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Virtus Stone Harbor Emerging Mkts Debt (SHMDX) Diversifiers

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

The investment seeks to maximize total return, which consists of income and capital appreciation. The fund normally will invest at least 80% of its net assets (plus any borrowings made for investment purposes) in Emerging Markets Fixed Income Securities. It may invest in securities of any credit rating (including unrated securities) and may invest without limit in higher risk, below-investment grade debt securities, commonly referred to as "high yield" securities or "junk bonds." The Adviser normally maintains an average portfolio duration of between 2 and 7 years.

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

Best Diversifiers for SHMDX

1 mutual funds have low correlation with SHMDX (below 0.3), 0 of which are negatively correlated. The least correlated is Virtus Stone Harbor Emerging Markets Income Fund (EDF) (Emerging Markets Bonds) with a 1Y correlation of 0.28, roughly unchanged from 0.32 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
EDF
Virtus Stone Harbor Emerging Markets Income Fund0.280.260.32
63
Emerging Markets BondsSHMDX vs EDF
DBLLX
DoubleLine Low Duration Emerging Markets Fixed Inc...0.490.560.60
98
Emerging Markets BondsSHMDX vs DBLLX
EELDX
Eaton Vance Emerging Markets Debt Opportunities Fu...0.640.510.52
98
Emerging Markets BondsSHMDX vs EELDX
APFOX
Artisan Emerging Markets Debt Opportunities Fund0.650.53—
97
Emerging Markets BondsSHMDX vs APFOX
DBLEX
DoubleLine Emerging Markets Fixed Income Fund0.660.730.75
90
Emerging Markets BondsSHMDX vs DBLEX
See all 17 diversifiers for SHMDX

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Low-Correlation Stock Ideas

If you're looking for individual stocks that move independently from SHMDX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to SHMDX and solid risk/return profiles. The least correlated is NVIDIA Corporation (NVDA) (Technology) with a 1Y correlation of 0.20, roughly unchanged from 0.24 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankSector
NVDA
NVIDIA Corporation0.200.160.24
76
Technology
ETN
Eaton Corporation plc0.250.200.24
69
Industrials
TSM
Taiwan Semiconductor Manufacturing Company Limited0.340.240.26
95
Technology
LRCX
Lam Research Corporation0.350.230.26
99
Technology

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