Looking to diversify beyond DFSMX? The mutual funds below have the lowest correlation with DFSMX — 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 DFSMX.
Best Diversifiers for DFSMX
462 mutual funds have low correlation with DFSMX (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 0.01, roughly unchanged from 0.05 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Federated Hermes Conservative Municipal Microshort... | 0.01 | 0.07 | 0.05 | 99 | Municipal Bonds | DFSMX vs FHMIX | |
| abrdn Ultra Short Municipal Income Fund | 0.02 | -0.02 | 0.06 | 99 | Municipal Bonds | DFSMX vs ATOIX | |
| AB Municipal Bond Inflation Strategy | 0.03 | 0.19 | 0.21 | 92 | Municipal Bonds | DFSMX vs AUNYX | |
| AllianceBernstein National Municipal Income Fund | 0.04 | 0.14 | 0.18 | 67 | Municipal Bonds | DFSMX vs AFB | |
| DFA NY Municipal Bond Portfolio | 0.05 | 0.24 | 0.37 | 99 | Municipal Bonds | DFSMX vs DNYMX |
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