Well, it has been just over a year since life cycle funds burst onto the scene in Canada. Life cycle funds are essentially one decision balanced investment portfolios that begin with a strong growth bias, and become more conservative as they approach their maturity date, which is usually selected to match your retirement date.
Last year, we wrote that we really liked the concept and that with the history of success that these funds have had in the US and abroad, they would likely find favour in Canada. Indeed over a billion dollars has moved into these funds in the last year and more companies are offering them. Scotia and Fidelity are the market share leaders, with solid performance, and the much smaller funds offered by the Ethical family of funds have been surprise performers. The guaranteed funds offered by Clarington have been the performance laggards, but if you want a guarantee, you would expect to pay a little more for that!
Life cycle funds are now offered by half a dozen fund companies. Here is a list of performance. Please note that any of these funds can be held in your ScotiaMcLeod account, and many are available for Pre Authorized Contribution plans, and/or with no loads. Please contact us for details and recommendations for your situation.
Mutual Fund | Fund | 1 | 2 | 3 | Risk * | Min | MER |
| BMO LifeStage Plus 2015 | 2015TargetDate | 8.81 | 6.82 | 6.58 | 3.62 | na | 1.44 |
| Mac Destination+ 2015 | 2015TargetDate | 6.37 | 5.58 | 6.88 | 3.34 | na | 1.41 |
| RBC Target 2015 Education | 2015TargetDate | 3.13 | 4.50 | 6.48 | 3.92 | 1,000 | 1.63 |
| Fidelity ClearPath 2015 Port Series B | 2015TargetDate | 0.25 | 4.36 | 8.01 | 5.96 | 500 | 2.07 |
| Fidelity ClearPath 2015 Port Series A | 2015TargetDate | 0.06 | 4.15 | 7.80 | 5.95 | 500 | 2.26 |
| Scotia Vision Cnsrv 2015 Portfolio | 2015TargetDate | -0.50 | 2.99 | 6.03 | 6.00 | 2,500 | 2.08 |
| IA Clarington Target Click 2015 | 2015TargetDate | 3.56 | 2.72 | 2.28 | 3.32 | 500 | 2.21 |
| Scotia Vision Aggressive 2015 Portfolio | 2015TargetDate | -2.41 | 2.37 | 6.61 | 7.19 | 2,500 | 2.32 |
| BMO LifeStage Plus 2020 | 2020TargetDate | 15.05 | 11.41 | 8.74 | 5.61 | na | 1.44 |
| Mac Destination+ 2020 | 2020TargetDate | 12.13 | 10.57 | 8.23 | 5.98 | na | 1.41 |
| BMO Guardian LifeStage Plus 2020 Adv Sr | 2020TargetDate | 10.77 | 9.32 | 7.37 | 4.73 | na | 1.39 |
| Mac Destination+ 2017 | 2020TargetDate | 10.22 | 8.89 | 6.84 | 4.65 | na | 1.43 |
| IA Clarington Target Click 2020 | 2020TargetDate | 5.54 | 5.46 | 5.83 | 5.23 | 500 | 2.65 |
| BMO LifeStage Plus 2017 | 2020TargetDate | 2.14 | 4.91 | 6.86 | 6.63 | na | 2.49 |
| Fidelity ClearPath 2020 Port Series B | 2020TargetDate | 0.13 | 4.79 | 9.48 | 7.39 | 500 | 2.13 |
| Fidelity ClearPath 2020 Port Series A | 2020TargetDate | -0.06 | 4.58 | 9.26 | 7.38 | 500 | 2.33 |
| Fidelity Income Replacement 2019 Pt Sr B | 2020TargetDate | 0.48 | 3.83 | 8.26 | 5.21 | na | 2.09 |
| BMO Guardian LifeStage Plus 2017 Adv Sr | 2020TargetDate | 0.04 | 3.82 | 6.12 | 6.41 | na | 2.41 |
| Fidelity Income Replacement 2017 Pt Sr B | 2020TargetDate | 1.26 | 3.78 | 7.60 | 4.44 | na | 2.08 |
| Fidelity Income Replacement 2019 Pt Sr A | 2020TargetDate | 0.28 | 3.61 | 8.02 | 5.22 | na | 2.29 |
| Fidelity Income Replacement 2017 Pt Sr A | 2020TargetDate | 1.01 | 3.55 | 7.36 | 4.44 | na | 2.30 |
| BMO Guardian LifeStage 2017 Cl Adv Ser | 2020TargetDate | -1.86 | 3.42 | na | na | na | 2.15 |
