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iShares S&P/TSX Canadian Preferred Share Index ETF (CPD.TO) Diversifiers

ETF · Currency in CAD · Last updated Jun 5, 2026

CPD.TO is a passive ETF by iShares tracking the investment results of the S&P/TSX Preferred Share TR. CPD.TO launched on Apr 10, 2007 and has a 0.50% expense ratio.

Looking to diversify beyond CPD.TO? The ETFs below have the lowest correlation with CPD.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 CPD.TO.

Best Diversifiers for CPD.TO

27 ETFs have low correlation with CPD.TO (below 0.3), 2 of which are negatively correlated. The least correlated is iShares Premium Money Market ETF (CMR.TO) (Money Market) with a 1Y correlation of -0.07, roughly unchanged from -0.00 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
CMR.TO
iShares Premium Money Market ETF-0.070.00-0.00
99
Money MarketCPD.TO vs CMR.TO
SPLT.TO
Brompton Split Corp. Preferred Share ETF-0.01——
56
Preferred Stock/Convertible BondsCPD.TO vs SPLT.TO
CASH.TO
Global X High Interest Savings ETF0.010.04—
100
Money MarketCPD.TO vs CASH.TO
XEI.TO
iShares S&P/TSX Composite High Dividend Index ETF0.090.260.30
98
Canada EquitiesCPD.TO vs XEI.TO
PSA.TO
Purpose High Interest Savings Fund0.110.070.05
100
Money MarketCPD.TO vs PSA.TO
See all 34 diversifiers for CPD.TO

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Low-Correlation Stock Ideas

If you're looking for individual stocks that move independently from CPD.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to CPD.TO and solid risk/return profiles. The least correlated is Emera Incorporated (EMA.TO) (Utilities) with a 1Y correlation of 0.10, roughly unchanged from 0.08 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankSector
EMA.TO
Emera Incorporated0.100.110.08
83
Utilities
ATD.TO
Alimentation Couche-Tard Inc.0.190.140.13
57
Consumer Cyclical

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Diversification Analysis

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