Looking to diversify beyond FKLAX? The mutual funds below have the lowest correlation with FKLAX — 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 FKLAX.
Best Diversifiers for FKLAX
12 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 0.17, down from 0.36 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| DFA Short Term Municipal Bond Portfolio | 0.17 | 0.27 | 0.36 | 99 | Municipal Bonds | FKLAX vs DFSMX | |
| Franklin Income Fund Advisor Class | 0.20 | 0.31 | 0.23 | 89 | Diversified Portfolio | FKLAX vs FRIAX | |
| DFA NY Municipal Bond Portfolio | 0.22 | 0.31 | 0.41 | 99 | Municipal Bonds | FKLAX vs DNYMX | |
| JPMorgan Ultra-Short Municipal Fund | 0.23 | 0.31 | 0.37 | 99 | Municipal Bonds | FKLAX vs USMSX | |
| Franklin Income Fund Class A1 | 0.24 | 0.33 | 0.24 | 84 | Diversified Portfolio | FKLAX vs FKINX |
See all 21 diversifiers for FKLAX
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