Building a Resilient Portfolio with Commission-Free ETFs (RBC Canada)

All tickers below are CAD-listed iShares ETFs available commission-free at RBC Direct Investing.

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Disclaimer: This material is for information only and does not constitute investment advice. Consider your risk tolerance, time horizon, and the need for guaranteed income before investing.

ETF Universe (Commission-Free, CAD-Listed Unless Noted)

Symbol Fund Name Asset Class Currency
XEQTiShares Core Equity ETF PortfolioMulti-AssetCAD
XGROiShares Core Growth ETF PortfolioMulti-AssetCAD
XBALiShares Core Balanced ETF PortfolioMulti-AssetCAD
XCNSiShares Core Conservative Balanced ETF PortfolioMulti-AssetCAD
GGROiShares ESG Growth ETF PortfolioMulti-AssetCAD
GEQTiShares ESG Equity ETF PortfolioMulti-AssetCAD
XINCiShares Core Income Balanced ETF PortfolioMulti-AssetCAD
GBALiShares ESG Balanced ETF PortfolioMulti-AssetCAD
GCNSiShares ESG Conservative Balanced ETF PortfolioMulti-AssetCAD
FIEiShares Canadian Financial Monthly Income ETFMulti-AssetCAD
CGLiShares Gold Bullion ETFCommodityCAD
SVRiShares Silver Bullion ETFCommodityCAD
XBBiShares Core Canadian Universe Bond Index ETFFixed IncomeCAD
XCBiShares Core Canadian Corporate Bond Index ETFFixed IncomeCAD
XLBiShares Core Canadian Long Term Bond Index ETFFixed IncomeCAD
CBOiShares 1–5 Year Laddered Corporate Bond Index ETFFixed IncomeCAD
CLFiShares 1–5 Year Laddered Government Bond Index ETFFixed IncomeCAD
XGGBiShares Global Government Bond Index ETF (CAD-Hedged)Fixed IncomeCAD
XIUiShares S&P/TSX 60 Index ETFEquityCAD
XICiShares Core S&P/TSX Capped Composite Index ETFEquityCAD
XEFiShares Core MSCI EAFE IMI Index ETFEquityCAD
XWDiShares MSCI World Index ETFEquityCAD
XECiShares Core MSCI Emerging Markets IMI Index ETFEquityCAD
XSPiShares Core S&P 500 Index ETF (CAD-Hedged)EquityCAD
XUSiShares Core S&P 500 Index ETFEquityCAD
IVViShares Core S&P 500 ETFEquityUSD
XQQiShares NASDAQ-100 Index ETF (CAD-Hedged)EquityCAD
EWJiShares MSCI Japan ETFEquityUSD
XCHiShares China Index ETFEquityCAD
XIDiShares India Index ETFEquityCAD
EWWiShares MSCI Mexico ETFEquityUSD
EWYiShares MSCI South Korea ETFEquityUSD
EWHiShares MSCI Hong Kong ETFEquityUSD
EWZiShares MSCI Brazil ETFEquityUSD
EWUiShares MSCI United Kingdom ETFEquityUSD
EWLiShares MSCI Switzerland ETFEquityUSD
EWGiShares MSCI Germany ETFEquityUSD
EWAiShares MSCI Australia ETFEquityUSD
EWSiShares MSCI Singapore ETFEquityUSD
EWTiShares MSCI Taiwan ETFEquityUSD
EZAiShares MSCI South Africa ETFEquityUSD
XEIiShares Core S&P/TSX Composite High Dividend Index ETFEquityCAD
XDViShares Canadian Select Dividend Index ETFEquityCAD
CDZiShares S&P/TSX Canadian Dividend Aristocrats Index ETFEquityCAD
CUDiShares US Dividend Growers Index ETF (CAD-Hedged)EquityCAD
XFNiShares S&P/TSX Capped Financials Index ETFEquityCAD
XEGiShares S&P/TSX Capped Energy Index ETFEquityCAD
XREiShares S&P/TSX Capped REIT Index ETFEquityCAD
XITiShares S&P/TSX Capped Information Technology Index ETFEquityCAD
XUTiShares S&P/TSX Capped Utilities Index ETFEquityCAD
XSTiShares S&P/TSX Capped Consumer Staples Index ETFEquityCAD
IBITiShares Bitcoin Trust ETFDigital AssetsUSD
ETHAiShares Ethereum Trust ETFDigital AssetsUSD

