Multi-Manager Directional Alternative Strategies Fund (CDAZX)
The investment seeks capital appreciation. The fund pursues its investment objective by allocating the fund's assets among different asset managers that collectively use various investment styles and strategies, including, for example, fundamental (bottom-up), macroeconomic (top-down), and/or quantitative methods or models, across different markets. It may invest in foreign and domestic equity securities, and debt instruments, as well as derivative instruments, and exchange-traded funds (ETFs) and other investment companies.
Fund Info
US19767A6139
Jan 2, 2017
$100
Large-Cap
Blend
Expense Ratio
CDAZX has a high expense ratio of 1.84%, indicating above-average management fees.
Share Price Chart
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Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in Multi-Manager Directional Alternative Strategies Fund, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
Returns By Period
Multi-Manager Directional Alternative Strategies Fund (CDAZX) returned -0.81% year-to-date (YTD) and 11.52% over the past 12 months.
CDAZX
-0.81%
3.39%
-1.46%
11.52%
10.35%
N/A
^GSPC (Benchmark)
-3.70%
13.67%
-5.18%
9.18%
14.14%
10.43%
Monthly Returns
The table below presents the monthly returns of CDAZX, with color gradation from worst to best to easily spot seasonal factors. Returns are adjusted for dividends.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | 2.44% | -0.13% | -3.85% | 0.55% | 0.27% | -0.81% | |||||||
| 2024 | 1.62% | 2.32% | 3.41% | -2.47% | 2.96% | 0.14% | 0.27% | 2.32% | 1.06% | 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% | 3.89% |
| 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% | 0.69% | -1.50% | 2.21% | -0.27% | 5.00% | 20.14% |
| 2020 | -2.03% | -5.78% | -8.17% | 2.74% | -0.50% | 1.00% | 2.49% | 2.43% | -1.58% | -1.93% | 3.44% | 2.06% | -6.39% |
| 2019 | 4.36% | 0.75% | -0.00% | 0.44% | -3.39% | 3.36% | 0.29% | -1.91% | 1.35% | 0.59% | 1.03% | 1.23% | 8.17% |
| 2018 | 4.01% | -2.89% | -1.44% | -0.83% | -0.74% | -2.05% | 1.71% | -0.47% | 0.28% | -4.96% | -0.40% | -4.63% | -12.03% |
| 2017 | 0.97% | 1.93% | -0.09% | 0.28% | 1.04% | 0.37% | 1.67% | 1.56% | 1.08% | 0.89% | 1.50% | 0.63% | 12.47% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
With an overall rank of 84, CDAZX is among the top 16% of mutual funds on our website when it comes to balancing risk and reward. Below is a breakdown of how it compares using common performance measures.
Risk-Adjusted Performance Indicators
The charts below present risk-adjusted performance metrics for Multi-Manager Directional Alternative Strategies Fund (CDAZX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
Dividends
Dividend History
Multi-Manager Directional Alternative Strategies Fund provided a 3.95% dividend yield over the last twelve months, with an annual payout of $0.29 per share.
| Period | TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.29 | $0.29 | $0.09 | $0.15 | $0.08 | $0.00 | $0.00 | $0.06 | $0.17 |
Dividend yield | 3.95% | 3.92% | 1.34% | 2.19% | 1.11% | 0.00% | 0.00% | 0.89% | 1.56% |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |||||||
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.29 | $0.29 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.09 | $0.09 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.15 | $0.15 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.08 | $0.08 |
| 2020 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| 2019 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| 2018 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.06 | $0.06 |
| 2017 | $0.17 | $0.17 |
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.
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.
The current Multi-Manager Directional Alternative Strategies Fund drawdown is 5.43%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -30.94% | Jan 29, 2018 | 541 | Mar 23, 2020 | 435 | Dec 10, 2021 | 976 |
| -10.91% | Feb 3, 2022 | 166 | Sep 30, 2022 | 318 | Jan 8, 2024 | 484 |
| -8.54% | Feb 19, 2025 | 34 | Apr 7, 2025 | — | — | — |
| -3.9% | Jul 17, 2024 | 14 | Aug 5, 2024 | 14 | Aug 23, 2024 | 28 |
| -3.55% | Dec 9, 2024 | 8 | Dec 18, 2024 | 20 | Jan 21, 2025 | 28 |
Volatility
Volatility Chart
The current Multi-Manager Directional Alternative Strategies Fund volatility is 3.85%, representing the average percentage change in the investments's value, either up or down over the past month. The chart below shows the rolling one-month volatility.