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Fidelity Advisor Floating Rate High Income Fund Class M (FFRTX) Diversifiers

Mutual Fund · Currency in USD · Last updated Jul 11, 2026

The fund invests atleast 80% of assets in floating rate loans, which are often lower-quality debt securities and other floating rate securities. It invests in companies in troubled or uncertain financial condition. The fund invests in money market and investment-grade debt securities and repurchase agreements. It invests in domestic and foreign issuers. The adviser uses fundamental analysis of each issuer's financial condition and industry position and market and economic conditions to select investments.

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

Best Diversifiers for FFRTX

10 mutual funds have low correlation with FFRTX (below 0.3), 0 of which are negatively correlated. The least correlated is RiverPark Short Term High Yield Fund (RPHIX) (High Yield Bonds) with a 1Y correlation of 0.09, roughly unchanged from 0.16 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
RPHIX
RiverPark Short Term High Yield Fund0.090.100.16
100
High Yield BondsFFRTX vs RPHIX
VFSUX
Vanguard Short-Term Investment-Grade Fund Admiral ...0.140.130.15
71
Total Bond MarketFFRTX vs VFSUX
CCLFX
Cliffwater Corporate Lending Fund0.160.100.15
100
High Yield BondsFFRTX vs CCLFX
XILSX
Pioneer ILS Interval Fund0.160.100.07
100
High Yield BondsFFRTX vs XILSX
CPMPX
Changing Parameters Fund0.230.250.27
82
High Yield BondsFFRTX vs CPMPX
See all 33 diversifiers for FFRTX

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Diversification Analysis

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