Looking to diversify beyond SCNM? The ETFs below have the lowest correlation with SCNM — 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 SCNM.
Best Diversifiers for SCNM
1 ETFs have low correlation with SCNM (below 0.3), 0 of which are negatively correlated. The least correlated is First Trust Ultra Short Duration Municipal ETF (FUMB) (Municipal Bonds) with a 1Y correlation of 0.26, roughly unchanged from 0.26 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| First Trust Ultra Short Duration Municipal ETF | 0.26 | 0.26 | 0.26 | 97 | Municipal Bonds, Ultrashort Bond | SCNM vs FUMB | |
| Xtrackers Municipal Infrastructure Revenue Bond ET... | 0.48 | 0.48 | 0.48 | 87 | Municipal Bonds | SCNM vs RVNU | |
| State Street SPDR Nuveen ICE High Yield Municipal ... | 0.58 | 0.58 | 0.58 | 81 | Municipal Bonds | SCNM vs HYMB | |
| Fidelity Systematic Municipal Bond Index ETF | 0.59 | 0.59 | 0.59 | 74 | Municipal Bonds | SCNM vs FMUN | |
| Vanguard Tax-Exempt Bond ETF | 0.68 | 0.68 | 0.68 | 80 | Municipal Bonds | SCNM vs VTEB |
See all 6 diversifiers for SCNM
To view more results, upgrade your current subscription plan.
Diversification Analysis
Build a portfolio that complements SCNM
Add SCNM to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with SCNM