Looking to diversify beyond FHHIX? The mutual funds below have the lowest correlation with FHHIX — 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 FHHIX.
Best Diversifiers for FHHIX
4 mutual funds have low correlation with FHHIX (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 | FHHIX vs XILSX | |
| Cliffwater Corporate Lending Fund | 0.14 | 0.13 | 0.14 | 100 | High Yield Bonds | FHHIX vs CCLFX | |
| RiverPark Short Term High Yield Fund | 0.18 | 0.19 | 0.26 | 99 | High Yield Bonds | FHHIX vs RPHIX | |
| Federated Hermes Strategic Value Dividend Fund | 0.28 | 0.40 | 0.41 | 78 | Large Cap Value Equities | FHHIX vs SVAIX | |
| T. Rowe Price Floating Rate Fund | 0.32 | 0.36 | 0.46 | 96 | High Yield Bonds | FHHIX vs PRFRX |
See all 23 diversifiers for FHHIX
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