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iShares Core S&P/TSX Capped Composite Index ETF (XIC.TO) Diversifiers

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

iShares Core S&P/TSX Capped Composite Index ETF (XIC) seeks long-term capital growth by replicating the performance of the S&P/TSX Capped Composite Index, which represents the broad Canadian equity market with maximum issuer weight capped at 10%. It provides low-cost, diversified exposure to large-, mid-, and small-cap stocks listed on the Toronto Stock Exchange across all sectors and is widely used as a core Canadian equity holding.

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

Best Diversifiers for XIC.TO

21 ETFs have low correlation with XIC.TO (below 0.3), 3 of which are negatively correlated. The least correlated is iShares Floating Rate Index ETF (XFR.TO) (Canadian Government Bonds) with a 1Y correlation of -0.06, roughly unchanged from -0.00 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
XFR.TO
iShares Floating Rate Index ETF-0.06-0.01-0.00
98
Canadian Government BondsXIC.TO vs XFR.TO
CBIL.TO
Global X 0-3 Month T-Bill ETF-0.030.01—
99
Canadian Government BondsXIC.TO vs CBIL.TO
PSA.TO
Purpose High Interest Savings Fund-0.000.030.03
100
Money MarketXIC.TO vs PSA.TO
CMR.TO
iShares Premium Money Market ETF0.04-0.00-0.02
99
Money MarketXIC.TO vs CMR.TO
CASH.TO
Global X High Interest Savings ETF0.040.04—
100
Money MarketXIC.TO vs CASH.TO
See all 171 diversifiers for XIC.TO

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Low-Correlation Stock Ideas

If you're looking for individual stocks that move independently from XIC.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to XIC.TO and solid risk/return profiles. The least correlated is Canadian Natural Resources Limited (CNQ.TO) (Energy) with a 1Y correlation of 0.06, down from 0.45 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankSector
CNQ.TO
Canadian Natural Resources Limited0.060.330.45
86
Energy
ENB.TO
Enbridge Inc.0.090.360.47
81
Energy
BIP-UN.TO
Brookfield Infrastructure Partners L.P0.340.550.48
76
Utilities
ATD.TO
Alimentation Couche-Tard Inc.0.370.360.39
55
Consumer Cyclical
DFN.TO
Dividend 15 Split Corp.0.390.520.53
96
Financial Services
See all 9 low-correlation stocks for XIC.TO

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Diversification Analysis

Build a portfolio that complements XIC.TO

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

Analyze a portfolio with XIC.TO