Looking to diversify beyond FIMPX? The mutual funds below have the lowest correlation with FIMPX — 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 FIMPX.
Best Diversifiers for FIMPX
2 mutual funds have low correlation with FIMPX (below 0.3), 0 of which are negatively correlated. The least correlated is Nuveen High Yield Municipal Bond Fund (NHMRX) (High Yield Muni) with a 1Y correlation of 0.16, roughly unchanged from 0.10 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Nuveen High Yield Municipal Bond Fund | 0.16 | 0.10 | 0.10 | 63 | High Yield Muni | FIMPX vs NHMRX | |
| Nuveen Short Duration High Yield Municipal Bond Fu... | 0.21 | 0.08 | 0.10 | 65 | High Yield Muni | FIMPX vs NVHIX | |
| Nuveen Preferred Securities & Income Fund | 0.34 | 0.33 | 0.37 | 73 | Preferred Stock/Convertible Bonds | FIMPX vs NPSRX | |
| Nuveen Nasdaq 100 Dynamic Overwrite Fund | 0.62 | 0.64 | 0.67 | 62 | Derivative Income, Options Trading, Nasdaq-100, Large Cap Growth Equities, Actively Managed | FIMPX vs QQQX | |
| Nuveen Equity Long/Short Fund | 0.76 | 0.75 | 0.78 | 58 | Long-Short | FIMPX vs NELIX |
See all 16 diversifiers for FIMPX
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