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Hamilton U.S. Bond YIELD MAXIMIZER ETF (CAD Hedged) (HBND.TO) Diversifiers

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

The investment objective of HBND is to deliver attractive monthly income by primarily investing in U.S. treasuries through bond ETFs and employing a covered call option writing program to supplement income, mitigate risk, and reduce volatility.

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

Best Diversifiers for HBND.TO

10 ETFs have low correlation with HBND.TO (below 0.3), 1 of which are negatively correlated.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
CBIL.TO
Global X 0-3 Month T-Bill ETF-0.06——
99
Canadian Government BondsHBND.TO vs CBIL.TO
ZMMK.TO
BMO Money Market Fund ETF Series0.06——
100
Money MarketHBND.TO vs ZMMK.TO
QMAX.TO
Hamilton Technology YIELD MAXIMIZER ETF0.13——
52
Technology Equities, Derivative IncomeHBND.TO vs QMAX.TO
HXS.TO
Global X S&P 500 Index Corporate Class ETF0.14——
71
S&P 500HBND.TO vs HXS.TO
HDIV.TO
Hamilton Enhanced Canadian Covered Call ETF0.16——
92
Derivative IncomeHBND.TO vs HDIV.TO
See all 11 diversifiers for HBND.TO

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Low-Correlation Stock Ideas

If you're looking for individual stocks that move independently from HBND.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to HBND.TO and solid risk/return profiles.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankSector
CPX.TO
Capital Power Corporation0.02——
68
Utilities
EMA.TO
Emera Incorporated0.02——
79
Utilities
ENB.TO
Enbridge Inc.0.04——
81
Energy
BCE.TO
BCE Inc.0.05——
69
Communication Services
POW.TO
Power Corporation of Canada0.12——
94
Financial Services
See all 10 low-correlation stocks for HBND.TO

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Diversification Analysis

Build a portfolio that complements HBND.TO

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

Analyze a portfolio with HBND.TO