Looking to diversify beyond SMXAX? The mutual funds below have historically moved differently from SMXAX, 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 SMXAX
3 mutual funds have low correlation with SMXAX (below 0.3), 0 of which are negatively correlated. The least correlated is SEI Institutional Investments Trust Opportunistic Income Fund (ENIAX) (Ultrashort Bond) with a 1Y correlation of 0.19, roughly unchanged from 0.18 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| SEI Institutional Investments Trust Opportunistic ... | 0.19 | 0.15 | 0.18 | 100 | Ultrashort Bond | SMXAX vs ENIAX | |
| SEI Tax Exempt Trust Intermediate-Term Municipal F... | 0.26 | 0.15 | 0.13 | 65 | Municipal Bonds | SMXAX vs SEIMX | |
| SEI Tax Exempt Trust Tax-Advantaged Income Fund | 0.30 | 0.23 | 0.23 | 65 | Intermediate Core-Plus Bond | SMXAX vs SEATX | |
| SEI Asset Allocation Trust Defensive Strategy Allo... | 0.45 | 0.41 | 0.43 | 99 | Diversified Portfolio | SMXAX vs STDAX | |
| SEI Institutional Investments Trust High Yield Bon... | 0.58 | 0.54 | 0.53 | 54 | High Yield Bonds | SMXAX vs SGYAX |
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