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Palantir (PLTR) Yield Shares Purpose ETF (YPLT.NEO) Diversifiers

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

The Palantir (PLTR) Yield Shares Purpose ETF (YPLT) seeks to maximize yield from holding Palantir Technologies Inc. (PLTR) shares by employing a covered call writing strategy and moderate leverage. The fund holds up to 100% of its assets in Palantir common stock and writes call options to generate monthly distributions, with modest use of leverage to enhance income and exposure. YPLT is actively managed by Purpose Investments Inc. and listed on Cboe Canada, and is intended for investors seeking high monthly income tied to the performance of a single underlying stock.

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

Best Diversifiers for YPLT.NEO

19 ETFs have low correlation with YPLT.NEO (below 0.3), 6 of which are negatively correlated. The least correlated is BMO Covered Call Utilities ETF (ZWU.TO) (Utilities Equities) with a 1Y correlation of -0.23, roughly unchanged from -0.18 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
ZWU.TO
BMO Covered Call Utilities ETF-0.23-0.18-0.18
58
Utilities Equities, Derivative IncomeYPLT.NEO vs ZWU.TO
UMAX.TO
Hamilton Utilities YIELD MAXIMIZER ETF-0.22——
58
Derivative Income, Utilities EquitiesYPLT.NEO vs UMAX.TO
HUTE.TO
Harvest Equal Weight Global Utilities Enhanced Inc...-0.10-0.11-0.11
58
Derivative Income, Utilities EquitiesYPLT.NEO vs HUTE.TO
ENCL.TO
Global X Enhanced Canadian Oil and Gas Equity Cove...-0.08——
85
Oil & Gas, Derivative IncomeYPLT.NEO vs ENCL.TO
ENCC.TO
Global X Canadian Oil and Gas Equity Covered Call ...-0.070.070.07
85
Derivative Income, Energy EquitiesYPLT.NEO vs ENCC.TO
See all 25 diversifiers for YPLT.NEO

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Diversification Analysis

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