Looking to diversify beyond MMHYX? The mutual funds below have the lowest correlation with MMHYX — 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 MMHYX.
Best Diversifiers for MMHYX
0 mutual funds have low correlation with MMHYX (below 0.3), 0 of which are negatively correlated. The least correlated is Russell Investments Tax-Exempt High Yield Bond Fund (RTHAX) (High Yield Muni) with a 1Y correlation of 0.66, down from 0.84 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Russell Investments Tax-Exempt High Yield Bond Fun... | 0.66 | 0.80 | 0.84 | 68 | High Yield Muni | MMHYX vs RTHAX | |
| abrdn Short Duration High Yield Municipal Fund | 0.66 | 0.75 | 0.78 | 57 | High Yield Muni | MMHYX vs AHYMX | |
| Nuveen Short Duration High Yield Municipal Bond Fu... | 0.66 | 0.70 | 0.70 | 65 | High Yield Muni | MMHYX vs NVHIX | |
| Federated Hermes Municipal High Yield Advtg Fd | 0.70 | 0.78 | 0.83 | 91 | High Yield Muni | MMHYX vs FHTFX | |
| Counterpoint Tactical Municipal Fund | 0.73 | 0.66 | 0.62 | 70 | High Yield Muni | MMHYX vs TMNIX |
See all 22 diversifiers for MMHYX
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