Looking to diversify beyond ISCAX? The mutual funds below have historically moved differently from ISCAX, 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 ISCAX
13 mutual funds have low correlation with ISCAX (below 0.3), 1 of which are negatively correlated. The least correlated is Federated Hermes Project and Trade Finance Tender Fund (XPTFX) (Bank Loan) with a 1Y correlation of -0.02, roughly unchanged from 0.04 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Federated Hermes Project and Trade Finance Tender ... | -0.02 | 0.07 | 0.04 | 92 | Bank Loan | ISCAX vs XPTFX | |
| Federated Hermes Conservative Municipal Microshort... | 0.12 | 0.13 | 0.09 | 99 | Municipal Bonds | ISCAX vs FHMIX | |
| Federated Hermes Floating Rate Strat Inc Fund | 0.15 | 0.15 | 0.29 | 89 | Bank Loan | ISCAX vs FFRSX | |
| Federated Hermes Conservative Microshort Fund | 0.19 | 0.13 | 0.08 | 99 | Ultrashort Bond | ISCAX vs FHCOX | |
| Federated Hermes Equity Income Fund | 0.19 | 0.47 | 0.62 | 68 | Dividend, Large Cap Value Equities | ISCAX vs LEIFX |
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