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Allspring Core Bond Fund (MNTRX) Diversifiers

Mutual Fund · Currency in USD · Last updated Jun 4, 2026

The investment seeks total return, consisting of income and capital appreciation. The fund normally invests at least 80% of its net assets in bonds; at least 80% of the fund's total assets in investment-grade debt securities; up to 25% of its total assets in asset-backed securities, other than mortgage-backed securities; and up to 20% of the fund's total assets in U.S. dollar-denominated debt securities of foreign issuers. It is a feeder fund that invests substantially all of its assets in the Core Bond Portfolio, a master portfolio with a substantially identical investment objective and substantially similar investment strategies.

Looking to diversify beyond MNTRX? The mutual funds below have the lowest correlation with MNTRX — 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 MNTRX.

Best Diversifiers for MNTRX

9 mutual funds have low correlation with MNTRX (below 0.3), 0 of which are negatively correlated. The least correlated is Causeway Emerging Markets Fund (CEMIX) (Emerging Markets Diversified) with a 1Y correlation of 0.12, roughly unchanged from 0.05 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
CEMIX
Causeway Emerging Markets Fund0.120.080.05
93
Emerging Markets DiversifiedMNTRX vs CEMIX
BXMIX
Blackstone Alternative Multi-Strategy Fund0.120.140.06
99
MultistrategyMNTRX vs BXMIX
EKBAX
Allspring Diversified Capital Builder Fund0.160.150.12
97
Diversified PortfolioMNTRX vs EKBAX
EVSAX
Allspring Disciplined U.S. Core Fund0.230.180.12
75
Large Cap Blend EquitiesMNTRX vs EVSAX
FAGIX
Fidelity Capital & Income Fund0.240.320.30
93
High Yield BondsMNTRX vs FAGIX
See all 16 diversifiers for MNTRX

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Low-Correlation Stock Ideas

If you're looking for individual stocks that move independently from MNTRX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to MNTRX and solid risk/return profiles. The least correlated is Advanced Micro Devices, Inc. (AMD) (Technology) with a 1Y correlation of 0.06, roughly unchanged from 0.07 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankSector
AMD
Advanced Micro Devices, Inc.0.060.060.07
98
Technology

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