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Hennessy Balanced Fund (HBFBX) Diversifiers

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

The fund invests approximately 50% of its assets in roughly equal dollar amounts in the ten highest dividend-yielding Dow Jones Industrial Average ("DJIA") stocks (known as the "Dogs of the Dow"), but limits exposure to market risk and volatility by investing approximately 50% of its assets in U.S. Treasury securities with a maturity of less than one year. It is non-diversified.

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

Best Diversifiers for HBFBX

8 mutual funds have low correlation with HBFBX (below 0.3), 1 of which are negatively correlated. The least correlated is MH Elite Small Cap Fund of Funds Fund (MHELX) (Diversified Portfolio) with a 1Y correlation of -0.07, down from 0.36 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
MHELX
MH Elite Small Cap Fund of Funds Fund-0.070.090.36
67
Diversified PortfolioHBFBX vs MHELX
EKBAX
Allspring Diversified Capital Builder Fund0.160.350.50
95
Diversified PortfolioHBFBX vs EKBAX
STDAX
SEI Asset Allocation Trust Defensive Strategy Allo...0.170.250.28
99
Diversified PortfolioHBFBX vs STDAX
BLNDX
Standpoint Multi-Asset Fund Institutional0.200.340.42
81
Diversified PortfolioHBFBX vs BLNDX
SCLAX
SEI Institutional Managed Trust Multi-Asset Capita...0.260.410.48
77
Diversified PortfolioHBFBX vs SCLAX
See all 28 diversifiers for HBFBX

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Low-Correlation Stock Ideas

If you're looking for individual stocks that move independently from HBFBX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to HBFBX and solid risk/return profiles. The least correlated is Gilead Sciences, Inc. (GILD) (Healthcare) with a 1Y correlation of 0.39, roughly unchanged from 0.45 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankSector
GILD
Gilead Sciences, Inc.0.390.430.45
61
Healthcare

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Diversification Analysis

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