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

ETF · Currency in CAD · Last updated Jul 16, 2026

XDV.TO is a passive ETF by iShares tracking the investment results of the Dow Jones Canada Select Dividend Index. 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

7 ETFs have low correlation with XDV.TO (below 0.3), 1 of which are negatively correlated. The least correlated is iShares S&P/TSX Capped Energy Index ETF (XEG.TO) (Energy Equities) with a 1Y correlation of -0.02, down from 0.33 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
XEG.TO
iShares S&P/TSX Capped Energy Index ETF-0.020.170.33
78
Energy Equities, Canada EquitiesXDV.TO vs XEG.TO
CASH.TO
Global X High Interest Savings ETF0.010.040.03
100
Money MarketXDV.TO vs CASH.TO
CMR.TO
iShares Premium Money Market ETF0.03-0.01-0.04
100
Money MarketXDV.TO vs CMR.TO
CBIL.TO
Global X 0-3 Month T-Bill ETF0.030.030.02
99
Canadian Government BondsXDV.TO vs CBIL.TO
ZMMK.TO
BMO Money Market Fund ETF Series0.090.070.05
99
Money MarketXDV.TO vs ZMMK.TO
See all 104 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 -0.02, down from 0.30 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankSector
CNQ.TO
Canadian Natural Resources Limited-0.020.160.30
83
Energy
ENB.TO
Enbridge Inc.0.160.350.44
91
Energy
BDI.TO
Black Diamond Group Limited0.310.280.33
95
Industrials
DFN.TO
Dividend 15 Split Corp.0.470.600.59
98
Financial Services
TD.TO
The Toronto-Dominion Bank0.720.630.67
99
Financial Services

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Diversification Analysis

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Analyze a portfolio with XDV.TO