Toronto-based Vanguard Investments Canada Inc. announced Tuesday that it has launched two new low-cost asset allocation ETFs, which have begun trading on the TSX.

The Vanguard Conservative Income ETF Portfolio (VCIP) seeks to provide a combination of income and some long-term capital growth. It invests in 20% equities and 80% fixed income, made up of seven underlying Vanguard index ETFs.

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The Vanguard All-Equity ETF Portfolio (VEQT) seeks to provide long-term capital growth by investing primarily in equity securities with a strategic allocation of 100% equities, made up of four underlying Vanguard index ETFs.

“Canadian investors have embraced our ‘all-in-one’ asset allocation ETFs based on their sound portfolio construction, low cost and simplicity,” said Tim Huver, Vanguard Investments Canada’s head of product, in a statement.

“These ETFs have been among our most popular over the past year and we are committed to giving Canadians greater flexibility by offering two new investing options on both sides of the risk profile spectrum.”

Vanguard launched three asset allocation ETFs in Canada last year, which have attracted more than $1 billion in investments, the firm said.

The portfolios are automatically rebalanced, with a 0.22% management fee.