Looking to diversify beyond NPFD? The mutual funds below have the lowest correlation with NPFD — 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 NPFD.
Best Diversifiers for NPFD
1 mutual funds have low correlation with NPFD (below 0.3), 0 of which are negatively correlated. The least correlated is Nuveen Short Duration High Yield Municipal Bond Fund (NVHIX) (High Yield Muni) with a 1Y correlation of 0.28, roughly unchanged from 0.19 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Nuveen Short Duration High Yield Municipal Bond Fu... | 0.28 | 0.19 | — | 65 | High Yield Muni | NPFD vs NVHIX | |
| Principal Capital Securities Fund | 0.30 | 0.32 | — | 76 | Preferred Stock/Convertible Bonds | NPFD vs PCSFX | |
| Cohen & Steers Low Duration Preferred and Income F... | 0.31 | 0.37 | — | 82 | Preferred Stock/Convertible Bonds | NPFD vs LPXZX | |
| Lord Abbett Convertible Fund Class F | 0.31 | 0.34 | — | 82 | Preferred Stock/Convertible Bonds | NPFD vs LBFFX | |
| Nuveen Mid Cap Value Fund | 0.31 | 0.34 | — | 82 | Mid Cap Value Equities | NPFD vs FASEX |
See all 22 diversifiers for NPFD
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