Looking to diversify beyond HULAX? The mutual funds below have historically moved differently from HULAX, 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 HULAX
8 mutual funds have low correlation with HULAX (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 0.21, down from 0.37 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| DFA Short Term Municipal Bond Portfolio | 0.21 | 0.27 | 0.37 | 100 | Municipal Bonds | HULAX vs DFSMX | |
| DFA NY Municipal Bond Portfolio | 0.21 | 0.32 | 0.42 | 99 | Municipal Bonds | HULAX vs DNYMX | |
| abrdn Ultra Short Municipal Income Fund | 0.23 | 0.26 | 0.27 | 100 | Municipal Bonds | HULAX vs ATOIX | |
| JPMorgan Ultra-Short Municipal Fund | 0.24 | 0.33 | 0.39 | 98 | Municipal Bonds | HULAX vs USMSX | |
| SEI Institutional Managed Trust Tax-Free Conservat... | 0.25 | 0.22 | 0.20 | 99 | Municipal Bonds | HULAX vs TFCYX |
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