Looking to diversify beyond FAZTX? The mutual funds below have historically moved differently from FAZTX, 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 FAZTX
11 mutual funds have low correlation with FAZTX (below 0.3), 0 of which are negatively correlated. The least correlated is Nuveen Mid Cap Value Fund (FASEX) (Mid Cap Value Equities) with a 1Y correlation of 0.19, roughly unchanged from 0.09 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Nuveen Mid Cap Value Fund | 0.19 | 0.15 | 0.09 | 84 | Mid Cap Value Equities | FAZTX vs FASEX | |
| Nuveen Nasdaq 100 Dynamic Overwrite Fund | 0.19 | 0.16 | 0.15 | 58 | Derivative Income, Options Trading, Nasdaq-100, Large Cap Growth Equities, Actively Managed | FAZTX vs QQQX | |
| Nuveen Equity Index Fund Class I | 0.22 | 0.16 | 0.13 | 63 | Large Cap Blend Equities | FAZTX vs TIEIX | |
| DFA Short Term Municipal Bond Portfolio | 0.23 | 0.27 | 0.36 | 100 | Municipal Bonds | FAZTX vs DFSMX | |
| DFA Short-Term Selective State Municipal Bond Port... | 0.23 | 0.28 | — | 100 | Municipal Bonds | FAZTX vs DFABX |
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