Looking to diversify beyond MHF? The mutual funds below have historically moved differently from MHF, 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 MHF
18 mutual funds have low correlation with MHF (below 0.3), 0 of which are negatively correlated. The least correlated is JPMorgan Ultra-Short Municipal Fund (USMSX) (Municipal Bonds) with a 1Y correlation of 0.05, roughly unchanged from 0.14 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| JPMorgan Ultra-Short Municipal Fund | 0.05 | 0.11 | 0.14 | 98 | Municipal Bonds | MHF vs USMSX | |
| Nuveen Massachusetts Quality Municipal Income Fund | 0.07 | 0.23 | 0.24 | 78 | Municipal Bonds | MHF vs NMT | |
| abrdn Ultra Short Municipal Income Fund | 0.08 | 0.07 | 0.06 | 100 | Municipal Bonds | MHF vs ATOIX | |
| JPMorgan Ultra-Short Municipal Fund | 0.10 | 0.13 | 0.15 | 98 | Municipal Bonds | MHF vs USMTX | |
| DFA NY Municipal Bond Portfolio | 0.11 | 0.14 | 0.16 | 99 | Municipal Bonds | MHF vs DNYMX |
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