- ISIN
- US92828R5862
- CUSIP
- 92828R586
- Issuer
- Virtus
- Inception Date
- Mar 1, 1995
- Category
- REIT
- Min. Investment
- $2,500
- Distribution Policy
- Distributing
- Asset Class
- Real Estate
Share Price Chart
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Performance
PHRAX Performance Chart
Virtus Duff & Phelps Real Estate Securities Fund (PHRAX) is up 11.2% since the beginning of the year. PHRAX is currently trading at $20 per share. Investors who bought $1,000 worth of PHRAX shares 5 years ago would now be looking at an investment worth $1,202.
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Returns By Period
Virtus Duff & Phelps Real Estate Securities Fund (PHRAX) has returned 11.18% so far this year and 10.60% over the past 12 months. Over the last ten years, PHRAX has returned 6.10% per year, falling short of the S&P 500 Index benchmark, which averaged 13.75% annually.
Virtus Duff & Phelps Real Estate Securities Fund
- 1D
- -1.94%
- 1M
- -2.28%
- YTD
- 11.18%
- 6M
- 10.03%
- 1Y
- 10.60%
- 3Y*
- 9.97%
- 5Y*
- 3.75%
- 10Y*
- 6.10%
Benchmark (S&P 500 Index)
- 1D
- 0.13%
- 1M
- 5.25%
- YTD
- 11.16%
- 6M
- 11.43%
- 1Y
- 28.20%
- 3Y*
- 21.12%
- 5Y*
- 12.66%
- 10Y*
- 13.75%
PHRAX Monthly Returns History
Based on dividend-adjusted daily data since Feb 28, 1995, PHRAX's average daily return is +0.05%, while the average monthly return is +0.93%. At this rate, an investment would double in approximately 6.2 years.
Historically, 61% of months were positive and 39% were negative. The best month was Apr 2009 with a return of +29.0%, while the worst month was Oct 2008 at -30.6%. The longest winning streak lasted 14 consecutive months, and the longest losing streak was 6 months.
On a daily basis, PHRAX closed higher 52% of trading days. The best single day was Nov 24, 2008 with a return of +16.9%, while the worst single day was Mar 16, 2020 at -18.6%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 2.31% | 8.20% | -5.58% | 9.08% | -0.54% | -1.94% | 11.18% | ||||||
| 2025 | 0.53% | 3.28% | -3.53% | -1.65% | 2.12% | -0.91% | -1.29% | 3.11% | 0.79% | -1.37% | 1.87% | -2.44% | 0.23% |
| 2024 | -4.39% | 1.98% | 1.24% | -6.77% | 5.32% | 2.87% | 6.46% | 6.89% | 3.04% | -2.06% | 4.36% | -7.83% | 10.15% |
| 2023 | 10.46% | -4.98% | -1.90% | 1.25% | -3.86% | 4.31% | 1.80% | -3.24% | -6.58% | -4.05% | 10.96% | 8.34% | 10.98% |
| 2022 | -6.87% | -3.91% | 5.87% | -4.31% | -7.05% | -7.81% | 9.57% | -5.77% | -11.71% | 3.68% | 5.50% | -4.90% | -26.33% |
| 2021 | -0.45% | 3.88% | 4.44% | 8.79% | 1.19% | 2.72% | 5.79% | 2.60% | -5.48% | 8.58% | -0.85% | 8.83% | 46.79% |
Benchmark Metrics
Virtus Duff & Phelps Real Estate Securities Fund has an annualized alpha of 3.19%, beta of 0.87, and R2 of 0.44 versus S&P 500 Index. Calculated based on daily prices since March 01, 1995.
- This fund participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (81.41%) than losses (76.95%) - typical of diversified or defensive assets.
- R2 of 0.44 means the benchmark explains less than half of this fund's behavior - treat beta with caution or consider switching to a more representative benchmark.
