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iShares J.P. Morgan USD Emerging Markets Bond Index ETF (CAD-Hedged) (XEB.TO) Diversifiers

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

XEB.TO is a passive ETF by iShares tracking the investment results of the J.P. Morgan EMBI Global Core Hedged in CAD Index. XEB.TO launched on Apr 12, 2011 and has a 0.53% expense ratio.

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

Best Diversifiers for XEB.TO

2 ETFs have low correlation with XEB.TO (below 0.3), 0 of which are negatively correlated. The least correlated is iShares S&P/TSX Composite High Dividend Index ETF (XEI.TO) (Canada Equities) with a 1Y correlation of 0.03, down from 0.33 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
XEI.TO
iShares S&P/TSX Composite High Dividend Index ETF0.030.340.33
98
Canada EquitiesXEB.TO vs XEI.TO
XDIV.TO
iShares Core MSCI Canadian Quality Dividend Index ...0.130.330.31
98
Dividend, Large Cap Value EquitiesXEB.TO vs XDIV.TO
XBM.TO
iShares S&P/TSX Global Base Metals Index ETF0.300.300.29
85
Energy EquitiesXEB.TO vs XBM.TO
XIC.TO
iShares Core S&P/TSX Capped Composite Index ETF0.350.430.43
85
Canada EquitiesXEB.TO vs XIC.TO
ZEM.TO
BMO MSCI Emerging Markets Index ETF0.370.340.32
83
Emerging Markets EquitiesXEB.TO vs ZEM.TO
See all 15 diversifiers for XEB.TO

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Low-Correlation Stock Ideas

If you're looking for individual stocks that move independently from XEB.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to XEB.TO and solid risk/return profiles. The least correlated is Sprott Physical Gold Trust (PHYS.TO) (Financial Services) with a 1Y correlation of 0.16, roughly unchanged from 0.14 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankSector
PHYS.TO
Sprott Physical Gold Trust0.160.140.14
74
Financial Services

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Diversification Analysis

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