Virtus Newfleet High Yield Fund (PHCHX)

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Virtus Newfleet High Yield Fund (PHCHX) is up 1.8% since the beginning of the year. PHCHX is currently trading at $4 per share. Investors who bought $1,000 worth of PHCHX shares 5 years ago would now be looking at an investment worth $1,193.

Virtus Newfleet High Yield Fund (PHCHX) has returned 1.76% so far this year and 5.81% over the past 12 months. Over the last ten years, PHCHX has returned 5.08% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.

Based on dividend-adjusted daily data since Jul 28, 1980, PHCHX's average daily return is +0.02%, while the average monthly return is +0.35%. At this rate, an investment would double in approximately 16.5 years.

Historically, 64% of months were positive and 36% were negative. The best month was Nov 1981 with a return of +9.4%, while the worst month was Oct 2008 at -14.4%. The longest winning streak lasted 23 consecutive months, and the longest losing streak was 8 months.

On a daily basis, PHCHX closed higher 32% of trading days. The best single day was Nov 30, 1981 with a return of +9.4%, while the worst single day was Nov 30, 1983 at -4.8%.

Virtus Newfleet High Yield Fund has an annualized alpha of 3.27%, beta of 0.08, and R2 of 0.07 versus S&P 500 Index. Calculated based on daily prices since July 28, 1980.

• This fund participated in 34.46% of S&P 500 Index downside but only 30.37% of its upside - more exposed to losses than it benefited from rallies.
• Beta of 0.08 may look defensive, but with R2 of 0.07 this fund is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this fund's risk.
• R2 of 0.07 means this fund moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.

PHCHX has a high expense ratio of 1.00%, indicating above-average management fees.

PHCHX ranks 54 for risk / return — on par with similar mutual funds. You're getting a typical balance of risk and reward. Not a standout, but not a red flag either — a reasonable choice if other factors align with your goals.

Virtus Newfleet High Yield Fund provided a 6.49% dividend yield over the last twelve months, with an annual payout of $0.25 per share. The fund has been increasing its distributions for 4 consecutive years.

The table displays the monthly dividend distributions for Virtus Newfleet High Yield Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.

The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.

The table below displays the maximum drawdowns of the Virtus Newfleet High Yield Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.

The maximum drawdown for the Virtus Newfleet High Yield Fund was 31.44%, occurring on Dec 15, 2008. Recovery took 320 trading sessions.

The current Virtus Newfleet High Yield Fund drawdown is 0.26%.

The chart below shows the rolling one-month volatility.