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Mesirow High Yield Fund (MFHVX) Diversifiers

Mutual Fund · Currency in USD · Last updated Jun 23, 2026

The investment seeks to provide a high level of current income consistent with the preservation of principal. Under normal circumstances, the fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in high yield instruments (also known as "junk bonds") and other financial instruments with economic characteristics similar to such instruments, such as derivatives and exchange-traded funds ("ETFs"). The fund may invest the remainder of its assets in investment grade instruments including securities issued or guaranteed by the U.S. government and its agencies or instrumentalities, municipal bonds, corporate bonds, and etc.

Looking to diversify beyond MFHVX? The mutual funds below have the lowest correlation with MFHVX — 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 MFHVX.

Best Diversifiers for MFHVX

6 mutual funds have low correlation with MFHVX (below 0.3), 0 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.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
XILSX
Pioneer ILS Interval Fund0.01-0.05-0.01
100
High Yield BondsMFHVX vs XILSX
CCLFX
Cliffwater Corporate Lending Fund0.100.110.14
100
High Yield BondsMFHVX vs CCLFX
RPHIX
RiverPark Short Term High Yield Fund0.150.240.26
99
High Yield BondsMFHVX vs RPHIX
RCRYX
Pioneer Corporate High Yield Fund0.200.480.61
52
High Yield BondsMFHVX vs RCRYX
FHYSX
Federated Hermes High-Yield Strategy Portfolio0.270.450.57
69
High Yield BondsMFHVX vs FHYSX
See all 32 diversifiers for MFHVX

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