PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan

Strategic Advisers Income Opportunities Fund (FPIOX) Diversifiers

Mutual Fund · Currency in USD · Last updated Jun 23, 2026

The fund normally invests primarily in income-producing debt securities, preferred stocks, and convertible securities, with an emphasis on lower-quality debt securities (those of less than investment-grade quality, also referred to as high yield debt securities or junk bonds). It potentially invests in non-income producing securities, including defaulted securities and common stocks.

Looking to diversify beyond FPIOX? The mutual funds below have the lowest correlation with FPIOX — 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 FPIOX.

Best Diversifiers for FPIOX

3 mutual funds have low correlation with FPIOX (below 0.3), 0 of which are negatively correlated. The least correlated is Pioneer ILS Interval Fund (XILSX) (High Yield Bonds) with a 1Y correlation of 0.09, roughly unchanged from 0.04 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
XILSX
Pioneer ILS Interval Fund0.090.050.04
100
High Yield BondsFPIOX vs XILSX
CCLFX
Cliffwater Corporate Lending Fund0.130.110.11
100
High Yield BondsFPIOX vs CCLFX
RPHIX
RiverPark Short Term High Yield Fund0.180.160.25
99
High Yield BondsFPIOX vs RPHIX
RSIIX
RiverPark Strategic Income Fund0.340.330.39
68
High Yield BondsFPIOX vs RSIIX
RCRYX
Pioneer Corporate High Yield Fund0.360.660.78
52
High Yield BondsFPIOX vs RCRYX
See all 33 diversifiers for FPIOX

To view more results, upgrade your current subscription plan.

Diversification Analysis

Build a portfolio that complements FPIOX

Add FPIOX to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.

Analyze a portfolio with FPIOX