Looking to diversify beyond FMISX? The mutual funds below have historically moved differently from FMISX, 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 FMISX
9 mutual funds have low correlation with FMISX (below 0.3), 0 of which are negatively correlated. The least correlated is Franklin Income Fund Advisor Class (FRIAX) (Diversified Portfolio) with a 1Y correlation of 0.21, roughly unchanged from 0.23 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Franklin Income Fund Advisor Class | 0.21 | 0.30 | 0.23 | 93 | Diversified Portfolio | FMISX vs FRIAX | |
| DFA Short-Term Selective State Municipal Bond Port... | 0.23 | 0.27 | — | 100 | Municipal Bonds | FMISX vs DFABX | |
| JPMorgan Ultra-Short Municipal Fund | 0.24 | 0.32 | 0.38 | 98 | Municipal Bonds | FMISX vs USMSX | |
| DFA Short Term Municipal Bond Portfolio | 0.25 | 0.28 | 0.37 | 100 | Municipal Bonds | FMISX vs DFSMX | |
| SEI Institutional Managed Trust Tax-Free Conservat... | 0.25 | 0.23 | 0.21 | 99 | Municipal Bonds | FMISX vs TFCYX |
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