- ISIN
- US19767A6139
- Issuer
- Columbia
- Inception Date
- Jan 2, 2017
- Category
- Long-Short
- Min. Investment
- $100
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Large-Cap
- Asset Class Style
- Blend
Share Price Chart
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Performance
CDAZX Performance Chart
Multi-Manager Directional Alternative Strategies Fund (CDAZX) is up 8.6% since the beginning of the year. CDAZX is currently trading at $8 per share. Investors who bought $1,000 worth of CDAZX shares 5 years ago would now be looking at an investment worth $1,690.
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Returns By Period
Multi-Manager Directional Alternative Strategies Fund (CDAZX) has returned 8.56% so far this year and 25.48% over the past 12 months.
Multi-Manager Directional Alternative Strategies Fund
- 1D
- 1.57%
- 1M
- 6.17%
- YTD
- 8.56%
- 6M
- 7.88%
- 1Y
- 25.48%
- 3Y*
- 18.41%
- 5Y*
- 11.06%
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- 0.13%
- 1M
- 5.25%
- YTD
- 11.16%
- 6M
- 11.43%
- 1Y
- 28.20%
- 3Y*
- 21.12%
- 5Y*
- 12.66%
- 10Y*
- 13.75%
CDAZX Monthly Returns History
Based on dividend-adjusted daily data since Jan 12, 2017, CDAZX's average daily return is +0.03%, while the average monthly return is +0.61%. At this rate, an investment would double in approximately 9.5 years.
Historically, 62% of months were positive and 38% were negative. The best month was Nov 2024 with a return of +6.3%, while the worst month was Mar 2020 at -8.2%. The longest winning streak lasted 8 consecutive months, and the longest losing streak was 5 months.
On a daily basis, CDAZX closed higher 49% of trading days. The best single day was Mar 24, 2020 with a return of +5.1%, while the worst single day was Mar 12, 2020 at -6.5%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 2.10% | -0.69% | -4.01% | 4.47% | 5.10% | 1.57% | 8.56% | ||||||
| 2025 | 2.44% | -0.13% | -3.85% | 0.55% | 3.57% | 2.38% | 0.65% | 1.67% | 2.91% | 3.44% | 5.58% | -1.18% | 19.20% |
| 2024 | 1.62% | 2.33% | 3.41% | -2.47% | 2.96% | 0.14% | 0.27% | 2.32% | 1.07% | 2.90% | 6.27% | -2.33% | 19.75% |
| 2023 | -0.45% | -2.88% | 0.63% | -0.31% | -1.40% | 3.16% | 0.92% | 0.30% | -1.36% | -0.92% | 4.02% | 2.35% | 3.90% |
| 2022 | 3.84% | -0.53% | 0.13% | -1.59% | 2.16% | -3.96% | -0.14% | -1.51% | -4.19% | 4.23% | 3.50% | -0.20% | 1.31% |
| 2021 | -0.47% | 2.96% | 6.05% | 3.14% | 3.32% | -2.68% | 0.41% | 0.68% | -1.50% | 2.21% | -0.27% | 5.00% | 20.14% |
Benchmark Metrics
Multi-Manager Directional Alternative Strategies Fund has an annualized alpha of 0.98%, beta of 0.45, and R2 of 0.67 versus S&P 500 Index. Calculated based on daily prices since January 13, 2017.
- This fund participated in 51.29% of S&P 500 Index downside but only 44.03% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.45 indicates this fund moves significantly less than S&P 500 Index - a genuinely defensive profile with reduced participation in both market rallies and downturns.
- Alpha
- 0.98%
- Beta
- 0.45
- R²
- 0.67
- Upside Capture
- 44.03%
- Downside Capture
- 51.29%
Expense Ratio
CDAZX has a high expense ratio of 1.84%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
CDAZX ranks 80 for risk / return — in the top 80% of mutual funds on our site. This means strong returns relative to risk — exactly what professional investors look for. Well-suited for investors who want to maximize return per unit of risk.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Multi-Manager Directional Alternative Strategies Fund (CDAZX) and compare them to S&P 500 Index.
| CDAZX | Benchmark | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.80 | 2.39 | +0.41 |
Sortino ratioReturn per unit of downside risk | 3.97 | 3.25 | +0.71 |
Omega ratioGain probability vs. loss probability | 1.53 | 1.43 | +0.09 |
Calmar ratioReturn relative to maximum drawdown | 3.61 | 3.11 | +0.50 |
Martin ratioReturn relative to average drawdown | 13.51 | 14.38 | -0.87 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Dividends
Dividend History
Multi-Manager Directional Alternative Strategies Fund provided a 21.44% dividend yield over the last twelve months, with an annual payout of $1.66 per share. The fund has been increasing its distributions for 2 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $1.66 | $1.66 | $0.75 | $0.11 | $0.76 | $0.46 | $0.00 | $0.05 | $3.23 | $0.44 |
Dividend yield | 21.44% | 23.28% | 10.21% | 1.58% | 11.48% | 6.28% | 0.00% | 0.79% | 50.33% | 3.97% |
Monthly Dividends
The table displays the monthly dividend distributions for Multi-Manager Directional Alternative Strategies Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.66 | $1.66 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.75 | $0.75 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.11 | $0.11 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.76 | $0.76 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.46 | $0.46 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Multi-Manager Directional Alternative Strategies Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Multi-Manager Directional Alternative Strategies Fund was 30.94%, occurring on Mar 23, 2020. Recovery took 435 trading sessions.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
COVID crash2020 | -30.94%Mar 2020 | 2y 1mo | 1y 8mo | 3y 10moJan 2018 - Dec 2021 |
Bear market2022 | -10.91%Sep 2022 | 7mo 29d | 1y 3mo | 1y 11moFeb 2022 - Jan 2024 |
2025 selloff2025 | -8.54%Apr 2025 | 1mo 17d | 3mo 11d | 4mo 28dFeb 2025 - Jul 2025 |
2026 pullback2026 | -7.32%Mar 2026 | 1mo 24d | 1mo 6d | 3moFeb 2026 - May 2026 |
2024 pullback2024 | -3.90%Aug 2024 | 19d | 18d | 1mo 7dJul 2024 - Aug 2024 |
Drawdown Indicators
| CDAZX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.94% | -56.78% | +25.84% |
Max Drawdown (1Y)Largest decline over 1 year | -7.32% | -9.10% | +1.78% |
Max Drawdown (3Y)Largest decline over 3 years | -8.54% | -18.90% | +10.36% |
Max Drawdown (5Y)Largest decline over 5 years | -10.91% | -25.43% | +14.52% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -6.14% | -10.72% | +4.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.95% | 1.97% | -0.02% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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