Looking to diversify beyond IEDAX? The mutual funds below have the lowest correlation with IEDAX — 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 IEDAX.
Best Diversifiers for IEDAX
0 mutual funds have low correlation with IEDAX (below 0.3), 0 of which are negatively correlated. The least correlated is Voya Short Term Bond Fund (IISBX) (Short-Term Bond) with a 1Y correlation of 0.30, up from 0.13 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Voya Short Term Bond Fund | 0.30 | 0.18 | 0.13 | 50 | Short-Term Bond | IEDAX vs IISBX | |
| Voya Corporate Leaders Trust Fund | 0.35 | 0.63 | 0.73 | 53 | Large Cap Value Equities | IEDAX vs LEXCX | |
| Buffalo Flexible Income Fund | 0.44 | 0.67 | 0.79 | 71 | Large Cap Value Equities | IEDAX vs BUFBX | |
| Hennessy Cornerstone Value Fund | 0.48 | 0.71 | 0.81 | 89 | Large Cap Value Equities | IEDAX vs HFCVX | |
| Federated Hermes Strategic Value Dividend Fund | 0.49 | 0.65 | 0.75 | 70 | Large Cap Value Equities | IEDAX vs SVAIX |
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