Looking to diversify beyond ICEUX? The mutual funds below have historically moved differently from ICEUX, 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 ICEUX
1 mutual funds have low correlation with ICEUX (below 0.3), 0 of which are negatively correlated. The least correlated is MainStay Floating Rate Fund (MXFIX) (Bank Loan) with a 1Y correlation of 0.26, roughly unchanged from 0.26 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| MainStay Floating Rate Fund | 0.26 | 0.23 | 0.26 | 56 | Bank Loan | ICEUX vs MXFIX | |
| MainStay MacKay Short Term Municipal Fund | 0.34 | 0.21 | 0.16 | 65 | Municipal Bonds | ICEUX vs MSTIX | |
| MainStay CBRE Real Estate Fund | 0.35 | 0.45 | 0.51 | 51 | REIT | ICEUX vs CRARX | |
| Federated Hermes International Strategic Value Div... | 0.51 | 0.61 | 0.70 | 88 | Foreign Large Cap Equities | ICEUX vs IVFIX | |
| MainStay MacKay High Yield Corporate Bond Fund Cla... | 0.54 | 0.52 | 0.55 | 59 | High Yield Bonds | ICEUX vs MHCAX |
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