Looking to diversify beyond TFEQX? The mutual funds below have historically moved differently from TFEQX, 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 TFEQX
26 mutual funds have low correlation with TFEQX (below 0.3), 0 of which are negatively correlated. The least correlated is Western Asset Short Duration Municipal Income Fund (SHDAX) (Municipal Bonds) with a 1Y correlation of 0.21, up from 0.10 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Western Asset Short Duration Municipal Income Fund | 0.21 | 0.14 | 0.10 | 52 | Municipal Bonds | TFEQX vs SHDAX | |
| Franklin Adjustable U.S. Government Securities Fun... | 0.23 | 0.17 | 0.14 | 95 | Ultrashort Bond | TFEQX vs FISAX | |
| Franklin Virginia Tax Free Income Fund | 0.24 | 0.18 | 0.13 | 79 | Municipal Bonds | TFEQX vs FRVAX | |
| Western Asset Massachusetts Municipals Fund | 0.25 | 0.18 | 0.12 | 75 | Municipal Bonds | TFEQX vs SLMMX | |
| Western Asset Intermediate Maturity CA Municipals ... | 0.25 | 0.17 | 0.12 | 76 | Municipal Bonds | TFEQX vs ITCAX |
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