Looking to diversify beyond FHLSX? The mutual funds below have historically moved differently from FHLSX, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
Best Diversifiers for FHLSX
2 mutual funds have low correlation with FHLSX (below 0.3), 1 of which are negatively correlated. The least correlated is SEI Institutional Managed Trust Multi-Asset Inflation Managed Fund (SIFAX) (Diversified Portfolio) with a 1Y correlation of -0.19, down from 0.15 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| SEI Institutional Managed Trust Multi-Asset Inflat... | -0.19 | 0.03 | 0.15 | 83 | Diversified Portfolio | FHLSX vs SIFAX | |
| MH Elite Small Cap Fund of Funds Fund | 0.02 | 0.12 | 0.37 | 66 | Diversified Portfolio | FHLSX vs MHELX | |
| Concorde Wealth Management Fund | 0.37 | 0.54 | 0.58 | 83 | Diversified Portfolio | FHLSX vs CONWX | |
| Fidelity Advisor Strategic Real Return Fund Class ... | 0.43 | 0.60 | 0.62 | 89 | Diversified Portfolio | FHLSX vs FCSRX | |
| DWS RREEF Real Assets Fund - Class A | 0.43 | 0.61 | 0.65 | 77 | Diversified Portfolio | FHLSX vs AAAAX |
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