CAMSX vs. CZMSX

Last updated Jun 4, 2026

CAMSX (Cambiar Small Cap Fund) and CZMSX (Multi-Manager Small Cap Equity Strategies Fund) are both Small Cap Blend Equities funds. Over the past 5 years, CAMSX returned 6.74%/yr vs 3.72%/yr for CZMSX. Their correlation of 0.94 suggests significant overlap in exposure. CAMSX charges 1.10%/yr vs 0.99%/yr for CZMSX.

Performance

CAMSX vs. CZMSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Cambiar Small Cap Fund (CAMSX) and Multi-Manager Small Cap Equity Strategies Fund (CZMSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CAMSX achieves a 17.24% return, which is significantly higher than CZMSX's 13.97% return.

CAMSX

• 1D: 1.73%
• 1M: 4.45%
• YTD: 17.24%
• 6M: 16.37%
• 1Y: 30.82%
• 3Y*: 12.85%
• 5Y*: 6.74%
• 10Y*: 9.28%

CZMSX

• 1D: 0.52%
• 1M: 3.80%
• YTD: 13.97%
• 6M: 12.71%
• 1Y: 24.05%
• 3Y*: 11.81%
• 5Y*: 3.72%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

CAMSX vs. CZMSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CAMSX Cambiar Small Cap Fund	17.24%	8.91%	6.01%	12.12%	-8.70%	17.24%	9.52%	29.01%	-12.51%	3.69%
CZMSX Multi-Manager Small Cap Equity Strategies Fund	13.97%	1.55%	8.55%	15.65%	-20.05%	19.40%	20.47%	27.16%	-10.77%	14.84%

Correlation

The correlation between CAMSX and CZMSX is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.90
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (All Time) Calculated using the full available price history since Feb 2, 2017	0.94

The correlation between CAMSX and CZMSX has been stable across timeframes, ranging from 0.90 to 0.94 - a consistent structural relationship.

Return for Risk

CAMSX vs. CZMSX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CAMSX

CAMSX Risk / Return Rank: 48
CAMSX Sharpe Ratio Rank: 44
CAMSX Sortino Ratio Rank: 42
CAMSX Omega Ratio Rank: 40
CAMSX Calmar Ratio Rank: 65
CAMSX Martin Ratio Rank: 48

CZMSX

CZMSX Risk / Return Rank: 33
CZMSX Sharpe Ratio Rank: 27
CZMSX Sortino Ratio Rank: 28
CZMSX Omega Ratio Rank: 24
CZMSX Calmar Ratio Rank: 47
CZMSX Martin Ratio Rank: 40

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CAMSX vs. CZMSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Cambiar Small Cap Fund (CAMSX) and Multi-Manager Small Cap Equity Strategies Fund (CZMSX). 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.

	CAMSX	CZMSX	Difference
Sharpe ratio Return per unit of total volatility	1.95	1.48	+0.47
Sortino ratio Return per unit of downside risk	2.74	2.21	+0.53
Omega ratio Gain probability vs. loss probability	1.34	1.26	+0.08
Calmar ratio Return relative to maximum drawdown	3.11	2.63	+0.48
Martin ratio Return relative to average drawdown	9.95	8.65	+1.29
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CAMSX vs. CZMSX - Sharpe Ratio Comparison

The current CAMSX Sharpe Ratio is 1.95, which is higher than the CZMSX Sharpe Ratio of 1.48. The chart below compares the historical Sharpe Ratios of CAMSX and CZMSX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	CAMSX	CZMSX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.95	1.48	+0.47
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.36	0.16	+0.21
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.45	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.42	0.36	+0.06

Drawdowns

CAMSX vs. CZMSX - Drawdown Comparison

The maximum CAMSX drawdown since its inception was -58.43%, which is greater than CZMSX's maximum drawdown of -40.96%. Use the drawdown chart below to compare losses from any high point for CAMSX and CZMSX.

Drawdown Indicators

	CAMSX	CZMSX	Difference
Max Drawdown Largest peak-to-trough decline	-58.43%	-40.96%	-17.47%
Max Drawdown (1Y) Largest decline over 1 year	-10.44%	-10.00%	-0.44%
Max Drawdown (3Y) Largest decline over 3 years	-22.14%	-27.73%	+5.59%
Max Drawdown (5Y) Largest decline over 5 years	-22.14%	-37.16%	+15.02%
Max Drawdown (10Y) Largest decline over 10 years	-41.99%	—	—
Current Drawdown Current decline from peak	-0.00%	-1.55%	+1.55%
Average Drawdown Average peak-to-trough decline	-8.84%	-13.65%	+4.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.26%	3.03%	+0.23%

Volatility

CAMSX vs. CZMSX - Volatility Comparison

Cambiar Small Cap Fund (CAMSX) and Multi-Manager Small Cap Equity Strategies Fund (CZMSX) have volatilities of 4.54% and 4.67%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CAMSX	CZMSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.54%	4.67%	-0.13%
Volatility (6M) Calculated over the trailing 6-month period	11.85%	12.26%	-0.41%
Volatility (1Y) Calculated over the trailing 1-year period	16.64%	17.79%	-1.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.73%	23.88%	-5.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.76%	24.14%	-3.38%

CAMSX vs. CZMSX - Expense Ratio Comparison

CAMSX has a 1.10% expense ratio, which is higher than CZMSX's 0.99% expense ratio.

Dividends

CAMSX vs. CZMSX - Dividend Comparison

CAMSX's dividend yield for the trailing twelve months is around 9.04%, more than CZMSX's 7.76% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CAMSX Cambiar Small Cap Fund	9.04%	10.60%	3.52%	1.35%	0.48%	32.84%	0.34%	4.82%	24.24%	4.61%	0.00%	8.66%
CZMSX Multi-Manager Small Cap Equity Strategies Fund	7.76%	8.85%	3.05%	2.04%	10.31%	17.14%	0.31%	5.75%	7.94%	7.88%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CAMSX and CZMSX in my portfolio?

With a correlation of 0.90, CAMSX and CZMSX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, CAMSX or CZMSX?

CZMSX has higher volatility (4.67%) compared to CAMSX (4.54%). In terms of maximum drawdown, CAMSX dropped -58.43% vs CZMSX's -40.96%.

Which has better risk-adjusted returns?

CAMSX currently has the higher Sharpe Ratio (1.95 vs 1.48), 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.