A Perfect TFSA Pair for 2026: 2 Stocks I’d Buy Now

The Tax-Free Savings Account (TFSA) enables account holders to build a high-performance, wealth-generating stock portfolio. Also, a diversified pair is a more suitable approach in a tax-advantaged account than a single-stock investment to help mitigate market volatility.  

Since the start of April 2026, the TSX has finished with gains in 11 of the last 14 trading days. However, the uncertainty over peace talks in the Middle East will unsettle the market.

If you haven’t used your $7,000 annual limit or have an available contribution room, consider buying the National Bank of Canada (TSX:NA) and PHX Energy Services (TSX:PHX) now. Both stocks have shown resiliency amid heightened geopolitical tensions. TFSA investors would be earning in two ways: dividends and capital gains.

Long-term value creation

The Big Six Canadian banks reported healthy earnings in Q1 fiscal 2026, characterized by steady revenue growth and improved profitability. National Bank of Canada’s acquisition of Canadian Western Bank supported the sharp rise in its quarterly profit. At $201.79 per share, NA is up 17.7% year-to-date.

In the three months ending January 31, 2026, net income rose 26% to $1.3 billion compared with Q1 fiscal 2025. Management attributes the robust financial results to the strong performance of all business segments. The $78.9 billion bank is also confident that the CWB transaction will accelerate NA’s growth across Canada.

As of April 21, 2026, NA trades at $201.79 per share, up 17.7% year-to-date. If you invest today, the dividend yield is a modest but safe 2.5%. Dividend consistency is not in doubt, owing to the reliable payment history. The dividend track record is 54 years, including an average dividend growth rate of over 21% over the last three years. Its most recent increase in February 2026 was 5%.

Currently, NA has three business segments, Personal and Commercial Banking, Wealth Management, and Capital Markets. The fourth segment outside domestic operations is U.S. Specialty Finance and International. For 2026, the focus leans toward growth following the successful integration of CWB.

Dividend powerhouse

TSX’s energy sector benefits from the oil price shocks in 2026 as well as the constrained global supply with the closure of the Strait of Hormuz. Many individual stocks are surging significantly. PHX Energy Services has advanced 56.5% from year-end 2025 to $11.38 per share. Moreover, current investors feast on the juicy 7% dividend.

The $504.5 million company provides horizontal and directional drilling technology. Its services are in high demand, given the renewed focus on energy security. Also, growth investors are now familiar with PHX (rank 20) following its inclusion in the 2024 TSX30, an annual ranking of TSX’s 30 top-performing stocks.

For the full-year 2025, consolidated revenue increased 8% year-over-year to $709.6 million. Notably, it was the fourth consecutive year that PHX generated the highest level of annual consolidated revenue in its history. Earnings were nearly flat at $54.7 million, although excess cash flow rose 48% to $69 million from a year ago.

PHX wants to be known as an oilfield services investment. It fully supports the leading operators in the exploration and production industry and is well-positioned to grow as they scale.

Ideal duo

The National Bank of Canada and PHX Energy Services are the ideal TFSA duo in the current market. You capture the upside with their momentum while fully realizing tax-free growth.

The post A Perfect TFSA Pair for 2026: 2 Stocks I’d Buy Now appeared first on The Motley Fool Canada.

Should you invest $1,000 in National Bank Of Canada right now?

Before you buy stock in National Bank Of Canada, consider this:

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Consider MercadoLibre, which we first recommended on January 8, 2014 … if you invested $1,000 in the “eBay of Latin America” at the time of our recommendation, you’d have over $18,000!*

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* Returns as of April 20th, 2026

More reading

• Got $10,000? Here’s a Simple TFSA Plan for Income and Growth
• Inflation Just Hit 2.4%, but These 2 Canadian Stocks Still Look Like Buys
• How Canadians Should Be Using Their TFSA Contribution Limit in 2026

Fool contributor Christopher Liew has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.