PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan

Muzinich U.S. High Yield Credit Fund (MZHSX) Diversifiers

Mutual Fund · Currency in USD · Last updated Jun 3, 2026

The fund normally invests at least 80% of its net assets in high yield credit issued by companies with a domicile or principle place of business in the U.S. The advisor typically focuses on debt instruments rated below investment grade, defined as below BBB- or Baa3 by Standard & Poor’s, Fitch or Moody’s, as applicable, or which are deemed equivalent by the Advisor.

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

Best Diversifiers for MZHSX

4 mutual funds have low correlation with MZHSX (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.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
XILSX
Pioneer ILS Interval Fund-0.08-0.07-0.03
100
High Yield BondsMZHSX vs XILSX
CCLFX
Cliffwater Corporate Lending Fund-0.000.110.12
100
High Yield BondsMZHSX vs CCLFX
RCRYX
Pioneer Corporate High Yield Fund0.130.560.72
58
High Yield BondsMZHSX vs RCRYX
RPHIX
RiverPark Short Term High Yield Fund0.210.260.31
100
High Yield BondsMZHSX vs RPHIX
FHYSX
Federated Hermes High-Yield Strategy Portfolio0.300.570.73
74
High Yield BondsMZHSX vs FHYSX
See all 26 diversifiers for MZHSX

To view more results, upgrade your current subscription plan.

Diversification Analysis

Build a portfolio that complements MZHSX

Add MZHSX to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.

Analyze a portfolio with MZHSX