ASIEX vs. MZLSX
ASIEX (American Century Strategic Income Fund) and MZLSX (Muzinich Low Duration Fund) are both Multisector Bonds funds. Over the past 10 years, ASIEX returned 3.34%/yr vs 3.69%/yr for MZLSX. Their 0.53 correlation means they have sometimes moved together and sometimes differently. ASIEX charges 0.73%/yr vs 0.50%/yr for MZLSX.
Performance
ASIEX vs. MZLSX - Performance Comparison
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Returns By Period
In the year-to-date period, ASIEX achieves a 0.13% return, which is significantly lower than MZLSX's 1.73% return. Over the past 10 years, ASIEX has underperformed MZLSX with an annualized return of 3.34%, while MZLSX has yielded a comparatively higher 3.69% annualized return.
ASIEX
- 1D
- 0.23%
- 1M
- -0.90%
- 6M
- -0.19%
- YTD
- 0.13%
- 1Y
- 2.96%
- 3Y*
- 6.03%
- 5Y*
- 1.59%
- 10Y*
- 3.34%
- ALL TIME*
- 3.43%
MZLSX
- 1D
- 0.21%
- 1M
- 0.00%
- 6M
- 1.31%
- YTD
- 1.73%
- 1Y
- 3.96%
- 3Y*
- 6.14%
- 5Y*
- 3.69%
- 10Y*
- 3.69%
- ALL TIME*
- 3.70%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
ASIEX vs. MZLSX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ASIEX American Century Strategic Income Fund | 0.13% | 8.01% | 4.91% | 7.22% | -11.12% | 2.33% | 9.17% | 9.77% | -1.62% | 6.01% |
MZLSX Muzinich Low Duration Fund | 1.73% | 6.38% | 6.30% | 7.63% | -3.41% | 2.50% | 2.64% | 7.86% | 0.80% | 4.26% |
Correlation
The correlation between ASIEX and MZLSX is 0.65, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.65 |
Correlation (3Y) Balances recent behavior with more history. | 0.60 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.59 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.53 |
Correlation (All Time) Calculated using the full available price history since Jul 5, 2016 | 0.53 |
The correlation between ASIEX and MZLSX shifts across timeframes, from 0.53 (all time) to 0.65 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
ASIEX vs. MZLSX — Risk / Return Rank
ASIEX
MZLSX
ASIEX vs. MZLSX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for American Century Strategic Income Fund (ASIEX) and Muzinich Low Duration Fund (MZLSX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
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.
| ASIEX | MZLSX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.59 | ||
| Sortino ratioReturn per unit of downside risk | -2.60 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.60 | -0.43 |
| Calmar ratioReturn relative to maximum drawdown | 1.01 | 2.71 | -1.70 |
| Martin ratioReturn relative to average drawdown | 3.41 | 12.11 | -8.70 |
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Drawdowns
ASIEX vs. MZLSX - Drawdown Comparison
The maximum ASIEX drawdown since its inception was -14.31%, which is greater than MZLSX's maximum drawdown of -12.66%. Use the drawdown chart below to compare losses from any high point for ASIEX and MZLSX.
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Drawdown Indicators
| ASIEX | MZLSX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.31% | -12.66% | -1.65% |
Max Drawdown (1Y)Largest decline over 1 year | -3.18% | -1.50% | -1.68% |
Max Drawdown (3Y)Largest decline over 3 years | -3.67% | -1.50% | -2.17% |
Max Drawdown (5Y)Largest decline over 5 years | -14.31% | -6.09% | -8.22% |
Max Drawdown (10Y)Largest decline over 10 years | -14.31% | -12.66% | -1.65% |
Current DrawdownCurrent decline from peak | -1.48% | -0.11% | -1.37% |
Average DrawdownAverage peak-to-trough decline | -2.52% | -0.84% | -1.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.94% | 0.34% | +0.60% |
Volatility
ASIEX vs. MZLSX - Volatility Comparison
American Century Strategic Income Fund (ASIEX) has a higher volatility of 0.74% compared to Muzinich Low Duration Fund (MZLSX) at 0.41%. This indicates that ASIEX's price experiences larger fluctuations and is considered to be riskier than MZLSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ASIEX | MZLSX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.74% | 0.41% | +0.33% |
Volatility (6M)Calculated over the trailing 6-month period | 2.77% | 1.39% | +1.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.32% | 1.60% | +1.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.35% | 1.63% | +2.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.97% | 2.13% | +1.84% |
ASIEX vs. MZLSX - Expense Ratio Comparison
ASIEX has a 0.73% expense ratio, which is higher than MZLSX's 0.50% expense ratio.
Dividends
ASIEX vs. MZLSX - Dividend Comparison
ASIEX's dividend yield for the trailing twelve months is around 4.91%, less than MZLSX's 7.13% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ASIEX American Century Strategic Income Fund | 4.91% | 5.53% | 5.80% | 5.15% | 2.88% | 5.39% | 3.58% | 3.07% | 3.95% | 3.16% | 3.53% | 4.23% |
MZLSX Muzinich Low Duration Fund | 7.13% | 7.03% | 4.77% | 4.88% | 3.85% | 6.36% | 2.08% | 2.24% | 8.62% | 1.86% | 0.79% | 0.00% |
Frequently Asked Questions
ASIEX and MZLSX have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ASIEX has higher volatility (0.74%) compared to MZLSX (0.41%). In terms of maximum drawdown, ASIEX dropped -14.31% vs MZLSX's -12.66%.
MZLSX currently has the higher Sharpe Ratio (2.56 vs 0.97), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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