Looking to balance out your exposure to IIM? The ETFs below have the lowest correlation with IIM — they tend to move on their own, which can help reduce risk when IIM drops. The stock ideas table highlights individual companies that behave independently from IIM.
Best Diversifiers for IIM
5 ETFs have low correlation with IIM (below 0.3), 1 of which are negatively correlated. The least correlated is Global X MLP ETF (MLPA) (MLPs) with a 1Y correlation of -0.06, down from 0.15 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Global X MLP ETF | -0.06 | 0.13 | 0.15 | 50 | MLPs | IIM vs MLPA | |
| Schwab U.S. Dividend Equity ETF | 0.15 | 0.26 | 0.27 | 83 | Dividend | IIM vs SCHD | |
| JPMorgan Nasdaq Equity Premium Income ETF | 0.17 | 0.20 | — | 68 | Nasdaq-100, Derivative Income | IIM vs JEPQ | |
| AAM Low Duration Preferred and Income Securities E... | 0.21 | 0.31 | 0.34 | 75 | Preferred Stock/Convertible Bonds | IIM vs PFLD | |
| Franklin International Core Dividend Tilt Index ET... | 0.23 | 0.31 | 0.30 | 63 | Foreign Large Cap Equities, Dividend | IIM vs DIVI |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from IIM, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to IIM and solid risk/return profiles. The least correlated is BP p.l.c. (BP) (Energy) with a 1Y correlation of -0.17, down from 0.06 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| BP p.l.c. | -0.17 | 0.01 | 0.06 | 78 | Energy | |
| Enterprise Products Partners L.P. | -0.12 | 0.09 | 0.14 | 85 | Energy | |
| Energy Transfer LP | -0.09 | 0.09 | 0.11 | 83 | Energy | |
| TORM plc | -0.03 | -0.01 | 0.02 | 90 | Energy | |
| Oxford Lane Capital Corp. 7.125% Series 2029 Term ... | -0.00 | 0.05 | — | 86 | Financial Services |
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