What could make for a perfect TFSA (Tax-Free Savings Account) pair for 2026 after a somewhat choppy start to the year?
Though it’s tough to pick just two names to pick up for April amid the war in Iran and continued volatility in the tech scene (it’s far better to be in hardware than software stocks, at least in the past year), I think those seeking a more balanced approach may wish to consider coupling a higher-growth risk-on play with a more defensive dividend stock that can hold up better should another market correction hit before the midpoint of the year.
Without further ado, let’s look at a pair of names that might be best bought together for a TFSA or, really, any other account.
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Shopify
First, we have shares of hard-hit e-commerce play Shopify (TSX:SHOP), which is in the midst of a brutal bear market. Of course, the company itself seems to have solid fundamentals, as the rise of agentic commerce is poised to propel Shopify and its merchants.
Still, there’s growing doubt that the moat of any software company can hold up as agentic AI, and vibe coding looks to crank up the disruption. Indeed, with the rise of Claude Code and, more recently, Claude Mythos, questions linger about whether such AI models could offer merchants a different way to conduct business online.
Of course, Shopify is doing its best to stay ahead of the curve, but, at the end of the day, there’s a lot of uncertainty when it comes to the software firms as they look to potentially clash with AI-native disruptors, some of which might have creative ideas up their sleeves and new business models that could transform the industry.
At this point, it’s getting really hard to tell what’s up next. And it’s primarily the haze of uncertainty surrounding software and AI’s impact that’s causing such brutal selling activity in recent months, at least in my view. Could AI-native companies get the better of software companies forced to defend?
For Shopify, the management team is too stellar to count out, especially as they continue to innovate in AI. Arguably, Shopify is one of the most AI-forward companies in Canada. And as the dust settles on the software sell-off, I think SHOP stock could rise suddenly and without warning. Though it might be wiser to wait for the shares to bottom out, I think that pairing a risk-on, falling-knife play with a steady dividend payer might be worthwhile.
Fortis
Fortis (TSX:FTS) stock is the ultimate boring defensive dividend play. To some, it’s a bond proxy that’s far more rewarding than your average bond fund. With decent growth projects, you’re also getting a good amount of growth compared to most other flat-growing stalwarts.
With a 3.2% yield and a solid amount of momentum behind the stock (up 53% in two years), I wouldn’t be afraid to buy, even at near a high. When paired with a risk-on play, like Shopify, I like the risk/reward scenario that much more for long-term investors. With a low 0.44 beta and the ability to ride out geopolitical chaos, I’d look to the name as one of the better ways to batten down the hatches while collecting a growing dividend every quarter.
