3 All-Weather Stocks Canadians Can Confidently Buy Today

Yesterday, Statistics Canada reported that Canada’s Consumer Price Index rose 2.3% year over year in January, slightly below analysts’ expectations of 2.4% and down 0.1% from the previous month. Despite moderating inflationary pressures, the S&P/TSX Composite Index declined 0.54% on Tuesday, weighed down by softer commodity prices. Meanwhile, persistent geopolitical tensions and uncertainty surrounding AI-driven disruptions continue to cloud the outlook.

Against this backdrop, let’s look at three Canadian stocks that may offer greater resilience in this volatile outlook.

Dollarama

Dollarama (TSX:DOL) is a compelling all-weather stock. The Montreal-based retailer delivers value-focused merchandise through its strong direct sourcing model and efficient logistics network, allowing it to generate solid same-store sales growth regardless of broader economic conditions. The company is also steadily expanding its footprint and plans to increase its Canadian store count from 1,684 at the end of the third quarter of fiscal 2026 to 2,200 by fiscal 2034. In addition, management aims to expand its Australian store network from 401 to 700 locations over the same period. Given its capital-efficient business model, these expansion initiatives could meaningfully support both revenue and earnings growth.

Dollarama also holds a 60.1% stake in Dollarcity, which operates 684 stores across five Latin American countries. Dollarcity continues to expand and aims to increase its store count to 1,050 by fiscal 2031. Furthermore, Dollarama has the option to raise its ownership stake to 70% by the end of next year. With multiple growth drivers and a resilient core business, Dollarama appears well-positioned to navigate the current uncertain environment and could be a strong addition to a diversified portfolio.

Fortis

Another stock that looks attractive in this uncertain environment is Fortis (TSX:FTS). The company operates nine regulated utility businesses, serving approximately 3.5 million customers across the United States, Canada, and the Caribbean. With the vast majority of its assets regulated and about 95% focused on low-risk transmission and distribution operations, Fortis generates stable earnings and predictable cash flows that are relatively insulated from economic volatility.

Supported by this resilient business model, Fortis has delivered an average total shareholder return of 10.3% over the past 20 years, outperforming broader equity markets. The utility has also increased its dividend for 52 consecutive years and currently offers an attractive yield of around 3.3%.

Looking ahead, Fortis plans to invest approximately $28.8 billion over the next five years, which could grow its rate base at a 7% compound annual growth rate (CAGR) to $57.8 billion by 2030. The company is also advancing cost-efficiency initiatives to support earnings growth further. Backed by solid expansion prospects, management expects to raise dividends by 4–6% annually through 2030, reinforcing Fortis’s appeal as a dependable, all-weather investment.

Hydro One

My final pick is Hydro One (TSX:H), a pure-play electric transmission and distribution utility with minimal exposure to commodity price fluctuations. Approximately 99% of its operations are rate-regulated, making its earnings less sensitive to market volatility and supporting stable, predictable financial performance. Since 2017, the company has expanded its rate base at a 5.1% CAGR, reinforcing earnings growth and contributing to steady share price appreciation. Over the past five years, Hydro One has delivered a total return of about 134%, reflecting an annualized gain of 18.6%.

Meanwhile, electricity demand continues to increase, driven by economic expansion, transportation electrification, and the rapid development of AI-ready data centres. Supported by this expanding addressable market, Hydro One is advancing its $11.8 billion three-year capital investment plan, which could grow its rate base at a 6% annualized pace to $32.1 billion by 2027. Backed by these growth initiatives, management projects adjusted earnings per share to rise at a 6–8% annualized rate through 2027, alongside dividend growth of approximately 6% per year.

The post 3 All-Weather Stocks Canadians Can Confidently Buy Today appeared first on The Motley Fool Canada.

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Fool contributor Rajiv Nanjapla has no position in any of the stocks mentioned. The Motley Fool recommends Dollarama and Fortis. The Motley Fool has a disclosure policy.