Looking to diversify beyond FKLAX? The mutual funds below have historically moved differently from FKLAX, 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 FKLAX
10 mutual funds have low correlation with FKLAX (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 0.21, 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 | 0.21 | 0.28 | 0.36 | 100 | Municipal Bonds | FKLAX vs DFSMX | |
| Franklin Income Fund Advisor Class | 0.24 | 0.31 | 0.23 | 93 | Diversified Portfolio | FKLAX vs FRIAX | |
| SEI Institutional Managed Trust Tax-Free Conservat... | 0.25 | 0.25 | 0.22 | 99 | Municipal Bonds | FKLAX vs TFCYX | |
| abrdn Ultra Short Municipal Income Fund | 0.26 | 0.28 | 0.27 | 100 | Municipal Bonds | FKLAX vs ATOIX | |
| DFA NY Municipal Bond Portfolio | 0.26 | 0.32 | 0.41 | 99 | Municipal Bonds | FKLAX vs DNYMX |
To view more results, upgrade your current subscription plan.
Build a portfolio that complements FKLAX
Add FKLAX to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with FKLAX