CTRZX vs. AVEM

Last updated Jun 25, 2026

CTRZX (Multi-Manager Total Return Bond Strategies Fund) and AVEM (Avantis Emerging Markets Equity ETF) are both funds - CTRZX is a Intermediate Core-Plus Bond fund managed by BlackRock, while AVEM is a Emerging Markets Equities fund actively managed by Avantis. Over the past 5 years, CTRZX returned -0.01%/yr vs 9.38%/yr for AVEM. At a 0.09 correlation, their price movements are largely independent. CTRZX charges 0.49%/yr vs 0.33%/yr for AVEM.

Performance

CTRZX vs. AVEM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Multi-Manager Total Return Bond Strategies Fund (CTRZX) and Avantis Emerging Markets Equity ETF (AVEM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CTRZX achieves a 0.18% return, which is significantly lower than AVEM's 23.85% return.

CTRZX

• 1D: 0.12%
• 1M: 0.70%
• YTD: 0.18%
• 6M: 0.47%
• 1Y: 4.22%
• 3Y*: 4.35%
• 5Y*: -0.01%
• 10Y*: —

AVEM

• 1D: 0.08%
• 1M: 2.44%
• YTD: 23.85%
• 6M: 24.09%
• 1Y: 42.57%
• 3Y*: 24.74%
• 5Y*: 9.38%
• 10Y*: —

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

CTRZX vs. AVEM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
CTRZX Multi-Manager Total Return Bond Strategies Fund	0.18%	7.48%	2.03%	5.78%	-14.46%	-0.95%	8.47%	1.22%
AVEM Avantis Emerging Markets Equity ETF	23.85%	34.48%	7.49%	15.30%	-18.15%	5.16%	14.39%	10.40%

Correlation

The correlation between CTRZX and AVEM is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.29
Correlation (3Y) Calculated over the trailing 3-year period	0.20
Correlation (5Y) Calculated over the trailing 5-year period	0.15
Correlation (All Time) Calculated using the full available price history since Sep 19, 2019	0.09

Over the past year, CTRZX and AVEM have become more correlated (0.29) than their long-term average of 0.09, meaning their price movements have been converging.

Return for Risk

CTRZX vs. AVEM — Risk / Return Rank

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

CTRZX

CTRZX Risk / Return Rank: 20
CTRZX Sharpe Ratio Rank: 21
CTRZX Sortino Ratio Rank: 21
CTRZX Omega Ratio Rank: 19
CTRZX Calmar Ratio Rank: 22
CTRZX Martin Ratio Rank: 19

AVEM

AVEM Risk / Return Rank: 68
AVEM Sharpe Ratio Rank: 66
AVEM Sortino Ratio Rank: 59
AVEM Omega Ratio Rank: 70
AVEM Calmar Ratio Rank: 71
AVEM Martin Ratio Rank: 73

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.

CTRZX vs. AVEM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Multi-Manager Total Return Bond Strategies Fund (CTRZX) and Avantis Emerging Markets Equity ETF (AVEM). 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.

	CTRZX	AVEM	Difference
Sharpe ratio: Return per unit of total volatility	1.10	1.94	-0.84
Sortino ratio: Return per unit of downside risk	1.66	2.50	-0.84
Omega ratio: Gain probability vs. loss probability	1.19	1.37	-0.18
Calmar ratio: Return relative to maximum drawdown	1.48	3.26	-1.78
Martin ratio: Return relative to average drawdown	4.13	12.27	-8.14

CTRZX vs. AVEM - Sharpe Ratio Comparison

The current CTRZX Sharpe Ratio is 1.10, which is lower than the AVEM Sharpe Ratio of 1.94. The chart below compares the historical Sharpe Ratios of CTRZX and AVEM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

CTRZX vs. AVEM - Drawdown Comparison

The maximum CTRZX drawdown since its inception was -19.33%, smaller than the maximum AVEM drawdown of -36.05%. Use the drawdown chart below to compare losses from any high point for CTRZX and AVEM.

Drawdown Indicators

	CTRZX	AVEM	Difference
Max Drawdown Largest peak-to-trough decline	-19.33%	-36.05%	+16.72%
Max Drawdown (1Y) Largest decline over 1 year	-3.03%	-13.13%	+10.10%
Max Drawdown (3Y) Largest decline over 3 years	-6.14%	-18.02%	+11.88%
Max Drawdown (5Y) Largest decline over 5 years	-19.33%	-33.88%	+14.55%
Current Drawdown Current decline from peak	-1.77%	-5.39%	+3.62%
Average Drawdown Average peak-to-trough decline	-5.03%	-10.04%	+5.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.08%	3.48%	-2.40%

Volatility

CTRZX vs. AVEM - Volatility Comparison

The current volatility for Multi-Manager Total Return Bond Strategies Fund (CTRZX) is 1.24%, while Avantis Emerging Markets Equity ETF (AVEM) has a volatility of 12.54%. This indicates that CTRZX experiences smaller price fluctuations and is considered to be less risky than AVEM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CTRZX	AVEM	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.24%	12.54%	-11.30%
Volatility (6M) Calculated over the trailing 6-month period	3.09%	20.05%	-16.96%
Volatility (1Y) Calculated over the trailing 1-year period	4.08%	22.22%	-18.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.01%	18.98%	-12.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.10%	20.91%	-15.81%

CTRZX vs. AVEM - Expense Ratio Comparison

CTRZX has a 0.49% expense ratio, which is higher than AVEM's 0.33% expense ratio.

Dividends

CTRZX vs. AVEM - Dividend Comparison

CTRZX's dividend yield for the trailing twelve months is around 4.41%, more than AVEM's 1.85% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
AVEM Avantis Emerging Markets Equity ETF	1.85%	2.45%	3.17%	3.06%	2.77%	2.61%	1.60%	0.35%	0.00%	0.00%
CTRZX Multi-Manager Total Return Bond Strategies Fund	4.41%	4.39%	4.61%	3.47%	2.70%	2.13%	4.69%	3.32%	2.89%	2.22%

Frequently Asked Questions

Can I hold both CTRZX and AVEM in my portfolio?

CTRZX and AVEM have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CTRZX or AVEM?

AVEM has higher volatility (12.54%) compared to CTRZX (1.24%). In terms of maximum drawdown, CTRZX dropped -19.33% vs AVEM's -36.05%.

Which has better risk-adjusted returns?

AVEM currently has the higher Sharpe Ratio (1.94 vs 1.10), 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.