PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan

BMO MSCI India ESG Leaders Index ETF (ZID.TO) Diversifiers

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

The ETF aims to replicate the performance of the MSCI India ESG Leaders Index by investing in Indian companies that possess higher MSCI ESG ratings than their peers, while maintaining the same proportional holdings as the Index.

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

Best Diversifiers for ZID.TO

4 ETFs have low correlation with ZID.TO (below 0.3), 1 of which are negatively correlated. The least correlated is iShares S&P/TSX Capped Energy Index ETF (XEG.TO) (Energy Equities) with a 1Y correlation of -0.21, down from 0.04 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
XEG.TO
iShares S&P/TSX Capped Energy Index ETF-0.21-0.020.04
86
Energy EquitiesZID.TO vs XEG.TO
ZMMK.TO
BMO Money Market Fund ETF Series0.060.05—
100
Money MarketZID.TO vs ZMMK.TO
XBM.TO
iShares S&P/TSX Global Base Metals Index ETF0.160.170.20
85
Energy EquitiesZID.TO vs XBM.TO
ZCN.TO
BMO S&P/TSX Capped Composite Index ETF0.290.290.31
80
Canada EquitiesZID.TO vs ZCN.TO
ZLB.TO
BMO Low Volatility Canadian Equity ETF0.310.300.30
54
Canada EquitiesZID.TO vs ZLB.TO
See all 21 diversifiers for ZID.TO

To view more results, upgrade your current subscription plan.

Diversification Analysis

Build a portfolio that complements ZID.TO

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

Analyze a portfolio with ZID.TO