Looking to diversify beyond FNWFX? The mutual funds below have historically moved differently from FNWFX, 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 FNWFX
4 mutual funds have low correlation with FNWFX (below 0.3), 0 of which are negatively correlated. The least correlated is MFS Commodity Strategy Fund (MCSIX) (Commodities) with a 1Y correlation of 0.08, down from 0.25 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| MFS Commodity Strategy Fund | 0.08 | 0.21 | 0.25 | 73 | Commodities | FNWFX vs MCSIX | |
| AB High Income Municipal Portfolio | 0.20 | 0.13 | 0.14 | 74 | High Yield Muni | FNWFX vs ABTYX | |
| Goldman Sachs GQG Partners International Opportuni... | 0.23 | 0.58 | 0.70 | 56 | Foreign Large Cap Equities, Emerging Markets Equities | FNWFX vs GSIYX | |
| The Cook & Bynum Fund | 0.28 | 0.42 | 0.52 | 66 | Emerging Markets Equities | FNWFX vs COBYX | |
| PGIM High Yield Fund Class R6 | 0.46 | 0.42 | 0.48 | 65 | High Yield Bonds | FNWFX vs PHYQX |
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