Looking to diversify beyond RFMZ? The mutual funds below have the lowest correlation with RFMZ — 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 RFMZ.
Best Diversifiers for RFMZ
12 mutual funds have low correlation with RFMZ (below 0.3), 0 of which are negatively correlated. The least correlated is Federated Hermes Conservative Municipal Microshort Fund (FHMIX) (Municipal Bonds) with a 1Y correlation of 0.11, roughly unchanged from 0.05 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Federated Hermes Conservative Municipal Microshort... | 0.11 | 0.07 | 0.05 | 99 | Municipal Bonds | RFMZ vs FHMIX | |
| DFA Short Term Municipal Bond Portfolio | 0.14 | 0.09 | 0.17 | 100 | Municipal Bonds | RFMZ vs DFSMX | |
| DFA NY Municipal Bond Portfolio | 0.14 | 0.17 | 0.19 | 99 | Municipal Bonds | RFMZ vs DNYMX | |
| DFA California Short Term Municipal Bond Portfolio | 0.14 | 0.14 | 0.19 | 99 | Municipal Bonds | RFMZ vs DFCMX | |
| SEI Institutional Managed Trust Tax-Free Conservat... | 0.15 | 0.06 | 0.06 | 99 | Municipal Bonds | RFMZ vs TFCYX |
See all 20 diversifiers for RFMZ
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