Looking to diversify beyond FWIAX? The mutual funds below have historically moved differently from FWIAX, 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 FWIAX
12 mutual funds have low correlation with FWIAX (below 0.3), 0 of which are negatively correlated. The least correlated is Nuveen Mid Cap Value Fund (FASEX) (Mid Cap Value Equities) with a 1Y correlation of 0.19, up from 0.07 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Nuveen Mid Cap Value Fund | 0.19 | 0.11 | 0.07 | 84 | Mid Cap Value Equities | FWIAX vs FASEX | |
| Nuveen Equity Index Fund Class I | 0.20 | 0.11 | 0.09 | 63 | Large Cap Blend Equities | FWIAX vs TIEIX | |
| Nuveen Nasdaq 100 Dynamic Overwrite Fund | 0.21 | 0.14 | 0.13 | 58 | Derivative Income, Options Trading, Nasdaq-100, Large Cap Growth Equities, Actively Managed | FWIAX vs QQQX | |
| DFA Short-Term Selective State Municipal Bond Port... | 0.22 | 0.27 | — | 100 | Municipal Bonds | FWIAX vs DFABX | |
| JPMorgan Ultra-Short Municipal Fund | 0.22 | 0.31 | 0.36 | 98 | Municipal Bonds | FWIAX vs USMSX |
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