Looking to diversify beyond IOBZX? The mutual funds below have historically moved differently from IOBZX, 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 IOBZX
2 mutual funds have low correlation with IOBZX (below 0.3), 0 of which are negatively correlated. The least correlated is Nationwide Strategic Income A (NWXEX) (Multisector Bonds) with a 1Y correlation of 0.24, roughly unchanged from 0.24 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Nationwide Strategic Income A | 0.24 | 0.28 | 0.24 | 99 | Multisector Bonds | IOBZX vs NWXEX | |
| CrossingBridge Low Duration High Yield Fund | 0.25 | 0.28 | 0.28 | 96 | Multisector Bonds | IOBZX vs CBLDX | |
| Nationwide Amundi Strategic Income Fund | 0.31 | 0.29 | 0.23 | 99 | Multisector Bonds | IOBZX vs NWXHX | |
| Easterly Income Opportunities Fund | 0.36 | 0.45 | 0.45 | 82 | Multisector Bonds | IOBZX vs JSVIX | |
| ICON Natural Resources and Infrastructure Fund | 0.39 | 0.38 | 0.35 | 80 | Infrastructure Equities, Energy Equities | IOBZX vs ICBMX |
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