Looking to diversify beyond DFMPX? The mutual funds below have historically moved differently from DFMPX, 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 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 0.06, roughly unchanged from 0.07 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... | 0.06 | 0.10 | 0.07 | 99 | Municipal Bonds | DFMPX vs TFCYX | |
| Federated Hermes Conservative Municipal Microshort... | 0.11 | 0.10 | 0.08 | 99 | Municipal Bonds | DFMPX vs FHMIX | |
| abrdn Ultra Short Municipal Income Fund | 0.13 | 0.10 | 0.12 | 100 | Municipal Bonds | DFMPX vs ATOIX | |
| DFA U.S. Large Cap Value Portfolio | 0.18 | 0.11 | 0.07 | 95 | Large Cap Value Equities | DFMPX vs DFLVX | |
| DFA U.S. Small Cap Value Portfolio I | 0.19 | 0.12 | 0.07 | 85 | Small Cap Value Equities | DFMPX vs DFSVX |
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