Looking to diversify beyond MFHIX? The mutual funds below have the lowest correlation with MFHIX — 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 MFHIX.
Best Diversifiers for MFHIX
4 mutual funds have low correlation with MFHIX (below 0.3), 1 of which are negatively correlated. The least correlated is Pioneer ILS Interval Fund (XILSX) (High Yield Bonds) with a 1Y correlation of -0.01, roughly unchanged from 0.01 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Pioneer ILS Interval Fund | -0.01 | -0.02 | 0.01 | 100 | High Yield Bonds | MFHIX vs XILSX | |
| Cliffwater Corporate Lending Fund | 0.07 | 0.13 | 0.14 | 100 | High Yield Bonds | MFHIX vs CCLFX | |
| RiverPark Short Term High Yield Fund | 0.07 | 0.20 | 0.23 | 100 | High Yield Bonds | MFHIX vs RPHIX | |
| Federated Hermes High-Yield Strategy Portfolio | 0.23 | 0.46 | 0.57 | 71 | High Yield Bonds | MFHIX vs FHYSX | |
| T. Rowe Price Floating Rate Fund | 0.39 | 0.41 | 0.50 | 96 | High Yield Bonds | MFHIX vs PRFRX |
See all 21 diversifiers for MFHIX
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