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Mulvihill Canadian Bank Enhanced Yield ETF (CBNK.TO) Diversifiers

ETF · Currency in CAD · Last updated Jun 24, 2026

The Mulvihill Canadian Bank Enhanced Yield ETF provides exposure to Canada's Big Six banks (Royal Bank, TD, BMO, Scotiabank, CIBC, and National Bank). The fund applies modest leverage of approximately 25% to enhance dividend yields and overlays an active covered call writing strategy to generate additional premium income, targeting a 7% annual distribution yield paid monthly.

Looking to diversify beyond CBNK.TO? The ETFs below have the lowest correlation with CBNK.TO — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from CBNK.TO.

Best Diversifiers for CBNK.TO

11 ETFs have low correlation with CBNK.TO (below 0.3), 4 of which are negatively correlated. The least correlated is Global X Canadian Oil and Gas Equity Covered Call ETF (ENCC.TO) (Derivative Income) with a 1Y correlation of -0.10, down from 0.27 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
ENCC.TO
Global X Canadian Oil and Gas Equity Covered Call ...-0.100.200.27
77
Derivative Income, Energy EquitiesCBNK.TO vs ENCC.TO
ENCL.TO
Global X Enhanced Canadian Oil and Gas Equity Cove...-0.100.180.18
76
Energy Equities, Derivative IncomeCBNK.TO vs ENCL.TO
EMAX.TO
Hamilton Energy YIELD MAXIMIZER ETF-0.080.120.12
51
Energy Equities, Derivative IncomeCBNK.TO vs EMAX.TO
UTES.TO
Evolve Canadian Utilities Enhanced Yield Index Fun...-0.04——
86
Derivative IncomeCBNK.TO vs UTES.TO
ZWU.TO
BMO Covered Call Utilities ETF0.050.350.38
75
Utilities Equities, Derivative IncomeCBNK.TO vs ZWU.TO
See all 54 diversifiers for CBNK.TO

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Diversification Analysis

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