Miller Convertible Plus Fund (MCPIX)
Under normal conditions, 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
| ISIN | US60055P8059 |
|---|---|
| CUSIP | 60055P805 |
| Issuer | Miller Investment |
| Inception Date | Dec 30, 2014 |
| Category | Convertible Bonds |
| Min. Investment | $1,000,000 |
| Asset Class | Bond |
Expense Ratio
MCPIX has a high expense ratio of 1.80%, indicating higher-than-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 Miller Convertible Plus 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 Plus Fund had a return of 1.80% year-to-date (YTD) and 8.07% in the last 12 months.
| Period | Return | Benchmark |
|---|---|---|
| Year-To-Date | 1.80% | 11.18% |
| 1 month | 1.94% | 5.60% |
| 6 months | 7.36% | 17.48% |
| 1 year | 8.07% | 26.33% |
| 5 years (annualized) | 4.35% | 13.16% |
| 10 years (annualized) | N/A | 10.99% |
Monthly Returns
The table below presents the monthly returns of MCPIX, 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | -0.58% | 1.21% | 2.27% | -2.87% | 1.80% | ||||||||
| 2023 | 4.26% | -2.80% | -0.23% | -0.50% | -0.90% | 2.88% | 2.02% | -1.21% | -2.18% | -3.56% | 3.85% | 4.99% | 6.32% |
| 2022 | -3.95% | 1.48% | 1.72% | -7.55% | -1.79% | -5.46% | 3.50% | -2.16% | -7.07% | 4.57% | 3.57% | -2.84% | -15.73% |
| 2021 | 2.05% | 1.23% | -1.91% | 0.75% | -0.92% | -0.87% | -0.56% | -0.38% | -2.12% | 0.39% | -0.73% | 4.92% | 1.67% |
| 2020 | 1.64% | -0.58% | -16.41% | 8.82% | 4.08% | 5.13% | 6.92% | 6.16% | -2.75% | -1.07% | 5.09% | 5.33% | 21.58% |
| 2019 | 4.79% | 2.50% | -0.31% | 4.48% | -4.28% | 6.74% | 2.30% | -1.53% | -0.17% | -0.43% | 1.61% | 2.67% | 19.38% |
| 2018 | 1.48% | -1.46% | 0.96% | -0.04% | 3.00% | -1.52% | 0.72% | 2.89% | -2.24% | -4.88% | -2.28% | -4.08% | -7.54% |
| 2017 | 1.03% | 0.63% | 0.09% | -0.59% | -0.98% | 2.24% | 1.69% | -1.17% | 1.82% | 1.12% | 0.33% | 0.72% | 7.11% |
| 2016 | -7.17% | 0.47% | 5.40% | 2.98% | 2.80% | 0.38% | 5.96% | 0.80% | 2.44% | -2.73% | 3.92% | 0.88% | 16.55% |
| 2015 | 0.25% | 4.24% | 3.91% | 2.54% | 1.89% | -0.84% | -0.18% | -5.75% | -4.63% | 5.26% | 3.43% | -4.55% | 4.89% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
The current rank of MCPIX is 30, suggesting that the investment has average results relative to other mutual funds in terms of risk-adjusted performance. This ranking is determined by the cumulative values of the indicators listed below.
MCPIX (Miller Convertible Plus Fund)
Risk-Adjusted Performance Indicators
The charts below present risk-adjusted performance metrics for Miller Convertible Plus Fund (MCPIX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
Dividends
Dividend History
Miller Convertible Plus Fund granted a 1.86% dividend yield in the last twelve months. The annual payout for that period amounted to $0.39 per share.
| Period | TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.39 | $0.61 | $1.22 | $2.89 | $1.09 | $0.39 | $1.62 | $1.41 | $0.46 | $0.50 |
Dividend yield | 1.86% | 2.91% | 6.01% | 11.44% | 3.91% | 1.66% | 7.97% | 5.96% | 1.95% | 2.44% |
Monthly Dividends
The table displays the monthly dividend distributions for Miller Convertible Plus 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | $0.00 | $0.00 | $0.17 | $0.00 | $0.00 | $0.17 | |||||||
| 2023 | $0.00 | $0.00 | $0.39 | $0.00 | $0.00 | $0.02 | $0.00 | $0.00 | $0.08 | $0.00 | $0.00 | $0.13 | $0.61 |
| 2022 | $0.00 | $0.00 | $0.83 | $0.00 | $0.00 | $0.21 | $0.00 | $0.00 | $0.11 | $0.00 | $0.00 | $0.07 | $1.22 |
| 2021 | $0.00 | $0.00 | $0.19 | $0.00 | $0.00 | $0.88 | $0.00 | $0.00 | $0.13 | $0.00 | $0.00 | $1.69 | $2.89 |
| 2020 | $0.00 | $0.00 | $0.03 | $0.00 | $0.00 | $0.04 | $0.00 | $0.00 | $0.09 | $0.00 | $0.00 | $0.93 | $1.09 |
| 2019 | $0.00 | $0.00 | $0.02 | $0.00 | $0.00 | $0.08 | $0.00 | $0.00 | $0.03 | $0.00 | $0.00 | $0.26 | $0.39 |
| 2018 | $0.00 | $0.00 | $0.20 | $0.00 | $0.00 | $0.32 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.10 | $1.62 |
| 2017 | $0.00 | $0.00 | $0.13 | $0.00 | $0.00 | $0.22 | $0.00 | $0.00 | $0.14 | $0.00 | $0.00 | $0.92 | $1.41 |
| 2016 | $0.00 | $0.00 | $0.04 | $0.00 | $0.00 | $0.05 | $0.00 | $0.00 | $0.23 | $0.00 | $0.00 | $0.14 | $0.46 |
| 2015 | $0.05 | $0.00 | $0.00 | $0.15 | $0.00 | $0.00 | $0.05 | $0.00 | $0.00 | $0.25 | $0.50 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way.
Worst Drawdowns
The table below displays the maximum drawdowns of the Miller Convertible Plus 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 Plus Fund was 26.38%, occurring on Mar 23, 2020. Recovery took 93 trading sessions.
The current Miller Convertible Plus Fund drawdown is 12.77%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -26.38% | Feb 21, 2020 | 22 | Mar 23, 2020 | 93 | Aug 4, 2020 | 115 |
| -23.4% | Feb 16, 2021 | 411 | Sep 30, 2022 | — | — | — |
| -18.41% | Jun 24, 2015 | 161 | Feb 11, 2016 | 116 | Jul 28, 2016 | 277 |
| -15.16% | Sep 4, 2018 | 78 | Dec 24, 2018 | 131 | Jul 3, 2019 | 209 |
| -6.92% | Jan 24, 2018 | 12 | Feb 8, 2018 | 79 | Jun 4, 2018 | 91 |
Volatility
Volatility Chart
The current Miller Convertible Plus Fund volatility is 1.84%, 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.