Looking to diversify beyond TEPAX? The mutual funds below have historically moved differently from TEPAX, 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 TEPAX
16 mutual funds have low correlation with TEPAX (below 0.3), 2 of which are negatively correlated. The least correlated is DFA California Municipal Real Return Portfolio (DCARX) (Municipal Bonds) with a 1Y correlation of -0.03, down from 0.24 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| DFA California Municipal Real Return Portfolio | -0.03 | 0.20 | 0.24 | 91 | Municipal Bonds | TEPAX vs DCARX | |
| DFA Municipal Real Return Portfolio | -0.00 | 0.21 | 0.25 | 94 | Municipal Bonds | TEPAX vs DMREX | |
| Federated Hermes Conservative Municipal Microshort... | 0.17 | 0.12 | 0.10 | 99 | Municipal Bonds | TEPAX vs FHMIX | |
| SEI Institutional Managed Trust Tax-Free Conservat... | 0.17 | 0.12 | 0.10 | 99 | Municipal Bonds | TEPAX vs TFCYX | |
| American Funds The Income Fund of America Class A | 0.18 | 0.22 | 0.17 | 81 | Diversified Portfolio, Dividend | TEPAX vs AMECX |
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