PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan

Eaton Vance Short Duration Inflation-Protected Income Fund (EIRRX) Diversifiers

Mutual Fund · Currency in USD · Last updated Jun 23, 2026

The fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in "inflation protected" instruments, which include (i) inflation-indexed debt obligations of varying maturities issued by the United States and non-U.S. governments, their agencies or instrumentalities, corporations and other issuers and (ii) other fixed or floating-rate debt obligations (including junior and senior loans) with respect to which the fund enters into agreements to swap nominal interest payments for payments based on changes in the U.S. Consumer Price Index ("CPI") or other measures of inflation. It is non-diversified.

Looking to diversify beyond EIRRX? The mutual funds below have the lowest correlation with EIRRX — 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 EIRRX.

Best Diversifiers for EIRRX

8 mutual funds have low correlation with EIRRX (below 0.3), 0 of which are negatively correlated. The least correlated is Eaton Vance Emerging Markets Debt Opportunities Fund (EELDX) (Emerging Markets Bonds) with a 1Y correlation of 0.05, roughly unchanged from 0.04 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
EELDX
Eaton Vance Emerging Markets Debt Opportunities Fu...0.05-0.010.04
98
Emerging Markets BondsEIRRX vs EELDX
EGRIX
Eaton Vance Global Macro Absolute Return Advantage...0.180.260.13
98
Nontraditional BondsEIRRX vs EGRIX
EHSTX
Eaton Vance Large-Cap Value Fund0.190.170.20
58
Large Cap Value EquitiesEIRRX vs EHSTX
EEIAX
Eaton Vance Emerging Markets Local Income Fund0.210.260.27
58
Emerging Markets BondsEIRRX vs EEIAX
EIAMX
Eaton Vance Multi-Asset Credit Fund0.220.310.31
87
High Yield BondsEIRRX vs EIAMX
See all 25 diversifiers for EIRRX

To view more results, upgrade your current subscription plan.

Low-Correlation Stock Ideas

If you're looking for individual stocks that move independently from EIRRX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to EIRRX and solid risk/return profiles. The least correlated is ConocoPhillips Company (COP) (Energy) with a 1Y correlation of -0.04, down from 0.18 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankSector
COP
ConocoPhillips Company-0.040.100.18
61
Energy
CAT
Caterpillar Inc.0.020.090.15
99
Industrials
CMI
Cummins Inc.0.060.060.09
97
Industrials
AMZN
Amazon.com, Inc0.120.100.16
52
Consumer Cyclical

Rows per page

1–4 of 4

Diversification Analysis

Build a portfolio that complements EIRRX

Add EIRRX to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.

Analyze a portfolio with EIRRX