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iShares S&P 500 Index Fund Class K (WFSPX) Diversifiers

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

The fund is a "feeder" fund that invests all of its assets in the Master Portfolio of MIP, which has the same investment objective and strategies as the fund. At least 90% of the value of the fund's assets is invested in securities comprising the S&P 500 Index. The percentage of the fund's assets invested in a given stock is approximately the same as the percentage such stock represents in the S&P 500 Index.

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

Best Diversifiers for WFSPX

24 mutual funds have low correlation with WFSPX (below 0.3), 1 of which are negatively correlated. The least correlated is SEI Institutional Managed Trust Tax-Free Conservative Income Fund (TFCYX) (Municipal Bonds) with a 1Y correlation of -0.05, roughly unchanged from 0.02 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
TFCYX
SEI Institutional Managed Trust Tax-Free Conservat...-0.050.010.02
99
Municipal BondsWFSPX vs TFCYX
PBAIX
BlackRock Tactical Opportunities Fund Institutiona...0.040.260.19
75
Tactical AllocationWFSPX vs PBAIX
PCBAX
BlackRock Tactical Opportunities Fund0.040.260.20
72
Macro TradingWFSPX vs PCBAX
BIIPX
iShares Short-Term TIPS Bond Index Fund0.050.080.11
55
Inflation-Protected BondsWFSPX vs BIIPX
BBSOX
BlackRock Short Obligations Fund0.130.050.06
99
Ultrashort BondWFSPX vs BBSOX
See all 274 diversifiers for WFSPX

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Low-Correlation Stock Ideas

If you're looking for individual stocks that move independently from WFSPX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to WFSPX and solid risk/return profiles. The least correlated is NVIDIA Corporation (NVDA) (Technology) with a 1Y correlation of 0.53, roughly unchanged from 0.63 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankSector
NVDA
NVIDIA Corporation0.530.570.63
76
Technology

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Diversification Analysis

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