Looking to diversify beyond ESPAX? The mutual funds below have the lowest correlation with ESPAX — 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 ESPAX.
Best Diversifiers for ESPAX
14 mutual funds have low correlation with ESPAX (below 0.3), 0 of which are negatively correlated. The least correlated is Allspring Ultra Short-Term Municipal Income Fund (SMAIX) (Municipal Bonds) with a 1Y correlation of 0.04, roughly unchanged from 0.05 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Allspring Ultra Short-Term Municipal Income Fund | 0.04 | 0.04 | 0.05 | 98 | Municipal Bonds | ESPAX vs SMAIX | |
| Allspring Ultra Short-Term Income Fund | 0.08 | 0.11 | 0.13 | 98 | Ultrashort Bond | ESPAX vs SADIX | |
| Allspring High Yield Municipal Bond Fund | 0.11 | 0.12 | 0.09 | 70 | High Yield Muni | ESPAX vs WHYIX | |
| Allspring Minnesota Tax-Free Fund | 0.11 | 0.10 | 0.08 | 79 | Municipal Bonds | ESPAX vs NMTFX | |
| Allspring Strategic Municipal Bond Fund | 0.12 | 0.12 | 0.08 | 77 | Municipal Bonds | ESPAX vs VMPAX |
See all 53 diversifiers for ESPAX
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Diversification Analysis
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