Looking to diversify beyond HFHIX? The mutual funds below have historically moved differently from HFHIX, 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 HFHIX
14 mutual funds have low correlation with HFHIX (below 0.3), 0 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 0.04, roughly unchanged from 0.08 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 ... | 0.04 | 0.03 | 0.08 | 93 | Bank Loan | HFHIX vs XPTFX | |
| Calamos Aksia Alternative Credit and Income Fund C... | 0.10 | — | — | 99 | Bank Loan | HFHIX vs CAPIX | |
| T. Rowe Price Institutional Floating Rate Fund | 0.21 | 0.30 | 0.55 | 79 | Bank Loan | HFHIX vs RPIFX | |
| Shenkman Capital Floating Rate High Income Fund | 0.21 | 0.25 | 0.48 | 75 | Bank Loan | HFHIX vs SFHIX | |
| RiverPark Floating Rate CMBS Fund | 0.21 | 0.19 | 0.21 | 100 | Bank Loan | HFHIX vs RCRIX |
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