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 183 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 82. There are 60 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	100	—	Mar 2019	CPMPX vs CCLFX
RPHIX	RiverPark Short Term High Yield Fund	100	—	Sep 2010	CPMPX vs RPHIX
CWFIX	Chartwell Short Duration High Yield Fund	97	—	Jul 2014	CPMPX vs CWFIX
PSHNX	Penn Capital Short Duration High Income Fund	97	—	Jul 2017	CPMPX vs PSHNX

Top Performing CPMPX Alternatives (YTD)

CPMPX is at 1.14% YTD. There are 164 mutual funds in the High Yield Bonds category with higher YTD returns, going as high as 9.42%.

Symbol	Name	YTD Return	AUM	Inception
XILSX	Pioneer ILS Interval Fund	9.42%	—	Dec 2014	CPMPX vs XILSX
FOCIX	Fairholme Focused Income Fund	8.79%	—	Dec 2009	CPMPX vs FOCIX
FAGIX	Fidelity Capital & Income Fund	7.46%	—	Nov 1977	CPMPX vs FAGIX
FIQTX	Fidelity Advisor High Income Advantage Fund Class ...	6.76%	—	Oct 2018	CPMPX vs FIQTX
FAHCX	Fidelity Advisor High Income Advantage Fund Class ...	6.70%	—	Jul 1995	CPMPX vs FAHCX

Lowest Volatility Alternatives to CPMPX

CPMPX has 1.83% 1-year volatility. There are 6 mutual funds in the High Yield Bonds category with lower 1-year volatility, going as low as 0.85%.

Symbol	Name	Volatility 1Y	AUM	Inception
CCLFX	Cliffwater Corporate Lending Fund	0.85%	—	Mar 2019	CPMPX vs CCLFX
RPHIX	RiverPark Short Term High Yield Fund	0.85%	—	Sep 2010	CPMPX vs RPHIX
CWFIX	Chartwell Short Duration High Yield Fund	1.50%	—	Jul 2014	CPMPX vs CWFIX
SCFIX	Shenkman Capital Short Duration High Income Fund	1.63%	—	Oct 2012	CPMPX vs SCFIX
OSTIX	Osterweis Strategic Income Fund	1.70%	—	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
RPHIX	RiverPark Short Term High Yield Fund	-0.10%	—	Sep 2010	CPMPX vs RPHIX
CCLFX	Cliffwater Corporate Lending Fund	-0.19%	—	Mar 2019	CPMPX vs CCLFX
XILSX	Pioneer ILS Interval Fund	-0.21%	—	Dec 2014	CPMPX vs XILSX
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, THHYX, EIAMX. 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	76	1.75%	—	Jan 1978	CPMPX vs KHYAX
THHYX	Toews Tactical Income Fund	High Yield Bonds	33	0.53%	—	Jun 2010	CPMPX vs THHYX
EIAMX	Eaton Vance Multi-Asset Credit Fund	High Yield Bonds	89	1.90%	—	Oct 2011	CPMPX vs EIAMX
FYAIX	Access Flex High Yield ProFund	High Yield Bonds	29	1.05%	—	Dec 2004	CPMPX vs FYAIX
DCHYX	Dunham High Yield Bond Fund	High Yield Bonds	68	1.54%	—	Jul 2005	CPMPX vs DCHYX
LSIOX	Loomis Sayles High Income Opps Fund	High Yield Bonds	92	2.56%	—	Apr 2004	CPMPX vs LSIOX
SSTHX	Allspring Short-Term High Yield Bond Fund	High Yield Bonds	91	1.72%	—	Feb 2000	CPMPX vs SSTHX
CIF	MFS Intermediate High Income Fund	High Yield Bonds	—	—	—	Jul 1988	CPMPX vs CIF
NHS	Neuberger Berman High Yield Strategies Fund	High Yield Bonds	2	-9.34%	—	Jul 2003	CPMPX vs NHS
IPHYX	Voya High Yield Portfolio	High Yield Bonds	43	1.29%	—	May 2004	CPMPX vs IPHYX
HIX	Western Asset High Income Fund II	High Yield Bonds	8	2.07%	—	May 1998	CPMPX vs HIX
TUHIX	T. Rowe Price U.S. High Yield Fund	High Yield Bonds	59	1.27%	—	Apr 2013	CPMPX vs TUHIX
CPHYX	Principal High Yield Fund	High Yield Bonds	52	1.63%	—	Apr 1998	CPMPX vs CPHYX
FJSYX	Nuveen Credit Income Fund	High Yield Bonds	86	1.76%	—	Aug 2001	CPMPX vs FJSYX
NHINX	Neuberger Berman High Income Bond Fund	High Yield Bonds	59	1.43%	—	Jan 1992	CPMPX vs NHINX
RBNNX	Robinson Opportunistic Income Fund	High Yield Bonds	6	-0.68%	—	Dec 2015	CPMPX vs RBNNX
SHYPX	American Beacon SiM High Yld Opps Fund	High Yield Bonds	97	2.40%	—	Feb 2011	CPMPX vs SHYPX
LHYAX	Lord Abbett High Yield Fund	High Yield Bonds	62	1.81%	—	Dec 1998	CPMPX vs LHYAX
BCAAX	BrandywineGLOBAL - Corporate Credit Fund	High Yield Bonds	38	0.52%	—	Sep 2002	CPMPX vs BCAAX
ISD	PGIM High Yield Bond Fund	High Yield Bonds	3	-7.57%	—	Apr 2012	CPMPX vs ISD

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