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Horizons All-Equity Asset Allocation ETF (HEQT.TO) Diversifiers

ETF · Currency in CAD · Last updated Jun 5, 2026

The ETF aims to achieve long-term capital growth through investments in globally diversified equity securities via exchange-traded funds.

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

Best Diversifiers for HEQT.TO

3 ETFs have low correlation with HEQT.TO (below 0.3), 2 of which are negatively correlated.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
ENCL.TO
Global X Enhanced Canadian Oil and Gas Equity Cove...-0.11——
88
Oil & Gas, Derivative IncomeHEQT.TO vs ENCL.TO
UTES.TO
Evolve Canadian Utilities Enhanced Yield Index Fun...-0.09——
82
Derivative IncomeHEQT.TO vs UTES.TO
TTTX.TO
Global X Innovative Bluechip Top 10 Index ETF0.05——
75
Global EquitiesHEQT.TO vs TTTX.TO
PINC.TO
Purpose Multi-Asset Income Fund0.320.330.38
94
HEQT.TO vs PINC.TO
HCON.TO
Global X Conservative Asset Allocation ETF0.400.400.53
62
Global AllocationHEQT.TO vs HCON.TO
See all 60 diversifiers for HEQT.TO

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Low-Correlation Stock Ideas

If you're looking for individual stocks that move independently from HEQT.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to HEQT.TO and solid risk/return profiles. The least correlated is Loblaw Companies Limited (L.TO) (Consumer Defensive) with a 1Y correlation of -0.01, down from 0.15 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankSector
L.TO
Loblaw Companies Limited-0.010.180.15
59
Consumer Defensive
LUG.TO
Lundin Gold Inc.0.340.220.23
59
Basic Materials
K.TO
Kinross Gold Corporation0.360.280.28
82
Basic Materials
CLS.TO
Celestica Inc.0.410.490.51
94
Technology
CCO.TO
Cameco Corporation0.440.410.42
84
Energy
See all 7 low-correlation stocks for HEQT.TO

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Diversification Analysis

Build a portfolio that complements HEQT.TO

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

Analyze a portfolio with HEQT.TO