These are the assets investors are turning to for protection in the market's latest rout

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Hedging instruments and safe havens are in the spotlight as stock and bond prices suffer.

This year's market volatility has left investors few places to hide, weighing on stocks and bonds. The decline has even hit other traditional safe-haven assets such as gold. For those who adhere to a traditional portfolio structure of 60% stocks and 40% bonds, the year has been painful. The iShares Core Growth Allocation ETF , which mirrors a 60/40 portfolio, has fallen more than 17% this year.

One fund that captures these gains is the Fidelity Advisor Energy Fund . It's currently up 45% year to date. "It's been a rock star this year," said Ron Tallou, founder and owner of Tallou Financial Services in Troy, Michigan, adding that the fund has performed relatively well in previous years also. "For anybody looking to diversify their portfolio, this might be a good place. To be sure, these assets may not outperform going forward, however.

 

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