- ISIN
- US19767A6212
- Issuer
- Columbia
- Inception Date
- Jan 2, 2017
- Category
- Multistrategy
- Min. Investment
- $100
- Distribution Policy
- Distributing
- Asset Class
- Alternatives
Share Price Chart
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Performance
CZAMX Performance Chart
Multi-Manager Alternative Strategies Fund (CZAMX) is up 3.7% since the beginning of the year. CZAMX is currently trading at $10 per share. Investors who bought $1,000 worth of CZAMX shares 5 years ago would now be looking at an investment worth $1,160.
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Returns By Period
Multi-Manager Alternative Strategies Fund (CZAMX) has returned 3.70% so far this year and 9.91% over the past 12 months.
Multi-Manager Alternative Strategies Fund
- 1D
- 0.11%
- 1M
- -0.31%
- YTD
- 3.70%
- 6M
- 3.70%
- 1Y
- 9.91%
- 3Y*
- 4.16%
- 5Y*
- 3.01%
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
CZAMX Monthly Returns History
Based on dividend-adjusted daily data since Feb 1, 2017, CZAMX's average daily return is +0.01%, while the average monthly return is +0.23%. At this rate, an investment would double in approximately 25.1 years.
Historically, 59% of months were positive and 41% were negative. The best month was Apr 2020 with a return of +2.7%, while the worst month was Oct 2024 at -2.6%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 4 months.
On a daily basis, CZAMX closed higher 42% of trading days. The best single day was Mar 26, 2020 with a return of +1.4%, while the worst single day was Mar 16, 2020 at -2.0%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 1.74% | 1.60% | -1.47% | 1.92% | 0.42% | -0.52% | 3.70% | ||||||
| 2025 | 0.77% | -0.11% | -0.77% | -1.55% | 0.22% | 1.01% | 0.11% | 1.33% | 1.53% | 0.43% | 0.64% | 0.92% | 4.59% |
| 2024 | 0.33% | 0.99% | 1.85% | -0.32% | 0.75% | -0.53% | 0.53% | -0.85% | 1.39% | -2.64% | 0.98% | -0.42% | 1.99% |
| 2023 | 0.77% | -0.11% | -0.77% | 0.78% | -0.44% | 1.10% | 0.66% | -0.33% | -0.11% | -0.65% | 0.77% | 1.39% | 3.07% |
| 2022 | -0.53% | 0.32% | 2.22% | 0.83% | -0.31% | -0.21% | 0.00% | 1.03% | 0.92% | -0.00% | -1.21% | -0.21% | 2.85% |
| 2021 | 0.10% | 0.84% | 0.31% | 0.93% | 0.82% | -0.71% | -0.72% | -0.10% | -0.00% | 0.62% | -2.06% | 0.80% | 0.80% |
Benchmark Metrics
Multi-Manager Alternative Strategies Fund has an annualized alpha of 1.67%, beta of 0.08, and R2 of 0.18 versus S&P 500 Index. Calculated based on daily prices since February 01, 2017.
- This fund participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (11.93%) than losses (10.92%) - typical of diversified or defensive assets.
- Beta of 0.08 may look defensive, but with R2 of 0.18 this fund is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this fund's risk.
- R2 of 0.18 means this fund moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 1.67%
- Beta
- 0.08
- R²
- 0.18
- Upside Capture
- 11.93%
- Downside Capture
- 10.92%
Expense Ratio
CZAMX has a high expense ratio of 1.27%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
CZAMX ranks 92 for risk / return — in the top 92% 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 Alternative Strategies Fund (CZAMX) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| CZAMX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.90 | ||
| Sortino ratioReturn per unit of downside risk | +1.56 | ||
| Omega ratioGain probability vs. loss probability | 1.57 | 1.37 | +0.20 |
| Calmar ratioReturn relative to maximum drawdown | 5.56 | 2.78 | +2.78 |
| Martin ratioReturn relative to average drawdown | 17.63 | 12.44 | +5.19 |
Dividends
Dividend History
Multi-Manager Alternative Strategies Fund provided a 3.09% dividend yield over the last twelve months, with an annual payout of $0.29 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.29 | $0.29 | $0.19 | $0.24 | $0.70 | $0.14 | $0.08 | $0.19 | $0.13 |
Dividend yield | 3.09% | 3.20% | 2.11% | 2.60% | 7.74% | 1.44% | 0.89% | 2.11% | 1.48% |
Monthly Dividends
The table displays the monthly dividend distributions for Multi-Manager 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 | $0.29 | $0.29 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.19 | $0.19 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.24 | $0.24 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.70 | $0.70 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.14 | $0.14 |
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 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 Alternative Strategies Fund was 7.16%, occurring on Mar 23, 2020. Recovery took 77 trading sessions.
The current Multi-Manager Alternative Strategies Fund drawdown is 0.83%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
COVID crash2020 | -7.16%Mar 2020 | 28d | 3mo 22d | 4mo 20dFeb 2020 - Jul 2020 |
2025 selloff2025 | -5.52%Apr 2025 | 8mo 28d | 5mo 23d | 1y 2moJul 2024 - Oct 2025 |
Rate-hike selloffLate 2018 | -5.15%Nov 2018 | 9mo 21d | 7mo 19d | 1y 5moJan 2018 - Jul 2019 |
Bear market2022 | -3.71%Jan 2022 | 7mo 18d | 1mo 29d | 9mo 17dJun 2021 - Mar 2022 |
2017 pullback2017 | -3.46%Aug 2017 | 5mo 12d | 5mo 4d | 10mo 16dMar 2017 - Jan 2018 |
Drawdown Indicators
| CZAMX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -7.16% | -56.78% | +49.62% |
Max Drawdown (1Y)Largest decline over 1 year | -1.79% | -9.10% | +7.31% |
Max Drawdown (3Y)Largest decline over 3 years | -5.52% | -18.90% | +13.38% |
Max Drawdown (5Y)Largest decline over 5 years | -5.52% | -25.43% | +19.91% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -0.83% | -1.80% | +0.97% |
Average DrawdownAverage peak-to-trough decline | -1.54% | -10.71% | +9.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.56% | 2.03% | -1.47% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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