Looking to diversify beyond FIWDX? The mutual funds below have the lowest correlation with FIWDX — 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 FIWDX.
Best Diversifiers for FIWDX
4 mutual funds have low correlation with FIWDX (below 0.3), 0 of which are negatively correlated. The least correlated is Nationwide Amundi Strategic Income Fund (NWXHX) (Multisector Bonds) with a 1Y correlation of 0.10, roughly unchanged from 0.17 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Nationwide Amundi Strategic Income Fund | 0.10 | 0.28 | 0.17 | 99 | Multisector Bonds | FIWDX vs NWXHX | |
| JPMorgan Strategic Income Opportunities Fund Class... | 0.20 | -0.20 | -0.25 | 99 | Total Bond Market | FIWDX vs JSOSX | |
| Vanguard Ultra-Short-Term Bond Fund Investor Share... | 0.27 | 0.37 | 0.43 | 100 | Total Bond Market | FIWDX vs VUBFX | |
| Vanguard Short-Term Inflation-Protected Securities... | 0.27 | 0.48 | 0.48 | 93 | Inflation-Protected Bonds | FIWDX vs VTIPX | |
| Fidelity Flex Conservative Income Bond Fund | 0.36 | 0.33 | 0.33 | 99 | Total Bond Market | FIWDX vs FJTDX |
See all 46 diversifiers for FIWDX
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Diversification Analysis
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