CPMPX Alternatives & Similar Mutual Funds

Changing Parameters Fund (CPMPX) belongs to the High Yield Bonds category. Below you'll find alternative mutual funds from the same category, ranked by key criteria, plus funds that investors commonly compare with CPMPX. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.

Cheapest Alternatives to CPMPX

CPMPX charges 2.90% annually. There are 185 mutual funds in the High Yield Bonds category with lower expense ratios, going as low as 0.02%.

Symbol	Name	Expense Ratio	AUM	Inception
FHYSX	Federated Hermes High-Yield Strategy Portfolio	0.02%	—	Dec 2008	CPMPX vs FHYSX
VWEAX	Vanguard High-Yield Corporate Fund Admiral Shares	0.12%	25.80B	Nov 2001	CPMPX vs VWEAX
PIAMX	PIA High Yield (MACS) Fund	0.20%	—	Dec 2017	CPMPX vs PIAMX
VWEHX	Vanguard High-Yield Corporate Fund Investor Shares	0.22%	25.80B	Dec 1978	CPMPX vs VWEHX
CRDOX	Six Circles Credit Opportunities Fund	0.29%	—	Nov 2020	CPMPX vs CRDOX

Best Risk-Adjusted Alternatives to CPMPX

CPMPX has a PortfoliosLab risk / return rank of 80. There are 53 mutual funds in the High Yield Bonds category with higher risk-adjusted ranks, going as high as 100.

Symbol	Name	Risk / Return Rank	AUM	Inception
XILSX	Pioneer ILS Interval Fund	100	—	Dec 2014	CPMPX vs XILSX
CCLFX	Cliffwater Corporate Lending Fund Class I Shares	100	—	Jun 2019	CPMPX vs CCLFX
RPHIX	RiverPark Short Term High Yield Fund	100	—	Sep 2010	CPMPX vs RPHIX
ICMUX	Intrepid Income Fund	97	—	Aug 2010	CPMPX vs ICMUX
PSHNX	Penn Capital Short Duration High Income Fund	97	—	Jul 2017	CPMPX vs PSHNX

Top Performing CPMPX Alternatives (YTD)

CPMPX is at 0.85% YTD. There are 143 mutual funds in the High Yield Bonds category with higher YTD returns, going as high as 10.04%.

Symbol	Name	YTD Return	AUM	Inception
XILSX	Pioneer ILS Interval Fund	10.04%	—	Dec 2014	CPMPX vs XILSX
FOCIX	Fairholme Focused Income Fund	9.48%	—	Dec 2009	CPMPX vs FOCIX
FAGIX	Fidelity Capital & Income Fund	5.47%	—	Nov 1977	CPMPX vs FAGIX
JGH	Nuveen Global High Income Fund	5.11%	—	Nov 2014	CPMPX vs JGH
FIQTX	Fidelity Advisor High Income Advantage Fund Class ...	4.93%	—	Oct 2018	CPMPX vs FIQTX

Lowest Volatility Alternatives to CPMPX

CPMPX has 1.85% 1-year volatility. There are 6 mutual funds in the High Yield Bonds category with lower 1-year volatility, going as low as 0.83%.

Symbol	Name	Volatility 1Y	AUM	Inception
RPHIX	RiverPark Short Term High Yield Fund	0.83%	—	Sep 2010	CPMPX vs RPHIX
CCLFX	Cliffwater Corporate Lending Fund Class I Shares	0.85%	—	Jun 2019	CPMPX vs CCLFX
CWFIX	Chartwell Short Duration High Yield Fund	1.51%	—	Jul 2014	CPMPX vs CWFIX
SCFIX	Shenkman Capital Short Duration High Income Fund	1.64%	—	Oct 2012	CPMPX vs SCFIX
OSTIX	Osterweis Strategic Income Fund	1.77%	—	Aug 2002	CPMPX vs OSTIX

Lowest Drawdown Alternatives to CPMPX

CPMPX has a 1-year max drawdown of -1.31%. There are 13 mutual funds in the High Yield Bonds category with shallower 1-year drawdowns, going as shallow as -0.10%.

