Looking to diversify beyond FKDNX? The mutual funds below have historically moved differently from FKDNX, 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 FKDNX
55 mutual funds have low correlation with FKDNX (below 0.3), 0 of which are negatively correlated. The least correlated is Franklin Virginia Tax Free Income Fund (FRVAX) (Municipal Bonds) with a 1Y correlation of 0.13, roughly unchanged from 0.12 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Franklin Virginia Tax Free Income Fund | 0.13 | 0.08 | 0.12 | 86 | Municipal Bonds | FKDNX vs FRVAX | |
| Western Asset Municipal High Income Fund | 0.14 | 0.08 | 0.11 | 80 | High Yield Muni | FKDNX vs STXAX | |
| Franklin Pennsylvania Tax-Free Income Fund | 0.14 | 0.09 | 0.12 | 75 | Municipal Bonds | FKDNX vs FRPAX | |
| Western Asset California Municipals Fund | 0.14 | 0.10 | 0.12 | 80 | Municipal Bonds | FKDNX vs SHRCX | |
| Franklin Connecticut Tax-Free Income Fund | 0.15 | 0.11 | 0.12 | 75 | Municipal Bonds | FKDNX vs FXCTX |
To view more results, upgrade your current subscription plan.
Build a portfolio that complements FKDNX
Add FKDNX to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with FKDNX