Best all-in-one ETFs for 2022

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 S&P/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

To view all the data in this chart, use your mouse or two fingers to slide the columns right or left. To download the list to your device, tap or click your preferred format (Excel, CSV or PDF) below.

wdt_ID	ALL-IN-ONE	Ticker	Management Fee	MER	# of Holdings	Description
1	Vanguard Growth ETF Portfolio	VGRO	0.22%	0.24%	7	Holds 7 Vanguard ETFs; 80% equities, 20% fixed income
2	Vanguard Balanced ETF Portfolio	VBAL	0.22%	0.24%	7	Holds 7 Vanguard ETFs; 60% equities, 40% fixed income
3	Vanguard Conservative ETF Portfolio	VCNS	0.22%	0.24%	7	Holds 7 Vanguard ETFs; 40% equities, 60% fixed income
4	Vanguard All-Equity ETF Portfolio	VEQT	0.22%	0.24%	7	Holds 7 Vanguard ETFs; 100% equities
5	Vanguard Conservative Income ETF Portfolio	VCIP	0.22%	0.24%	7	Holds 7 Vanguard ETFs; 20% equities, 80% fixed income
6	Vanguard Retirement Income ETF Portfolio	VRIF	0.29%	0.32%	8	Holds 8 Vanguard ETFs; seeks to yield 4% a year
7	iShares Core Equity ETF Portfolio	XEQT	0.18%	0.2%	4	Most aggressive: holds 4 iShares ETFs; 100% equities
8	iShares Core Growth ETF Portfolio	XGRO	0.18%	0.2%	8	Holds 8 iShares ETFs; 80% equities, 20% fixed income
9	iShares Core Balanced ETF Portfolio	XBAL	0.18%	0.2%	8	Holds 8 iShares ETFs; 60% equities, 40% fixed income
10	iShares Core Conservative Balanced ETF Portfolio	XCNS	0.18%	0.2%	8	Holds 8 iShares ETFs; 40% equities, 60% fixed income
11	iShares Core Income Balanced ETF Portfolio	XINC	0.18%	0.2%	8	Most conservative: 20% equities, 80% fixed income
12	BMO Growth ETF	ZGRO	0.18%	0.2%	10	Holds 9 BMO ETFs; 80% equities, 20% fixed income
13	BMO Balanced ETF	ZBAL	0.18%	0.2%	10	Holds 9 BMO ETFs; 60% equities, 40% fixed income
14	BMO Conservative ETF	ZCON	0.18%	0.2%	10	Holds 9 BMO ETFs; 40% equities, 60% fixed income
15	Horizons Growth TRI ETF Portfolio	HGRO	0%	0.16%	6	Holds 6 Horizons equity funds with global exposure; 100% equities

Watch: Asset-Allocation ETFs

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

Comments Cancel reply

David Harries says:

April 6, 2021 at 1:43 am

Re: HGRO
You say “management fee doesn’t include underlying ETFs” but what about the MER? Does the MER include the underlying ETFs…and what about HBAL & HCON?

Also HGRO is the only fund for which you comment that it provides “global exposure.” Is that to say the other funds listed do not provide global exposure?

Reply
1. MoneySense Editors says:
  
  April 6, 2021 at 2:32 pm
  
  From panellist Mark Seed:
  
  1. https://www.horizonsetfs.com/ETF/HGRO#
  
  re: The management fee should be part of the MER but as you know, there might be other fees involved with any fund as well.
  
  Based on the literature I see on the Horizons ETF site, currently HGRO MER = 0.16%.
  
  So, the HGRO MER, should, consist of the management fee as well re: re: the cost of running the fund. I’m not sure why Horizons ETFs don’t list that?
  
  I was only taking the literature from their site to avoid any misrepresentation.
  
  HGRO is subject to the fees of its underlying ETFs. Horizons ETFs currently anticipates that the management expense ratio of HGRO will be approximately 0.16%, and will not exceed 0.17%, while the aggregate trading expense ratio of the portfolio of Horizons TRI ETFs held by HGRO will be approximately 0.14% and is not expected exceed 0.20%. As trading expense ratios include expenses outside of the Manager’s control, the trading expense ratio of HGRO is subject to change at any time.
  
  2. I didn’t mean to imply other ETFs don’t have some “global exposure” rather HGRO has global exposure as part of it’s all-in-one structure by design.
  
  In HGRO, folks get Canadian, U.S., including some NASDAQ tilt, and some international flavour via Europe, developed and international markets.
  
  Reply
David Harries says:

April 7, 2021 at 3:04 am

Mark,
Thanks for your prompt reply. It may just be me but I wasn’t sure what exactly your reply was trying to convey so I did the weighted average using figures from the Horizons web site and the short answer is YES, the MER listed for HGRO includes the expenses incurred by the underlying funds…and the same is true re HBAL & HCON, though Horizons’ footnotes could be clearer!

Of course you are correct that no MER includes trading expenses (typically expressed as a Trading Expense Ratio or TER) but it’s not because those expenses are out of the manager’s control. (Indeed, to the extent the TER reflects portfolio turnover, it also reflects a manager’s propensity to trade, at least in the case of an actively managed fund.) Rather, accounting principles require commissions incurred to buy a security be included in the cost of the security and commissions incurred to sell a security be subtracted from the proceeds of that sale so, to include them in management expenses would be to count them twice. By the way, the HGRO TER for 2020 was 0.18%.

Reply
Larry says:

July 12, 2021 at 7:03 pm

The advantage with Horizon’s TRI all in one offerings is that they don’t distribute dividends, but rather they accrue to the NAV, or net asset value. While Canadian dividends are tax advantaged, US dividend’s aren’t. In a tax-free account it doesn’t matter, but in a margin or corporate account, having the earnings treated as capital gains (upon sale only) is worth something as well IMO.

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Bruce says:

December 7, 2021 at 5:38 pm

Reading a lot about retirement portfolios without bonds. 90% equities and 10% cash. With the notion that bonds in a post pandenic world will remain low performers. Hold cash that you’ll need to draw on for two years. Most downturn in the markets have historically been returning to rise within two years. Please provide some yoour insight from your staff on this portfolio approach.

Reply
Jacqueline says:

March 27, 2022 at 2:28 pm

Hi there! First off, I am so appreciative of Moneysense!

I need to clarify, are any of these ETFs specifically Index ETFs? I invest in Vangaurd Growth, but for my book suggests iShares Growth. Are they a similar product or is IShares index or Vanguard not?

Thanks!

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