Looking to diversify beyond RFMZ? The mutual funds below have historically moved differently from RFMZ, 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 RFMZ
12 mutual funds have low correlation with RFMZ (below 0.3), 0 of which are negatively correlated. The least correlated is DFA Short Term Municipal Bond Portfolio (DFSMX) (Municipal Bonds) with a 1Y correlation of 0.11, roughly unchanged from 0.17 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| DFA Short Term Municipal Bond Portfolio | 0.11 | 0.09 | 0.17 | 100 | Municipal Bonds | RFMZ vs DFSMX | |
| SEI Institutional Managed Trust Tax-Free Conservat... | 0.14 | 0.07 | 0.06 | 99 | Municipal Bonds | RFMZ vs TFCYX | |
| DFA NY Municipal Bond Portfolio | 0.15 | 0.18 | 0.19 | 99 | Municipal Bonds | RFMZ vs DNYMX | |
| DFA California Short Term Municipal Bond Portfolio | 0.16 | 0.16 | 0.20 | 99 | Municipal Bonds | RFMZ vs DFCMX | |
| abrdn Ultra Short Municipal Income Fund | 0.16 | 0.07 | 0.05 | 100 | Municipal Bonds | RFMZ vs ATOIX |
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