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Global X Enhanced All-Equity Asset Allocation ETF CAD (HEQL.TO) Diversifiers

ETF · Currency in CAD · Last updated Jun 26, 2026

HEQL seeks to provide enhanced long-term capital growth by investing in a globally diversified portfolio of equity ETFs with a target allocation of 100% equity and employing approximately 25% leverage to amplify growth potential.

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

Best Diversifiers for HEQL.TO

3 ETFs have low correlation with HEQL.TO (below 0.3), 1 of which are negatively correlated. The least correlated is Global X High Interest Savings ETF (CASH.TO) (Money Market) with a 1Y correlation of -0.01, roughly unchanged from -0.01 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
CASH.TO
Global X High Interest Savings ETF-0.01-0.01-0.01
99
Money MarketHEQL.TO vs CASH.TO
CBIL.TO
Global X 0-3 Month T-Bill ETF0.100.100.10
99
Canadian Government BondsHEQL.TO vs CBIL.TO
HSAV.TO
Global X Cash Maximizer Corporate Class ETF0.110.110.11
68
Money MarketHEQL.TO vs HSAV.TO
VDY.TO
Vanguard FTSE Canadian High Dividend Yield Index E...0.430.430.43
98
DividendHEQL.TO vs VDY.TO
QQQL.TO
Global X Enhanced Nasdaq-100 Index ETF0.570.570.57
77
Nasdaq-100, Leveraged EquitiesHEQL.TO vs QQQL.TO
See all 18 diversifiers for HEQL.TO

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Low-Correlation Stock Ideas

If you're looking for individual stocks that move independently from HEQL.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to HEQL.TO and solid risk/return profiles. The least correlated is Power Corporation of Canada (POW.TO) (Financial Services) with a 1Y correlation of 0.34, roughly unchanged from 0.34 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankSector
POW.TO
Power Corporation of Canada0.340.340.34
95
Financial Services

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Diversification Analysis

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