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T. Rowe Price GNMA Fund (PRGMX) Diversifiers

Mutual Fund · Currency in USD · Last updated Jun 23, 2026

The fund will normally invest at least 80% of its total assets in mortgage-backed securities issued by the Government National Mortgage Association (GNMA), an agency of the U.S. Department of Housing and Urban Development. Up to 20% of its total assets may be invested in high-quality securities that are not backed by the full faith and credit of the U.S. government.

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

Best Diversifiers for PRGMX

7 mutual funds have low correlation with PRGMX (below 0.3), 0 of which are negatively correlated. The least correlated is GMO U.S. Treasury Fund (GUSTX) (Government Bonds) with a 1Y correlation of 0.18, up from 0.07 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
GUSTX
GMO U.S. Treasury Fund0.180.090.07
99
Government BondsPRGMX vs GUSTX
PRFRX
T. Rowe Price Floating Rate Fund0.200.180.18
96
High Yield BondsPRGMX vs PRFRX
PRSCX
T. Rowe Price Science And Technology Fund0.200.120.16
87
Technology EquitiesPRGMX vs PRSCX
FEUGX
Federated Hermes Adjustable Rate Fund0.260.520.51
99
Government BondsPRGMX vs FEUGX
PREIX
T. Rowe Price Equity Index 500 Fund0.280.220.20
65
Large Cap Blend EquitiesPRGMX vs PREIX
See all 22 diversifiers for PRGMX

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Low-Correlation Stock Ideas

If you're looking for individual stocks that move independently from PRGMX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to PRGMX and solid risk/return profiles. The least correlated is Bank of America Corporation (BAC) (Financial Services) with a 1Y correlation of 0.10, roughly unchanged from 0.05 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankSector
BAC
Bank of America Corporation0.100.080.05
75
Financial Services
ON
ON Semiconductor Corporation0.140.110.10
91
Technology
USB
U.S. Bancorp0.160.140.10
83
Financial Services

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