MZLIX Performance — Muzinich Low Duration Fund, Institutional Class
Data updated: 2026-08-27
MZLIX returned −3.59% over one year to Nov 2022. The annualised 3-year return is +0.69%. The fund beat its Global Short-Term Corporate Bond category average: $100 invested three years ago grew to $102, against $102 for the category, and to $96 over one year, against $92. Volatility over the past three years was 7.14% a year. In the 12 months to Jun 2026 the fund lost a net $39.9M, and assets reached $1.16B.
MZLIX Growth of $100
What $100 invested in Muzinich Low Duration Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Global Short-Term Corporate Bond category average over the same months.
| Period | MZLIX | Category average |
|---|---|---|
| 1 year (Dec 2021 – Nov 2022) | $96 | $92 |
| 3 years (Dec 2019 – Nov 2022) | $102 | $102 |
| Since data start (Jul 2019 – Nov 2022) | $104 | $104 |
MZLIX Trailing Returns
Total returns to Nov 2022, from SEC N-PORT.
| Period | Total return |
|---|---|
| 1 year | −3.59% |
| 3 years (annualised) | +0.69% |
MZLIX Annual Returns
Calendar-year total returns of Muzinich Low Duration Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2022 (Jan–Nov) | −3.91% |
| 2021 | +2.66% |
| 2020 | +1.31% |
| 2019 (Jul–Dec) | +3.99% |
MZLIX 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2022 | −0.6% | −1.2% | −0.8% | −0.7% | −0.2% | −2.1% | +1.4% | −0.1% | −1.5% | +0.4% | +1.5% | — |
| 2021 | +0.4% | +0.3% | +0.4% | +0.2% | +0.3% | +0.4% | +0.2% | +0.4% | −0.1% | −0.2% | −0.1% | +0.3% |
| 2020 | −0.6% | −0.4% | −9.9% | +4.2% | +1.7% | +1.7% | +1.3% | +1.0% | −0.1% | +0.4% | +2.0% | +0.6% |
| 2019 | — | — | — | — | — | — | +0.6% | +0.5% | +0.1% | +0.2% | +0.4% | +2.1% |
MZLIX Risk
Risk measures from monthly returns over Dec 2019 – Nov 2022.
- 3-year volatility (annualised): 7.14%
- 3-year Sharpe ratio: -0.53 (vs 4.5% risk-free rate)
- Best month: +4.25% (Apr 2020)
- Worst month: −9.86% (Mar 2020)
MZLIX Fund Flows
Monthly money in and out of Muzinich Low Duration Fund, from SEC Form N-PORT.
- 12-month net flow: −$39.9M
- 12-month gross sales (incl. reinvestments): $642.0M
- Sales ÷ redemptions: 0.94×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Jun 2026 | $36.4M | $25.5M | $10.9M |
| May 2026 | $37.0M | $20.8M | $16.3M |
| Apr 2026 | $35.4M | $27.5M | $7.9M |
| Mar 2026 | $125.7M | $132.2M | −$6.5M |
| Feb 2026 | $51.4M | $16.5M | $34.9M |
| Jan 2026 | $51.5M | $21.7M | $29.7M |
| Dec 2025 | $45.4M | $15.7M | $29.6M |
| Nov 2025 | $40.4M | $13.8M | $26.7M |
| Oct 2025 | $56.4M | $259.1M | −$202.7M |
| Sep 2025 | $66.3M | $114.2M | −$47.9M |
| Aug 2025 | $53.1M | $17.5M | $35.6M |
| Jul 2025 | $43.0M | $17.4M | $25.6M |
MZLIX Assets Under Management
Net assets of Muzinich Low Duration Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-06-30 | $1.16B |
| 2026-03-31 | $1.10B |
| 2025-12-31 | $1.05B |
| 2025-09-30 | $1.25B |
| 2025-06-30 | $1.22B |
| 2025-03-31 | $1.24B |
| 2024-12-31 | $1.18B |
| 2024-09-30 | $1.14B |
| 2024-06-30 | $1.08B |
| 2024-03-31 | $985.65M |
| 2023-12-31 | $982.34M |
| 2023-09-30 | $1.01B |
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.