Looking to diversify beyond DFEVX? The mutual funds below have the lowest correlation with DFEVX — 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 DFEVX.
Best Diversifiers for DFEVX
4 mutual funds have low correlation with DFEVX (below 0.3), 0 of which are negatively correlated. The least correlated is American High-Income Municipal Bond Fund (AMHIX) (High Yield Muni) with a 1Y correlation of 0.14, roughly unchanged from 0.11 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| American High-Income Municipal Bond Fund | 0.14 | 0.12 | 0.11 | 76 | High Yield Muni | DFEVX vs AMHIX | |
| Invesco Limited Term Municipal Income Fund | 0.19 | 0.12 | 0.13 | 84 | Municipal Bonds | DFEVX vs AITFX | |
| Baird Core Intermediate Municipal Bond Fund | 0.22 | 0.14 | 0.12 | 78 | Municipal Bonds | DFEVX vs BMNSX | |
| AQR Long-Short Equity N | 0.29 | 0.27 | 0.25 | 51 | Long-Short | DFEVX vs QLENX | |
| PGIM High Yield Fund Class R6 | 0.35 | 0.34 | 0.39 | 75 | High Yield Bonds | DFEVX vs PHYQX |
See all 55 diversifiers for DFEVX
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