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Evolve NASDAQ Technology Enhanced Yield Index Fund (QQQY.TO) Diversifiers

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

The Fund seeks to provide enhanced yield by investing in technology companies within the Nasdaq 100 Index and employing an active covered call strategy on up to 50% of the portfolio to generate additional income and hedge long stock positions.

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

Best Diversifiers for QQQY.TO

14 ETFs have low correlation with QQQY.TO (below 0.3), 9 of which are negatively correlated.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
UTES.TO
Evolve Canadian Utilities Enhanced Yield Index Fun...-0.34——
76
Derivative IncomeQQQY.TO vs UTES.TO
ZWU.TO
BMO Covered Call Utilities ETF-0.23——
61
Utilities Equities, Derivative IncomeQQQY.TO vs ZWU.TO
OILY.TO
Evolve Canadian Energy Enhanced Yield Index Fund E...-0.20——
77
Energy EquitiesQQQY.TO vs OILY.TO
ENCC.TO
Global X Canadian Oil and Gas Equity Covered Call ...-0.17——
87
Derivative Income, Energy EquitiesQQQY.TO vs ENCC.TO
ENCL.TO
Global X Enhanced Canadian Oil and Gas Equity Cove...-0.16——
86
Oil & Gas, Derivative IncomeQQQY.TO vs ENCL.TO
See all 48 diversifiers for QQQY.TO

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Diversification Analysis

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