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iShares S&P/TSX Global Gold Index ETF (XGD.TO) Diversifiers

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

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

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

Best Diversifiers for XGD.TO

47 ETFs have low correlation with XGD.TO (below 0.3), 4 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 -0.07, down from 0.14 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
XEG.TO
iShares S&P/TSX Capped Energy Index ETF-0.070.110.14
86
Energy EquitiesXGD.TO vs XEG.TO
CMR.TO
iShares Premium Money Market ETF-0.06-0.09-0.04
99
Money MarketXGD.TO vs CMR.TO
CASH.TO
Global X High Interest Savings ETF-0.03-0.04—
100
Money MarketXGD.TO vs CASH.TO
CBIL.TO
Global X 0-3 Month T-Bill ETF-0.010.01—
99
Canadian Government BondsXGD.TO vs CBIL.TO
EGIF.TO
Exemplar Growth and Income Fund0.030.040.09
95
XGD.TO vs EGIF.TO
See all 85 diversifiers for XGD.TO

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Low-Correlation Stock Ideas

If you're looking for individual stocks that move independently from XGD.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to XGD.TO and solid risk/return profiles. The least correlated is Canadian Natural Resources Limited (CNQ.TO) (Energy) with a 1Y correlation of -0.10, down from 0.13 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankSector
CNQ.TO
Canadian Natural Resources Limited-0.100.090.13
86
Energy
L.TO
Loblaw Companies Limited-0.010.030.04
54
Consumer Defensive
KEY.TO
Keyera Corp.0.020.090.13
82
Energy
ENB.TO
Enbridge Inc.0.060.160.20
81
Energy
H.TO
Hydro One Limited0.060.140.14
70
Utilities
See all 28 low-correlation stocks for XGD.TO

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Diversification Analysis

Build a portfolio that complements XGD.TO

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

Analyze a portfolio with XGD.TO