Looking to diversify beyond TPHAX? The mutual funds below have historically moved differently from TPHAX, 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 TPHAX
4 mutual funds have low correlation with TPHAX (below 0.3), 2 of which are negatively correlated. The least correlated is Pioneer ILS Interval Fund (XILSX) (High Yield Bonds) with a 1Y correlation of -0.05, roughly unchanged from -0.02 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Pioneer ILS Interval Fund | -0.05 | -0.04 | -0.02 | 100 | High Yield Bonds | TPHAX vs XILSX | |
| Fairholme Focused Income Fund | -0.00 | 0.18 | 0.29 | 73 | High Yield Bonds | TPHAX vs FOCIX | |
| Cliffwater Corporate Lending Fund Class I Shares | 0.12 | 0.09 | 0.13 | 100 | Bank Loan, High Yield Bonds | TPHAX vs CCLFX | |
| RiverPark Short Term High Yield Fund | 0.16 | 0.26 | 0.29 | 100 | High Yield Bonds | TPHAX vs RPHIX | |
| Pioneer Corporate High Yield Fund | 0.31 | 0.59 | 0.71 | 63 | High Yield Bonds | TPHAX vs RCRYX |
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