CZAMX vs. SHGTX

Last updated Jun 4, 2026

CZAMX (Multi-Manager Alternative Strategies Fund) and SHGTX (Columbia Seligman Global Technology Fund) are both mutual funds - CZAMX is a Multistrategy fund managed by Columbia, while SHGTX is a Technology Equities fund managed by Columbia. Over the past 5 years, CZAMX returned 2.93%/yr vs 26.25%/yr for SHGTX. At a 0.34 correlation, their price movements are largely independent. CZAMX charges 1.27%/yr vs 1.29%/yr for SHGTX.

Performance

CZAMX vs. SHGTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Multi-Manager Alternative Strategies Fund (CZAMX) and Columbia Seligman Global Technology Fund (SHGTX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CZAMX achieves a 4.57% return, which is significantly lower than SHGTX's 58.37% return.

CZAMX

• 1D: 0.10%
• 1M: 0.73%
• YTD: 4.57%
• 6M: 5.42%
• 1Y: 11.08%
• 3Y*: 4.64%
• 5Y*: 2.93%
• 10Y*: —

SHGTX

• 1D: 3.58%
• 1M: 16.12%
• YTD: 58.37%
• 6M: 55.67%
• 1Y: 121.45%
• 3Y*: 46.55%
• 5Y*: 26.25%
• 10Y*: 27.87%

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

CZAMX vs. SHGTX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CZAMX Multi-Manager Alternative Strategies Fund	4.57%	4.59%	1.99%	3.07%	2.85%	0.80%	5.78%	6.09%	-3.16%	0.44%
SHGTX Columbia Seligman Global Technology Fund	58.37%	35.09%	26.04%	45.28%	-31.70%	38.60%	45.56%	54.92%	-8.70%	23.95%

Correlation

The correlation between CZAMX and SHGTX is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.48
Correlation (3Y) Calculated over the trailing 3-year period	0.43
Correlation (5Y) Calculated over the trailing 5-year period	0.37
Correlation (All Time) Calculated using the full available price history since Feb 2, 2017	0.34

The correlation between CZAMX and SHGTX shifts across timeframes, from 0.34 (all time) to 0.48 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

CZAMX vs. SHGTX — Risk / Return Rank

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

CZAMX

CZAMX Risk / Return Rank: 93
CZAMX Sharpe Ratio Rank: 94
CZAMX Sortino Ratio Rank: 94
CZAMX Omega Ratio Rank: 89
CZAMX Calmar Ratio Rank: 96
CZAMX Martin Ratio Rank: 93

SHGTX

SHGTX Risk / Return Rank: 97
SHGTX Sharpe Ratio Rank: 99
SHGTX Sortino Ratio Rank: 95
SHGTX Omega Ratio Rank: 92
SHGTX Calmar Ratio Rank: 99
SHGTX Martin Ratio Rank: 98

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.

CZAMX vs. SHGTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Multi-Manager Alternative Strategies Fund (CZAMX) and Columbia Seligman Global Technology Fund (SHGTX). 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.

	CZAMX	SHGTX	Difference
Sharpe ratio: Return per unit of total volatility	3.24	4.85	-1.61
Sortino ratio: Return per unit of downside risk	4.85	5.10	-0.25
Omega ratio: Gain probability vs. loss probability	1.63	1.69	-0.06
Calmar ratio: Return relative to maximum drawdown	6.08	10.16	-4.08
Martin ratio: Return relative to average drawdown	20.07	38.70	-18.64
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CZAMX vs. SHGTX - Sharpe Ratio Comparison

The current CZAMX Sharpe Ratio is 3.24, which is lower than the SHGTX Sharpe Ratio of 4.85. The chart below compares the historical Sharpe Ratios of CZAMX and SHGTX, 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

	CZAMX	SHGTX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.24	4.85	-1.61
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.88	0.96	-0.08
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	1.04	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.86	0.66	+0.20

Drawdowns

CZAMX vs. SHGTX - Drawdown Comparison

The maximum CZAMX drawdown since its inception was -7.16%, smaller than the maximum SHGTX drawdown of -77.47%. Use the drawdown chart below to compare losses from any high point for CZAMX and SHGTX.

Drawdown Indicators

	CZAMX	SHGTX	Difference
Max Drawdown Largest peak-to-trough decline	-7.16%	-77.47%	+70.31%
Max Drawdown (1Y) Largest decline over 1 year	-1.79%	-12.45%	+10.66%
Max Drawdown (3Y) Largest decline over 3 years	-5.52%	-28.90%	+23.38%
Max Drawdown (5Y) Largest decline over 5 years	-5.52%	-43.17%	+37.65%
Max Drawdown (10Y) Largest decline over 10 years	—	-43.17%	—
Current Drawdown Current decline from peak	-0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-1.54%	-24.94%	+23.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.54%	3.26%	-2.72%

Volatility

CZAMX vs. SHGTX - Volatility Comparison

The current volatility for Multi-Manager Alternative Strategies Fund (CZAMX) is 0.68%, while Columbia Seligman Global Technology Fund (SHGTX) has a volatility of 7.24%. This indicates that CZAMX experiences smaller price fluctuations and is considered to be less risky than SHGTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CZAMX	SHGTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.68%	7.24%	-6.56%
Volatility (6M) Calculated over the trailing 6-month period	2.40%	20.14%	-17.74%
Volatility (1Y) Calculated over the trailing 1-year period	3.36%	26.07%	-22.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.36%	27.43%	-24.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.35%	26.79%	-23.44%

CZAMX vs. SHGTX - Expense Ratio Comparison

CZAMX has a 1.27% expense ratio, which is lower than SHGTX's 1.29% expense ratio.

Dividends

CZAMX vs. SHGTX - Dividend Comparison

CZAMX's dividend yield for the trailing twelve months is around 3.06%, less than SHGTX's 5.33% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CZAMX Multi-Manager Alternative Strategies Fund	3.06%	3.20%	2.11%	2.60%	7.74%	1.44%	0.89%	2.11%	1.48%	0.00%	0.00%	0.00%
SHGTX Columbia Seligman Global Technology Fund	5.33%	8.45%	14.04%	6.22%	3.94%	11.77%	9.92%	10.26%	12.75%	7.25%	8.13%	8.09%

Frequently Asked Questions

Can I hold both CZAMX and SHGTX in my portfolio?

CZAMX and SHGTX have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CZAMX or SHGTX?

SHGTX has higher volatility (7.24%) compared to CZAMX (0.68%). In terms of maximum drawdown, CZAMX dropped -7.16% vs SHGTX's -77.47%.

Which has better risk-adjusted returns?

SHGTX currently has the higher Sharpe Ratio (4.85 vs 3.24), 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.