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
10 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 0.19, 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 | 0.19 | 0.26 | 0.36 | 99 | Municipal Bonds | FMDTX vs DFSMX | |
| DFA Short-Term Selective State Municipal Bond Port... | 0.21 | 0.29 | — | 100 | Municipal Bonds | FMDTX vs DFABX | |
| DFA NY Municipal Bond Portfolio | 0.22 | 0.31 | 0.40 | 99 | Municipal Bonds | FMDTX vs DNYMX | |
| Franklin Income Fund Advisor Class | 0.22 | 0.33 | 0.25 | 87 | Diversified Portfolio | FMDTX vs FRIAX | |
| Federated Hermes Conservative Municipal Microshort... | 0.23 | 0.20 | 0.15 | 99 | Municipal Bonds | FMDTX vs FHMIX |
See all 22 diversifiers for FMDTX
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