GGRO ETF: ESG 80/20 growth portfolio holdings

Short answer: GGRO is iShares’ 80/20 stock-bond ESG-screened portfolio ETF. Listed in September 2020, 0.24% MER, 18.8% three-year annualized return through May 2026. Same wrapper as GEQT and XGRO, just with the ESG screen applied.

GGRO is the growth-allocation rung on iShares’ ESG portfolio ladder. Stock-bond mix is roughly 80/20, with the same ESG screening overlay applied to the equity components.

Not financial advice. Fund details change. Check current disclosures.

What GGRO actually is

GGRO is a TSX-listed ETF managed by iShares Canada. Fund-of-funds structure: it holds underlying iShares ESG-screened index ETFs for equities, plus standard bond index ETFs for the fixed-income sleeve.

GGRO fund facts
Attribute	Value
Ticker	GGRO (TSX)
Inception	September 2, 2020
Asset mix	about 80/20 stocks/bonds, ESG-screened equity
MER	0.24%
Currency	CAD
Net assets	about $241.2M (May 2026)
3-year annualized return	18.8% (through May 19, 2026)

What GGRO holds

GGRO asset allocation

U.S. equity 39.1%

Canadian equity 22.9%

International equity 19.6%

Fixed income 17.2%

Cash 1.2%

Source: Morningstar Direct, data as of May 19, 2026, via The Globe and Mail.

The fee

Fee drag calculator

How much GGRO's MER costs vs XGRO over time

Starting balance Annual contribution Years Gross return %

Extra cost from GGRO

That's what you pay GGRO (0.24%) over 20 years above what XGRO (0.2%) would charge on the same portfolio.

GGRO total fees

XGRO total fees

Peer comparison: XGRO, iShares Core Growth ETF Portfolio, the non-ESG sibling. Assumes constant gross return, annual contributions made at year-end, and MER charged on average annual balance. Real returns vary.

For illustration only. Simplified compounding. Ignores trading costs, tracking error, distribution reinvestment timing, taxes, and the obvious fact that real returns are not constant. MERs and peer fees as of May 2026 and may change. Do not use this number as the basis for a real decision.

4 basis points above XGRO for the ESG overlay. Reasonable premium.

Tax treatment

Tax treatment for Canadian investors

Distribution frequency: Quarterly
What distributions are made of: Mix of Canadian dividends, foreign income, bond interest, and modest capital gains
Tax mix closely tracks XGRO's
In a registered account: In a TFSA, RRSP, FHSA, or other registered account, all distributions are sheltered. Most natural placement for an 80/20 wrapper.
In a non-registered account: Bond interest plus foreign income makes 80/20 wrappers among the least tax-efficient placements in a non-registered account.

General guidance, not tax advice. Distribution composition shifts year to year, and edge cases (currency-hedged wrappers, fund-of-funds structures, the U.S.-Canada treaty's reach inside an RRSP) can change the picture. Confirm with the issuer's current T3 disclosures and a tax professional before acting.

How GGRO compares to alternatives

GGRO vs XGRO. Same 80/20 structure, GGRO adds the ESG screen for 4 bps. If ESG matters, the premium is fair.
GGRO vs the rest of the iShares ESG ladder. Pick the rung based on risk tolerance. GGRO is 80/20 growth-tilted, GBAL is 60/40 balanced, GCNS is 40/60 conservative.

Frequently asked questions

What is GGRO.TO?

GGRO is iShares ESG Growth ETF Portfolio. It is a one-ticker 80/20 stock-bond ETF with the equity components ESG-screened.

What is GGRO’s MER?

0.24%. 4 bps above XGRO.

What does GGRO hold?

GGRO holds a mix of iShares ESG-screened equity index ETFs and standard bond index ETFs. Equity is roughly 80% of the fund and is split across Canadian, U.S., international developed, and emerging markets.

Is the ESG screen on the bond side too?

No. The screen applies to the equity sleeve. The fixed-income sleeve uses standard iShares bond index components.

Can I hold GGRO in a TFSA?

Yes. TSX-listed, CAD-denominated, eligible in all standard Canadian registered accounts.

Should I pick GGRO over XGRO?

If ESG matters to you and 4 bps is acceptable, yes. If you have no strong ESG view, XGRO does the same structural job for less.

How does GGRO compare to VGRO?

VGRO is Vanguard’s 80/20 growth wrapper without an ESG screen. GGRO is iShares’ equivalent with the screen. Similar overall exposure, different issuer and screening overlay.

The honest verdict

Good fit for

DIY investors who want a one-ticker 80/20 portfolio with an ESG overlay, willing to pay a small premium over the non-ESG version.

Skip if

ESG is not a priority. XGRO does the same structural job for 4 bps less.

Cheaper alternative XGRO · iShares Core Growth ETF Portfolio · MER 0.20%

Bottom line

GGRO is a fair-priced, one-ticker, ESG-screened 80/20 wrapper for the DIY investor who wants the screen without sacrificing diversification or simplicity. The premium to XGRO is minor; the structural exposure is otherwise the same.

GGRO ETF: what iShares ESG Growth ETF Portfolio is, what it holds, and how it works