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TD Active Preferred Share ETF (TPRF.TO) Diversifiers

ETF · Currency in CAD · Last updated Jul 17, 2026

The TD Active Preferred Share ETF seeks to earn a high level of income by investing primarily in Canadian listed preferred shares, using active management to select securities and manage risk.

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

Best Diversifiers for TPRF.TO

27 ETFs have low correlation with TPRF.TO (below 0.3), 1 of which are negatively correlated. The least correlated is Global X 0-3 Month T-Bill ETF (CBIL.TO) (Canadian Government Bonds) with a 1Y correlation of -0.06, roughly unchanged from -0.00 over 3 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
CBIL.TO
Global X 0-3 Month T-Bill ETF-0.06-0.00—
99
Canadian Government BondsTPRF.TO vs CBIL.TO
SPLT.TO
Brompton Split Corp. Preferred Share ETF0.030.15—
68
Preferred Stock/Convertible BondsTPRF.TO vs SPLT.TO
PREF.TO
Quadravest Preferred Split Share ETF0.08——
68
Preferred Stock/Convertible BondsTPRF.TO vs PREF.TO
PSA.TO
Purpose High Interest Savings Fund0.090.030.01
99
Money MarketTPRF.TO vs PSA.TO
TCSH.TO
TD Cash Management ETF0.11——
99
Ultrashort BondTPRF.TO vs TCSH.TO
See all 33 diversifiers for TPRF.TO

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Low-Correlation Stock Ideas

If you're looking for individual stocks that move independently from TPRF.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to TPRF.TO and solid risk/return profiles. The least correlated is Cenovus Energy Inc. (CVE.TO) (Energy) with a 1Y correlation of -0.06, down from 0.16 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankSector
CVE.TO
Cenovus Energy Inc.-0.060.090.16
95
Energy
WCP.TO
Whitecap Resources Inc.-0.060.070.16
93
Energy
TOU.TO
Tourmaline Oil Corp.-0.050.080.16
50
Energy

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Diversification Analysis

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