Looking to diversify beyond FHAIX? The mutual funds below have the lowest correlation with FHAIX — 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 FHAIX.
Best Diversifiers for FHAIX
7 mutual funds have low correlation with FHAIX (below 0.3), 1 of which are negatively correlated. The least correlated is Pioneer ILS Interval Fund (XILSX) (High Yield Bonds) with a 1Y correlation of -0.00, roughly unchanged from 0.02 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Pioneer ILS Interval Fund | -0.00 | 0.01 | 0.02 | 100 | High Yield Bonds | FHAIX vs XILSX | |
| Cliffwater Corporate Lending Fund | 0.02 | 0.06 | 0.09 | 100 | High Yield Bonds | FHAIX vs CCLFX | |
| RiverPark Short Term High Yield Fund | 0.16 | 0.15 | 0.22 | 100 | High Yield Bonds | FHAIX vs RPHIX | |
| Fidelity Advisor Floating Rate High Income Fund Cl... | 0.19 | 0.24 | 0.35 | 94 | High Yield Bonds | FHAIX vs FIQSX | |
| Fidelity Series Floating Rate High Income Fund | 0.22 | 0.22 | 0.34 | 93 | High Yield Bonds | FHAIX vs FFHCX |
See all 30 diversifiers for FHAIX
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