This TD One-Click ETF review covers the key things you need to know to make an informed decision.
While the TD One-Click ETFs are younger compared to the all-in-one offerings of Vanguard, BMO, iShares, and Fidelity — they are unique in many ways.
Let’s find out.
Note: Data expressed below are valid as of April 26, 2023.
Photo credit: Richmond News
Table of Contents
Overview of TD One-Click ETFs
| ETF name | TD One-Click Conservative ETF Portfolio | TD One-Click Moderate ETF Portfolio | TD One-Click Aggressive ETF Portfolio |
| Ticker | TOCC | TOCM | TOCA |
| Category | Global Fixed Income Balanced | Global Equity Balanced | Global Equity |
| Benchmark asset mix | 70% Fixed Income10% Canadian Equity10% International Equity10% U.S. Equity | 40% Fixed Income 20% Canadian Equity 15% International Equity 25% U.S. Equity | 10% Fixed Income 30% Canadian Equity 20% International Equity 40% U.S. Equity |
| Total assets | $8.57 million | $15.90 million | $28.26 million |
| # of holdings | 15 | 15 | 10 |
| Annualized return since inception | 0.19% | 4.19% | 8.33% |
| Last dividend yield | 1.97 | 1.02 | 0.14% |
| Distribution frequency | Monthly | Monthly | Monthly |
| Max. management fee | 0.25% | 0.25% | 0.25% |
| MER | 0.28% | 0.28% | 0.28% |
| Risk rating | Low | Low to medium | Low to medium |
TD launched its one-click ETFs in 2020 to provide Canadiana more options in the trending world of all-in-one ETFs.
The TD On-Click ETF offering comprises three all-in-one ETFs with different investment objectives, asset mixes, risk ratings, and returns.
These ETFs are traded on the Toronto Stock Exchange (TSX) and managed by TD Asset Management Inc.
From the above table, you can see that the three ETFs have the same fee and distribution schedule.
But because the ETFs are composed of passive and active ETFs, they have above-average management fees and management expense ratios (MERs) as highlighted above.
Specifically, TD seeks to invest approximately 75% of the ETF funds in passive ETFs and 25% in active & Quant ETFs.
This mix makes the one-click ETFs unique compared to the all-in-one ETFs of other providers that are passively managed (plain-vanilla index funds).
The benefit is that TD One-Click ETFs provide access to diversified core-and-satellite (passive and active) funds that may outperform the market.
As such, the underlying fees of the ETFs are relatively low considering the core-and-satellite approach. But this may backfire when the ETFs underperform.
That being said, let’s now review each of TD’s On-Click ETFs.
TD One-Click Conservative ETF Portfolio (TOCC) Review
| ETF name | TD One-Click Conservative ETF Portfolio |
| Ticker | TOCC |
| Inception date | August 11, 2020 |
| Portfolio Advisor | TD Asset Management Inc |
| Exchange | Toronto Stock Exchange (TSX) |
| Category | Global Fixed Income Balanced |
| Benchmark asset mix | 70% FTSE Canada Universe Bond Index 10% Solactive Canada Broad Market Index (CA NTR) 10% Solactive US Large Cap CAD Index (CA NTR) 10% Solactive GBS Developed Markets ex North America Large & Mid Cap CAD Index (CA NTR) |
| Total assets | $8.57 million |
| # of holdings | 15 |
| Annualized return since inception | 0.19% |
| Last dividend yield | 1.97 |
| Distribution frequency | Monthly |
| Max Management fee | 0.25% |
| MER | 0.28% |
| Risk rating | Low |
The TD One-Click Conservative ETF Portfolio (TOCC) is a low-risk all-in-one ETF that was designed to provide moderate income, preserve investment capital, and some capital growth.
To achieve its objective, TOCC invests in global fixed income and equity securities through TD’s ETFs. The target asset allocation is 70% fixed income and 30% equities.
However, the following were the actual allocation of the ETF as of the time of writing:
| Asset | Allocation |
| Domestic Bonds | 48.10% |
| US Equity | 16.10% |
| Foreign Bonds | 12.80% |
| International Equity | 11.80% |
| Canadian Equity | 9.10% |
| Cash and Equivalents | 0.80% |
| Income Trust Units | 0.50% |
| Other | 0.70% |
While TOCC has 15 holdings, the following were the top ten holdings as of the time of writing:
| Holding | Allocation |
| TD Canadian Aggregate Bond Index ETF (TDB) | 36.75% |
| TD International Equity Index ETF (TPE) | 8.07% |
| TD Global Technology Leaders Index ETF (TEC) | 7.41% |
| TD Select Short Term Corp Bond Ladder ETF (TCSB) | 7.31% |
| TD U.S. Long Term Treasury Bond ETF (TULB) | 7.22% |
| TD Canadian Equity Index ETF (TTP) | 6.18% |
| TD U.S. Equity Index ETF (TPU) | 5.75% |
| TD Canadian Long Term Federal Bond ETF (TCLB) | 4.85% |
| TD Active Global Income ETF (TGFI) | 4.47% |
| TD Q Canadian Low Volatility ETF (TCLV) | 2.78% |
As per geographic allocation, TOCC invests across different countries with 58.30% allocation in Canada and 29% in the US.
The top three sectors of the ETF are Fixed Income (60.90%), Technology (8.90%), and Financial Services (6.20%).
