Looking to diversify beyond RFRAX? The mutual funds below have historically moved differently from RFRAX, 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 RFRAX
10 mutual funds have low correlation with RFRAX (below 0.3), 2 of which are negatively correlated. The least correlated is Federated Hermes Project and Trade Finance Tender Fund (XPTFX) (Bank Loan) with a 1Y correlation of -0.11, down from 0.09 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Federated Hermes Project and Trade Finance Tender ... | -0.11 | -0.01 | 0.09 | 93 | Bank Loan | RFRAX vs XPTFX | |
| Vanguard Short-Term Treasury Index Fund Admiral Sh... | -0.02 | -0.01 | 0.01 | 93 | Government Bonds | RFRAX vs VSBSX | |
| Cliffwater Corporate Lending Fund Class I Shares | 0.11 | 0.12 | 0.17 | 100 | Bank Loan, High Yield Bonds | RFRAX vs CCLFX | |
| Invesco AMT-Free Municipal Fund | 0.16 | 0.20 | 0.25 | 73 | Municipal Bonds | RFRAX vs OPTAX | |
| RiverPark Floating Rate CMBS Fund | 0.16 | 0.12 | 0.17 | 100 | Bank Loan | RFRAX vs RCRIX |
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