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BMO Clean Energy Index ETF (ZCLN.TO) Diversifiers

ETF · Currency in CAD · Last updated Jun 25, 2026

The BMO Clean Energy Index ETF seeks to replicate the performance of the S&P Global Clean Energy Index, providing exposure to companies involved in clean energy-related businesses, including electric utilities, multi-utilities, and independent power producers & energy traders.

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

Best Diversifiers for ZCLN.TO

9 ETFs have low correlation with ZCLN.TO (below 0.3), 2 of which are negatively correlated. The least correlated is Global X Equal Weight Canadian Pipelines Index ETF (PPLN.TO) (Energy Equities) with a 1Y correlation of -0.07, down from 0.21 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
PPLN.TO
Global X Equal Weight Canadian Pipelines Index ETF-0.070.140.21
87
Energy Equities, Equal WeightZCLN.TO vs PPLN.TO
MNY.TO
Purpose Cash Management Fund-0.03-0.02—
100
Money MarketZCLN.TO vs MNY.TO
XEG.TO
iShares S&P/TSX Capped Energy Index ETF0.030.140.16
60
Energy Equities, Canada EquitiesZCLN.TO vs XEG.TO
ZMMK.TO
BMO Money Market Fund ETF Series0.040.03—
99
Money MarketZCLN.TO vs ZMMK.TO
XUT.TO
iShares S&P/TSX Capped Utilities Index ETF0.140.340.36
78
Utilities EquitiesZCLN.TO vs XUT.TO
See all 25 diversifiers for ZCLN.TO

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Diversification Analysis

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