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iShares S&P/TSX Capped Financials Index ETF (XFN.TO) Diversifiers

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

XFN.TO is a passive ETF by iShares tracking the investment results of the Morningstar Gbl Fin Svc GR CAD. XFN.TO launched on Mar 23, 2001 and has a 0.61% expense ratio.

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

Best Diversifiers for XFN.TO

2 ETFs have low correlation with XFN.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 -0.14, down from 0.30 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
XEG.TO
iShares S&P/TSX Capped Energy Index ETF-0.140.150.30
86
Energy EquitiesXFN.TO vs XEG.TO
ZUT.TO
BMO Equal Weight Utilities Index ETF0.150.460.38
65
Utilities EquitiesXFN.TO vs ZUT.TO
ZBI.TO
BMO Canadian Bank Income Index ETF0.340.21—
85
Canadian Government BondsXFN.TO vs ZBI.TO
HXF.TO
Global X S&P/TSX Capped Financials Index Corporate...0.350.430.53
91
Financials EquitiesXFN.TO vs HXF.TO
XBM.TO
iShares S&P/TSX Global Base Metals Index ETF0.420.460.50
85
Energy EquitiesXFN.TO vs XBM.TO
See all 49 diversifiers for XFN.TO

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Low-Correlation Stock Ideas

If you're looking for individual stocks that move independently from XFN.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to XFN.TO and solid risk/return profiles. The least correlated is Canadian Natural Resources Limited (CNQ.TO) (Energy) with a 1Y correlation of -0.13, down from 0.30 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankSector
CNQ.TO
Canadian Natural Resources Limited-0.130.160.30
86
Energy
FTS.TO
Fortis Inc.-0.050.240.16
79
Utilities
ENB.TO
Enbridge Inc.0.000.290.39
81
Energy
TRP.TO
TC Energy Corporation0.050.280.33
89
Energy
CM.TO
Canadian Imperial Bank of Commerce0.730.760.79
96
Financial Services
See all 6 low-correlation stocks for XFN.TO

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Diversification Analysis

Build a portfolio that complements XFN.TO

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

Analyze a portfolio with XFN.TO