CZAMX vs. TALTX
Compare and contrast key facts about Multi-Manager Alternative Strategies Fund (CZAMX) and Morgan Stanley Pathway Funds Alternative Strategies Fund (TALTX).
CZAMX is managed by Columbia. It was launched on Jan 2, 2017. TALTX is managed by Morgan Stanley. It was launched on Feb 14, 2018.
Performance
CZAMX vs. TALTX - Performance Comparison
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CZAMX vs. TALTX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
CZAMX Multi-Manager Alternative Strategies Fund | 1.63% | 4.59% | 1.99% | 3.07% | 2.85% | 0.80% | 5.78% | 6.09% | -2.84% |
TALTX Morgan Stanley Pathway Funds Alternative Strategies Fund | 0.75% | 5.51% | 3.53% | 8.27% | -2.29% | 5.33% | 5.20% | 6.53% | 1.69% |
Returns By Period
In the year-to-date period, CZAMX achieves a 1.63% return, which is significantly higher than TALTX's 0.75% return.
CZAMX
- 1D
- 0.11%
- 1M
- -1.68%
- YTD
- 1.63%
- 6M
- 3.67%
- 1Y
- 6.41%
- 3Y*
- 3.81%
- 5Y*
- 2.73%
- 10Y*
- —
TALTX
- 1D
- 0.00%
- 1M
- -2.09%
- YTD
- 0.75%
- 6M
- 2.15%
- 1Y
- 5.40%
- 3Y*
- 5.84%
- 5Y*
- 3.73%
- 10Y*
- —
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CZAMX vs. TALTX - Expense Ratio Comparison
CZAMX has a 1.27% expense ratio, which is higher than TALTX's 0.59% expense ratio.
Return for Risk
CZAMX vs. TALTX — Risk / Return Rank
CZAMX
TALTX
CZAMX vs. TALTX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Multi-Manager Alternative Strategies Fund (CZAMX) and Morgan Stanley Pathway Funds Alternative Strategies Fund (TALTX). 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 | TALTX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.66 | 1.16 | +0.50 |
Sortino ratioReturn per unit of downside risk | 2.27 | 1.56 | +0.71 |
Omega ratioGain probability vs. loss probability | 1.31 | 1.27 | +0.03 |
Calmar ratioReturn relative to maximum drawdown | 2.00 | 0.69 | +1.31 |
Martin ratioReturn relative to average drawdown | 5.67 | 2.86 | +2.81 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| CZAMX | TALTX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.66 | 1.16 | +0.50 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.81 | 0.82 | -0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.77 | 0.91 | -0.13 |
Correlation
The correlation between CZAMX and TALTX is 0.54, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
CZAMX vs. TALTX - Dividend Comparison
CZAMX's dividend yield for the trailing twelve months is around 3.15%, less than TALTX's 4.30% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
CZAMX Multi-Manager Alternative Strategies Fund | 3.15% | 3.20% | 2.11% | 2.60% | 7.74% | 1.44% | 0.89% | 2.11% | 1.48% |
TALTX Morgan Stanley Pathway Funds Alternative Strategies Fund | 4.30% | 4.34% | 2.45% | 3.11% | 6.63% | 0.69% | 0.85% | 3.12% | 0.74% |
Drawdowns
CZAMX vs. TALTX - Drawdown Comparison
The maximum CZAMX drawdown since its inception was -7.16%, smaller than the maximum TALTX drawdown of -14.24%. Use the drawdown chart below to compare losses from any high point for CZAMX and TALTX.
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Drawdown Indicators
| CZAMX | TALTX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -7.16% | -14.24% | +7.08% |
Max Drawdown (1Y)Largest decline over 1 year | -2.98% | -5.15% | +2.17% |
Max Drawdown (5Y)Largest decline over 5 years | -5.52% | -6.38% | +0.86% |
Current DrawdownCurrent decline from peak | -1.68% | -2.09% | +0.41% |
Average DrawdownAverage peak-to-trough decline | -1.57% | -1.37% | -0.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.09% | 1.54% | -0.45% |
Volatility
CZAMX vs. TALTX - Volatility Comparison
Multi-Manager Alternative Strategies Fund (CZAMX) and Morgan Stanley Pathway Funds Alternative Strategies Fund (TALTX) have volatilities of 1.00% and 0.96%, 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.
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Volatility by Period
| CZAMX | TALTX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.00% | 0.96% | +0.04% |
Volatility (6M)Calculated over the trailing 6-month period | 2.78% | 2.56% | +0.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.75% | 5.36% | -1.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.37% | 4.68% | -1.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.37% | 4.73% | -1.36% |