Looking to diversify beyond HYI? The mutual funds below have historically moved differently from HYI, 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 HYI
7 mutual funds have low correlation with HYI (below 0.3), 0 of which are negatively correlated. The least correlated is Pioneer ILS Interval Fund (XILSX) (High Yield Bonds) with a 1Y correlation of 0.03, roughly unchanged from 0.02 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Pioneer ILS Interval Fund | 0.03 | 0.08 | 0.02 | 100 | High Yield Bonds | HYI vs XILSX | |
| RiverPark Short Term High Yield Fund | 0.03 | 0.02 | 0.09 | 99 | High Yield Bonds | HYI vs RPHIX | |
| RiverNorth Capital and Income Fund | 0.08 | 0.20 | 0.17 | 59 | High Yield Bonds | HYI vs RSF | |
| Cliffwater Corporate Lending Fund Class I Shares | 0.10 | 0.06 | 0.07 | 100 | Bank Loan, High Yield Bonds | HYI vs CCLFX | |
| Fairholme Focused Income Fund | 0.12 | 0.23 | 0.29 | 70 | High Yield Bonds | HYI vs FOCIX |
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