Looking to diversify beyond MMU? The mutual funds below have historically moved differently from MMU, 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 MMU
15 mutual funds have low correlation with MMU (below 0.3), 0 of which are negatively correlated. The least correlated is Federated Hermes Conservative Municipal Microshort Fund (FHMIX) (Municipal Bonds) with a 1Y correlation of 0.03, 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 |
|---|---|---|---|---|---|---|---|
| Federated Hermes Conservative Municipal Microshort... | 0.03 | 0.10 | 0.07 | 99 | Municipal Bonds | MMU vs FHMIX | |
| Nuveen Massachusetts Quality Municipal Income Fund | 0.06 | 0.35 | 0.38 | 78 | Municipal Bonds | MMU vs NMT | |
| SEI Institutional Managed Trust Tax-Free Conservat... | 0.09 | 0.11 | 0.10 | 99 | Municipal Bonds | MMU vs TFCYX | |
| DFA Short Term Municipal Bond Portfolio | 0.12 | 0.16 | 0.20 | 100 | Municipal Bonds | MMU vs DFSMX | |
| JPMorgan Ultra-Short Municipal Fund | 0.13 | 0.21 | 0.22 | 98 | Municipal Bonds | MMU vs USMTX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for MMU, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Nuveen AMT-Free Municipal Credit Income Fund (NVG) (Financial Services) with a 1Y correlation of 0.52, roughly unchanged from 0.60 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Nuveen AMT-Free Municipal Credit Income Fund | 0.52 | 0.61 | 0.60 | 79 | Financial Services |
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