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Hamilton Enhanced Canadian Financials ETF (HFIN.TO) Diversifiers

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

HFIN seeks to replicate 1.25 times the performance of the Solactive Canadian Financials Equal-Weight Index, comprising equal-weightings of Canada's top 12 financial services companies, using modest 25% cash leverage to enhance growth potential and yield.

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

Best Diversifiers for HFIN.TO

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

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
ENCL.TO
Global X Enhanced Canadian Oil and Gas Equity Cove...-0.13——
85
Oil & Gas, Derivative IncomeHFIN.TO vs ENCL.TO
HUTE.TO
Harvest Equal Weight Global Utilities Enhanced Inc...0.240.30—
58
Derivative Income, Utilities EquitiesHFIN.TO vs HUTE.TO
HXF.TO
Global X S&P/TSX Capped Financials Index Corporate...0.320.42—
91
Financials EquitiesHFIN.TO vs HXF.TO
QQQT.TO
Evolve NASDAQ Technology Index Fund CAD Hedged0.40——
82
Nasdaq-100, Technology EquitiesHFIN.TO vs QQQT.TO
FXM.TO
CI Morningstar Canada Value Index ETF0.410.54—
95
Canada EquitiesHFIN.TO vs FXM.TO
See all 26 diversifiers for HFIN.TO

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Low-Correlation Stock Ideas

If you're looking for individual stocks that move independently from HFIN.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to HFIN.TO and solid risk/return profiles. The least correlated is Bank of Montreal (BMO.TO) (Financial Services) with a 1Y correlation of 0.66, roughly unchanged from 0.72 over 3 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankSector
BMO.TO
Bank of Montreal0.660.72—
95
Financial Services
BN.TO
Brookfield Corporation0.690.73—
55
Financial Services
TD.TO
The Toronto-Dominion Bank0.700.64—
98
Financial Services
RY.TO
Royal Bank of Canada0.740.76—
97
Financial Services

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Diversification Analysis

Build a portfolio that complements HFIN.TO

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Analyze a portfolio with HFIN.TO