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American Funds American Mutual Fund Class F-3 (AFMFX) Diversifiers

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

The American Mutual Fund (AFMFX) is an actively managed mutual fund managed by American Funds. It follows a conservative growth and income investment strategy aiming to provide investors with some level of capital appreciation while also generating income through dividends.

AFMFX typically invests in well-established companies with solid balance sheets and a history of consistently paying dividends to achieve its goals. These companies may be less volatile and more resilient to market downturns, which can help provide some downside protection for the fund. The fund may also invest in a variety of sectors and industries, with the goal of diversifying its portfolio and mitigating risk.

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

Best Diversifiers for AFMFX

2 mutual funds have low correlation with AFMFX (below 0.3), 0 of which are negatively correlated. The least correlated is Cliffwater Corporate Lending Fund (CCLFX) (High Yield Bonds) with a 1Y correlation of 0.10, roughly unchanged from 0.08 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
CCLFX
Cliffwater Corporate Lending Fund0.100.130.08
100
High Yield BondsAFMFX vs CCLFX
LEIFX
Federated Hermes Equity Income Fund0.290.600.77
65
Large Cap Value EquitiesAFMFX vs LEIFX
SVAIX
Federated Hermes Strategic Value Dividend Fund0.490.580.71
78
Large Cap Value EquitiesAFMFX vs SVAIX
ODMAX
Invesco Developing Markets Fund0.570.550.56
74
Emerging Markets DiversifiedAFMFX vs ODMAX
SMVLX
Smead Value Fund0.610.730.79
62
Large Cap Value EquitiesAFMFX vs SMVLX
See all 55 diversifiers for AFMFX

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Low-Correlation Stock Ideas

If you're looking for individual stocks that move independently from AFMFX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to AFMFX and solid risk/return profiles. The least correlated is Park National Corporation (PRK) (Financial Services) with a 1Y correlation of 0.43, roughly unchanged from 0.51 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankSector
PRK
Park National Corporation0.430.470.51
59
Financial Services

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