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iShares S&P U.S. Mid-Cap Index ETF (CAD-Hedged) (XMH.TO) Diversifiers

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

XMH.TO is a passive ETF by iShares tracking the investment results of the S&P MidCap 400® CAD Hedged Index. XMH.TO launched on Aug 4, 2015 and has a 0.16% expense ratio.

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

Best Diversifiers for XMH.TO

1 ETFs have low correlation with XMH.TO (below 0.3), 0 of which are negatively correlated. The least correlated is iShares S&P/TSX Composite High Dividend Index ETF (XEI.TO) (Canada Equities) with a 1Y correlation of 0.29, down from 0.59 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
XEI.TO
iShares S&P/TSX Composite High Dividend Index ETF0.290.520.59
98
Canada EquitiesXMH.TO vs XEI.TO
XDIV.TO
iShares Core MSCI Canadian Quality Dividend Index ...0.420.570.61
98
Dividend, Large Cap Value EquitiesXMH.TO vs XDIV.TO
XMD.TO
iShares S&P/TSX Completion Index ETF0.550.660.71
68
Canada EquitiesXMH.TO vs XMD.TO
XQQ.TO
iShares NASDAQ 100 Index ETF (CAD-Hedged)0.630.610.68
66
Nasdaq-100XMH.TO vs XQQ.TO
XIC.TO
iShares Core S&P/TSX Capped Composite Index ETF0.660.730.77
80
Canada EquitiesXMH.TO vs XIC.TO
See all 17 diversifiers for XMH.TO

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Low-Correlation Stock Ideas

If you're looking for individual stocks that move independently from XMH.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to XMH.TO and solid risk/return profiles. The least correlated is Cameco Corporation (CCO.TO) (Energy) with a 1Y correlation of 0.35, roughly unchanged from 0.39 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankSector
CCO.TO
Cameco Corporation0.350.320.39
84
Energy

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Diversification Analysis

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