Looking to diversify beyond ELFTX? The mutual funds below have historically moved differently from ELFTX, 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 ELFTX
16 mutual funds have low correlation with ELFTX (below 0.3), 1 of which are negatively correlated. The least correlated is DFA Municipal Real Return Portfolio (DMREX) (Municipal Bonds) with a 1Y correlation of -0.01, down from 0.22 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| DFA Municipal Real Return Portfolio | -0.01 | 0.18 | 0.22 | 94 | Municipal Bonds | ELFTX vs DMREX | |
| DFA Short-Term Selective State Municipal Bond Port... | 0.21 | 0.28 | 0.38 | 100 | Municipal Bonds | ELFTX vs DFABX | |
| DFA Short Term Municipal Bond Portfolio | 0.21 | 0.27 | 0.34 | 100 | Municipal Bonds | ELFTX vs DFSMX | |
| SEI Institutional Managed Trust Tax-Free Conservat... | 0.23 | 0.22 | 0.21 | 99 | Municipal Bonds | ELFTX vs TFCYX | |
| DFA NY Municipal Bond Portfolio | 0.23 | 0.32 | 0.41 | 99 | Municipal Bonds | ELFTX vs DNYMX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for ELFTX, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Nuveen AMT-Free Quality Municipal Income Fund (NEA) (Financial Services) with a 1Y correlation of 0.48, roughly unchanged from 0.52 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Nuveen AMT-Free Quality Municipal Income Fund | 0.48 | 0.53 | 0.52 | 78 | Financial Services | |
| Nuveen Quality Municipal Income Fund | 0.49 | 0.54 | 0.51 | 78 | Financial Services |
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