Looking to diversify beyond HYT? The mutual funds below have the lowest correlation with HYT — 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 HYT.
Best Diversifiers for HYT
6 mutual funds have low correlation with HYT (below 0.3), 0 of which are negatively correlated. The least correlated is RiverPark Short Term High Yield Fund (RPHIX) (High Yield Bonds) with a 1Y correlation of 0.02, down from 0.14 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| RiverPark Short Term High Yield Fund | 0.02 | 0.06 | 0.14 | 100 | High Yield Bonds | HYT vs RPHIX | |
| BlackRock Global Long/Short Equity Fund Class I | 0.08 | 0.06 | 0.03 | 92 | Long-Short | HYT vs BDMIX | |
| Pioneer ILS Interval Fund | 0.09 | 0.08 | 0.03 | 100 | High Yield Bonds | HYT vs XILSX | |
| Cliffwater Corporate Lending Fund | 0.09 | 0.07 | 0.09 | 100 | High Yield Bonds | HYT vs CCLFX | |
| Federated Hermes High-Yield Strategy Portfolio | 0.19 | 0.28 | 0.43 | 71 | High Yield Bonds | HYT vs FHYSX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from HYT, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to HYT and solid risk/return profiles. The least correlated is Reaves Utility Income Trust (UTG) (Financial Services) with a 1Y correlation of 0.17, down from 0.33 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Reaves Utility Income Trust | 0.17 | 0.27 | 0.33 | 78 | Financial Services | |
| Cohen & Steers Quality Income Realty Fund | 0.27 | 0.38 | 0.47 | 67 | Financial Services | |
| Cohen & Steers Infrastructure Fund, Inc | 0.27 | 0.33 | 0.40 | 63 | Financial Services | |
| AGNC Investment Corp. | 0.32 | 0.36 | 0.42 | 76 | Real Estate | |
| BlackRock Science and Technology Trust II | 0.36 | 0.36 | 0.45 | 95 | Financial Services |
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Build a portfolio that complements HYT
Add HYT to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with HYT