Looking to diversify beyond SMMIX? The mutual funds below have historically moved differently from SMMIX, 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 SMMIX
0 mutual funds have low correlation with SMMIX (below 0.3), 0 of which are negatively correlated. The least correlated is Invesco Comstock Fund (ACSTX) (Large Cap Value Equities) with a 1Y correlation of 0.40, down from 0.61 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco Comstock Fund | 0.40 | 0.50 | 0.61 | 83 | Large Cap Value Equities | SMMIX vs ACSTX | |
| Invesco Equally-Weighted S&P 500 Fund | 0.44 | 0.55 | 0.70 | 69 | S&P 500 | SMMIX vs VADDX | |
| Invesco Equally-Weighted S&P 500 Fund Class A | 0.46 | 0.56 | 0.70 | 68 | Large Cap Blend Equities | SMMIX vs VADAX | |
| Invesco Equity and Income Fund | 0.55 | 0.60 | 0.70 | 74 | Diversified Portfolio | SMMIX vs ACEIX | |
| Davis New York Venture Fund Class Y | 0.57 | 0.66 | 0.75 | 90 | Large Cap Growth Equities | SMMIX vs DNVYX |
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