PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan

iShares MSCI Emerging Markets Index ETF (XEM.TO) Diversifiers

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

XEM.TO is a passive ETF by iShares tracking the investment results of the Morningstar EM GR CAD. XEM.TO launched on Jun 18, 2009 and has a 0.81% expense ratio.

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

Best Diversifiers for XEM.TO

4 ETFs have low correlation with XEM.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 0.17, down from 0.33 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
XEI.TO
iShares S&P/TSX Composite High Dividend Index ETF0.170.350.33
98
Canada EquitiesXEM.TO vs XEI.TO
XDIV.TO
iShares Core MSCI Canadian Quality Dividend Index ...0.230.370.33
98
Dividend, Large Cap Value EquitiesXEM.TO vs XDIV.TO
ZLB.TO
BMO Low Volatility Canadian Equity ETF0.250.350.33
54
Canada EquitiesXEM.TO vs ZLB.TO
VDY.TO
Vanguard FTSE Canadian High Dividend Yield Index E...0.280.390.35
98
DividendXEM.TO vs VDY.TO
ZWB.TO
BMO Covered Call Canadian Banks ETF0.410.410.38
95
Financials EquitiesXEM.TO vs ZWB.TO
See all 24 diversifiers for XEM.TO

To view more results, upgrade your current subscription plan.

Low-Correlation Stock Ideas

If you're looking for individual stocks that move independently from XEM.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to XEM.TO and solid risk/return profiles. The least correlated is BCE Inc. (BCE.TO) (Communication Services) with a 1Y correlation of -0.03, roughly unchanged from 0.05 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankSector
BCE.TO
BCE Inc.-0.030.050.05
69
Communication Services

Rows per page

1–1 of 1

Diversification Analysis

Build a portfolio that complements XEM.TO

Add XEM.TO to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.

Analyze a portfolio with XEM.TO