AIO vs. TOWTX

Last updated Apr 1, 2026

Compare and contrast key facts about Virtus Artificial Intelligence & Technology Opportunities Fund (AIO) and Towpath Technology Fund (TOWTX).

AIO is managed by Virtus. It was launched on Oct 29, 2019. TOWTX is managed by Oelschlager Investments. It was launched on Feb 2, 2021.

Performance

AIO vs. TOWTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Virtus Artificial Intelligence & Technology Opportunities Fund (AIO) and Towpath Technology Fund (TOWTX). The values are adjusted to include any dividend payments, if applicable.

AIO vs. TOWTX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
AIO Virtus Artificial Intelligence & Technology Opportunities Fund	0.42%	0.48%	54.48%	19.27%	-28.06%	10.29%
TOWTX Towpath Technology Fund	-9.57%	9.55%	12.82%	29.78%	-15.96%	17.73%

Returns By Period

In the year-to-date period, AIO achieves a 0.42% return, which is significantly higher than TOWTX's -9.57% return.

AIO

• 1D: 1.47%
• 1M: -6.35%
• YTD: 0.42%
• 6M: -2.34%
• 1Y: 18.31%
• 3Y*: 19.00%
• 5Y*: 7.62%
• 10Y*: —

TOWTX

• 1D: -0.07%
• 1M: -5.09%
• YTD: -9.57%
• 6M: -7.05%
• 1Y: 3.98%
• 3Y*: 10.31%
• 5Y*: 6.11%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

AIO vs. TOWTX - Expense Ratio Comparison

AIO has a 1.41% expense ratio, which is higher than TOWTX's 1.10% expense ratio.

AIO

Virtus Artificial Intelligence & Technology Opportunities Fund

TOWTX

Towpath Technology Fund

Return for Risk

AIO vs. TOWTX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AIO

AIO Risk / Return Rank: 38
AIO Sharpe Ratio Rank: 38
AIO Sortino Ratio Rank: 41
AIO Omega Ratio Rank: 38
AIO Calmar Ratio Rank: 39
AIO Martin Ratio Rank: 36

TOWTX

TOWTX Risk / Return Rank: 9
TOWTX Sharpe Ratio Rank: 9
TOWTX Sortino Ratio Rank: 9
TOWTX Omega Ratio Rank: 9
TOWTX Calmar Ratio Rank: 9
TOWTX Martin Ratio Rank: 9

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AIO vs. TOWTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Virtus Artificial Intelligence & Technology Opportunities Fund (AIO) and Towpath Technology Fund (TOWTX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	AIO	TOWTX	Difference
Sharpe ratio Return per unit of total volatility	0.80	0.23	+0.57
Sortino ratio Return per unit of downside risk	1.25	0.45	+0.80
Omega ratio Gain probability vs. loss probability	1.17	1.06	+0.11
Calmar ratio Return relative to maximum drawdown	1.02	0.16	+0.86
Martin ratio Return relative to average drawdown	3.74	0.51	+3.23
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AIO vs. TOWTX - Sharpe Ratio Comparison

The current AIO Sharpe Ratio is 0.80, which is higher than the TOWTX Sharpe Ratio of 0.23. The chart below compares the historical Sharpe Ratios of AIO and TOWTX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	AIO	TOWTX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.80	0.23	+0.57
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.35	0.00	+0.35
Sharpe Ratio (All Time) Calculated using the full available price history	0.50	0.00	+0.50

Correlation

The correlation between AIO and TOWTX is 0.68, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

AIO vs. TOWTX - Dividend Comparison

AIO's dividend yield for the trailing twelve months is around 13.97%, more than TOWTX's 1.88% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019
AIO Virtus Artificial Intelligence & Technology Opportunities Fund	13.97%	13.75%	7.30%	10.34%	11.12%	19.97%	9.31%	0.54%
TOWTX Towpath Technology Fund	1.88%	1.70%	3.55%	0.42%	0.57%	0.66%	0.00%	0.00%

Drawdowns

AIO vs. TOWTX - Drawdown Comparison

The maximum AIO drawdown since its inception was -44.88%, smaller than the maximum TOWTX drawdown of -98.79%. Use the drawdown chart below to compare losses from any high point for AIO and TOWTX.

Drawdown Indicators

	AIO	TOWTX	Difference
Max Drawdown Largest peak-to-trough decline	-44.88%	-98.79%	+53.91%
Max Drawdown (1Y) Largest decline over 1 year	-15.46%	-11.62%	-3.84%
Max Drawdown (5Y) Largest decline over 5 years	-37.39%	-98.79%	+61.40%
Current Drawdown Current decline from peak	-8.10%	-98.60%	+90.50%
Average Drawdown Average peak-to-trough decline	-11.22%	-26.18%	+14.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.21%	3.60%	+0.61%

Volatility

AIO vs. TOWTX - Volatility Comparison

Virtus Artificial Intelligence & Technology Opportunities Fund (AIO) has a higher volatility of 6.44% compared to Towpath Technology Fund (TOWTX) at 4.10%. This indicates that AIO's price experiences larger fluctuations and is considered to be riskier than TOWTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AIO	TOWTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.44%	4.10%	+2.34%
Volatility (6M) Calculated over the trailing 6-month period	13.65%	11.08%	+2.57%
Volatility (1Y) Calculated over the trailing 1-year period	23.22%	18.27%	+4.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.03%	3,101.36%	-3,079.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.03%	3,035.66%	-3,008.63%