Looking to diversify beyond DMNBX? The mutual funds below have historically moved differently from DMNBX, 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 DMNBX
28 mutual funds have low correlation with DMNBX (below 0.3), 1 of which are negatively correlated. The least correlated is abrdn Ultra Short Municipal Income Fund (ATOIX) (Municipal Bonds) with a 1Y correlation of -0.04, roughly unchanged from 0.06 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| abrdn Ultra Short Municipal Income Fund | -0.04 | 0.00 | 0.06 | 100 | Municipal Bonds | DMNBX vs ATOIX | |
| Federated Hermes Conservative Municipal Microshort... | 0.04 | 0.08 | 0.06 | 99 | Municipal Bonds | DMNBX vs FHMIX | |
| SEI Institutional Managed Trust Tax-Free Conservat... | 0.06 | 0.04 | 0.03 | 99 | Municipal Bonds | DMNBX vs TFCYX | |
| DFA U.S. Large Cap Value Portfolio | 0.10 | 0.08 | 0.08 | 95 | Large Cap Value Equities | DMNBX vs DFLVX | |
| DFA U.S. Large Company Portfolio | 0.10 | 0.12 | 0.12 | 65 | Large Cap Blend Equities | DMNBX vs DFUSX |
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