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Morningstar Total Return Bond Fund (MSTRX) Diversifiers

Mutual Fund · Currency in USD · Last updated Jun 3, 2026

The investment seeks to maximize total return while also generating income and preserving capital. The fund will normally invest at least 80% of its assets in debt securities (commonly referred to as "bonds") of varying maturity, duration, and quality. It invests primarily in investment-grade fixed-income securities. The fund may also invest up to 20% of its assets in fixed-income securities that are rated below investment grade (commonly known as junk bonds), or if unrated, are determined by the fund's subadviser(s) to be of comparable quality.

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

Best Diversifiers for MSTRX

0 mutual funds have low correlation with MSTRX (below 0.3), 0 of which are negatively correlated. The least correlated is Morningstar Global Income Fund (MSTGX) (Global Allocation) with a 1Y correlation of 0.55, up from 0.43 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
MSTGX
Morningstar Global Income Fund0.550.540.43
54
Global AllocationMSTRX vs MSTGX
MSTVX
Morningstar Alternatives Fund0.570.510.41
56
MultistrategyMSTRX vs MSTVX
PCGTX
PACE Mortgage-Backed Securities Fixed Income Inves...0.800.880.89
50
Intermediate Core BondMSTRX vs PCGTX
LSSAX
Loomis Sayles Securitized Asset Fund0.910.900.91
50
Intermediate Core BondMSTRX vs LSSAX

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Diversification Analysis

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