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iShares Canadian Financial Monthly Income ETF (FIE.TO) Diversifiers

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

FIE.TO is a passive ETF by iShares tracking the investment results of the Morningstar Can Equity Tgt Alloc NR CAD. FIE.TO launched on Apr 16, 2010 and has a 0.85% expense ratio.

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

Best Diversifiers for FIE.TO

4 ETFs have low correlation with FIE.TO (below 0.3), 0 of which are negatively correlated.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
SPLT.TO
Brompton Split Corp. Preferred Share ETF0.12——
54
Preferred Stock/Convertible BondsFIE.TO vs SPLT.TO
XUT.TO
iShares S&P/TSX Capped Utilities Index ETF0.120.480.39
84
Utilities EquitiesFIE.TO vs XUT.TO
ZMMK.TO
BMO Money Market Fund ETF Series0.120.05—
100
Money MarketFIE.TO vs ZMMK.TO
SYLD.TO
Purpose Strategic Yield Fund0.300.220.22
95
FIE.TO vs SYLD.TO
XCS.TO
iShares S&P/TSX SmallCap Index ETF0.330.470.55
79
Canada EquitiesFIE.TO vs XCS.TO
See all 72 diversifiers for FIE.TO

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Low-Correlation Stock Ideas

If you're looking for individual stocks that move independently from FIE.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FIE.TO and solid risk/return profiles. The least correlated is Canadian Natural Resources Limited (CNQ.TO) (Energy) with a 1Y correlation of -0.19, down from 0.28 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankSector
CNQ.TO
Canadian Natural Resources Limited-0.190.120.28
86
Energy
GEI.TO
Gibson Energy Inc.-0.110.130.26
78
Energy
PPL.TO
Pembina Pipeline Corporation-0.090.240.34
83
Energy
FRU.TO
Freehold Royalties Ltd.-0.050.140.28
93
Energy
ENB.TO
Enbridge Inc.-0.020.260.37
81
Energy
See all 9 low-correlation stocks for FIE.TO

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Diversification Analysis

Build a portfolio that complements FIE.TO

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

Analyze a portfolio with FIE.TO