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BMO Japan Index ETF (ZJPN.TO) Diversifiers

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

The BMO Japan Index ETF seeks to replicate the performance of the Solactive GBS Japan Large & Mid Cap Index, providing exposure to large and mid-cap Japanese equities representing approximately 85% of the free float-adjusted market capitalization in Japan.

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

Best Diversifiers for ZJPN.TO

2 ETFs have low correlation with ZJPN.TO (below 0.3), 0 of which are negatively correlated. The least correlated is BMO Money Market Fund ETF Series (ZMMK.TO) (Money Market) with a 1Y correlation of 0.07, roughly unchanged from 0.06 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
ZMMK.TO
BMO Money Market Fund ETF Series0.070.030.06
100
Money MarketZJPN.TO vs ZMMK.TO
XEI.TO
iShares S&P/TSX Composite High Dividend Index ETF0.280.32—
98
Canada EquitiesZJPN.TO vs XEI.TO
XDIV.TO
iShares Core MSCI Canadian Quality Dividend Index ...0.340.32—
98
Dividend, Large Cap Value EquitiesZJPN.TO vs XDIV.TO
ZLB.TO
BMO Low Volatility Canadian Equity ETF0.380.37—
54
Canada EquitiesZJPN.TO vs ZLB.TO
ZNQ.TO
BMO NASDAQ 100 Equity Index ETF0.480.44—
74
Nasdaq-100ZJPN.TO vs ZNQ.TO
See all 15 diversifiers for ZJPN.TO

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Low-Correlation Stock Ideas

If you're looking for individual stocks that move independently from ZJPN.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to ZJPN.TO and solid risk/return profiles. The least correlated is 5N Plus Inc. (VNP.TO) (Basic Materials) with a 1Y correlation of 0.23, roughly unchanged from 0.25 over 3 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankSector
VNP.TO
5N Plus Inc.0.230.25—
99
Basic Materials

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Diversification Analysis

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