Looking to diversify beyond DFLYX? The mutual funds below have historically moved differently from DFLYX, 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 DFLYX
12 mutual funds have low correlation with DFLYX (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 -0.02, down from 0.16 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 ... | -0.02 | 0.08 | 0.16 | 93 | Bank Loan | DFLYX vs XPTFX | |
| Calamos Aksia Alternative Credit and Income Fund C... | 0.12 | — | — | 99 | Bank Loan | DFLYX vs CAPIX | |
| Cliffwater Corporate Lending Fund Class I Shares | 0.12 | 0.18 | 0.20 | 100 | Bank Loan, High Yield Bonds | DFLYX vs CCLFX | |
| SEI Institutional Investments Trust Opportunistic ... | 0.17 | 0.21 | 0.41 | 100 | Ultrashort Bond | DFLYX vs ENIAX | |
| BNY Mellon Natural Resources Fund | 0.17 | 0.19 | 0.23 | 85 | Energy Equities | DFLYX vs DLDRX |
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