Looking to diversify beyond DFMPX? The mutual funds below have the lowest correlation with DFMPX — 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 DFMPX.
Best Diversifiers for DFMPX
18 mutual funds have low correlation with DFMPX (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 0.03, roughly unchanged from 0.06 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| SEI Institutional Managed Trust Tax-Free Conservat... | 0.03 | 0.07 | 0.06 | 99 | Municipal Bonds | DFMPX vs TFCYX | |
| Federated Hermes Conservative Municipal Microshort... | 0.07 | 0.09 | 0.08 | 99 | Municipal Bonds | DFMPX vs FHMIX | |
| abrdn Ultra Short Municipal Income Fund | 0.11 | 0.08 | 0.11 | 99 | Municipal Bonds | DFMPX vs ATOIX | |
| Cavanal Hill Ultra Short Tax-Free Income Fund | 0.14 | 0.07 | 0.19 | 99 | Municipal Bonds | DFMPX vs APUSX | |
| DFA U.S. Large Cap Value Portfolio | 0.18 | 0.11 | 0.07 | 91 | Large Cap Value Equities | DFMPX vs DFLVX |
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