Looking to diversify beyond MAGO? The ETFs below have the lowest correlation with MAGO — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from MAGO.
Best Diversifiers for MAGO
1 ETFs have low correlation with MAGO (below 0.3), 1 of which are negatively correlated. The least correlated is FT Energy Income Partners Enhanced Income ETF (EIPI) (Derivative Income) with a 1Y correlation of -0.33, roughly unchanged from -0.33 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| FT Energy Income Partners Enhanced Income ETF | -0.33 | -0.33 | -0.33 | 75 | Derivative Income | MAGO vs EIPI | |
| FT Vest High Yield & Target Income ETF | 0.57 | 0.57 | 0.57 | 62 | Derivative Income | MAGO vs HYTI | |
| Global X NASDAQ 100 Covered Call ETF | 0.76 | 0.76 | 0.76 | 88 | Nasdaq-100, Derivative Income | MAGO vs QYLD | |
| Invesco QQQ Income Advantage ETF | 0.83 | — | — | 77 | Derivative Income | MAGO vs QQA |
Diversification Analysis
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