Looking to diversify beyond MIY? The mutual funds below have the lowest correlation with MIY — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from MIY.
Best Diversifiers for MIY
165 mutual funds have low correlation with MIY (below 0.3), 2 of which are negatively correlated. The least correlated is DFA California Municipal Real Return Portfolio (DCARX) (Municipal Bonds) with a 1Y correlation of -0.19, down from 0.13 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| DFA California Municipal Real Return Portfolio | -0.19 | 0.06 | 0.13 | 94 | Municipal Bonds | MIY vs DCARX | |
| DFA Municipal Real Return Portfolio | -0.08 | 0.07 | 0.14 | 94 | Municipal Bonds | MIY vs DMREX | |
| AlphaSimplex Managed Futures Strategy Fund Class Y | 0.02 | -0.09 | -0.19 | 64 | Systematic Trend | MIY vs ASFYX | |
| abrdn Ultra Short Municipal Income Fund | 0.07 | 0.14 | 0.12 | 99 | Municipal Bonds | MIY vs ATOIX | |
| AB Municipal Bond Inflation Strategy | 0.07 | 0.27 | 0.25 | 91 | Municipal Bonds | MIY vs AUNYX |
See all 459 diversifiers for MIY
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