Looking to diversify beyond MMU? The mutual funds below have the lowest correlation with MMU — 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 MMU.
Best Diversifiers for MMU
13 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 0.05, roughly unchanged from 0.08 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Federated Hermes Conservative Municipal Microshort... | 0.05 | 0.10 | 0.08 | 98 | Municipal Bonds | MMU vs FHMIX | |
| Nuveen Arizona Quality Municipal Income Fund | 0.08 | 0.36 | 0.36 | 50 | Municipal Bonds | MMU vs NAZ | |
| DFA Short-Term Selective State Municipal Bond Port... | 0.11 | 0.20 | 0.28 | 100 | Municipal Bonds | MMU vs DFABX | |
| DFA NY Municipal Bond Portfolio | 0.12 | 0.22 | 0.22 | 99 | Municipal Bonds | MMU vs DNYMX | |
| SEI Institutional Managed Trust Tax-Free Conservat... | 0.15 | 0.11 | 0.10 | 99 | Municipal Bonds | MMU vs TFCYX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from MMU, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to MMU and solid risk/return profiles. The least correlated is Nuveen AMT-Free Municipal Credit Income Fund (NVG) (Financial Services) with a 1Y correlation of 0.52, roughly unchanged from 0.59 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Nuveen AMT-Free Municipal Credit Income Fund | 0.52 | 0.62 | 0.59 | 75 | Financial Services |
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