Looking to diversify beyond IWDL? The ETFs below have historically moved differently from IWDL, 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 IWDL
344 ETFs have low correlation with IWDL (below 0.3), 43 of which are negatively correlated.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Defiance Daily Target 2X Short MSTR ETF | -0.39 | — | — | 52 | Inverse Equities | IWDL vs SMST | |
| T-REX 2X Inverse MSTR Daily Target ETF | -0.38 | — | — | 61 | Inverse Equities, Leveraged Equities | IWDL vs MSTZ | |
| ProShares Short Bitcoin ETF | -0.38 | -0.32 | — | 61 | Cryptocurrency | IWDL vs BITI | |
| Proshares Ultrashort Bitcoin ETF | -0.37 | — | — | 55 | Cryptocurrency, Leveraged Cryptocurrency | IWDL vs SBIT | |
| YieldMax MSTR Short Option Income Strategy ETF | -0.36 | — | — | 75 | Derivative Income | IWDL vs WNTR |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for IWDL, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| BrightSpring Health Services, Inc | 0.39 | — | — | 98 | Healthcare | |
| Interactive Brokers Group, Inc. | 0.47 | 0.41 | 0.48 | 73 | Financial Services |
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