Looking to diversify beyond WMFAX? The mutual funds below have historically moved differently from WMFAX, 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 WMFAX
14 mutual funds have low correlation with WMFAX (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 0.05, down from 0.23 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| DFA Municipal Real Return Portfolio | 0.05 | 0.19 | 0.23 | 94 | Municipal Bonds | WMFAX vs DMREX | |
| SEI Institutional Managed Trust Tax-Free Conservat... | 0.17 | 0.21 | 0.20 | 99 | Municipal Bonds | WMFAX vs TFCYX | |
| Allspring Small Company Value Fund | 0.19 | 0.15 | 0.10 | 73 | Small Cap Value Equities | WMFAX vs SCVAX | |
| Federated Hermes Conservative Municipal Microshort... | 0.20 | 0.19 | 0.15 | 99 | Municipal Bonds | WMFAX vs FHMIX | |
| Allspring Diversified Capital Builder Fund | 0.20 | 0.13 | 0.12 | 87 | Diversified Portfolio | WMFAX vs EKBAX |
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