Looking to diversify beyond MSTPX? The mutual funds below have historically moved differently from MSTPX, 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 MSTPX
15 mutual funds have low correlation with MSTPX (below 0.3), 0 of which are negatively correlated. The least correlated is SEI Institutional Managed Trust Tax-Free Conservative Income Fund (TFCYX) (Municipal Bonds) with a 1Y correlation of 0.02, roughly unchanged from 0.09 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| SEI Institutional Managed Trust Tax-Free Conservat... | 0.02 | 0.11 | 0.09 | 99 | Municipal Bonds | MSTPX vs TFCYX | |
| DFA Municipal Real Return Portfolio | 0.02 | 0.19 | 0.24 | 94 | Municipal Bonds | MSTPX vs DMREX | |
| Federated Hermes Conservative Municipal Microshort... | 0.03 | 0.14 | 0.11 | 99 | Municipal Bonds | MSTPX vs FHMIX | |
| DFA California Municipal Real Return Portfolio | 0.05 | 0.20 | 0.23 | 91 | Municipal Bonds | MSTPX vs DCARX | |
| abrdn Ultra Short Municipal Income Fund | 0.13 | 0.17 | 0.16 | 100 | Municipal Bonds | MSTPX vs ATOIX |
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