Looking to balance out your exposure to BLW? The ETFs below have the lowest correlation with BLW — they tend to move on their own, which can help reduce risk when BLW drops. The stock ideas table highlights individual companies that behave independently from BLW.
Best Diversifiers for BLW
4 ETFs have low correlation with BLW (below 0.3), 0 of which are negatively correlated. The least correlated is Panagram BBB-B CLO ETF (CLOZ) (CLO) with a 1Y correlation of 0.19, roughly unchanged from 0.11 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Panagram BBB-B CLO ETF | 0.19 | 0.12 | 0.11 | 58 | CLO | BLW vs CLOZ | |
| PGIM Floating Rate Income ETF | 0.21 | 0.24 | — | 93 | Bank Loan | BLW vs PFRL | |
| Schwab International Dividend Equity ETF | 0.24 | 0.31 | 0.37 | 59 | Dividend, Foreign Large Cap Equities | BLW vs SCHY | |
| iShares Investment Grade Corporate Bond Buywrite S... | 0.29 | 0.30 | — | 50 | Corporate Bonds | BLW vs LQDW | |
| State Street Blackstone Senior Loan ETF | 0.31 | 0.35 | 0.42 | 53 | Bank Loan, High Yield Bonds | BLW vs SRLN |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from BLW, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to BLW and solid risk/return profiles. The least correlated is BlackRock Health Sciences Trust II (BMEZ) (Financial Services) with a 1Y correlation of 0.26, down from 0.37 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| BlackRock Health Sciences Trust II | 0.26 | 0.28 | 0.37 | 76 | Financial Services | |
| Reaves Utility Income Trust | 0.28 | 0.29 | 0.35 | 75 | Financial Services | |
| BlackRock Capital Allocation Term Trust | 0.32 | 0.33 | 0.42 | 94 | Financial Services | |
| BlackRock Science and Technology Term Trust | 0.35 | 0.30 | 0.40 | 93 | Financial Services | |
| AGNC Investment Corp. | 0.36 | 0.39 | 0.42 | 83 | Real Estate |
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