Best all-in-one ETFs for 2022

by Ann deBruyn

Asset-allocation exchange-traded funds (ETFs), also called all-in-one ETFs, have become increasingly popular among Canadian investors, so it’s no wonder that 15 of the panel’s overall “Best ETFs for Canadians” selections are in this category. All but a few of the choices received unanimous support from our panellists, and there were no new additions this year. “Asset-allocation ETFs absolutely changed the game when they came on the scene a few years ago, and now nearly every ETF provider offers a suite of these all-in-one products, which is great for investor choice,” says Robb Engen.

There was some discussion around adding two Fidelity all-in-one funds—the Fidelity All-in-One Balanced ETF (FBAL) and the Fidelity All-in-One Growth ETF (FGRO)—because they’ve allocated 2% and 3% of their investments, respectively, to the Fidelity Advantage Bitcoin ETF (FBTC), which invests directly in bitcoin. While the panel agreed these were interesting options, they ultimately said no because of the funds’ exposure to crypto.

“I would exclude anything that uses cryptocurrency,” says Mark Yamada, adding that he would extend that same concern to any asset with no expected return, like more general currencies and gold.

Out of all the choices that did make the list, Dale Roberts leans more towards HGRO, Horizons’ offering, for its tax efficiency and portfolio construction. It holds six total return ETFs, including the Horizons U.S. Large Cap Index ETF, the Horizons SP/TSX 60 Index ETF and the Horizons Emerging Markets ETF.

Yves Rebetez and Mark Seed have a bias to XGRO, which is 80% equities and 20% fixed income, as “the traditional 60/40 balanced fund will likely suffer from rising rates,” says Rebetez. “We don’t necessarily think the traditional balanced fund is dead, but some think so, which is why in your asset accumulation years it’s likely best to learn to live with stocks, including the short-term volatility, to be rewarded long-term with equities. Although now, with the severe bond correction, we may have some better risk reward to re-enter some bond exposure.”

Best all-in-one ETFs for 2022

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Watch: MoneySense – BMO ETFs – Asset-Allocation ETFs

This article was originally published in 2012 and is updated annually (most recently on May 25, 2022).