Looking to diversify beyond UCIB? The ETFs below have historically moved differently from UCIB, 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 UCIB
1205 ETFs have low correlation with UCIB (below 0.3), 852 of which are negatively correlated. The least correlated is First Trust California Municipal High Income ETF (FCAL) (Municipal Bonds) with a 1Y correlation of -0.29, down from -0.05 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| First Trust California Municipal High Income ETF | -0.29 | -0.12 | -0.05 | 78 | Municipal Bonds | UCIB vs FCAL | |
| Fidelity Municipal Bond Opportunities ETF | -0.27 | — | — | 76 | Municipal Bonds | UCIB vs FMUB | |
| Nomura National High-Yield Municipal Bond ETF | -0.27 | — | — | 83 | High Yield Muni | UCIB vs HTAX | |
| Dimensional Short-Duration Fixed Income ETF | -0.26 | -0.06 | — | 73 | Short-Term Bond | UCIB vs DFSD | |
| Federated Hermes Short Duration Corporate ETF | -0.26 | -0.04 | — | 68 | Short-Term Bond | UCIB vs FCSH |
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