Looking to diversify beyond PMJL? The ETFs below have historically moved differently from PMJL, 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 PMJL
3 ETFs have low correlation with PMJL (below 0.3), 0 of which are negatively correlated. The least correlated is PGIM Ultra Short Municipal Bond ETF (PUSH) (Municipal Bonds) with a 1Y correlation of 0.11, roughly unchanged from 0.10 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| PGIM Ultra Short Municipal Bond ETF | 0.11 | 0.10 | 0.10 | 90 | Municipal Bonds | PMJL vs PUSH | |
| PGIM Ultra Short Bond ETF | 0.28 | 0.28 | 0.28 | 99 | Ultrashort Bond | PMJL vs PULS | |
| PGIM Short Duration Multi-Sector Bond ETF | 0.30 | — | — | 89 | Multisector Bonds | PMJL vs PSDM | |
| PGIM AAA CLO ETF | 0.32 | — | — | 99 | CLO | PMJL vs PAAA | |
| PGIM Floating Rate Income ETF | 0.33 | 0.32 | 0.32 | 93 | Bank Loan | PMJL vs PFRL |
To view more results, upgrade your current subscription plan.
Build a portfolio that complements PMJL
Add PMJL to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with PMJL