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CI Morningstar International Value CAD Hedged (VXM.TO) Diversifiers

ETF · Currency in CAD · Last updated Jun 5, 2026

The Fund aims to replicate the performance of the Morningstar® Developed Markets ex-North America Target Value IndexTM by investing in equity securities of the largest and most liquid issuers from developed markets excluding the U.S. and Canada, focusing on companies considered "good value" based on low price to earnings and price to cash flow ratios.

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

Best Diversifiers for VXM.TO

6 ETFs have low correlation with VXM.TO (below 0.3), 1 of which are negatively correlated. The least correlated is Global X High Interest Savings ETF (CASH.TO) (Money Market) with a 1Y correlation of -0.00, roughly unchanged from 0.05 over 3 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
CASH.TO
Global X High Interest Savings ETF-0.000.05—
100
Money MarketVXM.TO vs CASH.TO
HSAV.TO
Global X Cash Maximizer Corporate Class ETF0.080.060.04
69
Bank LoanVXM.TO vs HSAV.TO
CSAV.TO
CI High Interest Savings ETF0.120.040.04
100
Money MarketVXM.TO vs CSAV.TO
ATSX.TO
Accelerate Enhanced Canadian Benchmark Alternative...0.150.170.24
86
VXM.TO vs ATSX.TO
CIAI.TO
CI Global Artificial Intelligence ETF0.28——
68
Technology EquitiesVXM.TO vs CIAI.TO
See all 42 diversifiers for VXM.TO

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Low-Correlation Stock Ideas

If you're looking for individual stocks that move independently from VXM.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to VXM.TO and solid risk/return profiles. The least correlated is Power Corporation of Canada (POW.TO) (Financial Services) with a 1Y correlation of 0.19, roughly unchanged from 0.23 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankSector
POW.TO
Power Corporation of Canada0.190.180.23
94
Financial Services

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Diversification Analysis

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