TSI vs. MZLSX
TSI (TCW Strategic Income Fund Inc.) and MZLSX (Muzinich Low Duration Fund) are both Multisector Bonds funds. Over the past 5 years, TSI returned 2.17%/yr vs 3.73%/yr for MZLSX. At a 0.19 correlation, their price movements are largely independent.
Performance
TSI vs. MZLSX - Performance Comparison
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Returns By Period
In the year-to-date period, TSI achieves a -6.74% return, which is significantly lower than MZLSX's 1.54% return.
TSI
- 1D
- -0.45%
- 1M
- -0.49%
- YTD
- -6.74%
- 6M
- -4.77%
- 1Y
- -1.89%
- 3Y*
- 6.86%
- 5Y*
- 2.17%
- 10Y*
- 5.03%
MZLSX
- 1D
- 0.11%
- 1M
- 0.62%
- YTD
- 1.54%
- 6M
- 1.71%
- 1Y
- 4.79%
- 3Y*
- 6.44%
- 5Y*
- 3.73%
- 10Y*
- —
TSI vs. MZLSX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TSI TCW Strategic Income Fund Inc. | -6.74% | 9.72% | 13.45% | 7.13% | -14.33% | 8.08% | 3.77% | 17.97% | -3.83% | 16.42% |
MZLSX Muzinich Low Duration Fund | 1.54% | 6.38% | 6.30% | 7.63% | -3.41% | 2.50% | 2.64% | 7.86% | 0.80% | 4.26% |
Correlation
The correlation between TSI and MZLSX is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.24 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.23 |
Correlation (All Time) Calculated using the full available price history since Jul 5, 2016 | 0.19 |
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Return for Risk
TSI vs. MZLSX — Risk / Return Rank
TSI
MZLSX
TSI vs. MZLSX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for TCW Strategic Income Fund Inc. (TSI) and Muzinich Low Duration Fund (MZLSX). 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.
| TSI | MZLSX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.39 | ||
| Sortino ratioReturn per unit of downside risk | -5.35 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.81 | -0.85 |
| Calmar ratioReturn relative to maximum drawdown | -0.23 | 3.27 | -3.50 |
| Martin ratioReturn relative to average drawdown | -0.52 | 14.79 | -15.31 |
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Drawdowns
TSI vs. MZLSX - Drawdown Comparison
The maximum TSI drawdown since its inception was -60.35%, which is greater than MZLSX's maximum drawdown of -12.66%. Use the drawdown chart below to compare losses from any high point for TSI and MZLSX.
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Drawdown Indicators
| TSI | MZLSX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.35% | -12.66% | -47.69% |
Max Drawdown (1Y)Largest decline over 1 year | -8.30% | -1.50% | -6.80% |
Max Drawdown (3Y)Largest decline over 3 years | -8.30% | -1.50% | -6.80% |
Max Drawdown (5Y)Largest decline over 5 years | -18.56% | -6.09% | -12.47% |
Max Drawdown (10Y)Largest decline over 10 years | -30.00% | — | — |
Current DrawdownCurrent decline from peak | -6.78% | 0.00% | -6.78% |
Average DrawdownAverage peak-to-trough decline | -7.69% | -0.85% | -6.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.64% | 0.33% | +3.31% |
Volatility
TSI vs. MZLSX - Volatility Comparison
TCW Strategic Income Fund Inc. (TSI) has a higher volatility of 1.48% compared to Muzinich Low Duration Fund (MZLSX) at 0.44%. This indicates that TSI's price experiences larger fluctuations and is considered to be riskier than MZLSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TSI | MZLSX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.48% | 0.44% | +1.04% |
Volatility (6M)Calculated over the trailing 6-month period | 7.29% | 1.36% | +5.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.38% | 1.56% | +6.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.89% | 1.63% | +9.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.03% | 2.13% | +11.90% |
Dividends
TSI vs. MZLSX - Dividend Comparison
TSI's dividend yield for the trailing twelve months is around 9.19%, more than MZLSX's 7.22% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MZLSX Muzinich Low Duration Fund | 7.22% | 7.03% | 4.77% | 4.88% | 3.85% | 6.36% | 2.08% | 2.24% | 8.62% | 1.86% | 0.79% | 0.00% |
TSI TCW Strategic Income Fund Inc. | 9.19% | 6.58% | 8.00% | 7.73% | 7.00% | 6.36% | 4.83% | 7.39% | 7.07% | 5.36% | 5.21% | 4.08% |
Frequently Asked Questions
TSI and MZLSX have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TSI has higher volatility (1.48%) compared to MZLSX (0.44%). In terms of maximum drawdown, TSI dropped -60.35% vs MZLSX's -12.66%.
MZLSX currently has the higher Sharpe Ratio (3.16 vs -0.23), 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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