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BNY Mellon New Jersey Municipal Bond Fund Class A (DRNJX) Diversifiers

Mutual Fund · Currency in USD · Last updated Jun 4, 2026

The BNY Mellon New Jersey Municipal Bond Fund (DRNJX) aims to generate a high level of income that is not subject to federal or state income taxes in New Jersey while preserving the value of its assets. To achieve this objective, the fund typically invests at least 80% of its net assets (plus any borrowed funds used for investments) in municipal bonds that offer tax-exempt federal and New Jersey state-level income. The fund invests primarily in municipal bonds considered investment grade, meaning that they have a rating of Baa/BBB or higher or the equivalent rating as determined by the fund's adviser. It is important to note that this fund is considered non-diversified.

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

Best Diversifiers for DRNJX

17 mutual funds have low correlation with DRNJX (below 0.3), 1 of which are negatively correlated. The least correlated is BNY Mellon Natural Resources Fund Class A (DNLAX) (Energy Equities) with a 1Y correlation of -0.01, roughly unchanged from -0.02 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
DNLAX
BNY Mellon Natural Resources Fund Class A-0.010.01-0.02
89
Energy EquitiesDRNJX vs DNLAX
DTGRX
BNY Mellon Technology Growth Fund0.110.090.09
79
Technology EquitiesDRNJX vs DTGRX
DAGVX
BNY Mellon Dynamic Value Fund0.130.090.05
79
Large Cap Value EquitiesDRNJX vs DAGVX
DISSX
BNY Mellon Smallcap Stock Index Fund0.130.140.10
56
Small Cap Blend EquitiesDRNJX vs DISSX
DRGVX
BNY Mellon Dynamic Value Fund Class I0.130.090.05
80
Large Cap Value EquitiesDRNJX vs DRGVX
See all 24 diversifiers for DRNJX

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