While the TSX Composite Index is continuing to make new record highs in 2025, investors are still navigating a volatile market environment. Global trade tensions, geopolitical conflicts, and unpredictable macroeconomic signals are keeping many investors on edge. In uncertain times like these, stability becomes the most valuable asset in your portfolio. That’s why adding some fundamentally strong safe stocks to your portfolio could be a wise decision.
In this article, let’s take a look at two safe stocks that not only offer protection in today’s volatile environment but also have room to grow in the months and years ahead.
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Dollarama stock
When it comes to safe stocks, Dollarama (TSX: DOL) looks like one of those reliable picks that could keep producing results over the long run. The company runs more than 1,600 discount retail stores across Canada and also has just over a 60% stake in the Latin American chain Dollarcity. Its fixed pricing on daily necessities and seasonal goods helps drive steady foot traffic, no matter how the economy’s performing.
In the latest quarter (ended in April 2025), Dollarama’s sales rose 8.2% YoY (year-over-year) to $1.5 billion. More importantly, continued demand for consumables and solid seasonal performance also helped it post a strong 27% YoY jump in its earnings to $0.98 per share. At the same time, the company’s adjusted quarterly net profit margin also improved to 17.3% from 15.4% a year ago.
These strong numbers could be one of the reasons why Dollarama stock has gained nearly 60% over the last year and is now trading at $193.74 per share. That gives it a market cap of around $53.7 billion.
With a strong store expansion plan in place and its first Mexican stores under Dollarcity launching soon, Dollarama is still in growth mode. It’s also on track to close its acquisition of Australia’s largest discount retailer, The Reject Shop, by the end of July. This could open up more international growth opportunities for Dollarama, while helping its share price soar.
Brookfield Renewable stock
The second safe pick that you can consider right now is Brookfield Renewable Partners (TSX: BEP.UN). This global renewables operator runs a massive portfolio of hydro, wind, solar, and energy storage assets across four continents, and it’s constantly expanding. In fact, it just wrapped up the privatization of Neoen and plans to acquire National Grid Renewables, adding thousands of megawatts of power generation capacity to its platform.
On the surface, a US$197 million loss in the first quarter of 2025 may seem disappointing, but Brookfield Renewable’s fundamentals remain intact. Notably, the company generated $315 million in funds from operations for the quarter, reflecting a 7% YoY increase per unit.
After surging by around 20% over the last two months, Brookfield Renewable stock currently trades at $35.58 per share, giving it a market cap of about $10.1 billion. The stock also rewards investors with attractive quarterly dividends with its annualized yield currently sitting at a solid 5.7%.
Overall, Brookfield Renewable’s mix of long-term contracts, inflation-linked revenues, and a pipeline packed with future growth makes it a really attractive and safe pick in today’s unpredictable market.
