Looking to diversify beyond FEVIX? The mutual funds below have historically moved differently from FEVIX, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
Best Diversifiers for FEVIX
4 mutual funds have low correlation with FEVIX (below 0.3), 0 of which are negatively correlated. The least correlated is MH Elite Small Cap Fund of Funds Fund (MHELX) (Diversified Portfolio) with a 1Y correlation of 0.04, down from 0.47 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| MH Elite Small Cap Fund of Funds Fund | 0.04 | 0.13 | 0.47 | 66 | Diversified Portfolio | FEVIX vs MHELX | |
| SEI Institutional Managed Trust Multi-Asset Inflat... | 0.16 | 0.24 | 0.32 | 83 | Diversified Portfolio | FEVIX vs SIFAX | |
| First Eagle High Yield Municipal Fund Class A | 0.27 | 0.20 | 0.32 | 64 | High Yield Muni | FEVIX vs FEHAX | |
| First Eagle High Income Fund | 0.29 | 0.20 | 0.32 | 70 | High Yield Bonds | FEVIX vs FEHIX | |
| First Eagle Short Duration High Yield Municipal Fu... | 0.33 | — | — | 73 | High Yield Muni | FEVIX vs FDUAX |
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