Looking to diversify beyond FLOTX? The mutual funds below have historically moved differently from FLOTX, 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 FLOTX
11 mutual funds have low correlation with FLOTX (below 0.3), 1 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 -0.04, roughly unchanged from 0.04 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Federated Hermes Project and Trade Finance Tender ... | -0.04 | 0.05 | 0.04 | 92 | Bank Loan | FLOTX vs XPTFX | |
| Federated Hermes Floating Rate Strat Inc Fund | 0.12 | 0.12 | 0.16 | 89 | Bank Loan | FLOTX vs FFRSX | |
| Calamos Aksia Alternative Credit and Income Fund C... | 0.12 | — | — | 99 | Bank Loan | FLOTX vs CAPIX | |
| RiverPark Floating Rate CMBS Fund | 0.14 | 0.14 | 0.13 | 99 | Bank Loan | FLOTX vs RCRIX | |
| Cliffwater Corporate Lending Fund Class I Shares | 0.18 | 0.15 | 0.14 | 100 | Bank Loan, High Yield Bonds | FLOTX vs CCLFX |
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