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First Eagle High Income Fund (FEHIX) Diversifiers

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

To pursue its investment objective, the fund normally invests at least 80% of its net assets (plus any borrowings for investment purposes) in debt instruments that are below investment grade, commonly known as “high yield” or “junk” bonds. It may invest in, and count for the purposes of this 80% allotment, unrated securities or other instruments deemed by the fund's Adviser to be below investment grade.

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

Best Diversifiers for FEHIX

15 mutual funds have low correlation with FEHIX (below 0.3), 1 of which are negatively correlated. The least correlated is Cliffwater Corporate Lending Fund (CCLFX) (High Yield Bonds) with a 1Y correlation of -0.08, down from 0.04 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
CCLFX
Cliffwater Corporate Lending Fund-0.08-0.030.04
100
High Yield BondsFEHIX vs CCLFX
RPHIX
RiverPark Short Term High Yield Fund0.000.050.17
100
High Yield BondsFEHIX vs RPHIX
RCRYX
Pioneer Corporate High Yield Fund0.080.420.63
55
High Yield BondsFEHIX vs RCRYX
XILSX
Pioneer ILS Interval Fund0.100.110.08
100
High Yield BondsFEHIX vs XILSX
FESCX
First Eagle Small Cap Opportunity Fund0.190.19—
83
Small Cap Value EquitiesFEHIX vs FESCX
See all 38 diversifiers for FEHIX

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Diversification Analysis

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