CZMSX Performance — Multi-Manager Small Cap Equity Strategies Fund, Institutional Class
Data updated: 2026-07-29
CZMSX returned +13.37% year to date and +25.18% over one year to May 2026. Annualised returns are +13.30% over 3 years and +3.70% over 5 years. The fund trailed its US Small Blend category average: $100 invested three years ago grew to $145, against $160 for the category, and to $125 over one year, against $132. Volatility over the past three years was 18.98% a year. In the 12 months to May 2026 the fund lost a net $1.2B, and assets reached $1.29B.
CZMSX Growth of $100
What $100 invested in Multi-Manager Small Cap Equity Strategies Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the US Small Blend category average over the same months.
| Period | CZMSX | Category average |
|---|---|---|
| 1 year (Jun 2025 – May 2026) | $125 | $132 |
| 3 years (Jun 2023 – May 2026) | $145 | $160 |
| 5 years (Jun 2021 – May 2026) | $120 | $135 |
| Since data start (Sep 2019 – May 2026) | $185 | $206 |
CZMSX Trailing Returns
Total returns to May 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +13.37% |
| 1 year | +25.18% |
| 3 years (annualised) | +13.30% |
| 5 years (annualised) | +3.70% |
CZMSX Annual Returns
Calendar-year total returns of Multi-Manager Small Cap Equity Strategies Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–May) | +13.37% |
| 2025 | +1.53% |
| 2024 | +8.56% |
| 2023 | +15.63% |
| 2022 | −19.96% |
| 2021 | +19.82% |
| 2020 | +20.49% |
| 2019 (Sep–Dec) | +10.55% |
CZMSX Monthly Returns
Monthly total returns as reported on SEC Form N-PORT.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +4.7% | +1.2% | −5.2% | +9.9% | +2.7% | — | — | — | — | — | — | — |
| 2025 | +3.0% | −5.9% | −7.5% | −2.6% | +5.3% | +3.6% | +0.4% | +5.7% | −0.8% | +0.9% | +1.1% | −0.6% |
| 2024 | −3.2% | +5.1% | +3.4% | −7.0% | +3.5% | −0.9% | +8.7% | −1.0% | 0.0% | −2.1% | +11.1% | −7.5% |
| 2023 | +9.7% | −1.3% | −4.8% | −1.8% | −1.9% | +8.6% | +5.3% | −4.2% | −5.6% | −6.7% | +8.5% | +11.3% |
| 2022 | −8.4% | +0.6% | −0.1% | −9.2% | +0.7% | −7.8% | +9.1% | −2.9% | −9.4% | +10.2% | +3.5% | −5.8% |
| 2021 | +2.3% | +7.7% | +1.6% | +3.6% | −0.4% | +0.5% | −1.5% | +2.0% | −1.8% | +5.3% | −3.7% | +3.1% |
| 2020 | −2.8% | −8.6% | −21.8% | +14.4% | +7.1% | +3.0% | +3.8% | +5.1% | −3.5% | +3.3% | +16.7% | +8.3% |
| 2019 | — | — | — | — | — | — | — | — | +2.2% | +1.4% | +4.2% | +2.3% |
CZMSX Risk
Risk measures from monthly returns over Jun 2023 – May 2026.
- 3-year volatility (annualised): 18.98%
- 3-year Sharpe ratio: 0.46 (vs 4.5% risk-free rate)
- Best month: +11.27% (Dec 2023)
- Worst month: −7.50% (Dec 2024)
CZMSX Fund Flows
Monthly money in and out of Multi-Manager Small Cap Equity Strategies Fund, from SEC Form N-PORT.
- 12-month net flow: −$1.2B
- 12-month gross sales (incl. reinvestments): $319.5M
- Sales ÷ redemptions: 0.21×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| May 2026 | $12.9M | $22.0M | −$9.1M |
| Apr 2026 | $11.2M | $19.6M | −$8.5M |
| Mar 2026 | $10.4M | $19.6M | −$9.3M |
| Feb 2026 | $12.3M | $362.2M | −$349.9M |
| Jan 2026 | $11.2M | $20.5M | −$9.3M |
| Dec 2025 | $135.9M | $21.1M | $114.8M |
| Nov 2025 | $36.8M | $28.6M | $8.2M |
| Oct 2025 | $14.0M | $22.9M | −$8.8M |
| Sep 2025 | $13.8M | $20.9M | −$7.1M |
| Aug 2025 | $16.4M | $919.3M | −$902.9M |
| Jul 2025 | $23.1M | $28.0M | −$4.9M |
| Jun 2025 | $21.6M | $26.3M | −$4.8M |
CZMSX Assets Under Management
Net assets of Multi-Manager Small Cap Equity Strategies Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-05-31 | $1.29B |
| 2026-02-28 | $1.23B |
| 2025-11-30 | $1.51B |
| 2025-08-31 | $1.50B |
| 2025-05-31 | $2.22B |
| 2025-02-28 | $2.19B |
| 2024-11-30 | $2.05B |
| 2024-08-31 | $1.65B |
| 2024-05-31 | $1.54B |
| 2024-02-29 | $1.52B |
| 2023-11-30 | $1.39B |
| 2023-08-31 | $1.39B |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.