Looking to diversify beyond MGFAX? The mutual funds below have historically moved differently from MGFAX, 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 MGFAX
4 mutual funds have low correlation with MGFAX (below 0.3), 1 of which are negatively correlated. The least correlated is GQG Partners Global Quality Dividend Income Fund (GQFPX) (Quality Factor) with a 1Y correlation of -0.08, down from 0.47 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| GQG Partners Global Quality Dividend Income Fund | -0.08 | 0.35 | 0.47 | 68 | Quality Factor, Global Equities | MGFAX vs GQFPX | |
| Cohen & Steers Global Infrastructure Fund Class A | 0.06 | 0.25 | 0.42 | 74 | Infrastructure Equities, Global Equities | MGFAX vs CSUAX | |
| Nuveen Global Infrastructure Fund Class A | 0.15 | 0.33 | 0.49 | 58 | Infrastructure Equities, Global Equities | MGFAX vs FGIAX | |
| MassMutual Short Duration Bond Fund | 0.29 | 0.17 | 0.20 | 88 | Short-Term Bond | MGFAX vs MSTDX | |
| Russell Investment Tax-Managed Real Assets Fund | 0.33 | 0.48 | 0.58 | 93 | Global Equities | MGFAX vs RTXAX |
To view more results, upgrade your current subscription plan.
Build a portfolio that complements MGFAX
Add MGFAX to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with MGFAX