Looking to diversify beyond MMD? The mutual funds below have historically moved differently from MMD, 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 MMD
13 mutual funds have low correlation with MMD (below 0.3), 0 of which are negatively correlated. The least correlated is abrdn Ultra Short Municipal Income Fund (ATOIX) (Municipal Bonds) with a 1Y correlation of 0.04, roughly unchanged from 0.07 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| abrdn Ultra Short Municipal Income Fund | 0.04 | 0.09 | 0.07 | 100 | Municipal Bonds | MMD vs ATOIX | |
| Nuveen Massachusetts Quality Municipal Income Fund | 0.05 | 0.30 | 0.28 | 78 | Municipal Bonds | MMD vs NMT | |
| DFA Short Term Municipal Bond Portfolio | 0.11 | 0.10 | 0.17 | 100 | Municipal Bonds | MMD vs DFSMX | |
| Federated Hermes Conservative Municipal Microshort... | 0.13 | 0.09 | 0.06 | 99 | Municipal Bonds | MMD vs FHMIX | |
| DFA NY Municipal Bond Portfolio | 0.14 | 0.22 | 0.23 | 99 | Municipal Bonds | MMD vs DNYMX |
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