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Fidelity Advisor High Income Fund Class M (FGRMX) Diversifiers

Mutual Fund · Currency in USD · Last updated Jun 23, 2026

The fund normally invests primarily in income producing debt securities, preferred stocks, and convertible securities, with an emphasis on lower-quality debt securities. It potentially invests in non-income producing securities, including defaulted securities and common stocks. The fund invests in companies in troubled or uncertain financial condition. It invests in domestic and foreign issuers.

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

Best Diversifiers for FGRMX

3 mutual funds have low correlation with FGRMX (below 0.3), 0 of which are negatively correlated. The least correlated is Cliffwater Corporate Lending Fund (CCLFX) (High Yield Bonds) with a 1Y correlation of 0.06, roughly unchanged from 0.10 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
CCLFX
Cliffwater Corporate Lending Fund0.060.080.10
100
High Yield BondsFGRMX vs CCLFX
XILSX
Pioneer ILS Interval Fund0.130.080.06
100
High Yield BondsFGRMX vs XILSX
RPHIX
RiverPark Short Term High Yield Fund0.250.210.28
99
High Yield BondsFGRMX vs RPHIX
FSELX
Fidelity Select Semiconductors Portfolio0.460.400.43
96
Semiconductors, Technology EquitiesFGRMX vs FSELX
PRFRX
T. Rowe Price Floating Rate Fund0.470.490.54
96
High Yield BondsFGRMX vs PRFRX
See all 28 diversifiers for FGRMX

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Diversification Analysis

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