Design Principles for Resilience

  • Diversify globally in CAD: Balance Canada (XIC/XIU) with U.S. (XUS/XSP) and international (XEF/XEC) holdings.
  • Manage currency risk thoughtfully: Blend unhedged U.S. exposure (XUS) with CAD-hedged (XSP) if volatility control is desired.
  • Control interest-rate sensitivity: Pair aggregate bonds (XBB) with short-term ladders (CBO/CLF).
  • Add real-asset ballast: Consider a modest gold sleeve (CGL) as a diversifier.
  • Keep costs low: Prefer broad, core ETFs; rebalance semi-annually or at ±5% drift.

Model Portfolios by Time to Retirement

20 Years to Retirement

Growth-oriented (~85% equity)

Objective: maximize long-term growth while maintaining broad diversification and modest real-asset protection.

TickerRoleAllocation
XUSU.S. large-cap core (unhedged)35%
XSPU.S. large-cap (CAD-hedged)10%
XICBroad Canadian equity15%
XEFDeveloped markets ex-NA15%
XECEmerging markets10%
XBBAggregate CAD bonds10%
CGLGold diversifier5%
Total equity / bonds / gold85% / 10% / 5%

Rationale: Equity-heavy mix exploits long compounding runway; EM and EAFE add diversification. A 10% bond core stabilizes rebalances; a small gold sleeve hedges tail risks.

10 Years to Retirement

Balanced-growth (~70% equity)

Objective: sustain growth while gradually reducing sequence-of-returns risk.

TickerRoleAllocation
XUSU.S. large-cap core (unhedged)25%
XSPU.S. large-cap (CAD-hedged)10%
XICBroad Canadian equity15%
XEFDeveloped markets ex-NA10%
XECEmerging markets5%
XBBAggregate CAD bonds15%
CBOShort-term corporate bonds10%
CLFShort-term government bonds5%
CGLGold diversifier5%
Total equity / bonds / gold70% / 25% / 5%*

Rationale: Introduces meaningful short-duration bonds (CBO/CLF) to reduce rate sensitivity. A small hedge (XSP) tempers currency swings as retirement nears. *Gold counted separately.

5 Years to Retirement

Resilient (~65% equity)

Objective: protect against deep drawdowns while preserving growth potential.

TickerRoleAllocation
XUSU.S. large-cap core (unhedged)22%
XSPU.S. large-cap (CAD-hedged)18%
XICBroad Canadian equity15%
XEFDeveloped markets ex-NA8%
XECEmerging markets2%
XBBAggregate CAD bonds12%
CBOShort-term corporate bonds10%
CLFShort-term government bonds8%
CGLGold diversifier5%
Total equity / bonds / gold65% / 35% / 5%*

Rationale: Equity still drives returns, but a larger short-duration bond sleeve reduces volatility and supports rebalancing. The hedged U.S. sleeve (XSP) mitigates CAD/USD swings close to retirement.

Implementation Notes

  • Rebalancing: Review semi-annually or when any sleeve drifts by ±5 percentage points.
  • Glide path: From 10 years out, reduce equity by ~3–5% per year toward a 45–55% equity “retirement” mix, increasing CLF/CBO/XBB proportionally.
  • RRSP context: Dividend income has no tax advantage over capital gains inside RRSP; favour total-return, broad-market exposures.
  • Risk controls: Keep any single-sector tilts (e.g., technology via XQQ or Canadian tech via XIT) to ≤5–10% of equity to limit concentration risk.

For educational purposes only. Past performance does not guarantee future results.

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