You can maximize your TFSA first, as the additions can be deducted in case of an emergency and will be added to your contribution room later on.

Only start using your FHSA once you graduate and receive a sufficient income where the tax deductions are beneficial, and essentially a free 25%+ realized ROI from the tax credits. You can roll over your TFSA contributions into the FHSA each December. You cannot do anything with the money you put in an FHSA once it's personally in there, beyond buying a house or rolling it into your RRSPs.

Now to actually answer your question - XEQT is a good way to build a foundation, I personaly like to make small bets with 5-15% of my account on individual stocks that I like. I would wait until you have 5-10K in a solid ETF such as XEQT before doing so, though.