| RBC Target 2020 Education | 2020TargetDate | -0.68 | 3.20 | 6.43 | 6.70 | 1,000 | 1.84 |
| BMO Guardian LifeStage 2020 Cl Adv Ser | 2020TargetDate | -3.60 | 2.55 | na | na | na | 2.20 |
| Scotia Vision Cnsrv 2020 Portfolio | 2020TargetDate | -2.09 | 2.42 | 6.19 | 6.76 | 2,500 | 2.20 |
| Scotia Vision Aggressive 2020 Portfolio | 2020TargetDate | -4.33 | 1.76 | 6.73 | 8.40 | 2,500 | 2.37 |
| DynamicEdge 2020 Portfolio Series T | 2020TargetDate | -2.88 | na | na | na | na | 2.32 |
| DynamicEdge 2020 Class Portfolio Sr T | 2020TargetDate | -2.41 | na | na | na | na | 2.32 |
| DynamicEdge 2020 Portfolio Series A | 2020TargetDate | -2.77 | na | na | na | na | 2.29 |
| DynamicEdge 2020 Class Portfolio Sr A | 2020TargetDate | -2.18 | na | na | na | na | 2.26 |
| Invesco Intactive 2028 Portfolio | 2025+TargetDate | 0.69 | 5.15 | 10.17 | 7.80 | na | 2.23 |
| Invesco Intactive 2033 Portfolio | 2025+TargetDate | -0.13 | 5.12 | 10.31 | 9.05 | na | 2.22 |
| Invesco Intactive 2038 Portfolio | 2025+TargetDate | -1.01 | 4.96 | 11.31 | 10.26 | na | 2.22 |
| Fidelity ClearPath 2030 Port Series B | 2025+TargetDate | -2.11 | 4.44 | 10.42 | 9.58 | 500 | 2.19 |
| Fidelity ClearPath 2030 Port Series A | 2025+TargetDate | -2.31 | 4.23 | 10.21 | 9.58 | 500 | 2.39 |
| Fidelity ClearPath 2035 Port Series B | 2025+TargetDate | -3.52 | 4.11 | 10.59 | 10.53 | 500 | 2.21 |
| Fidelity ClearPath 2040 Port Series B | 2025+TargetDate | -3.75 | 4.04 | 10.81 | 10.90 | 500 | 2.26 |
| IA Clarington Target Click 2030 Sr A | 2025+TargetDate | 2.79 | 3.99 | 7.19 | 8.97 | na | 2.97 |
| Fidelity ClearPath 2045 Port Series B | 2025+TargetDate | -4.13 | 3.98 | 10.87 | 11.14 | 500 | 2.25 |
| Fidelity ClearPath 2035 Port Series A | 2025+TargetDate | -3.71 | 3.89 | 10.36 | 10.53 | 500 | 2.41 |
| Fidelity Income Replacement 2027 Pt Sr B | 2025+TargetDate | -1.03 | 3.87 | 9.35 | 6.79 | na | 2.14 |
| Fidelity Income Replacement 2033 Pt Sr B | 2025+TargetDate | -1.70 | 3.87 | 9.72 | 7.44 | na | 2.28 |
| Fidelity ClearPath 2040 Port Series A | 2025+TargetDate | -3.95 | 3.83 | 10.59 | 10.89 | 500 | 2.45 |
| Fidelity Income Replacement 2035 Pt Sr B | 2025+TargetDate | -1.77 | 3.80 | 9.88 | 7.65 | na | 2.16 |
| Fidelity Income Replacement 2037 Pt Sr B | 2025+TargetDate | -1.95 | 3.77 | 10.05 | 7.95 | na | 2.19 |
| Fidelity Income Replacement 2031 Pt Sr B | 2025+TargetDate | -1.47 | 3.77 | 9.54 | 7.23 | na | 2.21 |
| Fidelity Income Replacement 2029 Pt Sr B | 2025+TargetDate | -1.29 | 3.76 | 9.38 | 7.00 | na | 2.26 |
| Fidelity ClearPath 2045 Port Series A | 2025+TargetDate | -4.34 | 3.75 | 10.63 | 11.14 | 500 | 2.47 |
| Fidelity Income Replacement 2027 Pt Sr A | 2025+TargetDate | -1.22 | 3.67 | 9.14 | 6.79 | na | 2.29 |
| Fidelity Income Replacement 2033 Pt Sr A | 2025+TargetDate | -1.90 | 3.63 | 9.49 | 7.44 | na | 2.47 |
| Fidelity Income Replacement 2031 Pt Sr A | 2025+TargetDate | -1.69 | 3.56 | 9.31 | 7.23 | na | 2.41 |
| Fidelity Income Replacement 2029 Pt Sr A | 2025+TargetDate | -1.49 | 3.53 | 9.15 | 7.00 | na | 2.44 |
| Fidelity Income Replacement 2035 Pt Sr A | 2025+TargetDate | -2.04 | 3.52 | 9.61 | 7.65 | na | 2.47 |
| Fidelity Income Replacement 2037 Pt Sr A | 2025+TargetDate | -2.21 | 3.51 | 9.80 | 7.95 | na | 2.42 |
| BMO Guardian LifeStage Plus 2026 Adv Sr | 2025+TargetDate | -0.64 | 2.97 | na | na | na | 2.65 |
| BMO LifeStage Plus 2026 | 2025+TargetDate | -0.77 | 2.90 | na | na | na | 2.78 |
