Looking to diversify beyond HFHIX? The mutual funds below have the lowest correlation with HFHIX — 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 HFHIX.
Best Diversifiers for HFHIX
13 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 0.02, roughly unchanged from 0.08 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Federated Hermes Project and Trade Finance Tender ... | 0.02 | 0.02 | 0.08 | 91 | Bank Loan | HFHIX vs XPTFX | |
| Calamos Aksia Alternative Credit and Income Fund C... | 0.10 | — | — | 98 | Bank Loan | HFHIX vs CAPIX | |
| T. Rowe Price Institutional Floating Rate Fund | 0.19 | 0.31 | 0.55 | 84 | Bank Loan | HFHIX vs RPIFX | |
| Calvert Floating-Rate Advantage Fund | 0.23 | 0.40 | 0.60 | 76 | Bank Loan | HFHIX vs CFOIX | |
| RiverPark Floating Rate CMBS Fund | 0.23 | 0.19 | 0.21 | 100 | Bank Loan | HFHIX vs RCRIX |
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