Looking to diversify beyond PFUMX? The mutual funds below have historically moved differently from PFUMX, 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 PFUMX
0 mutual funds have low correlation with PFUMX (below 0.3), 0 of which are negatively correlated. The least correlated is Principal Tax-Exempt Bond Fund (PTEAX) (Municipal Bonds) with a 1Y correlation of 0.40, roughly unchanged from 0.42 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Principal Tax-Exempt Bond Fund | 0.40 | 0.46 | 0.42 | 70 | Municipal Bonds | PFUMX vs PTEAX | |
| Principal Small-MidCap Dividend Income Fund | 0.41 | 0.34 | 0.34 | 64 | Mid Cap Value Equities | PFUMX vs PMDIX | |
| Principal SmallCap S&P 600 Index Fund | 0.43 | 0.34 | 0.32 | 82 | Small Cap Blend Equities | PFUMX vs PSSMX | |
| Principal Equity Income Fund | 0.43 | 0.34 | 0.36 | 84 | Dividend, Large Cap Value Equities | PFUMX vs PQIAX | |
| Morgan Stanley Emerging Markets Domestic Fund | 0.45 | 0.38 | 0.41 | 57 | Emerging Markets Bonds | PFUMX vs EDD |
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