Muzinich U.S. High Yield Credit Fund (MZHSX)
The fund normally invests at least 80% of its net assets in high yield credit issued by companies with a domicile or principle place of business in the U.S. The advisor typically focuses on debt instruments rated below investment grade, defined as below BBB- or Baa3 by Standard & Poor’s, Fitch or Moody’s, as applicable, or which are deemed equivalent by the Advisor.
Fund Info
US74316J5653
Mar 31, 2016
$5,000,000
Expense Ratio
MZHSX features an expense ratio of 0.58%, 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 U.S. High Yield Credit 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 U.S. High Yield Credit Fund had a return of 1.58% year-to-date (YTD) and 8.96% in the last 12 months.
MZHSX
1.58%
0.94%
3.44%
8.96%
1.76%
N/A
^GSPC (Benchmark)
4.22%
2.22%
9.51%
22.46%
12.74%
11.29%
Monthly Returns
The table below presents the monthly returns of MZHSX, 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 | 1.32% | 1.58% | |||||||||||
| 2024 | 0.35% | 0.58% | 1.00% | -0.34% | 1.01% | 0.69% | 1.54% | 1.30% | 1.14% | -0.76% | 1.27% | -0.35% | 7.65% |
| 2023 | 3.11% | -1.31% | 1.17% | 0.99% | -0.95% | 1.47% | 1.30% | 0.10% | -0.90% | -1.26% | 3.37% | 2.62% | 9.99% |
| 2022 | -2.57% | -1.20% | -0.79% | -3.42% | -0.32% | -6.53% | 5.24% | -2.35% | -3.61% | 2.64% | 1.58% | -0.49% | -11.68% |
| 2021 | 0.20% | 0.37% | 0.34% | 0.95% | 0.33% | 0.95% | 0.13% | 0.39% | -0.03% | -0.21% | -1.00% | -5.09% | -2.78% |
| 2020 | -0.09% | -1.37% | -9.84% | 4.00% | 4.15% | 0.88% | 4.38% | 0.94% | -1.07% | 0.35% | 3.46% | 1.68% | 6.83% |
| 2019 | 4.28% | 1.70% | 0.78% | 1.37% | -1.19% | 2.07% | 0.60% | 0.32% | 0.52% | 0.27% | 0.61% | 1.69% | 13.73% |
| 2018 | 0.42% | -0.90% | -0.59% | 0.52% | -0.26% | 0.09% | 1.22% | 0.76% | 0.39% | -1.38% | -0.78% | -2.03% | -2.56% |
| 2017 | 0.94% | 1.22% | -0.22% | 1.12% | 0.88% | 0.27% | 1.26% | -0.09% | 0.52% | 0.34% | -0.36% | -6.13% | -0.48% |
| 2016 | 1.88% | 0.21% | 0.53% | 1.97% | 1.60% | 0.18% | 0.06% | -0.46% | 1.43% | 7.61% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
With an overall rank of 89, MZHSX is among the top 11% 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 U.S. High Yield Credit Fund (MZHSX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
Dividends
Dividend History
Muzinich U.S. High Yield Credit Fund provided a 6.90% dividend yield over the last twelve months, with an annual payout of $0.55 per share. The fund has been increasing its distributions for 2 consecutive years.
| Period | TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.55 | $0.56 | $0.51 | $0.44 | $0.53 | $0.50 | $0.51 | $0.50 | $0.58 | $0.30 |
Dividend yield | 6.90% | 7.00% | 6.46% | 5.69% | 5.77% | 5.04% | 5.18% | 5.48% | 5.86% | 2.90% |
Monthly Dividends
The table displays the monthly dividend distributions for Muzinich U.S. High Yield Credit 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 | $0.05 | $0.00 | $0.05 | ||||||||||
| 2024 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.04 | $0.05 | $0.04 | $0.04 | $0.05 | $0.04 | $0.04 | $0.56 |
| 2023 | $0.04 | $0.04 | $0.05 | $0.04 | $0.05 | $0.04 | $0.04 | $0.05 | $0.04 | $0.04 | $0.04 | $0.04 | $0.51 |
| 2022 | $0.03 | $0.03 | $0.04 | $0.03 | $0.03 | $0.04 | $0.03 | $0.04 | $0.04 | $0.04 | $0.04 | $0.03 | $0.44 |
| 2021 | $0.04 | $0.05 | $0.07 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.53 |
| 2020 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.05 | $0.04 | $0.05 | $0.04 | $0.04 | $0.05 | $0.50 |
| 2019 | $0.04 | $0.04 | $0.05 | $0.04 | $0.05 | $0.04 | $0.05 | $0.04 | $0.04 | $0.05 | $0.04 | $0.04 | $0.51 |
| 2018 | $0.04 | $0.03 | $0.04 | $0.04 | $0.05 | $0.04 | $0.05 | $0.04 | $0.04 | $0.05 | $0.04 | $0.05 | $0.50 |
| 2017 | $0.04 | $0.04 | $0.05 | $0.04 | $0.05 | $0.05 | $0.04 | $0.05 | $0.10 | $0.04 | $0.04 | $0.05 | $0.58 |
| 2016 | $0.02 | $0.03 | $0.04 | $0.04 | $0.05 | $0.04 | $0.02 | $0.04 | $0.03 | $0.30 |
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 U.S. High Yield Credit 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 U.S. High Yield Credit Fund was 20.94%, occurring on Sep 29, 2022. The portfolio has not yet recovered.
The current Muzinich U.S. High Yield Credit Fund drawdown is 1.12%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -20.94% | Dec 31, 2021 | 188 | Sep 29, 2022 | — | — | — |
| -19.4% | Feb 21, 2020 | 22 | Mar 23, 2020 | 90 | Jul 30, 2020 | 112 |
| -9.66% | Oct 25, 2017 | 293 | Dec 24, 2018 | 169 | Aug 27, 2019 | 462 |
| -2.51% | Oct 26, 2016 | 14 | Nov 14, 2016 | 19 | Dec 12, 2016 | 33 |
| -2.07% | Mar 2, 2017 | 9 | Mar 14, 2017 | 28 | Apr 24, 2017 | 37 |
Volatility
Volatility Chart
The current Muzinich U.S. High Yield Credit Fund volatility is 0.69%, 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.