Looking to diversify beyond SMEAX? The mutual funds below have historically moved differently from SMEAX, 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 SMEAX
1 mutual funds have low correlation with SMEAX (below 0.3), 0 of which are negatively correlated. The least correlated is Invesco SteelPath MLP Select 40 Fund Class A (MLPFX) (MLPs) with a 1Y correlation of 0.14, down from 0.51 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco SteelPath MLP Select 40 Fund Class A | 0.14 | 0.42 | 0.51 | 86 | MLPs | SMEAX vs MLPFX | |
| Auer Growth Fund | 0.65 | 0.74 | 0.79 | 91 | Small Cap Blend Equities | SMEAX vs AUERX | |
| DFA International Small Company Portfolio | 0.66 | 0.66 | 0.71 | 60 | Foreign Small & Mid Cap Equities, Small Cap Blend Equities | SMEAX vs DFISX | |
| Brandes Small Cap Value Fund | 0.68 | 0.78 | 0.82 | 92 | Small Cap Value Equities | SMEAX vs BSCMX | |
| Invesco Comstock Fund | 0.71 | 0.79 | 0.82 | 83 | Large Cap Value Equities | SMEAX vs ACSTX |
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