Looking to diversify beyond PHTFX? The mutual funds below have historically moved differently from PHTFX, 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 PHTFX
0 mutual funds have low correlation with PHTFX (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 0.31, roughly unchanged from 0.30 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 | 0.31 | 0.31 | 0.30 | 55 | Municipal Bonds | PHTFX vs PTEAX | |
| Principal Small-MidCap Dividend Income Fund | 0.72 | 0.76 | 0.77 | 69 | Mid Cap Value Equities | PHTFX vs PMDIX | |
| Principal Equity Income Fund | 0.73 | 0.77 | 0.79 | 87 | Dividend, Large Cap Value Equities | PHTFX vs PQIAX | |
| Principal SmallCap S&P 600 Index Fund | 0.77 | 0.77 | 0.77 | 87 | Small Cap Blend Equities | PHTFX vs PSSMX | |
| Principal Global Multi-Strategy Fund | 0.86 | 0.78 | 0.76 | 97 | Multistrategy | PHTFX vs PSMIX |
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