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MZHSX vs. RSIIX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

MZHSX vs. RSIIX

Last updated Jun 24, 2026

MZHSX (Muzinich U.S. High Yield Credit Fund) and RSIIX (RiverPark Strategic Income Fund) are both High Yield Bonds funds. Over the past 5 years, MZHSX returned 3.22%/yr vs 5.23%/yr for RSIIX. At a 0.42 correlation, their price movements are largely independent. MZHSX charges 0.58%/yr vs 1.18%/yr for RSIIX.

Performance

MZHSX vs. RSIIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Muzinich U.S. High Yield Credit Fund (MZHSX) and RiverPark Strategic Income Fund (RSIIX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, MZHSX achieves a 1.85% return, which is significantly higher than RSIIX's 1.69% return.

MZHSX

1D
0.00%
1M
0.75%
YTD
1.85%
6M
2.08%
1Y
6.61%
3Y*
7.95%
5Y*
3.22%
10Y*
—

RSIIX

1D
0.00%
1M
0.29%
YTD
1.69%
6M
1.57%
1Y
5.22%
3Y*
7.06%
5Y*
5.23%
10Y*
5.17%
*Multi-year figures are annualized to reflect compound growth (CAGR)

MZHSX vs. RSIIX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
MZHSX
Muzinich U.S. High Yield Credit Fund		1.85%8.27%7.65%9.99%-11.62%4.43%6.82%13.71%-2.58%6.00%
RSIIX
RiverPark Strategic Income Fund		1.69%6.04%8.44%9.59%-3.31%11.60%3.42%3.50%1.36%4.84%

Correlation

The correlation between MZHSX and RSIIX is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.49

Correlation (3Y)
Calculated over the trailing 3-year period

0.43

Correlation (5Y)
Calculated over the trailing 5-year period

0.45

Correlation (All Time)
Calculated using the full available price history since Jan 3, 2017

0.42

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Muzinich U.S. High Yield Credit Fund

RiverPark Strategic Income Fund

Often compared with MZHSX:
MZHSX vs. MZCSXMZHSX vs. MZLSXMZHSX vs. PRFRXMZHSX vs. FAGIXMZHSX vs. CRDOXMZHSX vs. PIAMXMZHSX vs. RPHIX
Often compared with RSIIX:
RSIIX vs. CBLDXRSIIX vs. PRWCXRSIIX vs. RCTIXRSIIX vs. QQQRSIIX vs. PMFYXRSIIX vs. RPHIXRSIIX vs. OSTIX

Return for Risk

MZHSX vs. RSIIX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
MZHSX
MZHSX Risk / Return Rank: 8787
Overall Rank
MZHSX Sharpe Ratio Rank: 8888
Sharpe Ratio Rank
MZHSX Sortino Ratio Rank: 9090
Sortino Ratio Rank
MZHSX Omega Ratio Rank: 8989
Omega Ratio Rank
MZHSX Calmar Ratio Rank: 7878
Calmar Ratio Rank
MZHSX Martin Ratio Rank: 9191
Martin Ratio Rank
RSIIX
RSIIX Risk / Return Rank: 6666
Overall Rank
RSIIX Sharpe Ratio Rank: 4343
Sharpe Ratio Rank
RSIIX Sortino Ratio Rank: 3737
Sortino Ratio Rank
RSIIX Omega Ratio Rank: 8686
Omega Ratio Rank
RSIIX Calmar Ratio Rank: 6969
Calmar Ratio Rank
RSIIX Martin Ratio Rank: 9595
Martin Ratio Rank
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.

MZHSX vs. RSIIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Muzinich U.S. High Yield Credit Fund (MZHSX) and RiverPark Strategic Income Fund (RSIIX). 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.

MZHSXRSIIXDifference
Sharpe ratioReturn per unit of total volatility
2.67
1.78

+0.89

Sortino ratioReturn per unit of downside risk
4.10
2.34

+1.77

Omega ratioGain probability vs. loss probability

1.60

1.55

+0.04

Calmar ratioReturn relative to maximum drawdown

3.35

3.07

+0.29

Martin ratioReturn relative to average drawdown

17.28

20.64

-3.36

MZHSX vs. RSIIX - Sharpe Ratio Comparison

The current MZHSX Sharpe Ratio is 2.67, which is higher than the RSIIX Sharpe Ratio of 1.78. The chart below compares the historical Sharpe Ratios of MZHSX and RSIIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

MZHSX vs. RSIIX - Drawdown Comparison

The maximum MZHSX drawdown since its inception was -19.40%, which is greater than RSIIX's maximum drawdown of -15.55%. Use the drawdown chart below to compare losses from any high point for MZHSX and RSIIX.

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Drawdown Indicators

MZHSXRSIIXDifference

Max Drawdown

Largest peak-to-trough decline

-19.40%

-15.55%

-3.85%

Max Drawdown (1Y)

Largest decline over 1 year

-2.02%

-1.79%

-0.23%

Max Drawdown (3Y)

Largest decline over 3 years

-3.83%

-1.79%

-2.04%

Max Drawdown (5Y)

Largest decline over 5 years

-15.10%

-5.61%

-9.49%

Max Drawdown (10Y)

Largest decline over 10 years

—

-15.55%

—

Current Drawdown

Current decline from peak

-0.25%

-0.24%

-0.01%

Average Drawdown

Average peak-to-trough decline

-2.47%

-1.16%

-1.31%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.39%

0.27%

+0.12%

Volatility

MZHSX vs. RSIIX - Volatility Comparison

Muzinich U.S. High Yield Credit Fund (MZHSX) has a higher volatility of 0.69% compared to RiverPark Strategic Income Fund (RSIIX) at 0.47%. This indicates that MZHSX's price experiences larger fluctuations and is considered to be riskier than RSIIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

MZHSXRSIIXDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.69%

0.47%

+0.22%

Volatility (6M)

Calculated over the trailing 6-month period

2.07%

2.84%

-0.77%

Volatility (1Y)

Calculated over the trailing 1-year period

2.54%

3.09%

-0.55%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

4.37%

2.52%

+1.85%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

4.88%

2.88%

+2.00%

MZHSX vs. RSIIX - Expense Ratio Comparison

MZHSX has a 0.58% expense ratio, which is lower than RSIIX's 1.18% expense ratio.

Dividends

MZHSX vs. RSIIX - Dividend Comparison

MZHSX's dividend yield for the trailing twelve months is around 6.30%, less than RSIIX's 7.42% yield.

PositionTTM20252024202320222021202020192018201720162015
MZHSX
Muzinich U.S. High Yield Credit Fund		6.30%6.53%7.00%6.45%5.77%13.18%5.03%5.16%5.45%12.68%0.00%0.00%
RSIIX
RiverPark Strategic Income Fund		7.42%7.75%7.67%7.61%6.58%5.12%5.77%4.84%4.59%4.98%5.10%6.57%

Frequently Asked Questions

MZHSX and RSIIX have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

MZHSX has higher volatility (0.69%) compared to RSIIX (0.47%). In terms of maximum drawdown, MZHSX dropped -19.40% vs RSIIX's -15.55%.

MZHSX currently has the higher Sharpe Ratio (2.67 vs 1.78), 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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