Looking to diversify beyond FIHBX? The mutual funds below have the lowest correlation with FIHBX — 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 FIHBX.
Best Diversifiers for FIHBX
19 mutual funds have low correlation with FIHBX (below 0.3), 0 of which are negatively correlated. The least correlated is Federated Hermes Project and Trade Finance Tender Fund (XPTFX) (Bank Loan) with a 1Y correlation of 0.01, roughly unchanged from 0.02 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Federated Hermes Project and Trade Finance Tender ... | 0.01 | 0.04 | 0.02 | 84 | Bank Loan | FIHBX vs XPTFX | |
| RiverPark Short Term High Yield Fund | 0.03 | 0.10 | 0.23 | 99 | High Yield Bonds | FIHBX vs RPHIX | |
| Pioneer ILS Interval Fund | 0.06 | 0.07 | 0.04 | 100 | High Yield Bonds | FIHBX vs XILSX | |
| Cliffwater Corporate Lending Fund | 0.09 | 0.11 | 0.11 | 100 | High Yield Bonds | FIHBX vs CCLFX | |
| Federated Hermes Strategic Value Dividend Fund | 0.10 | 0.30 | 0.34 | 78 | Large Cap Value Equities | FIHBX vs SVAIX |
See all 70 diversifiers for FIHBX
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