Looking to diversify beyond FGIYX? The mutual funds below have the lowest correlation with FGIYX — 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 FGIYX.
Best Diversifiers for FGIYX
18 mutual funds have low correlation with FGIYX (below 0.3), 0 of which are negatively correlated. The least correlated is Nuveen Nasdaq 100 Dynamic Overwrite Fund (QQQX) (Derivative Income) with a 1Y correlation of 0.11, down from 0.43 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Nuveen Nasdaq 100 Dynamic Overwrite Fund | 0.11 | 0.27 | 0.43 | 67 | Derivative Income, Options Trading, Nasdaq-100, Large Cap Growth Equities, Actively Managed | FGIYX vs QQQX | |
| Nuveen Short Duration High Yield Municipal Bond Fu... | 0.11 | 0.18 | 0.16 | 82 | High Yield Muni | FGIYX vs NVHIX | |
| Nuveen Preferred Securities & Income Fund | 0.20 | 0.36 | 0.38 | 74 | Preferred Stock/Convertible Bonds | FGIYX vs NPSRX | |
| NXG Cushing® Midstream Energy Fund | 0.21 | 0.29 | 0.39 | 77 | Energy Equities | FGIYX vs SRV | |
| Nuveen Strategic Municipal Opportunities Fund | 0.21 | 0.28 | 0.23 | 67 | High Yield Muni | FGIYX vs NSIOX |
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