Muzinich Credit Opportunities Fund (MZCSX)
The fund seeks to achieve its objective by allocating the fund's assets among various credit sectors of the global fixed income markets which the Advisor finds attractive from time-to-time. It will normally invest at least 80% of its net assets in corporate bonds and syndicated loans that the Advisor believes have attractive risk/reward characteristics and which are issued by U.S. and foreign corporations. The fund may invest up to 70% of its net assets in foreign securities, including up to 40% in issuers located in emerging market countries.
Fund Info
US74316J5323
74316J532
Jan 2, 2013
$5,000,000
Expense Ratio
MZCSX features an expense ratio of 0.60%, falling within the medium range.
Share Price Chart
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Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in Muzinich Credit Opportunities 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
Muzinich Credit Opportunities Fund had a return of 1.24% year-to-date (YTD) and 6.54% in the last 12 months. Over the past 10 years, Muzinich Credit Opportunities Fund had an annualized return of 2.25%, while the S&P 500 had an annualized return of 11.26%, indicating that Muzinich Credit Opportunities Fund did not perform as well as the benchmark.
MZCSX
1.24%
0.92%
1.43%
6.54%
0.89%
2.25%
^GSPC (Benchmark)
4.01%
1.13%
9.82%
22.80%
12.93%
11.26%
Monthly Returns
The table below presents the monthly returns of MZCSX, 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 | 0.82% | 1.24% | |||||||||||
| 2024 | -0.00% | -0.72% | 1.17% | -1.33% | 1.04% | 0.82% | 1.65% | 1.52% | 0.96% | -1.39% | 1.11% | -0.56% | 4.28% |
| 2023 | 2.53% | -1.54% | 1.48% | 0.41% | -0.72% | 0.09% | 0.62% | -0.31% | -1.40% | -0.63% | 3.51% | 3.35% | 7.48% |
| 2022 | -1.43% | -1.25% | -0.91% | -1.88% | -0.40% | -1.41% | 1.54% | -1.93% | -3.47% | -0.21% | 2.79% | -0.73% | -9.04% |
| 2021 | -0.09% | -0.18% | -0.23% | 0.54% | 0.36% | 0.47% | 0.45% | 0.00% | -0.36% | -0.27% | -0.09% | -3.37% | -2.80% |
| 2020 | 0.83% | -0.18% | -7.13% | 4.05% | 2.18% | 1.18% | 3.05% | -0.18% | -0.49% | 0.18% | 2.17% | 0.28% | 5.63% |
| 2019 | 1.53% | 0.38% | 1.57% | 0.65% | 0.65% | 2.12% | 0.45% | 2.43% | -0.43% | 0.35% | 0.09% | -3.02% | 6.85% |
| 2018 | 0.19% | -0.84% | 0.00% | -0.28% | -0.09% | 0.08% | 0.38% | 0.38% | -0.35% | -0.29% | 0.10% | 0.96% | 0.22% |
| 2017 | 0.57% | 0.76% | -0.20% | 0.85% | 0.56% | 0.14% | 0.66% | 0.19% | 0.47% | 0.46% | -0.18% | 0.07% | 4.44% |
| 2016 | 0.49% | 0.87% | 1.36% | 0.95% | 0.00% | 1.01% | 1.50% | 0.37% | -0.12% | -0.28% | -0.75% | -0.23% | 5.27% |
| 2015 | 1.45% | 0.38% | -0.11% | 0.29% | 0.00% | -0.74% | 0.39% | -0.48% | -0.15% | 1.07% | -0.19% | -0.40% | 1.49% |
| 2014 | 0.00% | 1.35% | 0.46% | 0.10% | 1.05% | 0.41% | -0.76% | 0.77% | -0.55% | 0.67% | -0.29% | -0.24% | 2.98% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
With an overall rank of 82, MZCSX is among the top 18% 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 Muzinich Credit Opportunities Fund (MZCSX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
Dividends
Dividend History
Muzinich Credit Opportunities Fund provided a 5.13% dividend yield over the last twelve months, with an annual payout of $0.50 per share. The fund has been increasing its distributions for 2 consecutive years.
| Period | TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.50 | $0.50 | $0.40 | $0.06 | $0.42 | $0.27 | $0.31 | $0.22 | $0.27 | $0.31 | $0.26 | $0.31 |
Dividend yield | 5.13% | 5.19% | 4.10% | 0.65% | 4.01% | 2.41% | 2.85% | 2.11% | 2.54% | 2.96% | 2.57% | 2.97% |
Monthly Dividends
The table displays the monthly dividend distributions for Muzinich Credit Opportunities 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 | $0.07 | $0.00 | $0.00 | $0.10 | $0.00 | $0.00 | $0.09 | $0.00 | $0.00 | $0.24 | $0.50 |
| 2023 | $0.00 | $0.00 | $0.05 | $0.00 | $0.00 | $0.05 | $0.00 | $0.00 | $0.06 | $0.00 | $0.00 | $0.25 | $0.40 |
| 2022 | $0.00 | $0.00 | $0.04 | $0.00 | $0.00 | $0.02 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.06 |
| 2021 | $0.00 | $0.00 | $0.06 | $0.00 | $0.00 | $0.04 | $0.00 | $0.00 | $0.07 | $0.00 | $0.00 | $0.24 | $0.42 |
| 2020 | $0.00 | $0.00 | $0.07 | $0.00 | $0.00 | $0.06 | $0.00 | $0.00 | $0.06 | $0.00 | $0.00 | $0.09 | $0.27 |
| 2019 | $0.00 | $0.00 | $0.09 | $0.00 | $0.00 | $0.07 | $0.00 | $0.00 | $0.06 | $0.00 | $0.00 | $0.09 | $0.31 |
| 2018 | $0.00 | $0.00 | $0.08 | $0.00 | $0.00 | $0.08 | $0.00 | $0.00 | $0.06 | $0.00 | $0.00 | $0.00 | $0.22 |
| 2017 | $0.00 | $0.00 | $0.09 | $0.00 | $0.00 | $0.08 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.11 | $0.27 |
| 2016 | $0.00 | $0.00 | $0.05 | $0.00 | $0.00 | $0.08 | $0.00 | $0.00 | $0.09 | $0.00 | $0.00 | $0.10 | $0.31 |
| 2015 | $0.00 | $0.00 | $0.07 | $0.00 | $0.00 | $0.07 | $0.00 | $0.00 | $0.07 | $0.00 | $0.00 | $0.06 | $0.26 |
| 2014 | $0.11 | $0.00 | $0.00 | $0.10 | $0.00 | $0.00 | $0.03 | $0.00 | $0.00 | $0.07 | $0.31 |
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 Muzinich Credit Opportunities 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 Muzinich Credit Opportunities Fund was 15.45%, occurring on Oct 20, 2022. The portfolio has not yet recovered.
The current Muzinich Credit Opportunities Fund drawdown is 1.26%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -15.45% | Sep 15, 2021 | 278 | Oct 20, 2022 | — | — | — |
| -14.33% | Dec 31, 2019 | 57 | Mar 23, 2020 | 92 | Aug 3, 2020 | 149 |
| -2.24% | May 23, 2013 | 23 | Jun 25, 2013 | 16 | Jul 18, 2013 | 39 |
| -1.79% | Sep 8, 2016 | 48 | Nov 14, 2016 | 103 | Apr 13, 2017 | 151 |
| -1.6% | Aug 7, 2020 | 35 | Sep 25, 2020 | 29 | Nov 5, 2020 | 64 |
Volatility
Volatility Chart
The current Muzinich Credit Opportunities Fund volatility is 0.73%, 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.