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Fidelity Convertible Securities Fund (FCVSX) Diversifiers

Mutual Fund · Currency in USD · Last updated Jun 4, 2026

The fund normally invests at least 80% of assets in convertible securities, which are often lower-quality debt securities and perform more like a stock when the underlying share price is high and more like a bond when the underlying share price is low. It invests in other types of securities, including common stocks. The fund invests in domestic and foreign issuers. The advisor uses fundamental analysis of factors such as each issuer's financial condition and industry position, as well as market and economic conditions, to select investments.

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

Best Diversifiers for FCVSX

3 mutual funds have low correlation with FCVSX (below 0.3), 0 of which are negatively correlated. The least correlated is Fidelity Floating Rate High Income Fund (FFRHX) (High Yield Bonds) with a 1Y correlation of 0.22, down from 0.35 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
FFRHX
Fidelity Floating Rate High Income Fund0.220.280.35
92
High Yield BondsFCVSX vs FFRHX
PFINX
PIMCO Preferred and Capital Securities Fund0.260.340.36
74
Preferred Stock/Convertible BondsFCVSX vs PFINX
HSTRX
Hussman Strategic Total Return Fund0.280.310.34
90
Tactical AllocationFCVSX vs HSTRX
LPXZX
Cohen & Steers Low Duration Preferred and Income F...0.300.340.35
84
Preferred Stock/Convertible BondsFCVSX vs LPXZX
PCSFX
Principal Capital Securities Fund0.310.300.33
77
Preferred Stock/Convertible BondsFCVSX vs PCSFX
See all 51 diversifiers for FCVSX

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Low-Correlation Stock Ideas

If you're looking for individual stocks that move independently from FCVSX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FCVSX and solid risk/return profiles. The least correlated is American Airlines Group Inc. (AAL) (Industrials) with a 1Y correlation of 0.49, roughly unchanged from 0.54 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankSector
AAL
American Airlines Group Inc.0.490.480.54
51
Industrials
DAL
Delta Air Lines, Inc.0.540.540.58
80
Industrials

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Diversification Analysis

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