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BMO US Dividend ETF (CAD) (ZDY.TO) Diversifiers

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

BMO US Dividend ETF aims to provide exposure to a yield-weighted portfolio of U.S. dividend-paying stocks using a rules-based methodology that evaluates dividend growth rate, yield, and payout ratio.

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

Best Diversifiers for ZDY.TO

3 ETFs have low correlation with ZDY.TO (below 0.3), 0 of which are negatively correlated. The least correlated is Global X High Interest Savings ETF (CASH.TO) (Money Market) with a 1Y correlation of 0.02, roughly unchanged from 0.02 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
CASH.TO
Global X High Interest Savings ETF0.020.060.02
100
Money MarketZDY.TO vs CASH.TO
ZMMK.TO
BMO Money Market Fund ETF Series0.070.04—
100
Money MarketZDY.TO vs ZMMK.TO
KNGC.TO
Brompton Canadian Cash Flow Kings ETF0.13——
97
Large Cap Blend EquitiesZDY.TO vs KNGC.TO
TUEX.TO
TD Active U.S. Enhanced Dividend CAD Hedged ETF0.380.28—
50
Dividend, Large Cap Blend EquitiesZDY.TO vs TUEX.TO
CWIN.TO
HAMILTON CHAMPIONS Enhanced Canadian Dividend ETF ...0.390.450.45
83
DividendZDY.TO vs CWIN.TO
See all 58 diversifiers for ZDY.TO

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Low-Correlation Stock Ideas

If you're looking for individual stocks that move independently from ZDY.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to ZDY.TO and solid risk/return profiles. The least correlated is CT Real Estate Investment Trust (CRT-UN.TO) (Real Estate) with a 1Y correlation of 0.18, down from 0.32 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankSector
CRT-UN.TO
CT Real Estate Investment Trust0.180.250.32
78
Real Estate

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Diversification Analysis

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