Looking to diversify beyond SMDMX? The mutual funds below have historically moved differently from SMDMX, 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 SMDMX
14 mutual funds have low correlation with SMDMX (below 0.3), 0 of which are negatively correlated. The least correlated is Fidelity Select Semiconductors Portfolio (FSELX) (Semiconductors) with a 1Y correlation of 0.07, roughly unchanged from 0.08 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Select Semiconductors Portfolio | 0.07 | 0.05 | 0.08 | 80 | Semiconductors, Technology Equities | SMDMX vs FSELX | |
| DFA Short Term Municipal Bond Portfolio | 0.21 | 0.27 | 0.36 | 100 | Municipal Bonds | SMDMX vs DFSMX | |
| Fidelity ZERO Large Cap Index Fund | 0.21 | 0.15 | 0.14 | 54 | Large Cap Blend Equities | SMDMX vs FNILX | |
| abrdn Ultra Short Municipal Income Fund | 0.21 | 0.27 | 0.27 | 100 | Municipal Bonds | SMDMX vs ATOIX | |
| Fidelity 500 Index Fund | 0.21 | 0.15 | 0.13 | 59 | S&P 500 | SMDMX vs FXAIX |
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