Looking to diversify beyond FHIFX? The mutual funds below have the lowest correlation with FHIFX — 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 FHIFX.
Best Diversifiers for FHIFX
3 mutual funds have low correlation with FHIFX (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 0.07, roughly unchanged from 0.10 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Cliffwater Corporate Lending Fund | 0.07 | 0.11 | 0.10 | 100 | High Yield Bonds | FHIFX vs CCLFX | |
| Pioneer ILS Interval Fund | 0.08 | 0.09 | 0.06 | 100 | High Yield Bonds | FHIFX vs XILSX | |
| RiverPark Short Term High Yield Fund | 0.24 | 0.18 | 0.26 | 100 | High Yield Bonds | FHIFX vs RPHIX | |
| Fidelity Sustainable Low Duration Bond | 0.40 | 0.36 | — | 99 | Ultrashort Bond | FHIFX vs FAPGX | |
| RiverPark Strategic Income Fund | 0.41 | 0.36 | 0.39 | 68 | High Yield Bonds | FHIFX vs RSIIX |
See all 37 diversifiers for FHIFX
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Diversification Analysis
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