Looking to diversify beyond BFRAX? The mutual funds below have the lowest correlation with BFRAX — 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 BFRAX.
Best Diversifiers for BFRAX
5 mutual funds have low correlation with BFRAX (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 -0.13, down from 0.06 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Federated Hermes Project and Trade Finance Tender ... | -0.13 | -0.03 | 0.06 | 80 | Bank Loan | BFRAX vs XPTFX | |
| AlphaSimplex Managed Futures Strategy Fund Class Y | 0.09 | 0.05 | -0.02 | 67 | Systematic Trend | BFRAX vs ASFYX | |
| BlackRock Global Long/Short Equity Fund Class I | 0.10 | 0.09 | 0.05 | 92 | Long-Short | BFRAX vs BDMIX | |
| Calamos Aksia Alternative Credit and Income Fund C... | 0.14 | — | — | 98 | Bank Loan | BFRAX vs CAPIX | |
| RiverPark Floating Rate CMBS Fund | 0.17 | 0.13 | 0.15 | 100 | Bank Loan | BFRAX vs RCRIX |
See all 31 diversifiers for BFRAX
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