Looking to diversify beyond BMQSX? The mutual funds below have historically moved differently from BMQSX, 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 BMQSX
15 mutual funds have low correlation with BMQSX (below 0.3), 0 of which are negatively correlated. The least correlated is SEI Institutional Managed Trust Tax-Free Conservative Income Fund (TFCYX) (Municipal Bonds) with a 1Y correlation of 0.11, roughly unchanged from 0.12 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| SEI Institutional Managed Trust Tax-Free Conservat... | 0.11 | 0.13 | 0.12 | 99 | Municipal Bonds | BMQSX vs TFCYX | |
| Baird Ultra Short Bond Fund | 0.11 | 0.14 | 0.21 | 100 | Ultrashort Bond | BMQSX vs BUBSX | |
| Federated Hermes Conservative Municipal Microshort... | 0.11 | 0.12 | 0.09 | 99 | Municipal Bonds | BMQSX vs FHMIX | |
| Baird Ultra Short Bond Fund Institutional Class | 0.12 | 0.19 | 0.20 | 99 | Ultrashort Bond | BMQSX vs BUBIX | |
| Nationwide Amundi Strategic Income Fund | 0.13 | 0.21 | 0.17 | 99 | Multisector Bonds | BMQSX vs NWXHX |
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