Looking to diversify beyond TAXF? The ETFs below have historically moved differently from TAXF, 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 TAXF
1047 ETFs have low correlation with TAXF (below 0.3), 66 of which are negatively correlated. The least correlated is Invesco DB Energy Fund (DBE) (Oil & Gas) with a 1Y correlation of -0.30, down from -0.08 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco DB Energy Fund | -0.30 | -0.14 | -0.08 | 72 | Oil & Gas | TAXF vs DBE | |
| Invesco DB Oil Fund | -0.30 | -0.13 | -0.08 | 58 | Oil & Gas | TAXF vs DBO | |
| United States Brent Oil Fund LP | -0.28 | -0.13 | -0.08 | 52 | Oil & Gas | TAXF vs BNO | |
| Invesco DB Commodity Index Tracking Fund | -0.26 | -0.10 | -0.04 | 71 | Commodities | TAXF vs DBC | |
| iShares S&P GSCI Commodity-Indexed Trust | -0.26 | -0.10 | -0.05 | 67 | Commodities | TAXF vs GSG |
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