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Global X Europe 50 Index Corporate Class ETF (HXX.TO) Diversifiers

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

HXX seeks to replicate the performance of the Solactive Europe 50 Rolling Futures Index (Total Return), which measures the performance of 50 of the largest sector-leading companies in the Eurozone, providing investors with exposure to major European stocks and diversification benefits.

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

Best Diversifiers for HXX.TO

3 ETFs have low correlation with HXX.TO (below 0.3), 2 of which are negatively correlated. The least correlated is Global X 0-3 Month T-Bill ETF (CBIL.TO) (Canadian Government Bonds) with a 1Y correlation of -0.03, roughly unchanged from -0.00 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
CBIL.TO
Global X 0-3 Month T-Bill ETF-0.030.00-0.00
99
Canadian Government BondsHXX.TO vs CBIL.TO
CASH.TO
Global X High Interest Savings ETF-0.02-0.01-0.01
100
Money MarketHXX.TO vs CASH.TO
HSAV.TO
Global X Cash Maximizer Corporate Class ETF0.120.070.04
69
Bank LoanHXX.TO vs HSAV.TO
XIC.TO
iShares Core S&P/TSX Capped Composite Index ETF0.510.510.55
85
Canada EquitiesHXX.TO vs XIC.TO
HBNK.TO
Global X Equal Weight Banks Index ETF0.52——
96
Financials EquitiesHXX.TO vs HBNK.TO
See all 20 diversifiers for HXX.TO

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Low-Correlation Stock Ideas

If you're looking for individual stocks that move independently from HXX.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to HXX.TO and solid risk/return profiles. The least correlated is Sun Life Financial Inc. (SLF.TO) (Financial Services) with a 1Y correlation of 0.25, down from 0.41 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankSector
SLF.TO
Sun Life Financial Inc.0.250.340.41
67
Financial Services

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Diversification Analysis

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