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ETFs (Exchange-Traded Funds) are one of the most cost-effective ways for Canadians to invest. Here are the top ETFs available on Canadian exchanges for TFSA, RRSP, and non-registered accounts.
| Ticker | Name | Type | MER | Currency |
|---|---|---|---|---|
| XEQT | iShares Core Equity ETF Portfolio | All-equity balanced | 0.20% | CAD |
| XGRO | iShares Core Growth ETF Portfolio | 80/20 equity/bond | 0.20% | CAD |
| XBAL | iShares Core Balanced ETF Portfolio | 60/40 equity/bond | 0.20% | CAD |
| VEQT | Vanguard All-Equity ETF Portfolio | All-equity balanced | 0.24% | CAD |
| VGRO | Vanguard Growth ETF Portfolio | 80/20 equity/bond | 0.25% | CAD |
| VBAL | Vanguard Balanced ETF Portfolio | 60/40 equity/bond | 0.25% | CAD |
| VFV | Vanguard S&P 500 Index ETF | US large-cap | 0.09% | CAD |
| VCN | Vanguard FTSE Canada All Cap Index | Canadian equities | 0.05% | CAD |
| XIU | iShares S&P/TSX 60 Index ETF | Top 60 TSX stocks | 0.18% | CAD |
| ZAG | BMO Aggregate Bond Index ETF | Canadian bonds | 0.09% | CAD |
The "one-fund" approach is popular among Canadian DIY investors. XEQT, VEQT, XGRO, and VGRO are diversified across Canadian, US, international, and emerging market equities in a single ETF. You buy one ETF and you're globally diversified.
This approach requires zero rebalancing and works perfectly in a TFSA or RRSP.
| Account | 2025 Contribution Limit | Tax Advantage | Best For |
|---|---|---|---|
| TFSA | $7,000/year (cumulative room ~$95,000) | Tax-free growth + withdrawals | Any income, flexible access |
| RRSP | 18% of prior year income (max $31,560) | Tax deduction now; taxed on withdrawal | High earners, retirement |
| FHSA | $8,000/year (max $40,000 lifetime) | Tax deduction + tax-free withdrawal for home | First-time home buyers |
XEQT and VEQT are popular choices for a TFSA for long-term investors seeking global equity exposure in a single fund. For a more conservative approach, XGRO or VGRO (80% equity, 20% bonds) are widely used. This is not a personalized recommendation — your risk tolerance and timeline matter.
ETFs carry investment risk including the risk of losing money. However, broad-market index ETFs diversify across hundreds or thousands of securities, which reduces the risk of any single company failing. Market downturns can still cause significant losses.
Wealthsimple Trade offers commission-free ETF trading in Canada. Questrade also offers free ETF purchases (but charges $4.95 per sell). Both are popular among Canadian self-directed investors.
MER stands for Management Expense Ratio — the annual fee charged by the ETF provider, expressed as a percentage of assets. A 0.20% MER means you pay $20 per year on a $100 investment. Lower MER means more of your investment return stays with you.
Yes. US-listed ETFs like VOO (Vanguard S&P 500) can be held in a Canadian RRSP and are exempt from the 15% US withholding tax on dividends within an RRSP. In a TFSA, US-listed ETFs are NOT exempt from withholding tax, making Canadian-listed equivalents like VFV preferable.