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Sierra Tactical Municipal Fund (STMYX) Diversifiers

Mutual Fund · Currency in USD · Last updated Jun 4, 2026

The investment seeks total return, including tax-free income from the dividends of underlying municipal bond funds, while seeking to limit downside risk. The fund invests in open-end investment companies (mutual funds) and exchange-traded funds ("ETFs") that primarily invest in tax-exempt municipal bonds ("underlying municipal bond funds"), as well as municipal money market funds. Under normal circumstances, the fund invests at least 80% of its net assets (defined as net assets plus the amount of any borrowing for investment purposes) in funds that primarily invest in municipal bonds or other municipal debt instruments.

Looking to diversify beyond STMYX? The mutual funds below have the lowest correlation with STMYX — 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 STMYX.

Best Diversifiers for STMYX

0 mutual funds have low correlation with STMYX (below 0.3), 0 of which are negatively correlated. The least correlated is Nuveen Short Duration High Yield Municipal Bond Fund (NVHIX) (High Yield Muni) with a 1Y correlation of 0.64, roughly unchanged from 0.57 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
NVHIX
Nuveen Short Duration High Yield Municipal Bond Fu...0.640.620.57
62
High Yield MuniSTMYX vs NVHIX
AHYMX
abrdn Short Duration High Yield Municipal Fund0.680.650.61
56
High Yield MuniSTMYX vs AHYMX
TMNIX
Counterpoint Tactical Municipal Fund0.710.750.71
58
High Yield MuniSTMYX vs TMNIX
RTHAX
Russell Investments Tax-Exempt High Yield Bond Fun...0.730.760.71
60
High Yield MuniSTMYX vs RTHAX
SDHIX
Lord Abbett Short Duration High Income Municipal B...0.740.720.66
78
High Yield MuniSTMYX vs SDHIX
See all 31 diversifiers for STMYX

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