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BMO International Dividend ETF (ZDI.TO) Diversifiers

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

BMO International Dividend ETF aims to provide exposure to a yield-weighted portfolio of dividend equities in international developed markets outside North America, using a rules-based methodology that considers three-year dividend growth rate, yield, and payout ratio, with securities subject to a liquidity screen.

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

Best Diversifiers for ZDI.TO

6 ETFs have low correlation with ZDI.TO (below 0.3), 1 of which are negatively correlated. The least correlated is Global X High Interest Savings ETF (CASH.TO) (Money Market) with a 1Y correlation of -0.03, roughly unchanged from 0.01 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
CASH.TO
Global X High Interest Savings ETF-0.030.010.01
100
Money MarketZDI.TO vs CASH.TO
CMR.TO
iShares Premium Money Market ETF0.000.020.03
100
Money MarketZDI.TO vs CMR.TO
ZMMK.TO
BMO Money Market Fund ETF Series0.060.05—
99
Money MarketZDI.TO vs ZMMK.TO
QDXH.TO
Mackenzie International Equity Index ETF (CAD-Hedg...0.240.270.26
82
International EquityZDI.TO vs QDXH.TO
CPD.TO
iShares S&P/TSX Canadian Preferred Share Index ETF0.250.260.27
94
Preferred Stock/Convertible BondsZDI.TO vs CPD.TO
See all 53 diversifiers for ZDI.TO

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Low-Correlation Stock Ideas

If you're looking for individual stocks that move independently from ZDI.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to ZDI.TO and solid risk/return profiles. The least correlated is Canadian Natural Resources Limited (CNQ.TO) (Energy) with a 1Y correlation of -0.08, down from 0.19 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankSector
CNQ.TO
Canadian Natural Resources Limited-0.080.130.19
83
Energy
PPL.TO
Pembina Pipeline Corporation-0.030.190.23
92
Energy
L.TO
Loblaw Companies Limited0.010.150.13
68
Consumer Defensive
FTS.TO
Fortis Inc.0.040.210.19
93
Utilities
CRT-UN.TO
CT Real Estate Investment Trust0.300.330.39
90
Real Estate
See all 7 low-correlation stocks for ZDI.TO

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Diversification Analysis

Build a portfolio that complements ZDI.TO

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

Analyze a portfolio with ZDI.TO