AIO vs. TOWTX
AIO (Virtus Artificial Intelligence & Technology Opportunities Fund) and TOWTX (Towpath Technology Fund) are both Technology Equities funds. Over the past 5 years, AIO returned 13.23%/yr vs 8.60%/yr for TOWTX. A 0.67 correlation means they provide meaningful diversification when combined. AIO charges 1.41%/yr vs 1.10%/yr for TOWTX.
Performance
AIO vs. TOWTX - Performance Comparison
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Returns By Period
In the year-to-date period, AIO achieves a 32.52% return, which is significantly higher than TOWTX's 6.51% return.
AIO
- 1D
- -2.33%
- 1M
- 7.33%
- YTD
- 32.52%
- 6M
- 30.74%
- 1Y
- 34.16%
- 3Y*
- 27.70%
- 5Y*
- 13.23%
- 10Y*
- —
TOWTX
- 1D
- -1.05%
- 1M
- -2.73%
- YTD
- 6.51%
- 6M
- 5.39%
- 1Y
- 16.69%
- 3Y*
- 13.28%
- 5Y*
- 8.60%
- 10Y*
- —
AIO vs. TOWTX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
AIO Virtus Artificial Intelligence & Technology Opportunities Fund | 32.52% | 0.48% | 54.48% | 19.27% | -28.06% | 13.56% |
TOWTX Towpath Technology Fund | 6.51% | 9.55% | 12.82% | 29.78% | -15.96% | 17.73% |
Correlation
The correlation between AIO and TOWTX is 0.55, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.55 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.58 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.69 |
Correlation (All Time) Calculated using the full available price history since Jan 7, 2021 | 0.67 |
The correlation between AIO and TOWTX shifts across timeframes, from 0.55 (1 year) to 0.69 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
AIO vs. TOWTX — Risk / Return Rank
AIO
TOWTX
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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| AIO | TOWTX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.65 | ||
| Sortino ratioReturn per unit of downside risk | +0.94 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.20 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 3.00 | 1.53 | +1.48 |
| Martin ratioReturn relative to average drawdown | 8.88 | 4.85 | +4.03 |
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Drawdowns
AIO vs. TOWTX - Drawdown Comparison
The maximum AIO drawdown since its inception was -44.88%, smaller than the maximum TOWTX drawdown of -88.96%. Use the drawdown chart below to compare losses from any high point for AIO and TOWTX.
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Drawdown Indicators
| AIO | TOWTX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -44.88% | -88.96% | +44.08% |
Max Drawdown (1Y)Largest decline over 1 year | -11.42% | -11.62% | +0.20% |
Max Drawdown (3Y)Largest decline over 3 years | -30.23% | -88.96% | +58.73% |
Max Drawdown (5Y)Largest decline over 5 years | -37.39% | -88.96% | +51.57% |
Current DrawdownCurrent decline from peak | -2.33% | -85.04% | +82.71% |
Average DrawdownAverage peak-to-trough decline | -10.88% | -25.75% | +14.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.86% | 3.66% | +0.20% |
Volatility
AIO vs. TOWTX - Volatility Comparison
Virtus Artificial Intelligence & Technology Opportunities Fund (AIO) has a higher volatility of 7.95% compared to Towpath Technology Fund (TOWTX) at 5.89%. 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.
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Volatility by Period
| AIO | TOWTX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.95% | 5.89% | +2.06% |
Volatility (6M)Calculated over the trailing 6-month period | 14.91% | 12.09% | +2.82% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.91% | 15.28% | +3.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.26% | 146.57% | -124.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.91% | 140.37% | -113.46% |
AIO vs. TOWTX - Expense Ratio Comparison
AIO has a 1.41% expense ratio, which is higher than TOWTX's 1.10% expense ratio.
Dividends
AIO vs. TOWTX - Dividend Comparison
AIO's dividend yield for the trailing twelve months is around 10.90%, more than TOWTX's 1.60% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
AIO Virtus Artificial Intelligence & Technology Opportunities Fund | 10.90% | 13.75% | 7.30% | 10.34% | 11.12% | 19.97% | 9.31% | 0.54% |
TOWTX Towpath Technology Fund | 1.60% | 1.70% | 3.55% | 0.42% | 0.57% | 0.66% | 0.00% | 0.00% |
Frequently Asked Questions
AIO and TOWTX have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AIO has higher volatility (7.95%) compared to TOWTX (5.89%). In terms of maximum drawdown, AIO dropped -44.88% vs TOWTX's -88.96%.
AIO currently has the higher Sharpe Ratio (1.82 vs 1.17), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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