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CI U.S. & Canada Lifeco Covered Call ETF (Hedged Common Units) (FLI.TO) Diversifiers

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

The CI U.S. & Canada Lifeco Covered Call ETF (FLI) is a Toronto-listed ETF from CI Global Asset Management that invests in common shares of the ten largest U.S. and Canadian life insurance companies by market capitalization. The fund writes covered call options on a portion of its holdings to generate additional income and reduce overall portfolio volatility, aiming to provide quarterly cash distributions and the opportunity for capital appreciation. The hedged common units hedge U.S. dollar currency exposure back to Canadian dollars.

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

Best Diversifiers for FLI.TO

13 ETFs have low correlation with FLI.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 -0.11, down from 0.33 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
ENCC.TO
Global X Canadian Oil and Gas Equity Covered Call ...-0.110.180.33
85
Derivative Income, Energy EquitiesFLI.TO vs ENCC.TO
NXF.TO
CI Energy Giants Covered Call ETF Common Units (CA...-0.110.180.36
73
Energy Equities, Derivative IncomeFLI.TO vs NXF.TO
ENCL.TO
Global X Enhanced Canadian Oil and Gas Equity Cove...-0.10——
85
Oil & Gas, Derivative IncomeFLI.TO vs ENCL.TO
EMAX.TO
Hamilton Energy YIELD MAXIMIZER ETF-0.02——
70
Energy Equities, Derivative IncomeFLI.TO vs EMAX.TO
ZWU.TO
BMO Covered Call Utilities ETF0.070.260.35
58
Utilities Equities, Derivative IncomeFLI.TO vs ZWU.TO
See all 26 diversifiers for FLI.TO

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Diversification Analysis

Build a portfolio that complements FLI.TO

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

Analyze a portfolio with FLI.TO