PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan

FPA New Income Fund (FPNIX) Diversifiers

Mutual Fund · Currency in USD · Last updated Jul 14, 2026

The fund primarily invests in a diversified portfolio of debt securities, cash and cash equivalents. It generally invests in highly rated debt securities and will invest at least 75% of its total assets, calculated at market value at the time of purchase, in debt securities rated at least A- or its equivalent by a NRSRO. The fund may invest up to 25% of its total assets, calculated at market value at the time of purchase, in debt securities that are rated below A- or its equivalent by a NRSRO or that are unrated.

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

Best Diversifiers for FPNIX

11 mutual funds have low correlation with FPNIX (below 0.3), 2 of which are negatively correlated. The least correlated is Fidelity Floating Rate High Income Fund (FFRHX) (Bank Loan) with a 1Y correlation of -0.12, down from 0.03 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
FFRHX
Fidelity Floating Rate High Income Fund-0.12-0.000.03
93
Bank LoanFPNIX vs FFRHX
LCCMX
Leader Short Term High Yield Bond Fund-0.020.050.11
82
Short-Term BondFPNIX vs LCCMX
RPIFX
T. Rowe Price Institutional Floating Rate Fund0.010.120.12
82
Bank LoanFPNIX vs RPIFX
SCFZX
PGIM Securitized Credit Fund0.080.010.01
100
Nontraditional BondsFPNIX vs SCFZX
DFCFX
DFA Two-Year Fixed Income Portfolio0.160.070.30
100
Short-Term BondFPNIX vs DFCFX
See all 35 diversifiers for FPNIX

To view more results, upgrade your current subscription plan.

Low-Correlation Stock Ideas

If you're looking for individual stocks that move independently from FPNIX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FPNIX and solid risk/return profiles. The least correlated is Realty Income Corporation (O) (Real Estate) with a 1Y correlation of 0.22, roughly unchanged from 0.23 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankSector
O
Realty Income Corporation0.220.280.23
74
Real Estate

Rows per page

1–1 of 1

Diversification Analysis

Build a portfolio that complements FPNIX

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

Analyze a portfolio with FPNIX