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BlackRock Health Sciences Opportunities Portfolio (SHSAX) Diversifiers

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

The investment seeks to provide long-term growth of capital. The fund invests at least 80% of its total assets in equity securities, primarily common stock, of companies in health sciences and related industries. The health sciences sector can include companies in health care equipment and supplies, health care providers and services, biotechnology, and pharmaceuticals. It will concentrate its investments (i.e., invest more than 25% of its assets) in health sciences or related industries, and may invest in companies located in non-U.S. countries.

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

Best Diversifiers for SHSAX

4 mutual funds have low correlation with SHSAX (below 0.3), 1 of which are negatively correlated. The least correlated is Invesco Energy Fund (FSTEX) (Energy Equities) with a 1Y correlation of -0.03, down from 0.18 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
FSTEX
Invesco Energy Fund-0.030.090.18
71
Energy EquitiesSHSAX vs FSTEX
BDMIX
BlackRock Global Long/Short Equity Fund Class I0.110.100.08
91
Long-ShortSHSAX vs BDMIX
ASFYX
AlphaSimplex Managed Futures Strategy Fund Class Y0.170.150.04
67
Systematic TrendSHSAX vs ASFYX
NASDX
Shelton Capital Management Nasdaq-100 Index Fund D...0.270.400.52
76
Large Cap Growth EquitiesSHSAX vs NASDX
MXISX
Great-West S&P Small Cap 600 Index Fund0.440.430.50
52
Small Cap Blend EquitiesSHSAX vs MXISX
See all 24 diversifiers for SHSAX

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Low-Correlation Stock Ideas

If you're looking for individual stocks that move independently from SHSAX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to SHSAX and solid risk/return profiles. The least correlated is Royce Value Trust Inc. (RVT) (Financial Services) with a 1Y correlation of 0.41, down from 0.54 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankSector
RVT
Royce Value Trust Inc.0.410.470.54
86
Financial Services

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