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iShares Canadian Select Dividend Index ETF (XDV.TO) Diversifiers

ETF · Currency in CAD · Last updated Jun 4, 2026

XDV.TO is a passive ETF by iShares tracking the investment results of the Morningstar Canada GR CAD. XDV.TO launched on Dec 19, 2005 and has a 0.55% expense ratio.

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

Best Diversifiers for XDV.TO

5 ETFs have low correlation with XDV.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 -0.03, roughly unchanged from 0.01 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
CBIL.TO
Global X 0-3 Month T-Bill ETF-0.030.020.01
99
Canadian Government BondsXDV.TO vs CBIL.TO
CASH.TO
Global X High Interest Savings ETF0.030.040.04
100
Money MarketXDV.TO vs CASH.TO
CMR.TO
iShares Premium Money Market ETF0.070.01-0.02
99
Money MarketXDV.TO vs CMR.TO
ZMMK.TO
BMO Money Market Fund ETF Series0.090.050.04
100
Money MarketXDV.TO vs ZMMK.TO
BND.TO
Purpose Global Bond Fund0.170.230.24
55
XDV.TO vs BND.TO
See all 90 diversifiers for XDV.TO

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Low-Correlation Stock Ideas

If you're looking for individual stocks that move independently from XDV.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to XDV.TO and solid risk/return profiles. The least correlated is Canadian Natural Resources Limited (CNQ.TO) (Energy) with a 1Y correlation of 0.00, down from 0.32 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankSector
CNQ.TO
Canadian Natural Resources Limited0.000.200.32
86
Energy
ENB.TO
Enbridge Inc.0.180.380.45
81
Energy
DFN.TO
Dividend 15 Split Corp.0.480.580.56
96
Financial Services
TD.TO
The Toronto-Dominion Bank0.700.620.64
98
Financial Services

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Diversification Analysis

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Analyze a portfolio with XDV.TO