- Alpha
- 3.19%
- Beta
- 0.87
- R²
- 0.44
- Upside Capture
- 81.41%
- Downside Capture
- 76.95%
Expense Ratio
PHRAX has a high expense ratio of 1.36%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
PHRAX ranks 12 for risk / return — in the bottom 12% of mutual funds on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Virtus Duff & Phelps Real Estate Securities Fund (PHRAX) and compare them to S&P 500 Index.
| PHRAX | Benchmark | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.83 | 2.39 | -1.56 |
Sortino ratioReturn per unit of downside risk | 1.18 | 3.25 | -2.08 |
Omega ratioGain probability vs. loss probability | 1.15 | 1.43 | -0.28 |
Calmar ratioReturn relative to maximum drawdown | 1.38 | 3.11 | -1.73 |
Martin ratioReturn relative to average drawdown | 4.06 | 14.38 | -10.32 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Dividends
Dividend History
Virtus Duff & Phelps Real Estate Securities Fund provided a 5.32% dividend yield over the last twelve months, with an annual payout of $1.05 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $1.05 | $1.05 | $1.58 | $2.28 | $2.08 | $1.26 | $1.13 | $4.66 | $3.98 | $4.93 | $6.35 | $6.83 |
Dividend yield | 5.32% | 5.93% | 8.39% | 12.35% | 11.12% | 4.45% | 5.58% | 21.34% | 19.03% | 18.54% | 21.22% | 20.04% |
Monthly Dividends
The table displays the monthly dividend distributions for Virtus Duff & Phelps Real Estate Securities Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.06 | $0.00 | $0.00 | $0.00 | $0.06 | ||||||
| 2025 | $0.00 | $0.00 | $0.07 | $0.00 | $0.00 | $0.09 | $0.00 | $0.00 | $0.09 | $0.00 | $0.00 | $0.81 | $1.05 |
| 2024 | $0.00 | $0.00 | $0.05 | $0.00 | $0.00 | $0.08 | $0.00 | $0.00 | $0.09 | $0.00 | $0.00 | $1.35 | $1.58 |
| 2023 | $0.00 | $0.00 | $0.08 | $0.00 | $0.00 | $0.09 | $0.00 | $0.00 | $0.09 | $0.00 | $0.00 | $2.01 | $2.28 |
| 2022 | $0.00 | $0.00 | $0.07 | $0.00 | $0.00 | $0.06 | $0.00 | $0.00 | $0.07 | $0.00 | $0.00 | $1.88 | $2.08 |
| 2021 | $0.00 | $0.00 | $0.18 | $0.00 | $0.00 | $0.08 | $0.00 | $0.00 | $0.06 | $0.00 | $0.00 | $0.93 | $1.26 |
Drawdowns
Drawdowns Chart
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.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Virtus Duff & Phelps Real Estate Securities 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 Duff & Phelps Real Estate Securities Fund was 72.56%, occurring on Mar 6, 2009. Recovery took 978 trading sessions.
The current Virtus Duff & Phelps Real Estate Securities Fund drawdown is 3.90%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Financial crisis2007–2009 | -72.56%Mar 2009 | 2y 27d | 3y 10mo | 5y 11moFeb 2007 - Jan 2013 |
COVID crash2020 | -42.00%Mar 2020 | 1mo 4d | 1y 14d | 1y 1moFeb 2020 - Apr 2021 |
2023 bear market2023 | -33.51%Oct 2023 | 1y 9mo | 2y 4mo | 4y 1moJan 2022 - Feb 2026 |
1998 bear market1998 | -28.27%Sep 1998 | 11mo 8d | 1y 10mo | 2y 9moOct 1997 - Jul 2000 |
2004 correction2004 | -18.50%May 2004 | 1mo 8d | 3mo 25d | 5mo 3dApr 2004 - Sep 2004 |
Drawdown Indicators
| PHRAX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -72.56% | -56.78% | -15.78% |
Max Drawdown (1Y)Largest decline over 1 year | -7.83% | -9.10% | +1.27% |
Max Drawdown (3Y)Largest decline over 3 years | -19.09% | -18.90% | -0.19% |
Max Drawdown (5Y)Largest decline over 5 years | -33.51% | -25.43% | -8.08% |
Max Drawdown (10Y)Largest decline over 10 years | -42.00% | -33.92% | -8.08% |
Current DrawdownCurrent decline from peak | -3.90% | 0.00% | -3.90% |
Average DrawdownAverage peak-to-trough decline | -11.37% | -10.72% | -0.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.66% | 1.97% | +0.69% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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