Looking to diversify beyond ETY? The mutual funds below have the lowest correlation with ETY — 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 ETY.
Best Diversifiers for ETY
41 mutual funds have low correlation with ETY (below 0.3), 0 of which are negatively correlated. The least correlated is Parametric Commodity Strategy Fund Class A (EAPCX) (Commodities) with a 1Y correlation of 0.04, down from 0.18 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Parametric Commodity Strategy Fund Class A | 0.04 | 0.14 | 0.18 | 89 | Commodities | ETY vs EAPCX | |
| Parametric Commodity Strategy Fund Class I | 0.04 | 0.13 | 0.18 | 89 | Commodities | ETY vs EIPCX | |
| Eaton Vance Global Macro Absolute Return Fund | 0.08 | 0.16 | 0.07 | 99 | Nontraditional Bonds | ETY vs EIGMX | |
| Eaton Vance California Municipal Opportunities Fun... | 0.11 | 0.12 | 0.11 | 60 | Municipal Bonds | ETY vs EICAX | |
| Parametric TABS Intermediate-Term Municipal Bond F... | 0.11 | 0.14 | 0.12 | 69 | Municipal Bonds | ETY vs ETIIX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from ETY, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to ETY and solid risk/return profiles. The least correlated is Verizon Communications Inc. (VZ) (Communication Services) with a 1Y correlation of -0.04, down from 0.13 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Verizon Communications Inc. | -0.04 | 0.03 | 0.13 | 59 | Communication Services | |
| Ellington Financial Inc. | 0.25 | 0.41 | 0.44 | 69 | Real Estate | |
| Capital Southwest Corporation | 0.39 | 0.41 | 0.44 | 76 | Financial Services | |
| BlackRock Science and Technology Trust II | 0.53 | 0.61 | 0.65 | 95 | Financial Services | |
| BlackRock Science and Technology Trust | 0.68 | 0.69 | 0.71 | 88 | Financial Services |
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Build a portfolio that complements ETY
Add ETY to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
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