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Evolve NASDAQ Technology Index Fund CAD Hedged (QQQT.TO) Diversifiers

ETF · Currency in CAD · Last updated Jun 3, 2026

QQQT aims to replicate the performance of the Nasdaq-100 Technology Sector Adjusted Market-Cap Weighted™ Index by investing in a selection of technology companies from the Nasdaq-100 Index.

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

Best Diversifiers for QQQT.TO

9 ETFs have low correlation with QQQT.TO (below 0.3), 5 of which are negatively correlated. The least correlated is Evolve Canadian Utilities Enhanced Yield Index Fund ETF (UTES.TO) (Derivative Income) with a 1Y correlation of -0.34, down from -0.20 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
UTES.TO
Evolve Canadian Utilities Enhanced Yield Index Fun...-0.34-0.20-0.20
76
Derivative IncomeQQQT.TO vs UTES.TO
OILY.TO
Evolve Canadian Energy Enhanced Yield Index Fund E...-0.22——
77
Energy EquitiesQQQT.TO vs OILY.TO
ENCL.TO
Global X Enhanced Canadian Oil and Gas Equity Cove...-0.19——
86
Oil & Gas, Derivative IncomeQQQT.TO vs ENCL.TO
HUTE.TO
Harvest Equal Weight Global Utilities Enhanced Inc...-0.04——
59
Derivative Income, Utilities EquitiesQQQT.TO vs HUTE.TO
HISU-U.TO
Evolve US High Interest Savings Account Fund-0.00——
99
Money MarketQQQT.TO vs HISU-U.TO
See all 60 diversifiers for QQQT.TO

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Low-Correlation Stock Ideas

If you're looking for individual stocks that move independently from QQQT.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to QQQT.TO and solid risk/return profiles.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankSector
CP.TO
Canadian Pacific Railway Limited0.12——
56
Industrials

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Diversification Analysis

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