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BMO Discount Bond (ZDB.TO) Diversifiers

ETF · Currency in CAD · Last updated Jul 16, 2026

The ETF aims to replicate the performance of the FTSE Canada Universe Discount Bond Index by investing in Canadian investment-grade fixed income securities with maturities over one year and coupon rates less than or equal to 1.4 times their yield to maturity. The fund primarily holds Federal, Provincial, and Corporate bonds with a credit rating of BBB or higher.

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

Best Diversifiers for ZDB.TO

19 ETFs have low correlation with ZDB.TO (below 0.3), 1 of which are negatively correlated. The least correlated is Purpose High Interest Savings Fund (PSA.TO) (Money Market) with a 1Y correlation of -0.02, roughly unchanged from 0.03 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
PSA.TO
Purpose High Interest Savings Fund-0.020.110.03
99
Money MarketZDB.TO vs PSA.TO
CBIL.TO
Global X 0-3 Month T-Bill ETF0.020.06—
99
Canadian Government BondsZDB.TO vs CBIL.TO
HSAV.TO
Global X Cash Maximizer Corporate Class ETF0.040.000.02
70
Money MarketZDB.TO vs HSAV.TO
TCSH.TO
TD Cash Management ETF0.070.130.13
99
Ultrashort BondZDB.TO vs TCSH.TO
XDIV.TO
iShares Core MSCI Canadian Quality Dividend Index ...0.100.180.11
98
Dividend, Large Cap Value EquitiesZDB.TO vs XDIV.TO
See all 43 diversifiers for ZDB.TO

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Diversification Analysis

Build a portfolio that complements ZDB.TO

Add ZDB.TO to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.

Analyze a portfolio with ZDB.TO