MCIFX vs. CNSDX
Compare and contrast key facts about Miller Convertible Bond Fund (MCIFX) and Invesco Convertible Securities Fund (CNSDX).
MCIFX is managed by Miller Investment. It was launched on Dec 26, 2007. CNSDX is managed by Invesco. It was launched on Jul 27, 1997.
Performance
MCIFX vs. CNSDX - Performance Comparison
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MCIFX vs. CNSDX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MCIFX Miller Convertible Bond Fund | -0.04% | 6.35% | 5.75% | 6.06% | -10.55% | 4.40% | 19.61% | 13.28% | -5.64% | 7.30% |
CNSDX Invesco Convertible Securities Fund | 2.40% | 16.24% | 9.95% | 8.18% | -15.51% | 4.69% | 44.68% | 21.25% | -1.60% | 10.68% |
Returns By Period
In the year-to-date period, MCIFX achieves a -0.04% return, which is significantly lower than CNSDX's 2.40% return. Over the past 10 years, MCIFX has underperformed CNSDX with an annualized return of 5.36%, while CNSDX has yielded a comparatively higher 9.97% annualized return.
MCIFX
- 1D
- 1.04%
- 1M
- -2.81%
- YTD
- -0.04%
- 6M
- 1.40%
- 1Y
- 7.03%
- 3Y*
- 5.72%
- 5Y*
- 1.73%
- 10Y*
- 5.36%
CNSDX
- 1D
- 2.89%
- 1M
- -3.94%
- YTD
- 2.40%
- 6M
- 1.85%
- 1Y
- 22.33%
- 3Y*
- 11.66%
- 5Y*
- 4.27%
- 10Y*
- 9.97%
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MCIFX vs. CNSDX - Expense Ratio Comparison
MCIFX has a 0.97% expense ratio, which is higher than CNSDX's 0.68% expense ratio.
Return for Risk
MCIFX vs. CNSDX — Risk / Return Rank
MCIFX
CNSDX
MCIFX vs. CNSDX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Miller Convertible Bond Fund (MCIFX) and Invesco Convertible Securities Fund (CNSDX). 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.
| MCIFX | CNSDX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.27 | 1.42 | -0.15 |
Sortino ratioReturn per unit of downside risk | 1.82 | 1.96 | -0.15 |
Omega ratioGain probability vs. loss probability | 1.24 | 1.26 | -0.02 |
Calmar ratioReturn relative to maximum drawdown | 1.50 | 2.59 | -1.09 |
Martin ratioReturn relative to average drawdown | 5.52 | 8.79 | -3.27 |
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
| MCIFX | CNSDX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.27 | 1.42 | -0.15 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.28 | 0.36 | -0.08 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.77 | 0.79 | -0.02 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.72 | 0.67 | +0.05 |
Correlation
The correlation between MCIFX and CNSDX is 0.84, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
MCIFX vs. CNSDX - Dividend Comparison
MCIFX's dividend yield for the trailing twelve months is around 4.87%, less than CNSDX's 11.50% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MCIFX Miller Convertible Bond Fund | 4.87% | 4.10% | 4.12% | 3.55% | 3.99% | 7.69% | 3.43% | 2.96% | 5.31% | 5.59% | 2.45% | 2.46% |
CNSDX Invesco Convertible Securities Fund | 11.50% | 11.77% | 3.46% | 1.46% | 3.97% | 28.36% | 10.96% | 5.21% | 12.65% | 4.57% | 3.74% | 2.74% |
Drawdowns
MCIFX vs. CNSDX - Drawdown Comparison
The maximum MCIFX drawdown since its inception was -29.19%, smaller than the maximum CNSDX drawdown of -39.33%. Use the drawdown chart below to compare losses from any high point for MCIFX and CNSDX.
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Drawdown Indicators
| MCIFX | CNSDX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.19% | -39.33% | +10.14% |
Max Drawdown (1Y)Largest decline over 1 year | -4.53% | -8.09% | +3.56% |
Max Drawdown (5Y)Largest decline over 5 years | -14.75% | -22.73% | +7.98% |
Max Drawdown (10Y)Largest decline over 10 years | -17.36% | -24.19% | +6.83% |
Current DrawdownCurrent decline from peak | -3.53% | -5.44% | +1.91% |
Average DrawdownAverage peak-to-trough decline | -3.91% | -6.94% | +3.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.23% | 2.38% | -1.15% |
Volatility
MCIFX vs. CNSDX - Volatility Comparison
The current volatility for Miller Convertible Bond Fund (MCIFX) is 1.97%, while Invesco Convertible Securities Fund (CNSDX) has a volatility of 6.96%. This indicates that MCIFX experiences smaller price fluctuations and is considered to be less risky than CNSDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MCIFX | CNSDX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.97% | 6.96% | -4.99% |
Volatility (6M)Calculated over the trailing 6-month period | 3.70% | 12.93% | -9.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.54% | 16.04% | -10.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.16% | 12.03% | -5.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.96% | 12.63% | -5.67% |