Looking to diversify beyond KCTAX? The mutual funds below have historically moved differently from KCTAX, 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 KCTAX
17 mutual funds have low correlation with KCTAX (below 0.3), 0 of which are negatively correlated. The least correlated is Federated Hermes Conservative Municipal Microshort Fund (FHMIX) (Municipal Bonds) with a 1Y correlation of 0.05, roughly unchanged from 0.11 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Federated Hermes Conservative Municipal Microshort... | 0.05 | 0.14 | 0.11 | 99 | Municipal Bonds | KCTAX vs FHMIX | |
| SEI Institutional Managed Trust Tax-Free Conservat... | 0.05 | 0.17 | 0.16 | 99 | Municipal Bonds | KCTAX vs TFCYX | |
| abrdn Ultra Short Municipal Income Fund | 0.10 | 0.23 | 0.24 | 100 | Municipal Bonds | KCTAX vs ATOIX | |
| DWS RREEF Real Assets Fund | 0.10 | 0.23 | 0.21 | 77 | Global Allocation | KCTAX vs AAAZX | |
| DWS RREEF Real Assets Fund - Class A | 0.11 | 0.24 | 0.21 | 77 | Diversified Portfolio | KCTAX vs AAAAX |
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