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Global X U.S. Dollar Currency ETF (DLR.TO) Diversifiers

ETF · Currency in CAD · Last updated Jul 14, 2026

The Global X U.S. Dollar Currency ETF seeks to reflect the value of the U.S. dollar in Canadian dollar terms by investing primarily in cash and cash equivalents denominated in U.S. dollars.

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

Best Diversifiers for DLR.TO

13 ETFs have low correlation with DLR.TO (below 0.3), 6 of which are negatively correlated. The least correlated is Invesco NASDAQ 100 Index ETF CAD Hedged (QQC-F.TO) (Nasdaq-100) with a 1Y correlation of -0.22, up from -0.37 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
QQC-F.TO
Invesco NASDAQ 100 Index ETF CAD Hedged-0.22-0.25-0.37
51
Nasdaq-100DLR.TO vs QQC-F.TO
HXT.TO
Global X S&P/TSX 60 Index Corporate Class ETF-0.20-0.30-0.43
92
Canada EquitiesDLR.TO vs HXT.TO
HBNK.TO
Global X Equal Weight Banks Index ETF-0.17-0.25—
98
Financials Equities, Equal WeightDLR.TO vs HBNK.TO
VI.TO
Vanguard FTSE Developed All Cap ex North America I...-0.16-0.26-0.38
80
International EquityDLR.TO vs VI.TO
CASH.TO
Global X High Interest Savings ETF-0.080.04—
100
Money MarketDLR.TO vs CASH.TO
See all 13 diversifiers for DLR.TO

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Low-Correlation Stock Ideas

If you're looking for individual stocks that move independently from DLR.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to DLR.TO and solid risk/return profiles. The least correlated is Royal Bank of Canada (RY.TO) (Financial Services) with a 1Y correlation of -0.14, up from -0.31 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankSector
RY.TO
Royal Bank of Canada-0.14-0.22-0.31
99
Financial Services
BBD-B.TO
Bombardier Inc-0.10-0.19-0.25
93
Industrials
ATD.TO
Alimentation Couche-Tard Inc.-0.04-0.10-0.14
83
Consumer Cyclical
CSH-UN.TO
Chartwell Retirement Residences0.05-0.09-0.18
82
Real Estate

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Diversification Analysis

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Analyze a portfolio with DLR.TO