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John Hancock Financial Industries Fund (FIDAX) Diversifiers

Mutual Fund · Currency in USD · Last updated Jun 3, 2026

The fund normally invests at least 80% of its net assets in equity securities of U.S. and foreign financial services companies of any size. These companies include, but are not limited to, banks, thrifts, finance and financial technology companies, brokerage and advisory firms, real estate related firms, insurance companies, and financial holding companies. It may invest in U.S. and foreign bonds, including up to 5% of net assets in below-investment-grade bonds rated as low as CCC by S&P Global Ratings or Caa by Moody's Investors Service, Inc. and their unrated equivalents.

Looking to diversify beyond FIDAX? The mutual funds below have the lowest correlation with FIDAX — 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 FIDAX.

Best Diversifiers for FIDAX

3 mutual funds have low correlation with FIDAX (below 0.3), 0 of which are negatively correlated. The least correlated is Federated Hermes Municipal Ultra Short Fund (FMUSX) (Municipal Bonds) with a 1Y correlation of 0.10, roughly unchanged from 0.04 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
FMUSX
Federated Hermes Municipal Ultra Short Fund0.100.080.04
61
Municipal BondsFIDAX vs FMUSX
ASFYX
AlphaSimplex Managed Futures Strategy Fund Class Y0.280.170.12
67
Systematic TrendFIDAX vs ASFYX
BDMIX
BlackRock Global Long/Short Equity Fund Class I0.280.150.09
91
Long-ShortFIDAX vs BDMIX
CMNIX
Calamos Market Neutral Income Fund Institutional C...0.340.440.60
98
FIDAX vs CMNIX
NASDX
Shelton Capital Management Nasdaq-100 Index Fund D...0.490.470.55
76
Large Cap Growth EquitiesFIDAX vs NASDX
See all 14 diversifiers for FIDAX

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Diversification Analysis

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