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Eaton Vance Emerging Markets Debt Opportunities Fund Class A (EADOX) Diversifiers

Mutual Fund · Currency in USD · Last updated Aug 1, 2026
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The mutual fund primarily invests in income instruments issued by emerging market entities or nations, and/or derivative instruments based on the currencies, interest rates, or issues of emerging market countries. Short investment exposures to emerging markets are limited to 20% of net assets, and short exposures to the euro are capped at 30% of net assets after netting corresponding long positions.

Looking to diversify beyond EADOX? The mutual funds below have historically moved differently from EADOX, 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 EADOX

5 mutual funds have low correlation with EADOX (below 0.3), 0 of which are negatively correlated. The least correlated is Fidelity Natural Resources Fund (FNARX) (Energy Equities) with a 1Y correlation of 0.04, down from 0.21 over 5 years.

How candidates are selected
SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
FNARX
Fidelity Natural Resources Fund0.040.130.21
84
Energy EquitiesEADOX vs FNARX
RCTIX
River Canyon Total Return Bond Fund0.180.060.11
85
Short-Term BondEADOX vs RCTIX
AXSIX
Axonic Strategic Income Fund0.230.070.11
94
Multisector BondsEADOX vs AXSIX
FFRHX
Fidelity Floating Rate High Income Fund0.260.240.34
95
Bank LoanEADOX vs FFRHX
EIMAX
Eaton Vance Massachusetts Municipal Income Fund0.280.140.17
78
Municipal BondsEADOX vs EIMAX
See all 43 diversifiers for EADOX

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Low-Correlation Stock Ideas

The table shows companies with at least $1B in market capitalization, historical correlation data for EADOX, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is CareTrust REIT, Inc. (CTRE) (Real Estate) with a 1Y correlation of 0.09, roughly unchanged from 0.13 over 5 years.

How candidates are selected
SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankSector
CTRE
CareTrust REIT, Inc.0.090.090.13
84
Real Estate

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