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Federated Hermes Capital Income Fund (CAPAX) Diversifiers

Mutual Fund · Currency in USD · Last updated Jun 23, 2026

The investment seeks current income and long-term growth of income; capital appreciation is a secondary objective. The fund pursues its investment objectives by investing in both equity and fixed-income securities that have relatively high current income potential. The fund's investment adviser or sub-adviser ("Adviser") divides the fund's portfolio between equity and fixed-income investments by first allocating an amount to fixed-income investments sufficient to achieve a minimum income consistent with the fund's strategy of emphasizing relatively high current income potential.

Looking to diversify beyond CAPAX? The mutual funds below have the lowest correlation with CAPAX — 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 CAPAX.

Best Diversifiers for CAPAX

14 mutual funds have low correlation with CAPAX (below 0.3), 0 of which are negatively correlated. The least correlated is Concorde Wealth Management Fund (CONWX) (Diversified Portfolio) with a 1Y correlation of 0.06, down from 0.61 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
CONWX
Concorde Wealth Management Fund0.060.400.61
55
Diversified PortfolioCAPAX vs CONWX
FSIRX
Fidelity Advisor Strategic Real Return Fund Class ...0.110.430.56
86
Diversified PortfolioCAPAX vs FSIRX
FSRKX
Fidelity Strategic Real Return Fund Class K60.110.440.56
88
Diversified PortfolioCAPAX vs FSRKX
FCSRX
Fidelity Advisor Strategic Real Return Fund Class ...0.120.440.56
82
Diversified PortfolioCAPAX vs FCSRX
FIQDX
Fidelity Advisor Strategic Real Return Fund Class ...0.120.430.56
88
Diversified PortfolioCAPAX vs FIQDX
See all 35 diversifiers for CAPAX

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Diversification Analysis

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