XBAL与XEQt + 债券型etf的比较

I’m looking for thoughts/pros/cons on putting it all into XBAL which I believe provides this ratio, vs putting the 60% into $ISHARES CORE EQUITY ETF PORTFOLIO UNITS CAD (XEQT.CA)$ + $VANGUARD S&P 500 INDEX ETF TR UNIT (VFV.CA)$ and the remaining 40% into a bonds ETF. I’m leaning towards the latter as if the market dips, he can hold onto the stocks portion and withdraw from bonds, and vice versa if it grows. Am I overlooking or misunderstanding something?