Looking to diversify beyond DAFRX? The mutual funds below have historically moved differently from DAFRX, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
Best Diversifiers for DAFRX
10 mutual funds have low correlation with DAFRX (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 -0.04, down from 0.12 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Federated Hermes Project and Trade Finance Tender ... | -0.04 | 0.04 | 0.12 | 92 | Bank Loan | DAFRX vs XPTFX | |
| Dunham Monthly Distribution Fund | 0.07 | 0.16 | 0.18 | 87 | Event Driven | DAFRX vs DAMDX | |
| Calamos Aksia Alternative Credit and Income Fund C... | 0.09 | — | — | 99 | Bank Loan | DAFRX vs CAPIX | |
| Cliffwater Corporate Lending Fund Class I Shares | 0.17 | 0.19 | 0.19 | 100 | Bank Loan, High Yield Bonds | DAFRX vs CCLFX | |
| Federated Hermes Floating Rate Strat Inc Fund | 0.19 | 0.22 | 0.41 | 89 | Bank Loan | DAFRX vs FFRSX |
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