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Harding Loevner International Small Companies Portfolio (HLMSX) Diversifiers

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

The investment seeks long-term capital appreciation. The fund invests in small companies based outside the U.S., including companies in emerging and frontier as well as in developed markets. It invests at least 80% of its net assets (plus any borrowings for investment purposes) in common stocks, preferred stocks, rights and warrants issued by small companies that are based outside the United States, securities convertible into such securities (including Depositary Receipts), and investment companies that invest in the types of securities in which the Portfolio would normally invest. The fund normally holds investments across at least 15 countries.

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

Best Diversifiers for HLMSX

0 mutual funds have low correlation with HLMSX (below 0.3), 0 of which are negatively correlated. The least correlated is Pear Tree Polaris International Opportunities Fund (QISIX) (Foreign Small & Mid Cap Equities) with a 1Y correlation of 0.57, down from 0.72 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
QISIX
Pear Tree Polaris International Opportunities Fund0.570.690.72
50
Foreign Small & Mid Cap EquitiesHLMSX vs QISIX
HRIOX
Hood River International Opportunity Fund0.630.64—
95
Foreign Small & Mid Cap EquitiesHLMSX vs HRIOX
HRIIX
Hood River International Opportunity Fund Investor...0.63——
95
Foreign Small & Mid Cap EquitiesHLMSX vs HRIIX
HLMEX
Harding Loevner Institutional Emerging Markets Por...0.670.690.72
84
Emerging Markets DiversifiedHLMSX vs HLMEX
ADVLX
Vaughan Nelson International Small Cap Fund0.710.750.82
63
Foreign Small & Mid Cap EquitiesHLMSX vs ADVLX
See all 17 diversifiers for HLMSX

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