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
11 mutual funds have low correlation with RFMZ (below 0.3), 0 of which are negatively correlated. The least correlated is DFA California Short Term Municipal Bond Portfolio (DFCMX) (Municipal Bonds) with a 1Y correlation of 0.11, roughly unchanged from 0.19 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| DFA California Short Term Municipal Bond Portfolio | 0.11 | 0.14 | 0.19 | 99 | Municipal Bonds | RFMZ vs DFCMX | |
| Federated Hermes Conservative Municipal Microshort... | 0.11 | 0.06 | 0.05 | 99 | Municipal Bonds | RFMZ vs FHMIX | |
| DFA Short Term Municipal Bond Portfolio | 0.12 | 0.10 | 0.17 | 99 | Municipal Bonds | RFMZ vs DFSMX | |
| DFA NY Municipal Bond Portfolio | 0.14 | 0.17 | 0.18 | 99 | Municipal Bonds | RFMZ vs DNYMX | |
| JPMorgan Ultra-Short Municipal Fund | 0.15 | 0.19 | 0.18 | 99 | Municipal Bonds | RFMZ vs USMSX |
See all 15 diversifiers for RFMZ
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