Looking to diversify beyond EVSAX? The mutual funds below have historically moved differently from EVSAX, 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 EVSAX
14 mutual funds have low correlation with EVSAX (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 0.13, roughly unchanged from 0.06 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Allspring Ultra Short-Term Municipal Income Fund | 0.13 | 0.04 | 0.06 | 97 | Municipal Bonds | EVSAX vs SMAIX | |
| Allspring Ultra Short-Term Income Fund | 0.14 | 0.07 | 0.12 | 99 | Ultrashort Bond | EVSAX vs SADIX | |
| Allspring High Yield Municipal Bond Fund | 0.15 | 0.12 | 0.11 | 93 | High Yield Muni | EVSAX vs WHYIX | |
| Allspring Intermediate Tax/AMT-Free Fund | 0.16 | 0.12 | 0.09 | 60 | Municipal Bonds | EVSAX vs WFTAX | |
| Allspring Short-Term Municipal Bond Fund | 0.17 | 0.12 | 0.09 | 55 | Municipal Bonds | EVSAX vs WSSCX |
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