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BMO S&P 500 (CAD Hedged) (ZUE.TO) Diversifiers

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

The BMO S&P 500 Hedged to CAD Index ETF aims to replicate the performance of the S&P 500 Hedged to Canadian Dollars Index by investing in its constituent securities in proportion and hedging U.S. dollar exposure back to Canadian dollars.

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

Best Diversifiers for ZUE.TO

1 ETFs have low correlation with ZUE.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 0.10, roughly unchanged from 0.05 over 3 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
ZMMK.TO
BMO Money Market Fund ETF Series0.100.05—
100
Money MarketZUE.TO vs ZMMK.TO
ZLB.TO
BMO Low Volatility Canadian Equity ETF0.360.480.56
54
Canada EquitiesZUE.TO vs ZLB.TO
USSL.TO
Global X Enhanced S&P 500 Index ETF0.37——
81
Leveraged Equities, S&P 500ZUE.TO vs USSL.TO
ZDV.TO
BMO Canadian Dividend ETF0.440.540.61
85
Canada EquitiesZUE.TO vs ZDV.TO
ZEB.TO
BMO Equal Weight Banks Index ETF0.620.570.61
96
Financials EquitiesZUE.TO vs ZEB.TO
See all 27 diversifiers for ZUE.TO

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Diversification Analysis

Build a portfolio that complements ZUE.TO

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

Analyze a portfolio with ZUE.TO