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Virtus Equity & Convertible Income Fund (NIE) Diversifiers

Mutual Fund · Currency in USD · Last updated Jun 3, 2026

The Fund seeks total return through capital appreciation, current income, and gains by investing at least 80% of its assets in a mix of equity securities and income-producing convertible securities, with equity ranging from 40-80% and convertibles from 20-60%. It typically writes call options on about 70% of its equity holdings to generate income from premiums, enhance distributions, and reduce portfolio risk.

Looking to diversify beyond NIE? The mutual funds below have the lowest correlation with NIE — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from NIE.

Best Diversifiers for NIE

2 mutual funds have low correlation with NIE (below 0.3), 0 of which are negatively correlated. The least correlated is The Merger Fund (MERFX) (Event Driven) with a 1Y correlation of 0.27, roughly unchanged from 0.32 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
MERFX
The Merger Fund0.270.250.32
97
Event DrivenNIE vs MERFX
SAMBX
Virtus Seix Floating Rate High Income Fund0.290.300.30
97
Bank LoanNIE vs SAMBX
TCBIX
The Covered Bridge Fund0.410.460.57
83
Derivative IncomeNIE vs TCBIX
ACV
Virtus Diversified Income & Convertible Fund0.660.580.63
65
Diversified PortfolioNIE vs ACV
PUTW
WisdomTree Equity Premium Income Fund0.680.700.69
58
Derivative Income, S&P 500NIE vs PUTW
See all 13 diversifiers for NIE

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Low-Correlation Stock Ideas

If you're looking for individual stocks that move independently from NIE, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to NIE and solid risk/return profiles. The least correlated is DNP Select Income Fund Inc. (DNP) (Financial Services) with a 1Y correlation of 0.27, roughly unchanged from 0.33 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankSector
DNP
DNP Select Income Fund Inc.0.270.270.33
83
Financial Services
BSTZ
BlackRock Science and Technology Trust II0.670.700.75
96
Financial Services
BST
BlackRock Science and Technology Trust0.750.710.77
90
Financial Services

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Diversification Analysis

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