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iShares Japan Fundamental Index ETF (CAD-Hedged) (CJP.NEO) Diversifiers

ETF · Currency in CAD · Last updated Jul 4, 2026

CJP.NEO is a passive ETF by iShares tracking the investment results of the FTSE RAFI Japan Canadian Dollar Hedged Index. CJP.NEO launched on Feb 14, 2007 and has a 0.71% expense ratio.

Looking to diversify beyond CJP.NEO? The ETFs below have the lowest correlation with CJP.NEO — 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 CJP.NEO.

Best Diversifiers for CJP.NEO

2 ETFs have low correlation with CJP.NEO (below 0.3), 0 of which are negatively correlated. The least correlated is iShares S&P/TSX Capped Energy Index ETF (XEG.TO) (Energy Equities) with a 1Y correlation of 0.06, down from 0.25 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
XEG.TO
iShares S&P/TSX Capped Energy Index ETF0.060.190.25
67
Energy Equities, Canada EquitiesCJP.NEO vs XEG.TO
XEI.TO
iShares S&P/TSX Composite High Dividend Index ETF0.260.360.41
98
Canada EquitiesCJP.NEO vs XEI.TO
XDIV.TO
iShares Core MSCI Canadian Quality Dividend Index ...0.310.360.40
98
Dividend, Large Cap Value EquitiesCJP.NEO vs XDIV.TO
VDY.TO
Vanguard FTSE Canadian High Dividend Yield Index E...0.380.410.45
98
DividendCJP.NEO vs VDY.TO
CEW.TO
iShares Equal Weight Banc & Lifeco ETF0.380.410.44
97
Financials Equities, Equal WeightCJP.NEO vs CEW.TO
See all 27 diversifiers for CJP.NEO

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Low-Correlation Stock Ideas

If you're looking for individual stocks that move independently from CJP.NEO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to CJP.NEO and solid risk/return profiles. The least correlated is AGF Management Ltd (AGF-B.TO) (Financial Services) with a 1Y correlation of 0.33, roughly unchanged from 0.29 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankSector
AGF-B.TO
AGF Management Ltd0.330.280.29
87
Financial Services

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Diversification Analysis

Build a portfolio that complements CJP.NEO

Add CJP.NEO to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.

Analyze a portfolio with CJP.NEO