- ISIN
- US19767A5891
- Issuer
- BlackRock
- Inception Date
- Jan 3, 2017
- Category
- Small Cap Blend Equities
- Min. Investment
- $100
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Small-Cap
- Asset Class Style
- Blend
Share Price Chart
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Performance
CZMSX Performance Chart
Multi-Manager Small Cap Equity Strategies Fund (CZMSX) is up 16.2% since the beginning of the year. CZMSX is currently trading at $18 per share. Investors who bought $1,000 worth of CZMSX shares 5 years ago would now be looking at an investment worth $1,256.
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Returns By Period
Multi-Manager Small Cap Equity Strategies Fund (CZMSX) has returned 16.19% so far this year and 27.72% over the past 12 months.
Multi-Manager Small Cap Equity Strategies Fund
- 1D
- 1.83%
- 1M
- 3.85%
- YTD
- 16.19%
- 6M
- 13.23%
- 1Y
- 27.72%
- 3Y*
- 11.53%
- 5Y*
- 4.67%
- 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%
CZMSX Monthly Returns History
Based on dividend-adjusted daily data since Feb 1, 2017, CZMSX's average daily return is +0.05%, while the average monthly return is +0.88%. At this rate, an investment would double in approximately 6.6 years.
Historically, 59% of months were positive and 41% were negative. The best month was Nov 2020 with a return of +16.7%, while the worst month was Mar 2020 at -21.8%. The longest winning streak lasted 7 consecutive months, and the longest losing streak was 4 months.
On a daily basis, CZMSX closed higher 52% of trading days. The best single day was Dec 9, 2021 with a return of +17.0%, while the worst single day was Dec 10, 2021 at -16.6%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 4.70% | 1.18% | -5.18% | 9.88% | 2.72% | 2.48% | 16.19% | ||||||
| 2025 | 2.99% | -5.86% | -7.48% | -2.65% | 5.30% | 3.58% | 0.38% | 5.67% | -0.78% | 0.85% | 1.08% | -0.63% | 1.55% |
| 2024 | -3.22% | 5.05% | 3.35% | -6.98% | 3.49% | -0.89% | 8.72% | -1.00% | -0.00% | -2.09% | 11.08% | -7.51% | 8.55% |
| 2023 | 9.68% | -1.26% | -4.84% | -1.77% | -1.87% | 8.57% | 5.26% | -4.23% | -5.56% | -6.73% | 8.51% | 11.28% | 15.65% |
| 2022 | -8.41% | 0.58% | -0.06% | -9.25% | 0.70% | -7.79% | 9.13% | -2.87% | -9.45% | 10.23% | 3.54% | -5.92% | -20.05% |
| 2021 | 2.32% | 7.70% | 1.57% | 3.62% | -0.37% | 0.51% | -1.53% | 2.03% | -1.80% | 5.28% | -3.71% | 2.81% | 19.40% |
Benchmark Metrics
Multi-Manager Small Cap Equity Strategies Fund has an annualized alpha of -3.89%, beta of 1.07, and R2 of 0.67 versus S&P 500 Index. Calculated based on daily prices since February 01, 2017.
- This fund participated in 115.20% of S&P 500 Index downside but only 96.23% of its upside - more exposed to losses than it benefited from rallies.
- This fund had an annualized alpha of -3.89% versus S&P 500 Index - delivering less than market exposure alone would predict.
- With beta of 1.07 and R2 of 0.67, this fund moves broadly in line with S&P 500 Index - much of its variation is explained by market exposure rather than independent behavior.
- Alpha
- -3.89%
- Beta
- 1.07
- R²
- 0.67
- Upside Capture
- 96.23%
- Downside Capture
- 115.20%
Expense Ratio
CZMSX has a high expense ratio of 0.99%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
CZMSX ranks 39 for risk / return — below 39% of mutual funds on our site. The returns aren't fully compensating for the risk involved. This isn't necessarily a dealbreaker, but factor it into your decision — especially if you're risk-averse.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Multi-Manager Small Cap Equity Strategies Fund (CZMSX) 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.
| CZMSX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.51 | ||
| Sortino ratioReturn per unit of downside risk | -0.50 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.37 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 2.75 | 2.78 | -0.03 |
| Martin ratioReturn relative to average drawdown | 9.08 | 12.44 | -3.36 |
Dividends
Dividend History
Multi-Manager Small Cap Equity Strategies Fund provided a 7.61% dividend yield over the last twelve months, with an annual payout of $1.36 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 | $1.36 | $1.36 | $0.50 | $0.32 | $1.42 | $3.24 | $0.06 | $0.89 | $1.02 | $1.22 |
Dividend yield | 7.61% | 8.85% | 3.05% | 2.04% | 10.31% | 17.14% | 0.31% | 5.75% | 7.94% | 7.88% |
Monthly Dividends
The table displays the monthly dividend distributions for Multi-Manager Small Cap Equity 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 | $1.36 | $1.36 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.50 | $0.50 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.32 | $0.32 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.42 | $1.42 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $3.24 | $3.24 |
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 Small Cap Equity 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 Small Cap Equity Strategies Fund was 40.96%, occurring on Mar 18, 2020. Recovery took 164 trading sessions.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
COVID crash2020 | -40.96%Mar 2020 | 2mo 1d | 7mo 26d | 9mo 27dJan 2020 - Nov 2020 |
Bear market2022 | -37.16%Sep 2022 | 9mo 20d | 3y 8mo | 4y 6moDec 2021 - Jun 2026 |
Rate-hike selloffLate 2018 | -26.76%Dec 2018 | 3mo 20d | 1y 21d | 1y 4moSep 2018 - Jan 2020 |
2021 correction2021 | -10.39%Dec 2021 | 22d | 8d | 1moNov 2021 - Dec 2021 |
2018 pullback2018 | -9.19%Feb 2018 | 10d | 3mo 8d | 3mo 18dJan 2018 - May 2018 |
Drawdown Indicators
| CZMSX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.96% | -56.78% | +15.82% |
Max Drawdown (1Y)Largest decline over 1 year | -10.00% | -9.10% | -0.90% |
Max Drawdown (3Y)Largest decline over 3 years | -27.73% | -18.90% | -8.83% |
Max Drawdown (5Y)Largest decline over 5 years | -37.16% | -25.43% | -11.73% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | 0.00% | -1.80% | +1.80% |
Average DrawdownAverage peak-to-trough decline | -13.59% | -10.71% | -2.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.02% | 2.03% | +0.99% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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