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NBI High Yield Bond ETF (NHYB.TO) Diversifiers

ETF · Currency in CAD · Last updated Jul 1, 2026

The NBI High Yield Bond ETF is an actively managed fund that invests primarily in high-yield corporate debt securities rated B- or higher across global developed markets. The fund employs a fundamental, bottom-up security selection process and is benchmarked against the ICE BofA US High Yield Constrained Index (CAD Hedged). Sub-advised by J.P. Morgan Investment Management and managed by National Bank Investments.

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

Best Diversifiers for NHYB.TO

1 ETFs have low correlation with NHYB.TO (below 0.3), 0 of which are negatively correlated. The least correlated is BMO High Yield US Corporate Bond Index ETF (ZJK.TO) (High Yield Bonds) with a 1Y correlation of 0.12, roughly unchanged from 0.22 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
ZJK.TO
BMO High Yield US Corporate Bond Index ETF0.120.160.22
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High Yield BondsNHYB.TO vs ZJK.TO

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Diversification Analysis

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