Looking to diversify beyond FLSP? The ETFs below have historically moved differently from FLSP, 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 FLSP
2240 ETFs have low correlation with FLSP (below 0.3), 821 of which are negatively correlated. The least correlated is BNY Mellon Ultra Short Income ETF (BKUI) (Ultrashort Bond) with a 1Y correlation of -0.20, down from -0.08 over 3 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| BNY Mellon Ultra Short Income ETF | -0.20 | -0.08 | — | 99 | Ultrashort Bond | FLSP vs BKUI | |
| First Trust Low Duration Mortgage Opportunities ET... | -0.19 | -0.06 | -0.05 | 91 | Mortgage Backed Securities | FLSP vs LMBS | |
| WisdomTree Yield Enhanced U.S. Short-Term Aggregat... | -0.19 | -0.05 | -0.07 | 75 | Short-Term Bond | FLSP vs SHAG | |
| State Street My2027 Municipal Bond ETF | -0.18 | — | — | 97 | Municipal Bonds | FLSP vs MYMG | |
| iShares iBonds 1-5 Year TIPS Ladder ETF | -0.18 | — | — | 85 | Inflation-Protected Bonds | FLSP vs LDRI |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for FLSP, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Cohen & Steers Quality Income Realty Fund, Inc. (RQI) (Financial Services) with a 1Y correlation of 0.06, roughly unchanged from 0.07 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Cohen & Steers Quality Income Realty Fund, Inc. | 0.06 | 0.04 | 0.07 | 66 | Financial Services | |
| Reaves Utility Income Trust | 0.11 | 0.07 | 0.06 | 55 | Financial Services | |
| Cohen & Steers Infrastructure Fund, Inc | 0.14 | 0.06 | 0.08 | 74 | Financial Services |
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