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BNY Mellon Active MidCap Fund (DNLDX) Diversifiers

Mutual Fund · Currency in USD · Last updated Jun 24, 2026

The investment seeks to maximize capital appreciation. To pursue its goal, the fund normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in the stocks of midsize companies. The advisor currently defines "midsize companies" as companies included in the Russell Midcap Index, the fund's benchmark index. Its portfolio managers apply a systematic, quantitative investment approach designed to identify and exploit relative misvaluations primarily within mid-cap stocks in the U.S. stock market. The fund typically will hold between 100 and 250 securities.

Looking to diversify beyond DNLDX? The mutual funds below have the lowest correlation with DNLDX — 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 DNLDX.

Best Diversifiers for DNLDX

8 mutual funds have low correlation with DNLDX (below 0.3), 0 of which are negatively correlated. The least correlated is BNY Mellon High Yield Municipal Bond Fund (DHMBX) (High Yield Muni) with a 1Y correlation of 0.16, roughly unchanged from 0.11 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
DHMBX
BNY Mellon High Yield Municipal Bond Fund0.160.150.11
67
High Yield MuniDNLDX vs DHMBX
PTEBX
BNY Mellon Opportunistic Municipal Securities Fund0.170.150.11
75
Municipal BondsDNLDX vs PTEBX
DITEX
BNY Mellon Intermediate Municipal Bond Fund0.170.130.10
68
Municipal BondsDNLDX vs DITEX
DRNJX
BNY Mellon New Jersey Municipal Bond Fund Class A0.170.150.11
73
Municipal BondsDNLDX vs DRNJX
PSNYX
BNY Mellon New York AMT-Free Municipal Bond Fund0.180.150.11
69
Municipal BondsDNLDX vs PSNYX
See all 75 diversifiers for DNLDX

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Low-Correlation Stock Ideas

If you're looking for individual stocks that move independently from DNLDX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to DNLDX and solid risk/return profiles. The least correlated is Innovative Industrial Properties, Inc. (IIPR) (Real Estate) with a 1Y correlation of 0.43, down from 0.60 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankSector
IIPR
Innovative Industrial Properties, Inc.0.430.540.60
60
Real Estate

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Diversification Analysis

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