CZMGX vs. VHCAX
CZMGX (Multi-Manager Growth Strategies Fund) and VHCAX (Vanguard Capital Opportunity Fund Admiral Shares) are both Large Cap Growth Equities funds. Over the past 5 years, CZMGX returned 11.01%/yr vs 12.77%/yr for VHCAX. Their correlation of 0.88 means they have usually moved in the same direction. CZMGX charges 0.74%/yr vs 0.32%/yr for VHCAX.
Performance
CZMGX vs. VHCAX - Performance Comparison
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Returns By Period
In the year-to-date period, CZMGX achieves a 4.71% return, which is significantly lower than VHCAX's 20.22% return.
CZMGX
- 1D
- 2.66%
- 1M
- -0.32%
- 6M
- 6.28%
- YTD
- 4.71%
- 1Y
- 12.99%
- 3Y*
- 19.69%
- 5Y*
- 11.01%
- 10Y*
- —
- ALL TIME*
- 15.11%
VHCAX
- 1D
- 3.32%
- 1M
- -3.88%
- 6M
- 14.40%
- YTD
- 20.22%
- 1Y
- 43.40%
- 3Y*
- 22.31%
- 5Y*
- 12.77%
- 10Y*
- 16.06%
- ALL TIME*
- 12.49%
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 |
CZMGX vs. VHCAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CZMGX Multi-Manager Growth Strategies Fund | 4.71% | 15.18% | 34.55% | 41.78% | -29.41% | 19.80% | 33.39% | 33.59% | -12.36% | 25.10% |
VHCAX Vanguard Capital Opportunity Fund Admiral Shares | 20.22% | 25.83% | 14.07% | 25.63% | -17.56% | 20.92% | 22.83% | 27.30% | -3.71% | 23.80% |
Correlation
The correlation between CZMGX and VHCAX is 0.81, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.81 |
Correlation (3Y) Balances recent behavior with more history. | 0.82 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.88 |
Correlation (All Time) Calculated using the full available price history since Feb 1, 2017 | 0.88 |
The correlation between CZMGX and VHCAX has been stable across timeframes, ranging from 0.81 to 0.88 - a consistent structural relationship.
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Return for Risk
CZMGX vs. VHCAX — Risk / Return Rank
CZMGX
VHCAX
CZMGX vs. VHCAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Multi-Manager Growth Strategies Fund (CZMGX) and Vanguard Capital Opportunity Fund Admiral Shares (VHCAX). 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.
| CZMGX | VHCAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.37 | ||
| Sortino ratioReturn per unit of downside risk | -1.80 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.35 | -0.23 |
| Calmar ratioReturn relative to maximum drawdown | 0.65 | 3.22 | -2.57 |
| Martin ratioReturn relative to average drawdown | 2.01 | 11.81 | -9.80 |
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Drawdowns
CZMGX vs. VHCAX - Drawdown Comparison
The maximum CZMGX drawdown since its inception was -35.23%, smaller than the maximum VHCAX drawdown of -54.27%. Use the drawdown chart below to compare losses from any high point for CZMGX and VHCAX.
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Drawdown Indicators
| CZMGX | VHCAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.23% | -54.27% | +19.04% |
Max Drawdown (1Y)Largest decline over 1 year | -16.55% | -12.42% | -4.13% |
Max Drawdown (3Y)Largest decline over 3 years | -22.71% | -23.92% | +1.21% |
Max Drawdown (5Y)Largest decline over 5 years | -35.23% | -27.55% | -7.68% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.78% | — |
Current DrawdownCurrent decline from peak | -5.05% | -7.92% | +2.87% |
Average DrawdownAverage peak-to-trough decline | -7.53% | -8.37% | +0.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.36% | 3.39% | +1.97% |
Volatility
CZMGX vs. VHCAX - Volatility Comparison
The current volatility for Multi-Manager Growth Strategies Fund (CZMGX) is 5.49%, while Vanguard Capital Opportunity Fund Admiral Shares (VHCAX) has a volatility of 6.80%. This indicates that CZMGX experiences smaller price fluctuations and is considered to be less risky than VHCAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CZMGX | VHCAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.49% | 6.80% | -1.31% |
Volatility (6M)Calculated over the trailing 6-month period | 13.79% | 17.10% | -3.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.44% | 20.13% | -2.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.79% | 20.35% | +1.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.83% | 20.49% | +1.34% |
CZMGX vs. VHCAX - Expense Ratio Comparison
CZMGX has a 0.74% expense ratio, which is higher than VHCAX's 0.32% expense ratio.
Dividends
CZMGX vs. VHCAX - Dividend Comparison
CZMGX has not paid dividends to shareholders, while VHCAX's dividend yield for the trailing twelve months is around 8.08%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CZMGX Multi-Manager Growth Strategies Fund | 0.00% | 11.02% | 10.86% | 5.59% | 10.39% | 15.19% | 5.04% | 5.53% | 6.87% | 4.66% | 0.00% | 0.00% |
VHCAX Vanguard Capital Opportunity Fund Admiral Shares | 8.08% | 9.71% | 8.24% | 2.40% | 9.35% | 10.55% | 9.19% | 6.48% | 12.23% | 3.87% | 5.74% | 5.39% |
Frequently Asked Questions
CZMGX and VHCAX have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VHCAX has higher volatility (6.80%) compared to CZMGX (5.49%). In terms of maximum drawdown, CZMGX dropped -35.23% vs VHCAX's -54.27%.
VHCAX currently has the higher Sharpe Ratio (1.99 vs 0.62), 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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