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PICTON Long Short Equity Alternative Fund (PFLS.TO) Diversifiers

ETF · Currency in CAD · Last updated Jul 25, 2026

The PICTON Long Short Equity Alternative Fund (PFLS) seeks consistent long-term capital appreciation and an attractive risk-adjusted return through an actively managed portfolio of long and short Canadian, U.S., and international equities. The alternative fund may use derivatives, short selling, and borrowing, with expected aggregate gross exposure of 2.5 to 3.0 times net asset value in normal market conditions.

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

Best Diversifiers for PFLS.TO

6 ETFs have low correlation with PFLS.TO (below 0.3), 0 of which are negatively correlated. The least correlated is PICTON Long Short Income Alternative Fund (PFIA.TO) (Long-Short) with a 1Y correlation of 0.02, roughly unchanged from 0.04 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
PFIA.TO
PICTON Long Short Income Alternative Fund0.020.030.04
61
Long-Short, Nontraditional BondsPFLS.TO vs PFIA.TO
CRED.TO
CI Alternative Investment Grade Credit Fund0.050.02-0.00
71
Investment Grade Bonds, Long-Short, Nontraditional Bonds, Actively ManagedPFLS.TO vs CRED.TO
RATE.TO
Arrow EC Income Advantage Alternative Fund0.12-0.010.03
72
Investment Grade Bonds, Corporate Bonds, Nontraditional BondsPFLS.TO vs RATE.TO
VVO.TO
Vanguard Global Minimum Volatility ETF0.200.200.30
55
Global Equities, Low VolatilityPFLS.TO vs VVO.TO
ATSX.TO
Accelerate Canadian Long Short Equity Fund0.230.150.17
94
Long-Short, Canada Equities, Multi-factor, Actively ManagedPFLS.TO vs ATSX.TO
See all 17 diversifiers for PFLS.TO

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Diversification Analysis

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