Looking to diversify beyond TMUUX? The mutual funds below have historically moved differently from TMUUX, 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 TMUUX
11 mutual funds have low correlation with TMUUX (below 0.3), 0 of which are negatively correlated. The least correlated is Federated Hermes Conservative Municipal Microshort Fund (FHMIX) (Municipal Bonds) with a 1Y correlation of 0.10, roughly unchanged from 0.13 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Federated Hermes Conservative Municipal Microshort... | 0.10 | 0.16 | 0.13 | 99 | Municipal Bonds | TMUUX vs FHMIX | |
| SEI Institutional Managed Trust Tax-Free Conservat... | 0.12 | 0.13 | 0.10 | 99 | Municipal Bonds | TMUUX vs TFCYX | |
| abrdn Ultra Short Municipal Income Fund | 0.14 | 0.16 | 0.15 | 100 | Municipal Bonds | TMUUX vs ATOIX | |
| Morgan Stanley Institutional Fund Trust Ultra-Shor... | 0.15 | 0.12 | 0.09 | 100 | Ultrashort Bond | TMUUX vs MUIIX | |
| DFA Short Term Municipal Bond Portfolio | 0.16 | 0.24 | 0.37 | 100 | Municipal Bonds | TMUUX vs DFSMX |
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