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American Century High Income Fund (NPHIX) Diversifiers

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

The investment seeks current yield and capital growth. The fund invests primarily in high-yield corporate bonds and other debt instruments with an emphasis on those that are rated below investment-grade. A high-yield security, or junk bond, is one that has been rated below the four highest categories used by a nationally recognized statistical rating organization, or, if unrated, determined by the investment advisor to be of similar quality. It may invest up to 20% of its net assets in bank loan investments. The fund may invest in fixed-income instruments of foreign issuers, including emerging market issuers.

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

Best Diversifiers for NPHIX

3 mutual funds have low correlation with NPHIX (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 0.07, roughly unchanged from 0.04 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
XILSX
Pioneer ILS Interval Fund0.070.070.04
100
High Yield BondsNPHIX vs XILSX
CCLFX
Cliffwater Corporate Lending Fund0.090.110.11
100
High Yield BondsNPHIX vs CCLFX
RPHIX
RiverPark Short Term High Yield Fund0.200.180.27
99
High Yield BondsNPHIX vs RPHIX
RCRYX
Pioneer Corporate High Yield Fund0.350.680.79
52
High Yield BondsNPHIX vs RCRYX
PRFRX
T. Rowe Price Floating Rate Fund0.390.450.52
96
High Yield BondsNPHIX vs PRFRX
See all 30 diversifiers for NPHIX

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