Looking to diversify beyond BMQIX? The mutual funds below have the lowest correlation with BMQIX — 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 BMQIX.
Best Diversifiers for BMQIX
12 mutual funds have low correlation with BMQIX (below 0.3), 0 of which are negatively correlated. The least correlated is Federated Hermes Conservative Municipal Microshort Fund (FHMIX) (Municipal Bonds) with a 1Y correlation of 0.05, roughly unchanged from 0.08 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Federated Hermes Conservative Municipal Microshort... | 0.05 | 0.11 | 0.08 | 99 | Municipal Bonds | BMQIX vs FHMIX | |
| SEI Institutional Managed Trust Tax-Free Conservat... | 0.08 | 0.13 | 0.11 | 99 | Municipal Bonds | BMQIX vs TFCYX | |
| Nationwide Amundi Strategic Income Fund | 0.09 | 0.19 | 0.16 | 99 | Multisector Bonds | BMQIX vs NWXHX | |
| Baird Ultra Short Bond Fund Institutional Class | 0.11 | 0.20 | 0.21 | 100 | Ultrashort Bond | BMQIX vs BUBIX | |
| Baird Ultra Short Bond Fund | 0.14 | 0.17 | 0.22 | 100 | Ultrashort Bond | BMQIX vs BUBSX |
See all 25 diversifiers for BMQIX
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