Looking to diversify beyond FGIYX? The mutual funds below have historically moved differently from FGIYX, 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 FGIYX
17 mutual funds have low correlation with FGIYX (below 0.3), 0 of which are negatively correlated. The least correlated is Nuveen Short Duration High Yield Municipal Bond Fund (NVHIX) (High Yield Muni) with a 1Y correlation of 0.10, roughly unchanged from 0.16 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Nuveen Short Duration High Yield Municipal Bond Fu... | 0.10 | 0.17 | 0.16 | 88 | High Yield Muni | FGIYX vs NVHIX | |
| Nuveen Nasdaq 100 Dynamic Overwrite Fund | 0.12 | 0.28 | 0.42 | 63 | Derivative Income, Options Trading, Nasdaq-100, Large Cap Growth Equities, Actively Managed | FGIYX vs QQQX | |
| Nuveen Preferred Securities & Income Fund | 0.17 | 0.35 | 0.38 | 69 | Preferred Stock | FGIYX vs NPSRX | |
| Nuveen Strategic Municipal Opportunities Fund | 0.21 | 0.27 | 0.23 | 65 | High Yield Muni | FGIYX vs NSIOX | |
| Nuveen High Yield Municipal Bond Fund Class R6 | 0.21 | 0.27 | 0.24 | 88 | High Yield Muni | FGIYX vs NHMFX |
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