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Carillon Scout Small Cap Fund (UMBHX) Diversifiers

Mutual Fund · Currency in USD · Last updated Jun 23, 2026

The investment seeks long-term growth of capital. The fund pursues its objective by investing, under normal circumstances, at least 80% of its net assets in equity securities (mostly common stocks) of small cap companies located anywhere in the United States. The fund's portfolio managers consider small-capitalization companies to be those companies that, at the time of initial purchase, have a market capitalization equal to or less than the largest company in the Russell 2000 Growth Index during the most recent 12-month period.

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

Best Diversifiers for UMBHX

0 mutual funds have low correlation with UMBHX (below 0.3), 0 of which are negatively correlated. The least correlated is Emerald Growth Fund Institutional Class (FGROX) (Small Cap Growth Equities) with a 1Y correlation of 0.89, roughly unchanged from 0.89 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
FGROX
Emerald Growth Fund Institutional Class0.890.890.89
88
Small Cap Growth EquitiesUMBHX vs FGROX
HSPGX
Emerald Growth Fund0.890.890.89
88
Small Cap Growth EquitiesUMBHX vs HSPGX
HRSCX
Carillon Eagle Small Cap Growth Fund0.930.930.93
61
Small Cap Growth EquitiesUMBHX vs HRSCX
TCMSX
Voya Small Cap Growth Fund0.970.970.97
74
Small Cap Growth EquitiesUMBHX vs TCMSX

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