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iShares ESG Aware MSCI Canada Index ETF (XESG.TO) Diversifiers

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

XESG.TO is a passive ETF by iShares tracking the investment results of the Morningstar Canada GR CAD. XESG.TO launched on Mar 18, 2019 and has a 0.16% expense ratio.

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

Best Diversifiers for XESG.TO

1 ETFs have low correlation with XESG.TO (below 0.3), 0 of which are negatively correlated. The least correlated is Global X High Interest Savings ETF (CASH.TO) (Money Market) with a 1Y correlation of 0.05, roughly unchanged from 0.04 over 3 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
CASH.TO
Global X High Interest Savings ETF0.050.04—
100
Money MarketXESG.TO vs CASH.TO
HXH.TO
Global X Canadian High Dividend Index Corporate Cl...0.340.570.61
98
Canada EquitiesXESG.TO vs HXH.TO
TLV.TO
Invesco S&P/TSX Composite Low Volatility Index ETF0.400.570.59
92
Canada EquitiesXESG.TO vs TLV.TO
XEI.TO
iShares S&P/TSX Composite High Dividend Index ETF0.460.720.78
98
Canada EquitiesXESG.TO vs XEI.TO
TCLV.TO
TD Q Canadian Low Volatility ETF0.530.570.57
53
Canada EquitiesXESG.TO vs TCLV.TO
See all 43 diversifiers for XESG.TO

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Low-Correlation Stock Ideas

If you're looking for individual stocks that move independently from XESG.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to XESG.TO and solid risk/return profiles. The least correlated is SmartCentres Real Estate Investment Trust (SRU-UN.TO) (Real Estate) with a 1Y correlation of 0.39, down from 0.53 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankSector
SRU-UN.TO
SmartCentres Real Estate Investment Trust0.390.480.53
82
Real Estate

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Diversification Analysis

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

Analyze a portfolio with XESG.TO