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Opinions Larry Berman CFA, CMT, CTA
Vanguard Conservative ETF PortfolioVCNS.TOCOMMENTOct 01, 2018
Larry Berman CFA, CMT, CTAStock price when the opinion was issued
As of Jun 19, 2026. Market Open.
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Once stop portfolio (ETF composed of ETFs).
Conservative composure (60% fixed income, 40% equity).
2022 hard on the traditional 60/40 portfolio - but will improve.
Good for defensive investors (40% of equity exposure).
Daniel Straus
VGRO-T vs. VBAL-T vs. VCNS-T. Would the three be enough for a retirement portfolio? VGRO-T is 80% equity, 20% bonds; VBAL-T is 60% equity, 40% bonds; and VCNS-T is 40% equity, 60% bonds. Don't hold them together. They hold the same thing at different proportions and equate to VBAL-T if all held equally. Move between them as market conditions dictate.
A conservative balanced portfolio. Until you have a full year of dividends, it is hard to know what the full dividend payout is going to be over a year, It will be the trailing yield that is published with the ETF. You are getting diversified exposure, globally. Don’t look at the dividend yield. Try annualizing the last quarterly distribution over a year.
The market loves these as they represent a one-stop ETF for market diversification. It is a balanced portfolio that holds 60% fixed income and 40% stocks. The stocks will be globally diversified as is the fixed income portion. It is an ETF of ETFs. It depends if this portfolio split fits your needs. The MER is approximately 0.25% -- incredibly low for a balanced fund even against the Robo-portfolio offerings.
VGRO-T vs. VBAL-T vs. VCNS-T. They are the total solution portfolios. If you hold all of them your blended portfolio is the same as VBAL-T, (60/40). VCNS-T gives you much more protection from the equity markets. VGRO-T is for when you don't need protection.