Looking to diversify beyond FKCIX? The mutual funds below have historically moved differently from FKCIX, 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 FKCIX
8 mutual funds have low correlation with FKCIX (below 0.3), 0 of which are negatively correlated. The least correlated is DFA Short Term Municipal Bond Portfolio (DFSMX) (Municipal Bonds) with a 1Y correlation of 0.19, down from 0.36 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| DFA Short Term Municipal Bond Portfolio | 0.19 | 0.25 | 0.36 | 100 | Municipal Bonds | FKCIX vs DFSMX | |
| Franklin Income Fund Advisor Class | 0.25 | 0.33 | 0.24 | 93 | Diversified Portfolio | FKCIX vs FRIAX | |
| abrdn Ultra Short Municipal Income Fund | 0.26 | 0.30 | 0.31 | 100 | Municipal Bonds | FKCIX vs ATOIX | |
| DFA NY Municipal Bond Portfolio | 0.26 | 0.34 | 0.42 | 99 | Municipal Bonds | FKCIX vs DNYMX | |
| DFA Short-Term Selective State Municipal Bond Port... | 0.27 | 0.30 | — | 100 | Municipal Bonds | FKCIX vs DFABX |
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