Looking to diversify beyond IBNAX? The mutual funds below have historically moved differently from IBNAX, 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 IBNAX
10 mutual funds have low correlation with IBNAX (below 0.3), 1 of which are negatively correlated. The least correlated is SEI Institutional Managed Trust Multi-Asset Inflation Managed Fund (SIFAX) (Diversified Portfolio) with a 1Y correlation of -0.29, down from 0.07 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| SEI Institutional Managed Trust Multi-Asset Inflat... | -0.29 | -0.08 | 0.07 | 83 | Diversified Portfolio | IBNAX vs SIFAX | |
| MH Elite Small Cap Fund of Funds Fund | 0.04 | 0.15 | 0.47 | 66 | Diversified Portfolio | IBNAX vs MHELX | |
| Delaware Floating Rate Fund | 0.18 | 0.22 | 0.26 | 96 | Bank Loan | IBNAX vs DDFLX | |
| Delaware Minnesota High-Yield Municipal Bond Fund | 0.25 | 0.23 | 0.20 | 84 | Municipal Bonds | IBNAX vs DVMHX | |
| Delaware Tax-Free Minnesota Fund | 0.27 | 0.23 | 0.20 | 74 | Municipal Bonds | IBNAX vs DEFFX |
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