Looking to diversify beyond PXE? The ETFs below have historically moved differently from PXE, 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 PXE
1672 ETFs have low correlation with PXE (below 0.3), 1341 of which are negatively correlated. The least correlated is Invesco BulletShares 2032 Municipal Bond ETF (BSMW) (Municipal Bonds) with a 1Y correlation of -0.33, down from -0.12 over 3 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco BulletShares 2032 Municipal Bond ETF | -0.33 | -0.12 | — | 57 | Municipal Bonds | PXE vs BSMW | |
| Dimensional California Municipal Bond ETF | -0.32 | -0.11 | -0.11 | 66 | Municipal Bonds | PXE vs DFCA | |
| PIMCO Multisector Bond Active Exchange-Traded Fund | -0.32 | -0.06 | -0.04 | 61 | Multisector Bonds | PXE vs PYLD | |
| Fidelity Municipal Bond Opportunities ETF | -0.32 | — | — | 69 | Municipal Bonds | PXE vs FMUB | |
| Vanguard Tax-Exempt Bond ETF | -0.31 | -0.09 | -0.08 | 68 | Municipal Bonds | PXE vs VTEB |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for PXE, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Taiwan Semiconductor Manufacturing Company Limited (TSM) (Technology) with a 1Y correlation of -0.12, down from 0.18 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Taiwan Semiconductor Manufacturing Company Limited | -0.12 | 0.07 | 0.18 | 88 | Technology |
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