.15%; the weakest is 2022 at −11.11%. Of the 6 complete calendar years on file, 5 finished higher. So far in 2026 the total return is +9.01%.

Price & Risk Profile

Daily returns over the trailing 7 years annualize to a volatility of 10.42%. Beta against the wider market is reported at 1.18. The 52-week range on file runs from CA$14.55 to CA$16.45. The latest close sits 10.17% above that 52-week low. The volatility figure is calculated from the stored daily closes, the same series the charts on this page use.

Every figure above is read from this page's own data on each daily rebuild. Informational only, not financial advice. As of October 21, 2026.

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