Looking to diversify beyond NUW? The mutual funds below have the lowest correlation with NUW — 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 NUW.
Best Diversifiers for NUW
14 mutual funds have low correlation with NUW (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 0.06, roughly unchanged from 0.09 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Federated Hermes Conservative Municipal Microshort... | 0.06 | 0.12 | 0.09 | 99 | Municipal Bonds | NUW vs FHMIX | |
| JPMorgan Ultra-Short Municipal Fund | 0.07 | 0.17 | 0.15 | 99 | Municipal Bonds | NUW vs USMSX | |
| abrdn Ultra Short Municipal Income Fund | 0.09 | 0.10 | 0.05 | 99 | Municipal Bonds | NUW vs ATOIX | |
| DFA Short Term Municipal Bond Portfolio | 0.16 | 0.08 | 0.15 | 99 | Municipal Bonds | NUW vs DFSMX | |
| JPMorgan Ultra-Short Municipal Fund | 0.16 | 0.18 | 0.17 | 99 | Municipal Bonds | NUW vs USMTX |
See all 21 diversifiers for NUW
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