Looking to diversify beyond DSSMX? The mutual funds below have the lowest correlation with DSSMX — 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 DSSMX.
Best Diversifiers for DSSMX
20 mutual funds have low correlation with DSSMX (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 0.05, roughly unchanged from 0.10 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| SEI Institutional Managed Trust Tax-Free Conservat... | 0.05 | 0.11 | 0.10 | 99 | Municipal Bonds | DSSMX vs TFCYX | |
| Federated Hermes Conservative Municipal Microshort... | 0.07 | 0.10 | 0.09 | 99 | Municipal Bonds | DSSMX vs FHMIX | |
| abrdn Ultra Short Municipal Income Fund | 0.09 | 0.09 | 0.14 | 99 | Municipal Bonds | DSSMX vs ATOIX | |
| Cavanal Hill Ultra Short Tax-Free Income Fund | 0.12 | 0.08 | 0.22 | 99 | Municipal Bonds | DSSMX vs APUSX | |
| DFA Short Term Municipal Bond Portfolio | 0.18 | 0.34 | 0.43 | 99 | Municipal Bonds | DSSMX vs DFSMX |
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