Looking to diversify beyond FSFHX? The mutual funds below have the lowest correlation with FSFHX — 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 FSFHX.
Best Diversifiers for FSFHX
3 mutual funds have low correlation with FSFHX (below 0.3), 0 of which are negatively correlated. The least correlated is Cliffwater Corporate Lending Fund (CCLFX) (High Yield Bonds) with a 1Y correlation of 0.05, roughly unchanged from 0.10 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Cliffwater Corporate Lending Fund | 0.05 | 0.09 | 0.10 | 100 | High Yield Bonds | FSFHX vs CCLFX | |
| Pioneer ILS Interval Fund | 0.13 | 0.10 | 0.08 | 100 | High Yield Bonds | FSFHX vs XILSX | |
| RiverPark Short Term High Yield Fund | 0.20 | 0.18 | 0.25 | 100 | High Yield Bonds | FSFHX vs RPHIX | |
| T. Rowe Price Floating Rate Fund | 0.39 | 0.46 | 0.53 | 96 | High Yield Bonds | FSFHX vs PRFRX | |
| Federated Hermes High-Yield Strategy Portfolio | 0.39 | 0.67 | 0.80 | 71 | High Yield Bonds | FSFHX vs FHYSX |
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