Looking to diversify beyond HYS? The ETFs below have the lowest correlation with HYS — 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 HYS.
Best Diversifiers for HYS
191 ETFs have low correlation with HYS (below 0.3), 39 of which are negatively correlated. The least correlated is ProShares UltraShort Yen (YCS) (Leveraged Currency) with a 1Y correlation of -0.34, down from -0.21 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares UltraShort Yen | -0.34 | -0.23 | -0.21 | 63 | Leveraged Currency | HYS vs YCS | |
| United States Gasoline Fund LP | -0.30 | -0.05 | 0.06 | 55 | Oil & Gas | HYS vs UGA | |
| F/m Ultrashort Treasury Inflation-Protected Securi... | -0.19 | — | — | 97 | Inflation-Protected Bonds | HYS vs RBIL | |
| VanEck Commodity Strategy ETF | -0.18 | 0.04 | — | 57 | Commodities | HYS vs PIT | |
| PIMCO Commodity Strategy Active Exchange-Traded Fu... | -0.18 | 0.05 | — | 50 | Commodities | HYS vs CMDT |
To view more results, upgrade your current subscription plan.
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from HYS, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to HYS and solid risk/return profiles. The least correlated is Eaton Vance Tax-Managed Buy-Write Opportunities Fund (ETV) (Financial Services) with a 1Y correlation of 0.51, roughly unchanged from 0.56 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Eaton Vance Tax-Managed Buy-Write Opportunities Fu... | 0.51 | 0.50 | 0.56 | 80 | Financial Services |
Build a portfolio that complements HYS
Add HYS to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with HYS