MZCSX vs. CBRDX

Last updated Jun 24, 2026

MZCSX (Muzinich Credit Opportunities Fund) and CBRDX (CrossingBridge Responsible Credit Fund) are both Multisector Bonds funds. Over the past 3 years, MZCSX returned 5.72%/yr vs 5.96%/yr for CBRDX. At a 0.27 correlation, their price movements are largely independent. MZCSX charges 0.60%/yr vs 0.89%/yr for CBRDX.

Performance

MZCSX vs. CBRDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Muzinich Credit Opportunities Fund (MZCSX) and CrossingBridge Responsible Credit Fund (CBRDX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MZCSX achieves a 1.08% return, which is significantly higher than CBRDX's 0.27% return.

MZCSX

• 1D: -0.10%
• 1M: 0.73%
• YTD: 1.08%
• 6M: 1.29%
• 1Y: 4.96%
• 3Y*: 5.72%
• 5Y*: 2.14%
• 10Y*: 3.45%

CBRDX

• 1D: 0.11%
• 1M: 0.08%
• YTD: 0.27%
• 6M: 0.27%
• 1Y: 3.19%
• 3Y*: 5.96%
• 5Y*: —
• 10Y*: —

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

MZCSX vs. CBRDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
MZCSX Muzinich Credit Opportunities Fund	1.08%	6.74%	4.27%	7.48%	-8.41%	0.27%
CBRDX CrossingBridge Responsible Credit Fund	0.27%	5.01%	7.21%	8.00%	1.49%	1.14%

Correlation

The correlation between MZCSX and CBRDX is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.22
Correlation (3Y) Calculated over the trailing 3-year period	0.24
Correlation (All Time) Calculated using the full available price history since Jun 30, 2021	0.27

Return for Risk

MZCSX vs. CBRDX — Risk / Return Rank

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

MZCSX

MZCSX Risk / Return Rank: 55
MZCSX Sharpe Ratio Rank: 58
MZCSX Sortino Ratio Rank: 70
MZCSX Omega Ratio Rank: 67
MZCSX Calmar Ratio Rank: 36
MZCSX Martin Ratio Rank: 46

CBRDX

CBRDX Risk / Return Rank: 58
CBRDX Sharpe Ratio Rank: 48
CBRDX Sortino Ratio Rank: 43
CBRDX Omega Ratio Rank: 80
CBRDX Calmar Ratio Rank: 76
CBRDX Martin Ratio Rank: 42

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.

MZCSX vs. CBRDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Muzinich Credit Opportunities Fund (MZCSX) and CrossingBridge Responsible Credit Fund (CBRDX). 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.

	MZCSX	CBRDX	Difference
Sharpe ratio: Return per unit of total volatility	2.06	1.88	+0.18
Sortino ratio: Return per unit of downside risk	3.18	2.54	+0.63
Omega ratio: Gain probability vs. loss probability	1.41	1.48	-0.06
Calmar ratio: Return relative to maximum drawdown	2.14	3.26	-1.13
Martin ratio: Return relative to average drawdown	9.08	8.47	+0.62

MZCSX vs. CBRDX - Sharpe Ratio Comparison

The current MZCSX Sharpe Ratio is 2.06, which is comparable to the CBRDX Sharpe Ratio of 1.88. The chart below compares the historical Sharpe Ratios of MZCSX and CBRDX, 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

MZCSX vs. CBRDX - Drawdown Comparison

The maximum MZCSX drawdown since its inception was -12.56%, which is greater than CBRDX's maximum drawdown of -2.46%. Use the drawdown chart below to compare losses from any high point for MZCSX and CBRDX.

Drawdown Indicators

	MZCSX	CBRDX	Difference
Max Drawdown Largest peak-to-trough decline	-12.56%	-2.46%	-10.10%
Max Drawdown (1Y) Largest decline over 1 year	-2.43%	-1.05%	-1.38%
Max Drawdown (3Y) Largest decline over 3 years	-3.26%	-2.46%	-0.80%
Max Drawdown (5Y) Largest decline over 5 years	-12.05%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-12.56%	—	—
Current Drawdown Current decline from peak	-0.21%	-0.94%	+0.73%
Average Drawdown Average peak-to-trough decline	-1.60%	-0.35%	-1.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.57%	0.40%	+0.17%

Volatility

MZCSX vs. CBRDX - Volatility Comparison

Muzinich Credit Opportunities Fund (MZCSX) and CrossingBridge Responsible Credit Fund (CBRDX) have volatilities of 0.66% and 0.69%, 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.

Volatility by Period

	MZCSX	CBRDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.66%	0.69%	-0.03%
Volatility (6M) Calculated over the trailing 6-month period	2.01%	1.35%	+0.66%
Volatility (1Y) Calculated over the trailing 1-year period	2.53%	1.82%	+0.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.42%	2.07%	+1.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.35%	2.07%	+1.28%

MZCSX vs. CBRDX - Expense Ratio Comparison

MZCSX has a 0.60% expense ratio, which is lower than CBRDX's 0.89% expense ratio.

Dividends

MZCSX vs. CBRDX - Dividend Comparison

MZCSX's dividend yield for the trailing twelve months is around 6.57%, which matches CBRDX's 6.63% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CBRDX CrossingBridge Responsible Credit Fund	6.63%	7.52%	8.57%	8.57%	6.67%	1.34%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
MZCSX Muzinich Credit Opportunities Fund	6.57%	5.96%	5.19%	4.10%	1.35%	8.02%	2.41%	6.52%	2.11%	2.80%	3.99%	2.56%

Frequently Asked Questions

Can I hold both MZCSX and CBRDX in my portfolio?

MZCSX and CBRDX have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MZCSX or CBRDX?

CBRDX has higher volatility (0.69%) compared to MZCSX (0.66%). In terms of maximum drawdown, MZCSX dropped -12.56% vs CBRDX's -2.46%.

Which has better risk-adjusted returns?

MZCSX currently has the higher Sharpe Ratio (2.06 vs 1.88), 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.