# Commonwealth Australia/New Zealand Fund (CNZLX): Mutual Fund Facts & Distributions > Markdown mirror of https://www.dividenddata.com/funds/cnzlx for AI agents. Same live data as the HTML page, regenerated on the same refresh cycle. Not investment advice. - Issuer: — · Asset class: Equity - Strategy: Actively Managed · Inception: 1996-06-11 This fund typically dedicates a minimum of 80% of its investable capital to acquiring equity instruments and various forms of depositary receipts—such as American (ADRs), Global (GDRs), and European (EDRs)—issued by companies whose primary business operations or economic interests are linked to Australia and New Zealand. The portfolio also has the flexibility to invest in shares of other collective investment vehicles, including open-end funds, closed-end funds, and exchange-traded funds (ETFs). Additionally, the fund is authorized to utilize derivative transactions. ## Key Facts | Metric | Value | |---|---| | Price | $12.44 | | Expense Ratio | 2.89% | | Assets Under Management | $12.6M | | NAV | $12.44 | | Holdings Count | — | | Distribution Yield (TTM) | 0.52% | | Annual Distribution (TTM) | $0.07 /share | | Distribution Frequency | Annual | | 52-Week Range | $11.93 – $13.51 | | Beta | 0.82 | ## Latest Distribution - Amount: $0.0651 /share - Ex-date: 2025-12-15 - Pay date: 2025-12-15 ## Frequently Asked Questions ### What does CNZLX invest in? This fund typically dedicates a minimum of 80% of its investable capital to acquiring equity instruments and various forms of depositary receipts—such as American (ADRs), Global (GDRs), and European (EDRs)—issued by companies whose primary business operations or economic interests are linked to Australia and New Zealand. The portfolio also has the flexibility to invest in shares of other collective investment vehicles, including open-end funds, closed-end funds, and exchange-traded funds (ETFs). Additionally, the fund is authorized to utilize derivative transactions. ### What is the expense ratio of CNZLX? Commonwealth Australia/New Zealand Fund (CNZLX) charges an expense ratio of 2.89%. This is the annual fee deducted from fund assets to cover management and operations. ### How big is CNZLX? Commonwealth Australia/New Zealand Fund (CNZLX) manages $12.6M in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure. Funds below ~$50M are at higher risk of liquidation. ### Is CNZLX actively managed or an index fund? CNZLX is actively managed: the manager selects holdings rather than tracking an index. Active funds typically charge higher expense ratios than index funds (CNZLX's is 2.89%) in exchange for the discretion to over- or under-weight positions. ### When was CNZLX launched? Commonwealth Australia/New Zealand Fund (CNZLX) launched in June 1996 and is managed by the fund issuer. ### How has CNZLX performed? CNZLX's total return (price change plus reinvested distributions) is charted at the top of this page. Switch the price chart to Total Return and pick a 1-year, 3-year, 5-year, or 10-year window to read the compound annual growth rate (CAGR) over each horizon. ### Does CNZLX pay a dividend? Commonwealth Australia/New Zealand Fund (CNZLX) currently distributes little or no income. Trailing-twelve-month yield is 0.52%. Investors looking for income should consider income-focused alternatives. See the Peers tab. ### How often does CNZLX pay dividends? Commonwealth Australia/New Zealand Fund pays dividends Annual. Each ex-dividend date, record date, and payment date is listed in the dividend history table on this page. ### What is CNZLX's dividend yield? CNZLX's trailing-twelve-month yield is 0.52%, calculated from the sum of dividends over the past year divided by the current price. ### When is CNZLX's next ex-dividend date? The most recently announced ex-dividend date for CNZLX was 2025-12-15. The next ex-date typically follows Annual; once announced it appears at the top of the dividend history table on this page. ### How much will CNZLX's expense ratio cost me over 30 years? On a $10,000 investment compounding at 7% gross return, a 2.89% expense ratio quietly compounds against your balance every year. The Fee Compounding Forecast card above projects the dollar drag for any holding period and assumption you pick. The typical result for a 1.0% expense ratio on a 30-year hold is roughly 25% of the final balance lost to fees. ### How does CNZLX charge its expense ratio? The expense ratio is deducted in tiny daily slices from CNZLX's net asset value (NAV). You never see a bill. The price quoted on every exchange is already net of fees. There's no "fee day" to avoid; the cost is continuous and built into the trading price. ### Why does CNZLX cost more than a fund like VOO? CNZLX is actively managed (current expense ratio 2.89%). Active funds charge more than passive index trackers in exchange for the manager's discretion to over- or under-weight positions. The Cost Verdict card above tells you whether CNZLX's fee is competitive for the active-management cohort. ### Are there cheaper alternatives to CNZLX? The Lower-Fee Alternatives card above lists mutual funds following the same investment strategy as CNZLX (2.89%) but at a lower expense ratio. Each row shows the fee gap, the peer's AUM as a liquidity sanity-check, and a direct link to that fund's analysis page. Cheaper price doesn't automatically mean better. Verify the peer holds what you actually want. ## More on Dividend Data - Overview (HTML): https://www.dividenddata.com/funds/cnzlx - Distribution history: https://www.dividenddata.com/funds/cnzlx/dividend - Holdings & diversification: https://www.dividenddata.com/funds/cnzlx/diversification - Fees & cheaper alternatives: https://www.dividenddata.com/funds/cnzlx/expenses - Peer comparison: https://www.dividenddata.com/funds/cnzlx/peers Data sourced from primary filings and market data providers; see https://www.dividenddata.com/methodology.