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Alphabet (GOOGL) Yield Shares Purpose ETF (YGOG.NEO) Diversifiers

ETF · Currency in CAD · Last updated Jun 3, 2026

The Alphabet (GOOGL) Yield Shares Purpose ETF (YGOG) seeks to maximize yield from holding Alphabet Inc. (GOOGL) shares by employing a covered call writing strategy. The fund holds Alphabet common stock and writes call options to generate monthly distributions while retaining exposure to the stock's long-term growth. YGOG is actively managed by Purpose Investments Inc. and listed on Cboe Canada.

Looking to diversify beyond YGOG.NEO? The ETFs below have the lowest correlation with YGOG.NEO — 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 YGOG.NEO.

Best Diversifiers for YGOG.NEO

23 ETFs have low correlation with YGOG.NEO (below 0.3), 7 of which are negatively correlated.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
UTES.TO
Evolve Canadian Utilities Enhanced Yield Index Fun...-0.23——
75
Derivative IncomeYGOG.NEO vs UTES.TO
ZWU.TO
BMO Covered Call Utilities ETF-0.15-0.03—
58
Utilities Equities, Derivative IncomeYGOG.NEO vs ZWU.TO
UMAX.TO
Hamilton Utilities YIELD MAXIMIZER ETF-0.12——
58
Derivative Income, Utilities EquitiesYGOG.NEO vs UMAX.TO
ENCL.TO
Global X Enhanced Canadian Oil and Gas Equity Cove...-0.11——
85
Oil & Gas, Derivative IncomeYGOG.NEO vs ENCL.TO
ENCC.TO
Global X Canadian Oil and Gas Equity Covered Call ...-0.100.04—
85
Derivative Income, Energy EquitiesYGOG.NEO vs ENCC.TO
See all 53 diversifiers for YGOG.NEO

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