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Manning & Napier High Yield Bond Series (MNHYX) Diversifiers

Mutual Fund · Currency in USD · Last updated Aug 4, 2026
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The fund normally invests at least 80% of its assets in bonds that are rated below investment grade and other financial instruments, principally derivative instruments and exchange-traded funds (ETFs), with economic characteristics similar to non-investment grade securities. These bonds may include U.S. dollar denominated fixed income securities issued by U.S. and foreign corporations and governments, including those in emerging markets. It may invest a portion of its assets in bank loans, which are, generally, non-investment grade floating rate investments.

Looking to diversify beyond MNHYX? The mutual funds below have historically moved differently from MNHYX, 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 MNHYX

6 mutual funds have low correlation with MNHYX (below 0.3), 2 of which are negatively correlated. The least correlated is Pioneer ILS Interval Fund (XILSX) (High Yield Bonds) with a 1Y correlation of -0.08, roughly unchanged from -0.03 over 5 years.

How candidates are selected
SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
XILSX
Pioneer ILS Interval Fund-0.08-0.06-0.03
100
High Yield BondsMNHYX vs XILSX
FOCIX
Fairholme Focused Income Fund-0.040.170.26
70
High Yield BondsMNHYX vs FOCIX
CCLFX
Cliffwater Corporate Lending Fund Class I Shares0.130.110.13
100
Bank Loan, High Yield BondsMNHYX vs CCLFX
RPHIX
RiverPark Short Term High Yield Fund0.170.260.28
99
High Yield BondsMNHYX vs RPHIX
MNDFX
Manning & Napier Disciplined Value Series0.270.320.37
94
Large Cap Value EquitiesMNHYX vs MNDFX
See all 42 diversifiers for MNHYX

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Low-Correlation Stock Ideas

The table shows companies with at least $1B in market capitalization, historical correlation data for MNHYX, 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 Berkshire Hathaway Inc. Class A (BRK-A) (Financial Services) with a 1Y correlation of 0.09, down from 0.24 over 5 years.

How candidates are selected
SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankSector
BRK-A
Berkshire Hathaway Inc. Class A0.090.190.24
61
Financial Services

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Diversification Analysis

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