Miller Convertible Bond Fund (MCIFX)
The fund invests at least 80% of its assets (defined as net assets plus borrowings for investment purposes) in convertible bonds. The managers define convertible bonds as including synthetic convertible bonds and other securities that the advisor identifies as having characteristics similar to convertible bonds.
Fund Info
US60055P2011
60055P201
Dec 26, 2007
$1,000,000
Expense Ratio
MCIFX has a high expense ratio of 0.97%, indicating higher-than-average management fees.
Share Price Chart
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Compare to other instruments
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Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in Miller Convertible Bond 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
Miller Convertible Bond Fund had a return of 2.04% year-to-date (YTD) and 5.30% in the last 12 months. Over the past 10 years, Miller Convertible Bond Fund had an annualized return of 3.86%, while the S&P 500 had an annualized return of 11.26%, indicating that Miller Convertible Bond Fund did not perform as well as the benchmark.
MCIFX
2.04%
0.70%
2.28%
5.30%
3.43%
3.86%
^GSPC (Benchmark)
4.01%
1.13%
9.82%
22.80%
12.93%
11.26%
Monthly Returns
The table below presents the monthly returns of MCIFX, 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 | 1.57% | 2.04% | |||||||||||
| 2024 | 1.04% | 1.97% | 1.92% | -2.24% | 0.63% | 0.54% | 1.50% | 0.78% | 0.41% | -0.93% | 2.18% | -2.08% | 5.75% |
| 2023 | 2.77% | -2.06% | 0.25% | -0.16% | -0.57% | 2.48% | 2.11% | -0.72% | -1.72% | -3.20% | 2.72% | 4.31% | 6.06% |
| 2022 | -3.23% | 0.65% | 0.99% | -5.14% | -1.07% | -3.50% | 2.60% | -1.74% | -4.54% | 3.40% | 2.79% | -1.82% | -10.55% |
| 2021 | 0.95% | 1.21% | -0.71% | 0.88% | -0.13% | -0.08% | -0.00% | 0.21% | -1.65% | 0.98% | -0.35% | -1.22% | 0.03% |
| 2020 | 0.63% | -1.25% | -10.17% | 7.24% | 3.29% | 4.24% | 5.14% | 4.67% | -1.94% | -1.22% | 5.31% | 3.38% | 19.61% |
| 2019 | 3.79% | 1.74% | -0.08% | 3.45% | -3.18% | 4.29% | 0.55% | -1.34% | 0.63% | 0.16% | 1.12% | 1.65% | 13.28% |
| 2018 | 0.77% | -1.07% | 0.82% | -0.46% | 1.40% | -0.95% | 0.71% | 2.03% | -1.48% | -3.50% | -1.29% | -4.34% | -7.31% |
| 2017 | 0.63% | 0.55% | 0.49% | 0.23% | -0.85% | 1.98% | 1.24% | -0.84% | 1.53% | 1.38% | 0.61% | -1.44% | 5.59% |
| 2016 | -4.95% | 0.18% | 4.24% | 1.78% | 1.83% | 0.06% | 3.62% | 0.71% | 1.14% | -1.80% | 2.39% | 0.22% | 9.50% |
| 2015 | -0.74% | 2.96% | 1.21% | 0.56% | 1.43% | -0.94% | -0.40% | -3.11% | -2.97% | 3.67% | 2.30% | -3.54% | 0.10% |
| 2014 | 0.88% | 3.27% | 0.14% | -0.00% | 0.47% | 1.68% | -1.31% | 2.26% | -2.45% | 0.32% | -0.08% | -3.03% | 2.00% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
The current rank of MCIFX is 49, indicating average performance compared to other mutual funds on our website. Here’s a breakdown of how it compares using common performance measures.