Symbol	Name	Max Drawdown 1Y	AUM	Inception
XILSX	Pioneer ILS Interval Fund	-0.10%	—	Dec 2014	CPMPX vs XILSX
RPHIX	RiverPark Short Term High Yield Fund	-0.10%	—	Sep 2010	CPMPX vs RPHIX
CCLFX	Cliffwater Corporate Lending Fund Class I Shares	-0.19%	—	Jun 2019	CPMPX vs CCLFX
MDHVX	MainStay MacKay Short Duration High Yield Fund	-1.06%	—	Dec 2012	CPMPX vs MDHVX
SCFIX	Shenkman Capital Short Duration High Income Fund	-1.11%	—	Oct 2012	CPMPX vs SCFIX

Often Compared With CPMPX

Investors most often compare CPMPX with KHYAX, EIAMX, THHYX. These 20 comparison targets span 1 categories, based on PortfoliosLab usage data.

Symbol	Name	Category	Risk / Return Rank	YTD Return	AUM	Inception
KHYAX	DWS High Income Fund	High Yield Bonds	64	0.83%	—	Jan 1978	CPMPX vs KHYAX
EIAMX	Eaton Vance Multi-Asset Credit Fund	High Yield Bonds	90	1.59%	—	Oct 2011	CPMPX vs EIAMX
THHYX	Toews Tactical Income Fund	High Yield Bonds	26	-0.03%	—	Jun 2010	CPMPX vs THHYX
FYAIX	Access Flex High Yield ProFund	High Yield Bonds	28	0.66%	—	Dec 2004	CPMPX vs FYAIX
LSIOX	Loomis Sayles High Income Opps Fund	High Yield Bonds	91	2.33%	—	Apr 2004	CPMPX vs LSIOX
DCHYX	Dunham High Yield Bond Fund	High Yield Bonds	55	0.94%	—	Jul 2005	CPMPX vs DCHYX
SSTHX	Allspring Short-Term High Yield Bond Fund	High Yield Bonds	88	1.46%	—	Feb 2000	CPMPX vs SSTHX
NHS	Neuberger Berman High Yield Strategies Fund	High Yield Bonds	2	-10.96%	—	Jul 2003	CPMPX vs NHS
HIX	Western Asset High Income Fund II	High Yield Bonds	11	1.52%	—	May 1998	CPMPX vs HIX
IPHYX	Voya High Yield Portfolio	High Yield Bonds	44	0.59%	—	May 2004	CPMPX vs IPHYX
TUHIX	T. Rowe Price U.S. High Yield Fund	High Yield Bonds	42	0.42%	—	Apr 2013	CPMPX vs TUHIX
FJSYX	Nuveen Credit Income Fund	High Yield Bonds	86	1.30%	—	Aug 2001	CPMPX vs FJSYX
CPHYX	Principal High Yield Fund	High Yield Bonds	46	0.87%	—	Apr 1998	CPMPX vs CPHYX
NHINX	Neuberger Berman High Income Bond Fund	High Yield Bonds	57	0.63%	—	Jan 1992	CPMPX vs NHINX
RBNNX	Robinson Opportunistic Income Fund	High Yield Bonds	4	-1.56%	—	Dec 2015	CPMPX vs RBNNX
LHYAX	Lord Abbett High Yield Fund	High Yield Bonds	57	0.83%	—	Dec 1998	CPMPX vs LHYAX
SHYPX	American Beacon SiM High Yld Opps Fund	High Yield Bonds	96	1.75%	—	Feb 2011	CPMPX vs SHYPX
BCAAX	BrandywineGLOBAL - Corporate Credit Fund	High Yield Bonds	37	-0.16%	—	Sep 2002	CPMPX vs BCAAX
ISD	PGIM High Yield Bond Fund	High Yield Bonds	1	-9.89%	—	Apr 2012	CPMPX vs ISD
BSL	Blackstone Senior Floating Rate 2027 Term Fund	High Yield Bonds	3	-0.14%	—	May 2010	CPMPX vs BSL

Compare CPMPX with Any Fund or Stock

Compare CPMPX with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.

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Diversifiers

Pair CPMPX with funds that move differently

Changing Parameters Fund alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to CPMPX.

Explore CPMPX Diversifiers

Changing Parameters Fund (CPMPX) Alternatives