Looking to diversify beyond WAVLX? The mutual funds below have historically moved differently from WAVLX, 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 WAVLX
7 mutual funds have low correlation with WAVLX (below 0.3), 1 of which are negatively correlated. The least correlated is Artisan Global Unconstrained Fund (APFPX) (Nontraditional Bonds) with a 1Y correlation of -0.12, up from -0.27 over 3 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Artisan Global Unconstrained Fund | -0.12 | -0.27 | — | 99 | Nontraditional Bonds | WAVLX vs APFPX | |
| Victory Pioneer Cat Bond Fund Class Y | 0.04 | — | — | 100 | Nontraditional Bonds | WAVLX vs CBYYX | |
| Putnam Mortgage Opportunities Fund | 0.05 | 0.04 | 0.10 | 88 | Nontraditional Bonds | WAVLX vs PMOTX | |
| PGIM Securitized Credit Fund | 0.08 | -0.03 | 0.00 | 100 | Nontraditional Bonds | WAVLX vs SCFZX | |
| Cliffwater Enhanced Lending Fund | 0.12 | 0.10 | 0.07 | 100 | Nontraditional Bonds | WAVLX vs CELFX |
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