Risk-Adjusted Performance Indicators
The charts below present risk-adjusted performance metrics for Miller Convertible Bond Fund (MCIFX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
Dividends
Dividend History
Miller Convertible Bond Fund provided a 4.03% dividend yield over the last twelve months, with an annual payout of $0.52 per share.
| Period | TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.52 | $0.52 | $0.45 | $0.49 | $0.49 | $0.50 | $0.38 | $0.41 | $0.51 | $0.31 | $0.33 | $0.44 |
Dividend yield | 4.03% | 4.12% | 3.55% | 4.00% | 3.41% | 3.43% | 2.96% | 3.53% | 3.97% | 2.45% | 2.77% | 3.59% |
Monthly Dividends
The table displays the monthly dividend distributions for Miller Convertible Bond 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 | ||||||||||
| 2024 | $0.00 | $0.00 | $0.21 | $0.00 | $0.00 | $0.12 | $0.00 | $0.00 | $0.09 | $0.00 | $0.00 | $0.10 | $0.52 |
| 2023 | $0.00 | $0.00 | $0.17 | $0.00 | $0.00 | $0.08 | $0.00 | $0.00 | $0.12 | $0.00 | $0.00 | $0.08 | $0.45 |
| 2022 | $0.00 | $0.00 | $0.19 | $0.00 | $0.00 | $0.20 | $0.00 | $0.00 | $0.07 | $0.00 | $0.00 | $0.03 | $0.49 |
| 2021 | $0.00 | $0.00 | $0.12 | $0.00 | $0.00 | $0.30 | $0.00 | $0.00 | $0.05 | $0.00 | $0.00 | $0.02 | $0.49 |
| 2020 | $0.00 | $0.00 | $0.05 | $0.00 | $0.00 | $0.04 | $0.00 | $0.00 | $0.15 | $0.00 | $0.00 | $0.26 | $0.50 |
| 2019 | $0.00 | $0.00 | $0.07 | $0.00 | $0.00 | $0.10 | $0.00 | $0.00 | $0.06 | $0.00 | $0.00 | $0.15 | $0.38 |
| 2018 | $0.00 | $0.00 | $0.09 | $0.00 | $0.00 | $0.19 | $0.00 | $0.00 | $0.02 | $0.00 | $0.00 | $0.12 | $0.41 |
| 2017 | $0.00 | $0.00 | $0.09 | $0.00 | $0.00 | $0.14 | $0.00 | $0.00 | $0.13 | $0.00 | $0.00 | $0.15 | $0.51 |
| 2016 | $0.00 | $0.00 | $0.03 | $0.00 | $0.00 | $0.09 | $0.00 | $0.00 | $0.07 | $0.00 | $0.00 | $0.12 | $0.31 |
| 2015 | $0.00 | $0.00 | $0.11 | $0.00 | $0.00 | $0.10 | $0.00 | $0.00 | $0.05 | $0.00 | $0.00 | $0.07 | $0.33 |
| 2014 | $0.13 | $0.00 | $0.00 | $0.11 | $0.00 | $0.00 | $0.08 | $0.00 | $0.00 | $0.13 | $0.44 |
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 Miller Convertible Bond 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 Miller Convertible Bond Fund was 17.93%, occurring on Sep 30, 2022. The portfolio has not yet recovered.
The current Miller Convertible Bond Fund drawdown is 1.99%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -17.93% | Feb 16, 2021 | 411 | Sep 30, 2022 | — | — | — |
| -17.36% | Feb 21, 2020 | 22 | Mar 23, 2020 | 72 | Jul 6, 2020 | 94 |
| -16.93% | May 2, 2011 | 108 | Oct 3, 2011 | 343 | Feb 15, 2013 | 451 |
| -12.58% | Jun 24, 2015 | 161 | Feb 11, 2016 | 115 | Jul 27, 2016 | 276 |
| -10.69% | Sep 4, 2018 | 79 | Dec 26, 2018 | 233 | Nov 27, 2019 | 312 |
Volatility
Volatility Chart
The current Miller Convertible Bond Fund volatility is 1.23%, 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.