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Harvest US Equity Leaders Income ETF Class A (CAD Hedged) (HBF.TO) Diversifiers

ETF · Currency in CAD · Last updated Jul 17, 2026

Harvest US Equity Leaders Income ETF (HBF) is an actively managed Canadian-listed ETF from Harvest Portfolios Group, formerly known as Harvest Brand Leaders Plus Income ETF. The fund holds an equally weighted portfolio of 20 large-cap U.S. brand-leader companies and overlays a covered call strategy on up to 33% of holdings to generate enhanced monthly income while reducing volatility. Class A units (HBF) trade on the Toronto Stock Exchange in Canadian dollars with currency hedging back to CAD.

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

Best Diversifiers for HBF.TO

9 ETFs have low correlation with HBF.TO (below 0.3), 4 of which are negatively correlated. The least correlated is BMO Covered Call Utilities ETF (ZWU.TO) (Utilities Equities) with a 1Y correlation of -0.08, down from 0.38 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
ZWU.TO
BMO Covered Call Utilities ETF-0.080.240.38
74
Utilities Equities, Derivative IncomeHBF.TO vs ZWU.TO
ENCL.TO
Global X Enhanced Canadian Oil and Gas Equity Cove...-0.04——
89
Energy Equities, Derivative IncomeHBF.TO vs ENCL.TO
ENCC.TO
Global X Canadian Oil and Gas Equity Covered Call ...-0.040.150.30
90
Derivative Income, Energy EquitiesHBF.TO vs ENCC.TO
HBIL-U.TO
Hamilton U.S. T-Bill YIELD MAXIMIZER ETF USD Unhed...-0.01——
86
Government Bonds, Derivative IncomeHBF.TO vs HBIL-U.TO
UMAX.TO
Hamilton Utilities YIELD MAXIMIZER ETF0.010.33—
80
Derivative Income, Utilities EquitiesHBF.TO vs UMAX.TO
See all 43 diversifiers for HBF.TO

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Diversification Analysis

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