Looking to diversify beyond FHYTX? The mutual funds below have the lowest correlation with FHYTX — 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 FHYTX.
Best Diversifiers for FHYTX
10 mutual funds have low correlation with FHYTX (below 0.3), 1 of which are negatively correlated. The least correlated is RiverPark Short Term High Yield Fund (RPHIX) (High Yield Bonds) with a 1Y correlation of -0.00, down from 0.23 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| RiverPark Short Term High Yield Fund | -0.00 | 0.11 | 0.23 | 99 | High Yield Bonds | FHYTX vs RPHIX | |
| Federated Hermes Project and Trade Finance Tender ... | 0.01 | 0.07 | 0.05 | 84 | Bank Loan | FHYTX vs XPTFX | |
| Pioneer ILS Interval Fund | 0.09 | 0.08 | 0.05 | 100 | High Yield Bonds | FHYTX vs XILSX | |
| Cliffwater Corporate Lending Fund | 0.10 | 0.11 | 0.10 | 100 | High Yield Bonds | FHYTX vs CCLFX | |
| Federated Hermes Strategic Value Dividend Fund | 0.14 | 0.33 | 0.41 | 78 | Large Cap Value Equities | FHYTX vs SVAIX |
See all 58 diversifiers for FHYTX
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