A healthy risk tolerance is necessary for most investors who wish to invest in growth stocks. But that doesn't mean you can't buy these stocks if you like to play it safe and are risk-averse. Plenty of low-volatility stocks attract risk-averse and risk-tolerant investors for their blend of growth potential and safety.

A solid waste management company

Waste collection is technically a segment within the industrial sector, but it's almost as safe a business model as utilities. The reason is that it's one of the most essential services available in society. This makes companies like Waste Connections (TSX:WCN) relatively safe (as investments) thanks to a resilient business model against a wide range of market headwinds.

This particular company offers another layer of safety, as it's a giant in this category and one of the largest publicly traded waste management companies around the globe.

Waste Connections stock has been a robust grower practically since its inception. It has risen by around 121% in the last five years alone. But despite this accelerated growth pace and outstripping the market by a significant margin, it boasts a healthy beta of around 0.72, putting it among stable, low-volatility stocks.

A retail chain

Regarding safety, retail stocks can be found on either end of the spectrum. The safest are the ones dealing in essentials like food and medicine, while the relatively unsafe ones exclusively trade in discretionary goods. Dollarama (TSX:DOL) is closer to the safest end of the spectrum.

As a dollar store chain (the largest in the country and one of the largest in Peru), Dollarama mainly sells necessary supplies to a wide range of customers.

Dollarama stock has had an exceptional run in the last decade and returned roughly 729% to its investors over this period. The growth pace has kept up much the same in the previous five years despite the pandemic, which showcases the stock's resilience. Lastly, it has a beta of just 0.54, roughly half as volatile as the market. This makes Dollarama's (informal) risk-to-return ratio quite compelling.

A holding company

George Weston (TSX:WN) is a holding company that has existed for more than 140 years. It holds just two businesses, which are publicly traded entities—Loblaw and Choice Properties.

The rationale is simple enough. Loblaw is one of the largest food and pharmacy retailers in the country, and Choice Properties has a diversified portfolio of commercial properties, most of which are anchored by Loblaw. However, the real estate investment trust (REIT) also has residential properties, making its portfolio adequately diversified.

The underlying businesses, particularly Loblaw, are pretty stable. This stability extends to the parent company and is one of the reasons the stock boasts a beta of just 0.42, making it significantly safe, even when compared to the relatively safe market. The return numbers are impressive, especially for recent years—over 100% in the last five years.

Foolish takeaway

These three stocks offer powerful and predictable growth potential compelling enough, even for daredevil investors. They are also safe and low-volatility enough for conservative investors who prefer to play it safe. This combination makes them desirable holdings for a wide range of Canadian investors.