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Hamilton U.S. T-Bill YIELD MAXIMIZER ETF (CAD Hedged) (HBIL.TO) Diversifiers

ETF · Currency in CAD · Last updated Jun 25, 2026

HBIL aims to deliver attractive monthly income by investing primarily in shorter-term U.S. Treasury securities and employs a covered call option writing program to supplement income, mitigate risk, and reduce volatility.

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

Best Diversifiers for HBIL.TO

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

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
ENCL.TO
Global X Enhanced Canadian Oil and Gas Equity Cove...-0.24——
77
Energy Equities, Derivative IncomeHBIL.TO vs ENCL.TO
EMAX.TO
Hamilton Energy YIELD MAXIMIZER ETF-0.24——
53
Energy Equities, Derivative IncomeHBIL.TO vs EMAX.TO
ENCC.TO
Global X Canadian Oil and Gas Equity Covered Call ...-0.24——
78
Derivative Income, Energy EquitiesHBIL.TO vs ENCC.TO
HSAV.TO
Global X Cash Maximizer Corporate Class ETF-0.02——
67
Money MarketHBIL.TO vs HSAV.TO
UTES.TO
Evolve Canadian Utilities Enhanced Yield Index Fun...0.01——
88
Derivative IncomeHBIL.TO vs UTES.TO
See all 50 diversifiers for HBIL.TO

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Low-Correlation Stock Ideas

If you're looking for individual stocks that move independently from HBIL.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to HBIL.TO and solid risk/return profiles. The least correlated is Enbridge Inc. (ENB.TO) (Energy) with a 1Y correlation of -0.06, down from 0.08 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankSector
ENB.TO
Enbridge Inc.-0.060.080.08
89
Energy
MFI.TO
Maple Leaf Foods Inc.0.060.090.09
55
Consumer Defensive
MFC.TO
Manulife Financial Corporation0.16——
84
Financial Services
AGI.TO
Alamos Gold Inc.0.170.120.12
55
Basic Materials

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Diversification Analysis

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