Looking to diversify beyond PHE.TO? The ETFs below have the lowest correlation with PHE.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 PHE.TO.
Best Diversifiers for PHE.TO
4 ETFs have low correlation with PHE.TO (below 0.3), 0 of which are negatively correlated. The least correlated is iShares Core MSCI US Quality Dividend Index ETF (CAD-Hedged) (XDUH.TO) (Quality Factor) with a 1Y correlation of 0.03, down from 0.27 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares Core MSCI US Quality Dividend Index ETF (C... | 0.03 | 0.19 | 0.27 | 59 | Quality Factor, Large Cap Value Equities, Dividend | PHE.TO vs XDUH.TO | |
| iShares Core S&P U.S. Total Market Index ETF | 0.04 | 0.15 | 0.21 | 72 | Large Cap Blend Equities | PHE.TO vs XUU.TO | |
| Desjardins RI USA Multifactor - Net-Zero Emissions... | 0.14 | 0.16 | 0.15 | 87 | Large Cap Blend Equities, Sustainable, Multi-factor | PHE.TO vs DRFU.TO | |
| Manulife Multifactor U.S. Large Cap Index ETF Hedg... | 0.24 | 0.43 | 0.51 | 70 | Large Cap Blend Equities, Multi-factor | PHE.TO vs MULC.TO |
Diversification Analysis
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