Finally, TOCC has provided the following returns from its inception to March 31, 2023:
- 1-year -1.74%
- 2-year -0.42%
- Since inception 0.19%
TD One-Click Moderate ETF Portfolio (TOCM) Review
| ETF name | TD One-Click Moderate ETF Portfolio |
| Ticker | TOCM |
| Inception date | August 11, 2020 |
| Portfolio advisor | TD Asset Management Inc |
| Exchange | Toronto Stock Exchange (TSX) |
| Category | Global Equity Balanced |
| Benchmark asset mix | 40% FTSE Canada Universe Bond Index 20% Solactive Canada Broad Market Index (CA NTR) 25% Solactive US Large Cap CAD Index (CA NTR) 15% Solactive GBS Developed Markets ex North America Large & Mid Cap CAD Index (CA NTR) |
| Total assets | $15.90 million |
| # of holdings | 15 |
| Annualized return since inception | 4.19% |
| Last dividend yield | 1.02 |
| Distribution frequency | Monthly |
| Max. management fee | 0.25% |
| MER | 0.28% |
| Risk rating | Low to medium |
The TD One-Click Moderate ETF Portfolio (TOCM) was designed to provide long-term capital growth and some income with exposure to global equity balanced.
To this end, the ETF invests mainly in global equity and fixed income securities through the underlying ETFs of TD. The target allocation is 60% equities and 40% fixed income.
However, below is the actual asset mix of TOCM as of the time of writing:
| Asset | Allocation |
| US Equity | 29.60% |
| Domestic Bonds | 23.70% |
| Canadian Equity | 19.30% |
| International Equity | 17.40% |
| Foreign Bonds | 8.10% |
| Cash and Equivalents | 0.70% |
| Income Trust Units | 0.50% |
| Other | 0.80% |
Like TOCC, TOCM has 15 holdings most of which are from TD. Below are the top 10 holdings as of the time of writing.
| Holding | Allocation |
| TD Canadian Aggregate Bond Index ETF (TDB) | 16.85% |
| TD Canadian Equity Index ETF (TTP) | 13.95% |
| TD U.S. Equity Index ETF (TPU) | 13.22% |
| TD Global Technology Leaders Index ETF (TEC) | 12.07% |
| TD International Equity Index ETF (TPE) | 10.36% |
| TD Q Canadian Low Volatility ETF (TCLV) | 5.43% |
| TD Q Global Multifactor ETF (TQGM) | 5.27% |
| TD Q Global Dividend ETF (TQGD) | 5.21% |
| TD Canadian Long Term Federal Bond ETF (TCLB) | 4.76% |
| TD U.S. Long Term Treasury Bond ETF (TULB) | 4.73% |
The ETF allocates funds to different countries with 43.90% allocation to Canada and 37.70% to the US.
Sector-wise, TOCM allocates funds to multiple sectors with the top three being:
- Fixed Income (31.80%)
- Technology (15.70%)
- Financial Services (11.40%)
Below are the annualized performance of TOCM from inception to March 31, 2023
- 1-year -1.79%
- 2-year 2.06%
- Since inception 4.19%
TD One-Click Aggressive ETF Portfolio (TOCA) Review
| ETF name | TD One-Click Aggressive ETF Portfolio |
| Ticker | TOCA |
| Inception date | August 11, 2020 |
| Portfolio advisor | TD Asset Management Inc |
| Exchange | Toronto Stock Exchange (TSX) |
| Category | Global Equity |
| Benchmark asset mix | 10% FTSE Canada Universe Bond Index 30% – Solactive Canada Broad Market Index (CA NTR) 40% Solactive US Large Cap CAD Index (CA NTR) 20% Solactive GBS Developed Markets ex North America Large & Mid Cap CAD Index (CA NTR) |
| Total assets | $28.26 million |
| # of holdings | 10 |
| Annualized return since inception | 8.33% |
| Last dividend yield | 0.14% |
| Distribution frequency | Monthly |
| Max. management fee | 0.25% |
| MER | 0.28% |
| Risk rating | Low to medium |
That brings us to the last (not least) TD One-Click trio ETFs —TD One-Click Aggressive ETF Portfolio (TOCA).
This ETF provides exposure to global equity in order to generate long-term capital growth and a modest income.
To achieve its investment objective, TOCA invests in global equity and fixed income securities through TD ETFs. The target asset allocation of the ETF is 90% equities and 10% fixed income.
However, the following were the actual asset allocation of the ETF as of the time of writing:
| Asset | Allocation |
| US Equity | 42.90% |
| Canadian Equity | 28.60% |
| International Equity | 21.70% |
| Foreign Bonds | 4.70% |
| Income Trust Units | 0.70% |
| Cash and Equivalents | 0.60% |
| Other | 0.90% |
Below are the top ten ETFs that TOCA invests in with their varying allocations.
| Holding | Allocation |
| TD U.S. Equity Index ETF (TPU) | 23.21% |
| TD Canadian Equity Index ETF (TTP) | 21.14% |
| TD Global Technology Leaders Index ETF (TEC) | 14.10% |
| TD International Equity Index ETF (TPE) | 11.88% |
| TD Q Canadian Low Volatility ETF (TCLV) | 7.80% |
| TD Q Global Dividend ETF (TQGD) | 7.65% |
| TD Q Global Multifactor ETF (TQGM) | 7.50% |
| TD U.S. Long Term Treasury Bond ETF (TULB) | 4.65% |
| TD Q U.S. Small-Mid-Cap Equity ETF (TQSM) | 1.65% |
| Cash and Cash Equivalents | 0.42% |
TOCA invests across different countries with 47.60% allocation to the US and 29.60% to Canada.
Similarly, the ETF distributes funds across different sectors with a 21.30% allocation to Technology, 16.40% to Financial Services, and 8.50% to Consumer Services.
As per returns, TOCA has provided the following from inception to March 31, 2023:
- 1-year -1.52%
- 2-year 4.82%
- Since inception 8.33%
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