Looking to diversify beyond BMNSX? The mutual funds below have historically moved differently from BMNSX, 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 BMNSX
13 mutual funds have low correlation with BMNSX (below 0.3), 0 of which are negatively correlated. The least correlated is abrdn Ultra Short Municipal Income Fund (ATOIX) (Municipal Bonds) with a 1Y correlation of 0.12, roughly unchanged from 0.14 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| abrdn Ultra Short Municipal Income Fund | 0.12 | 0.13 | 0.14 | 100 | Municipal Bonds | BMNSX vs ATOIX | |
| SEI Institutional Managed Trust Tax-Free Conservat... | 0.13 | 0.15 | 0.12 | 99 | Municipal Bonds | BMNSX vs TFCYX | |
| Baird Ultra Short Bond Fund | 0.13 | 0.16 | 0.23 | 100 | Ultrashort Bond | BMNSX vs BUBSX | |
| Baird Ultra Short Bond Fund Institutional Class | 0.14 | 0.19 | 0.20 | 99 | Ultrashort Bond | BMNSX vs BUBIX | |
| Federated Hermes Conservative Municipal Microshort... | 0.15 | 0.13 | 0.10 | 99 | Municipal Bonds | BMNSX vs FHMIX |
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