Looking to diversify beyond IWL? The ETFs below have historically moved differently from IWL, 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 IWL
460 ETFs have low correlation with IWL (below 0.3), 97 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 | -0.50 | — | — | 52 | Inverse Equities | IWL vs SMST | |
| T-REX 2X Inverse MSTR Daily Target ETF | -0.50 | — | — | 61 | Inverse Equities, Leveraged Equities | IWL vs MSTZ | |
| ProShares Short Bitcoin ETF | -0.48 | -0.36 | — | 61 | Cryptocurrency | IWL vs BITI | |
| YieldMax MSTR Short Option Income Strategy ETF | -0.48 | — | — | 75 | Derivative Income | IWL vs WNTR | |
| Proshares Ultrashort Bitcoin ETF | -0.48 | — | — | 55 | Cryptocurrency, Leveraged Cryptocurrency | IWL vs SBIT |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for IWL, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Murphy USA Inc. (MUSA) (Consumer Cyclical) with a 1Y correlation of -0.21, down from 0.17 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Murphy USA Inc. | -0.21 | 0.05 | 0.17 | 89 | Consumer Cyclical | |
| Cboe Global Markets, Inc. | -0.18 | -0.16 | 0.10 | 69 | Financial Services | |
| Walmart Inc. | -0.09 | 0.17 | 0.28 | 62 | Consumer Defensive | |
| Palo Alto Networks, Inc. | 0.36 | 0.47 | 0.53 | 88 | Technology | |
| Fabrinet | 0.47 | 0.51 | 0.55 | 63 | Technology |
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