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Putnam Dynamic Asset Allocation Growth Fund (PAEAX) Diversifiers

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

The investment seeks capital appreciation. The fund allocates 65% to 95% of its assets in equities and 5% to 35% in fixed income securities. It invests mainly in equity securities (growth or value stocks or both) of both U.S. and foreign companies of any size. The fund also invests, to a lesser extent, in fixed-income investments, including U.S. and foreign government obligations, corporate obligations and securitized debt instruments (such as mortgage-backed investments).

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

Best Diversifiers for PAEAX

3 mutual funds have low correlation with PAEAX (below 0.3), 1 of which are negatively correlated. The least correlated is SEI Institutional Managed Trust Multi-Asset Inflation Managed Fund (SIFAX) (Diversified Portfolio) with a 1Y correlation of -0.24, down from 0.10 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
SIFAX
SEI Institutional Managed Trust Multi-Asset Inflat...-0.24-0.040.10
73
Diversified PortfolioPAEAX vs SIFAX
MHELX
MH Elite Small Cap Fund of Funds Fund0.050.200.52
64
Diversified PortfolioPAEAX vs MHELX
PSDYX
Putnam Ultra Short Duration Income Fund0.110.100.06
98
Ultrashort BondPAEAX vs PSDYX
FSIRX
Fidelity Advisor Strategic Real Return Fund Class ...0.300.490.58
96
Diversified PortfolioPAEAX vs FSIRX
FCSRX
Fidelity Advisor Strategic Real Return Fund Class ...0.310.500.58
95
Diversified PortfolioPAEAX vs FCSRX
See all 35 diversifiers for PAEAX

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Low-Correlation Stock Ideas

If you're looking for individual stocks that move independently from PAEAX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to PAEAX and solid risk/return profiles. The least correlated is Apple Inc (AAPL) (Technology) with a 1Y correlation of 0.48, down from 0.61 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankSector
AAPL
Apple Inc0.480.470.61
89
Technology

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Diversification Analysis

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