| BMO Guardian LifeStage 2030 Cl Adv Ser | 2025+TargetDate | -6.55 | 1.81 | na | na | na | 2.26 |
| BMO Guardian LifeStage 2035 Cl Adv Ser | 2025+TargetDate | -8.09 | 1.36 | na | na | na | 2.26 |
| Scotia Vision Cnsrv 2030 Portfolio | 2025+TargetDate | -5.31 | 1.25 | 6.77 | 9.02 | 2,500 | 2.51 |
| BMO Guardian LifeStage Plus 2030 Adv Sr | 2025+TargetDate | -3.86 | 1.02 | 4.04 | 10.44 | na | 2.81 |
| BMO LifeStage Plus 2030 | 2025+TargetDate | -3.92 | 0.99 | 4.02 | 10.44 | na | 2.88 |
| BMO Guardian LifeStage 2040 Cl Adv Ser | 2025+TargetDate | -8.80 | 0.91 | na | na | na | 2.31 |
| Scotia Vision Aggressive 2030 Portfolio | 2025+TargetDate | -7.64 | 0.27 | 7.04 | 10.62 | 2,500 | 2.68 |
| DynamicEdge 2030 Class Portfolio Sr A | 2025+TargetDate | -8.22 | na | na | na | na | 2.48 |
| DynamicEdge 2030 Portfolio Series T | 2025+TargetDate | -8.06 | na | na | na | na | 2.54 |
| DynamicEdge 2030 Portfolio Series A | 2025+TargetDate | -8.02 | na | na | na | na | 2.49 |
| DynamicEdge 2030 Class Portfolio Sr T | 2025+TargetDate | -8.18 | na | na | na | na | 0.17 |
| Mac Destination+ 2025 | 2025TargetDate | 19.36 | 15.92 | 12.47 | 8.51 | na | 1.41 |
| IA Clarington Target Click 2025 | 2025TargetDate | 6.81 | 7.12 | 7.52 | 5.86 | 500 | 2.67 |
| BMO LifeStage Plus 2025 | 2025TargetDate | 4.97 | 6.94 | 8.90 | 6.69 | na | 2.49 |
| BMO Guardian LifeStage Plus 2025 Adv Sr | 2025TargetDate | 4.41 | 6.65 | 8.71 | 6.61 | na | 2.46 |
| Invesco Intactive 2023 Portfolio | 2025TargetDate | 0.97 | 4.72 | 8.77 | 6.78 | na | 2.21 |
| Fidelity ClearPath 2025 Port Series B | 2025TargetDate | -1.36 | 4.56 | 9.69 | 8.34 | 500 | 2.13 |
| Fidelity ClearPath 2025 Port Series A | 2025TargetDate | -1.57 | 4.34 | 9.46 | 8.34 | 500 | 2.33 |
| Fidelity Income Replacement 2023 Pt Sr B | 2025TargetDate | -0.42 | 3.92 | 8.99 | 6.23 | na | 2.06 |
| Fidelity Income Replacement 2021 Pt Sr B | 2025TargetDate | 0.01 | 3.91 | 8.70 | 5.79 | na | 2.09 |
| Fidelity Income Replacement 2025 Pt Sr B | 2025TargetDate | -0.77 | 3.87 | 9.13 | 6.51 | na | 2.12 |
| BMO LifeStage Plus 2022 | 2025TargetDate | 0.25 | 3.82 | na | na | na | 2.66 |
| BMO Guardian LifeStage Plus 2022 Adv Sr | 2025TargetDate | 0.18 | 3.79 | na | na | na | 2.66 |
| Fidelity Income Replacement 2023 Pt Sr A | 2025TargetDate | -0.59 | 3.73 | 8.79 | 6.23 | na | 2.23 |
| Fidelity Income Replacement 2025 Pt Sr A | 2025TargetDate | -0.86 | 3.73 | 8.93 | 6.51 | na | 2.25 |
| Fidelity Income Replacement 2021 Pt Sr A | 2025TargetDate | -0.28 | 3.64 | 8.44 | 5.79 | na | 2.35 |
| RBC Target 2025 Education | 2025TargetDate | -2.27 | 2.56 | 6.40 | 7.90 | 1,000 | 1.94 |
| BMO Guardian LifeStage 2025 Cl Adv Ser | 2025TargetDate | -5.40 | 2.10 | na | na | na | 2.20 |
| DynamicEdge 2025 Class Portfolio Sr T | 2025TargetDate | -4.52 | na | na | na | na | 2.43 |
| DynamicEdge 2025 Class Portfolio Sr A | 2025TargetDate | -4.65 | na | na | na | na | 2.41 |
| DynamicEdge 2025 Portfolio Series T | 2025TargetDate | -5.26 | na | na | na | na | 2.26 |
| DynamicEdge 2025 Portfolio Series A | 2025TargetDate | -5.60 | na | na | na | na | 2.39 |
88 Funds Returned For Periods Ending: 12/31/2011
Click on a fund name for more information on that fund.
* Risk is the volatility of returns, see risk calculations.
T. 416.863.RRSP (7777)
1.800.387.9273
F. 416.863.7479
E. carl_spiess@scotiamcleod.com
allan_mcglade@scotiamcleod.com
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