Looking to diversify beyond FMDTX? The mutual funds below have the lowest correlation with FMDTX — 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 FMDTX.
Best Diversifiers for FMDTX
11 mutual funds have low correlation with FMDTX (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 0.16, down from 0.35 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| DFA Short Term Municipal Bond Portfolio | 0.16 | 0.26 | 0.35 | 99 | Municipal Bonds | FMDTX vs DFSMX | |
| DFA NY Municipal Bond Portfolio | 0.19 | 0.31 | 0.40 | 99 | Municipal Bonds | FMDTX vs DNYMX | |
| DFA Short-Term Selective State Municipal Bond Port... | 0.19 | 0.28 | — | 100 | Municipal Bonds | FMDTX vs DFABX | |
| JPMorgan Ultra-Short Municipal Fund | 0.20 | 0.33 | 0.38 | 99 | Municipal Bonds | FMDTX vs USMSX | |
| Franklin Income Fund Advisor Class | 0.22 | 0.33 | 0.25 | 92 | Diversified Portfolio | FMDTX vs FRIAX |
See all 19 diversifiers for FMDTX
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