Looking to diversify beyond GIFIX? The mutual funds below have historically moved differently from GIFIX, 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 GIFIX
5 mutual funds have low correlation with GIFIX (below 0.3), 1 of which are negatively correlated. The least correlated is Federated Hermes Project and Trade Finance Tender Fund (XPTFX) (Bank Loan) with a 1Y correlation of -0.13, down from 0.06 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Federated Hermes Project and Trade Finance Tender ... | -0.13 | -0.04 | 0.06 | 93 | Bank Loan | GIFIX vs XPTFX | |
| Guggenheim Managed Futures Strategy Fund | 0.10 | 0.13 | 0.06 | 56 | Systematic Trend | GIFIX vs RYMTX | |
| RiverPark Floating Rate CMBS Fund | 0.11 | 0.12 | 0.17 | 100 | Bank Loan | GIFIX vs RCRIX | |
| Calamos Aksia Alternative Credit and Income Fund C... | 0.12 | — | — | 99 | Bank Loan | GIFIX vs CAPIX | |
| Guggenheim Limited Duration Fund | 0.26 | 0.22 | 0.28 | 94 | Short-Term Bond | GIFIX vs GILHX |
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