… so invest in an index ETF
… so invest in bonds
… so invest in EM and small caps — but not sure if correlation is lower
… so invest in individual stocks if allowed. They offer better diversification.

I asked FSM senior mgr. He said the frontier markets are less correlated with the US eq market. More obvious during the EM declines IMO.

He also said bonds in general offer a reasonable diversification from equities.