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Thornburg Strategic Municipal Income Fund (TSSIX) Diversifiers

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

The fund invests principally in a portfolio of municipal obligations issued by states and state agencies, local governments and their agencies, and by United States territories and possessions. It invests in obligations and participations in obligations of any credit quality. The fund may invest in municipal obligations of any maturity, but seeks to maintain a portfolio of investments having a dollar-weighted average effective duration of normally one to ten years.

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

Best Diversifiers for TSSIX

15 mutual funds have low correlation with TSSIX (below 0.3), 0 of which are negatively correlated. The least correlated is DFA Municipal Real Return Portfolio (DMREX) (Municipal Bonds) with a 1Y correlation of 0.03, down from 0.22 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
DMREX
DFA Municipal Real Return Portfolio0.030.200.22
95
Municipal BondsTSSIX vs DMREX
THDIX
Thornburg Developing World Fund0.140.090.10
87
Emerging Markets DiversifiedTSSIX vs THDIX
THOIX
Thornburg Global Opportunities Fund0.150.140.08
94
Foreign Large Cap EquitiesTSSIX vs THOIX
DFSMX
DFA Short Term Municipal Bond Portfolio0.170.280.36
99
Municipal BondsTSSIX vs DFSMX
USMSX
JPMorgan Ultra-Short Municipal Fund0.170.320.38
99
Municipal BondsTSSIX vs USMSX
See all 31 diversifiers for TSSIX

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Low-Correlation Stock Ideas

If you're looking for individual stocks that move independently from TSSIX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to TSSIX and solid risk/return profiles. The least correlated is Super Group (SGHC) Limited (SGHC) (Consumer Cyclical) with a 1Y correlation of -0.01, roughly unchanged from 0.04 over 3 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankSector
SGHC
Super Group (SGHC) Limited-0.010.04—
70
Consumer Cyclical

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Diversification Analysis

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