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

ETF · Currency in CAD · Last updated Jul 15, 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

24 ETFs have low correlation with XIC.TO (below 0.3), 0 of which are negatively correlated. The least correlated is Purpose High Interest Savings Fund (PSA.TO) (Money Market) with a 1Y correlation of 0.02, roughly unchanged from 0.04 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
PSA.TO
Purpose High Interest Savings Fund0.020.040.04
99
Money MarketXIC.TO vs PSA.TO
CMR.TO
iShares Premium Money Market ETF0.03-0.02-0.03
100
Money MarketXIC.TO vs CMR.TO
PPLN.TO
Global X Equal Weight Canadian Pipelines Index ETF0.040.300.48
91
Energy Equities, Equal WeightXIC.TO vs PPLN.TO
CBIL.TO
Global X 0-3 Month T-Bill ETF0.050.050.04
99
Canadian Government BondsXIC.TO vs CBIL.TO
XFR.TO
iShares Floating Rate Index ETF0.050.020.02
98
Canadian Government BondsXIC.TO vs XFR.TO
See all 193 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 Limited0.060.320.45
82
Energy
ENB.TO
Enbridge Inc.0.060.340.46
91
Energy
SIA.TO
Sienna Senior Living Inc.0.190.370.46
82
Healthcare
CTC-A.TO
Canadian Tire Corporation Ltd0.260.360.44
51
Consumer Cyclical
BIP-UN.TO
Brookfield Infrastructure Partners L.P.0.300.530.47
82
Utilities
See all 16 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