The “Sleep-Well” TFSA Portfolio for 2026: 3 Blue-Chip Stocks to Buy in January

If you’re building a Tax-Free Savings Account (TFSA) in January 2026, looking to sleep better in 2026, three Canadian blue chips can absolutely get you started. The trick is knowing what each holding is doing for you. A beginner portfolio needs cash flow you can trust, businesses that survive ugly years, and enough balance that one bad headline does not wreck your plan. These three dividend stocks can deliver that mix, but carry different risks and will not move in sync.

RY

Royal Bank of Canada (TSX:RY) can be the anchor to any portfolio as it’s a diversified earnings machine, not a one-product story. For Q3 FY2025, it posted record net income of $5.4 billion and diluted earnings per share (EPS) EPS of $3.75, with strength across personal banking, wealth management, insurance, and capital markets. It also reported a 13.2% CET1 ratio and returned $3.1 billion via dividends and buybacks. For a beginner, that blend of scale and capital is a foundation that makes it easier to stay invested.

The sleep-well case for Royal Bank is resilience. When one segment cools, another can pick up the slack. If markets are messy, retail spreads and volumes can still work. If lending slows, fee income can still grow. The part that can keep you up at night is the credit cycle. Provisions tend to rise after good times. Housing stress can spill into consumer and commercial losses. Regulators can also tighten capital rules. You own it anyway, as the franchise is designed to outlast those cycles, not avoid them.

CU

Canadian Utilities (TSX:CU) is here for steadiness, not excitement. Utilities earn most of their money from regulated or contracted assets, so profits typically swing less than those of banks or energy producers. For new investors, that predictability is a feature, especially when the market gets loud. The dividend stock’s third-quarter 2025 earnings update is the type of checkpoint you want to see, as it keeps the story current and shows management is still executing on a long-term plan.

But utilities are not risk-free. Rates matter as utilities often carry substantial debt and investors compare dividend yields to bond yields. Regulators influence allowed returns. Capital programs with big builds can run over budget or take longer to earn a return. If the Bank of Canada signals multiple cuts, that backdrop can help by easing financing pressure over time and making dividend stocks look more appealing. Though you still need to watch leverage and execution.

CNQ

Canadian Natural Resources (TSX:CNQ) is the spicy one. It can still be a sleep-well holding, but only if you accept that the share price can swing with oil and gas. What investors want from CNQ is operational consistency and a clear capital-return plan. In its third-quarter 2025 release, the dividend stock focused on operations and returning cash to shareholders, the right language for long-term owners.

Rate cuts can help CNQ, but not the way they help a utility. Lower rates can lift overall equity sentiment and support the economy, which can support energy demand. Still, CNQ’s biggest drivers remain global supply, demand, and geopolitics. Investors want exposure to its dividends and buybacks when energy is strong, without letting one commodity cycle dictate their TFSA mood.

Bottom line

Put together, these three dividend stocks can be a strong Canadian core with a bank, a utility, and a major energy producer, plus dividends from all three. The biggest gap is diversification beyond Canada and beyond these sectors. If you add one broad global equity exchange-traded fund (ETF) as a fourth holding, you reduce concentration and make the plan more beginner-proof. Meanwhile, aiming for solid dividends, for instance, here’s what $7,000 in each can bring you.

COMPANYRECENT PRICENUMBER OF SHARESDIVIDEND TOTAL ANNUALPAYOUTFREQUENCYTOTAL INVESTMENTCU$41.98166$1.83$303.78Quarterly$6,978.68CNQ$43.66160$2.35$376.00Quarterly$6,985.60RY$236.5429$6.56$190.24Quarterly$6,859.66

The goal for January is not to be clever. It’s to build something you can keep funding, ignore the noise, and hold through rough patches. Before buying, check today’s price, dividend yield, and payout sustainability, then set a simple rebalancing rule once a year for yourself.

The post The “Sleep-Well” TFSA Portfolio for 2026: 3 Blue-Chip Stocks to Buy in January appeared first on The Motley Fool Canada.

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More reading

• 2 Stocks Retirees Should Absolutely Love
• 2 TSX Stocks That Could Turn $20K Into Decades of Reliable Income
• TFSA: 4 Canadian Stocks to Buy Now and Hold Forever
• The Least Sexy Stocks for 2026 (Don’t Even Think About Buying These Unless You Want to Make Money)
• These 2 Stocks Are the Top Opportunities on the TSX Today

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