3 Canadian Stocks I’d Buy Before Volatility Returns

Calm markets never stay calm for long. When investors start getting comfortable, that’s often when the next wave of volatility sneaks in. For Canadian investors, this usually means it’s smart to lean toward businesses with durable cash flow, strong balance sheets, and clear reasons to keep growing even if sentiment turns shaky. The best picks before volatility returns are not usually the flashiest ones. They’re often companies with resilient operations, disciplined management, and enough scale to keep compounding through the noise.

ONEX

Onex (TSX:ONEX) gives investors exposure to private equity, private credit, and insurance, all inside one Canadian-listed name. In its fourth-quarter and full-year 2025 results, Onex reported net earnings of US$617 million for 2025, or US$8.88 per diluted share. Investment capital per fully diluted share rose to $171.15 from $163.54 a year earlier. That leaves it trading well below its reported investing capital per share at the time of writing.

Over the last year, Onex also made a bigger move around Convex, completing its acquisition and deepening its insurance exposure. Convex posted 2025 net income of US$711 million, up 40% year over year, which gives Onex another growth engine beyond traditional buyouts and credit. On top of that, management renewed its share buyback plan in April, a sign it still sees value in the stock at current levels. The risk, of course, is that private asset values can swing and the structure can stay a little opaque.

ENB

Enbridge (TSX:ENB) owns critical pipeline and utility infrastructure, and its cash flow tends to stay far steadier than the broader market. In February, Enbridge stock reported record 2025 financial results and reaffirmed 2026 guidance. The company also said its secured backlog reached $39 billion. For the fourth quarter, profit came in at $2 billion, or $0.89 per share. Enbridge stock also offers a forward dividend yield of roughly 5.5%, which gives investors some income while they wait.

There has been real news risk around Enbridge stock over the last year, and that’s worth acknowledging. Recently, the U.S. Supreme Court rejected its bid to move the Michigan Line 5 case into federal court, so that overhang has not disappeared. However, the company also continues to invest for growth, including billions toward its Mainline and natural gas systems, while Enbridge stock expects higher 2026 core profit as new projects come online and power demand rises. So, for investors bracing for turbulence, that’s still a very useful mix.

RBA

RB Global (TSX:RBA) operates one of the world’s biggest marketplaces for commercial assets and vehicles, which gives it a nice blend of cyclical upside and fee-driven resilience. When companies buy, sell, or clear out equipment, RB Global benefits. In its fourth-quarter and full-year 2025 results, total revenue rose to US$1.2 billion in the quarter, while adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) climbed 10% to US$379.6 million. Management also guided for 2026 adjusted EBITDA of US$1.47 billion to US$1.53 billion.

In February, the company said its Orlando auction generated more than US$265 million in gross transaction value, which points to healthy activity entering 2026. The business now spans live auctions, digital marketplaces, software, and services, so it’s far more than a one-trick auctioneer. The catch is valuation, as the stock is not exactly cheap. But when volatility returns, strong platforms with recurring activity and good pricing power can still hold up better than expected.

Bottom line

If I wanted to get ahead of the next rough patch, I’d focus on exactly this kind of mix. Onex brings discounted asset value and buyback support. Enbridge stock brings yield and infrastructure stability. RB Global brings a scalable platform with solid growth. None are risk-free, but all three look like the kind of Canadian stocks that can give investors a little more confidence before volatility makes its return.

The post 3 Canadian Stocks I’d Buy Before Volatility Returns appeared first on The Motley Fool Canada.

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More reading

• A 5% Yield Pipeline Stock That Could Have a Breakout Year
• How a $10,000 TFSA Investment Could Be Set Up to Generate Steady Cash Flow 
• 2 High-Yield Dividend Stocks That Could Be a Safer Bet for Canadian Retirees
• 3 Strong Canadian Stocks That Raised Their Dividends — Again
• The Canadian Stocks I’d Consider If I Had $5,000 to Invest in 2026

Fool contributor Amy Legate-Wolfe has no position in any of the stocks mentioned. The Motley Fool recommends Enbridge. The Motley Fool has a disclosure policy.