Best All-in-One ETF Canada 2025

What is an all-in-one ETF?

An all-in-one ETF is a single fund that holds a complete diversified portfolio inside it. You buy one ticker and own thousands of stocks and bonds across every major market in the world. The fund automatically rebalances itself to maintain its target allocation. You never have to do anything except buy more.

Before all-in-one ETFs existed, building a properly diversified portfolio meant buying four to six separate ETFs and rebalancing them manually once or twice a year. This was manageable but created a decision point every time you needed to add money: which fund are you buying this time? All-in-one ETFs eliminate that decision entirely.

The category was pioneered in Canada in 2018 when Vanguard and BMO simultaneously launched multi-asset ETF suites. iShares followed with its suite including XEQT and XGRO in 2019. The products have gathered hundreds of billions in combined assets and are now the default recommendation for most financial journalists, fee-only planners, and independent investing communities in Canada.

They are cheap, simple, diversified, tax-efficient, and available at any major Canadian brokerage. For investors who want to spend five minutes per year on their portfolio, an all-in-one ETF is the correct tool.

The six major funds

Three issuers each offer two main products: one at 100% equity and one at 80% equity with 20% bonds. All six are available on every major Canadian brokerage and trade on the Toronto Stock Exchange.

Full comparison table

Every major metric for all six funds in one place. Data as of March 2026.

XEQT — iShares, 100% Equity

XEQT is our top recommendation for most Canadian investors. It is the largest all-in-one ETF in Canada by assets, costs 0.20%, and provides exposure to over 8,400 companies across four diversified regions. It requires the highest risk tolerance of any fund on this list but produces the highest expected long-run return.

XEQT holds approximately 45% US equity, 25% Canadian equity, 25% international developed market equity, and 5% emerging market equity through four underlying iShares ETFs: XUU, XIC, XEF, and XEC. The automatic rebalancing maintains these weights without any action from the investor.

At roughly $15 billion in assets, XEQT is the most liquid all-in-one ETF in Canada, meaning the tightest bid-ask spreads and the most efficient execution. For the full analysis of how XEQT works, see our complete XEQT guide.

Best for: Investors under 55 with a 15-plus-year horizon, stable income, and confidence in holding through a 30% drawdown without selling.

VEQT — Vanguard, 100% Equity

VEQT is the closest direct competitor to XEQT. It holds 100% global equities through four underlying Vanguard ETFs and offers the same essential product at a slightly higher MER of 0.24%. The main differences are the issuer, the slight geographic overweight to Canada at approximately 30% versus XEQT's 25%, and the underlying fund methodology.

VEQT's higher Canadian weight is a deliberate design choice by Vanguard Canada. Whether 25% or 30% Canadian equity is better depends on your currency exposure preferences and personal view on Canadian equity returns. The difference has historically been small. For a detailed side-by-side analysis, see our XEQT vs VEQT comparison.

Best for: Investors who prefer Vanguard's brand and methodology and do not mind the slightly higher MER. Functionally equivalent to XEQT for most purposes.

ZEQT — BMO, 100% Equity

ZEQT is BMO's 100% equity all-in-one ETF, launched in June 2018. It holds four underlying BMO equity ETFs and charges 0.20%, matching XEQT on cost. It is a solid product with a smaller asset base of roughly $1.5 billion, which means slightly wider spreads but no meaningful difference for long-term buy-and-hold investors.

ZEQT is an excellent choice for investors who already bank with BMO or hold BMO accounts, for whom there may be marginal convenience in keeping ETFs within the same ecosystem. For most investors, XEQT's larger asset base and iShares infrastructure make it the marginally preferable 100% equity option.

Best for: Investors who specifically prefer BMO products or who want a 100% equity option from the BMO suite at the same price as XEQT.

XGRO — iShares, 80/20

XGRO is the logical choice for investors who want the iShares product family but at 80% equity with 20% bonds. It costs 0.20% and lives in the same fund family as XEQT. For investors who decide 80/20 is right for them, XGRO is the cleanest way to access that allocation within the iShares suite.

The 20% bond allocation reduces volatility and peak-to-trough drawdowns compared to XEQT. During the COVID crash, XGRO fell roughly 24% versus XEQT's 30%. That cushion has a real cost in expected long-run returns but a real benefit in reduced panic during market stress.

Best for: Investors who want the iShares ecosystem at 80/20 allocation. Particularly relevant for investors within 10 to 15 years of retirement who need some bond exposure.

VGRO — Vanguard, 80/20

VGRO is Vanguard's growth-oriented all-in-one ETF, the largest 80/20 product in Canada at roughly $4.5 billion in assets. It charges 0.24%, which is 0.04% more than XGRO and ZGRO. Over a long horizon, this cost difference compounds into a meaningful figure, though the primary decision should be the asset allocation, not the 0.04% gap.

VGRO has more history than XGRO, having launched in January 2018 versus XGRO's June 2019 launch. For investors who want the 80/20 allocation and prefer Vanguard's brand and methodology, VGRO is the natural choice. See our detailed XEQT vs VGRO comparison for the full analysis.

Best for: Investors who prefer Vanguard and want the 80/20 allocation. The 0.04% extra MER versus XGRO is real but not a decisive factor.

ZGRO — BMO, 80/20

ZGRO is BMO's growth ETF, targeting the same 80/20 allocation as XGRO and VGRO at the same 0.20% MER as the iShares equivalent. It holds nine underlying BMO ETFs including both equity and fixed income components. For investors within the BMO ecosystem or those who prefer BMO's approach, ZGRO is a solid option.

At roughly $1.8 billion in assets, ZGRO is smaller than VGRO but comparable to XGRO. The practical differences between XGRO and ZGRO are minimal for long-term investors. For the detailed comparison, see our XEQT vs ZGRO comparison.

Best for: Investors who prefer BMO and want the 80/20 allocation at the same MER as XGRO.

Which one is right for you?

Two decisions determine which fund belongs in your portfolio: first, which allocation suits your risk tolerance and timeline; second, which issuer you prefer within that allocation. The issuer choice is secondary to the allocation choice.

The verdict

For most Canadian investors starting or continuing a long-term investment strategy, XEQT is the best all-in-one ETF available in 2025. It has the lowest MER in the 100% equity category, the largest asset base for liquidity, and the simplest structure.

For investors who specifically want some bond exposure, XGRO and ZGRO are both excellent at 0.20% MER. VGRO at 0.24% is also a fine choice, with the understanding that the 0.04% annual difference compounds over time. All six funds are vastly superior to the alternative of holding bank mutual funds at 1.5% to 2.5% MER.

The single most important variable in your long-term investment outcome is not which of these six funds you choose. It is whether you stay invested through market downturns. Pick the one that suits your allocation preference and your genuine risk tolerance, automate contributions, and do not check the balance during crashes. That discipline is worth more than any fund selection decision.

For Canadian investors who want to build further understanding before opening an account, our TFSA vs RRSP guide covers which account to hold your fund in, and our step-by-step buying guide covers opening a Wealthsimple account and placing your first trade.