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BlackRock Energy Opportunities Fund (BACIX) Diversifiers

Mutual Fund · Currency in USD · Last updated Jun 3, 2026

The fund invests at least 80% of its total assets in equity securities of global energy and natural resources companies and companies in associated businesses, as well as utilities (such as gas, water, cable, electrical and telecommunications utilities). It will concentrate its investments (i.e., invest more than 25% of its assets) in energy or natural resources companies. The fund may invest without limit in companies located anywhere in the world and will generally invest in at least three countries and in companies tied economically to a number of countries. It is non-diversified.

Looking to diversify beyond BACIX? The mutual funds below have the lowest correlation with BACIX — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from BACIX.

Best Diversifiers for BACIX

12 mutual funds have low correlation with BACIX (below 0.3), 7 of which are negatively correlated. The least correlated is Fidelity Blue Chip Growth Fund (FBGRX) (Large Cap Growth Equities) with a 1Y correlation of -0.17, down from 0.23 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
FBGRX
Fidelity Blue Chip Growth Fund-0.170.080.23
75
Large Cap Growth EquitiesBACIX vs FBGRX
NASDX
Shelton Capital Management Nasdaq-100 Index Fund D...-0.120.090.20
76
Large Cap Growth EquitiesBACIX vs NASDX
VTMFX
Vanguard Tax-Managed Balanced Fund Admiral Shares-0.080.190.32
81
Diversified PortfolioBACIX vs VTMFX
WFSPX
iShares S&P 500 Index Fund-0.060.200.33
74
S&P 500BACIX vs WFSPX
VTCLX
Vanguard Tax-Managed Capital Appreciation Fund Adm...-0.050.200.34
70
Large Cap Blend EquitiesBACIX vs VTCLX
See all 33 diversifiers for BACIX

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Low-Correlation Stock Ideas

If you're looking for individual stocks that move independently from BACIX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to BACIX and solid risk/return profiles. The least correlated is NVIDIA Corporation (NVDA) (Technology) with a 1Y correlation of -0.09, down from 0.15 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankSector
NVDA
NVIDIA Corporation-0.090.040.15
82
Technology

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Diversification Analysis

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