Looking to diversify beyond AFRAX? The mutual funds below have historically moved differently from AFRAX, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
Best Diversifiers for AFRAX
16 mutual funds have low correlation with AFRAX (below 0.3), 1 of which are negatively correlated. The least correlated is Federated Hermes Project and Trade Finance Tender Fund (XPTFX) (Bank Loan) with a 1Y correlation of -0.08, down from 0.07 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Federated Hermes Project and Trade Finance Tender ... | -0.08 | -0.01 | 0.07 | 93 | Bank Loan | AFRAX vs XPTFX | |
| Invesco Comstock Fund | 0.02 | 0.17 | 0.22 | 83 | Large Cap Value Equities | AFRAX vs ACSTX | |
| Invesco Small Cap Value Fund | 0.02 | 0.16 | 0.22 | 76 | Small Cap Value Equities | AFRAX vs VSCAX | |
| Invesco Value Opportunities Fund | 0.03 | 0.15 | 0.22 | 74 | Mid Cap Value Equities | AFRAX vs VVOAX | |
| Invesco Equity and Income Fund | 0.04 | 0.19 | 0.24 | 74 | Diversified Portfolio | AFRAX vs ACEIX |
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