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BMO Corporate Bond Index ETF (ZCB.TO) Diversifiers

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

BMO Corporate Bond Index ETF aims to replicate the performance of the FTSE Canada All Corporate Bond Index, net of expenses, by investing in investment-grade Canadian dollar corporate bonds with maturities greater than one year.

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

Best Diversifiers for ZCB.TO

11 ETFs have low correlation with ZCB.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 0.03, roughly unchanged from 0.09 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
XEI.TO
iShares S&P/TSX Composite High Dividend Index ETF0.030.180.09
98
Canada EquitiesZCB.TO vs XEI.TO
ZMMK.TO
BMO Money Market Fund ETF Series0.050.030.02
100
Money MarketZCB.TO vs ZMMK.TO
VDY.TO
Vanguard FTSE Canadian High Dividend Yield Index E...0.130.180.08
98
DividendZCB.TO vs VDY.TO
ZNQ.TO
BMO NASDAQ 100 Equity Index ETF0.190.130.11
74
Nasdaq-100ZCB.TO vs ZNQ.TO
XCV.TO
iShares Canadian Value Index ETF0.190.210.07
97
Canada EquitiesZCB.TO vs XCV.TO
See all 19 diversifiers for ZCB.TO

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Low-Correlation Stock Ideas

If you're looking for individual stocks that move independently from ZCB.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to ZCB.TO and solid risk/return profiles. The least correlated is Fortis Inc. (FTS.TO) (Utilities) with a 1Y correlation of 0.18, roughly unchanged from 0.25 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankSector
FTS.TO
Fortis Inc.0.180.280.25
79
Utilities

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Diversification Analysis

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