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

Mutual Fund · Currency in USD · Last updated Jul 14, 2026

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 the lowest correlation with EADOX — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from EADOX.

Best Diversifiers for EADOX

4 mutual funds have low correlation with EADOX (below 0.3), 0 of which are negatively correlated. The least correlated is River Canyon Total Return Bond Fund (RCTIX) (Short-Term Bond) with a 1Y correlation of 0.16, roughly unchanged from 0.10 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
RCTIX
River Canyon Total Return Bond Fund0.160.060.10
82
Short-Term BondEADOX vs RCTIX
EDF
Virtus Stone Harbor Emerging Markets Income Fund0.230.210.26
57
Emerging Markets BondsEADOX vs EDF
EIMAX
Eaton Vance Massachusetts Municipal Income Fund0.240.130.16
77
Municipal BondsEADOX vs EIMAX
FFRHX
Fidelity Floating Rate High Income Fund0.260.250.34
93
Bank LoanEADOX vs FFRHX
QNZIX
AQR Trend Total Return Fund Class I0.330.23—
93
Systematic TrendEADOX vs QNZIX
See all 36 diversifiers for EADOX

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Low-Correlation Stock Ideas

If you're looking for individual stocks that move independently from EADOX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to EADOX and solid risk/return profiles. The least correlated is CareTrust REIT, Inc. (CTRE) (Real Estate) with a 1Y correlation of 0.11, roughly unchanged from 0.13 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankSector
CTRE
CareTrust REIT, Inc.0.110.100.13
84
Real Estate

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Diversification Analysis

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