ANNPX vs. LOCFX

Last updated Jun 4, 2026

ANNPX (Virtus Convertible Fund) and LOCFX (Lord Abbett Convertible Fund Class F3) are both Convertible Bonds funds. Over the past 5 years, ANNPX returned 9.38%/yr vs 7.47%/yr for LOCFX. Their correlation of 0.91 suggests significant overlap in exposure. ANNPX charges 0.71%/yr vs 0.82%/yr for LOCFX.

Performance

ANNPX vs. LOCFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Virtus Convertible Fund (ANNPX) and Lord Abbett Convertible Fund Class F3 (LOCFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with ANNPX having a 21.91% return and LOCFX slightly higher at 22.45%.

ANNPX

• 1D: 1.01%
• 1M: 6.09%
• YTD: 21.91%
• 6M: 21.76%
• 1Y: 45.57%
• 3Y*: 21.53%
• 5Y*: 9.38%
• 10Y*: 14.60%

LOCFX

• 1D: 0.86%
• 1M: 5.62%
• YTD: 22.45%
• 6M: 22.88%
• 1Y: 42.20%
• 3Y*: 21.51%
• 5Y*: 7.47%
• 10Y*: —

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

ANNPX vs. LOCFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ANNPX Virtus Convertible Fund	21.91%	22.50%	14.13%	8.39%	-18.65%	4.96%	55.99%	26.45%	2.76%	9.98%
LOCFX Lord Abbett Convertible Fund Class F3	22.45%	22.43%	14.00%	7.30%	-23.12%	1.40%	64.47%	25.07%	-6.42%	10.04%

Correlation

The correlation between ANNPX and LOCFX is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.96
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (All Time) Calculated using the full available price history since Apr 5, 2017	0.91

The correlation between ANNPX and LOCFX has been stable across timeframes, ranging from 0.91 to 0.96 - a consistent structural relationship.

Return for Risk

ANNPX vs. LOCFX — Risk / Return Rank

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

ANNPX

ANNPX Risk / Return Rank: 93
ANNPX Sharpe Ratio Rank: 95
ANNPX Sortino Ratio Rank: 89
ANNPX Omega Ratio Rank: 85
ANNPX Calmar Ratio Rank: 96
ANNPX Martin Ratio Rank: 98

LOCFX

LOCFX Risk / Return Rank: 87
LOCFX Sharpe Ratio Rank: 89
LOCFX Sortino Ratio Rank: 80
LOCFX Omega Ratio Rank: 77
LOCFX Calmar Ratio Rank: 96
LOCFX Martin Ratio Rank: 95

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.

ANNPX vs. LOCFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Virtus Convertible Fund (ANNPX) and Lord Abbett Convertible Fund Class F3 (LOCFX). 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.

	ANNPX	LOCFX	Difference
Sharpe ratio: Return per unit of total volatility	3.33	2.94	+0.38
Sortino ratio: Return per unit of downside risk	4.28	3.82	+0.46
Omega ratio: Gain probability vs. loss probability	1.58	1.51	+0.07
Calmar ratio: Return relative to maximum drawdown	6.50	6.16	+0.34
Martin ratio: Return relative to average drawdown	28.78	23.09	+5.69
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ANNPX vs. LOCFX - Sharpe Ratio Comparison

The current ANNPX Sharpe Ratio is 3.33, which is comparable to the LOCFX Sharpe Ratio of 2.94. The chart below compares the historical Sharpe Ratios of ANNPX and LOCFX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ANNPX	LOCFX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.33	2.94	+0.38
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.73	0.58	+0.16
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.08	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.55	0.92	-0.37

Drawdowns

ANNPX vs. LOCFX - Drawdown Comparison

The maximum ANNPX drawdown since its inception was -55.61%, which is greater than LOCFX's maximum drawdown of -33.29%. Use the drawdown chart below to compare losses from any high point for ANNPX and LOCFX.

Drawdown Indicators

	ANNPX	LOCFX	Difference
Max Drawdown Largest peak-to-trough decline	-55.61%	-33.29%	-22.32%
Max Drawdown (1Y) Largest decline over 1 year	-7.15%	-7.02%	-0.13%
Max Drawdown (3Y) Largest decline over 3 years	-13.67%	-12.09%	-1.58%
Max Drawdown (5Y) Largest decline over 5 years	-26.85%	-30.60%	+3.75%
Max Drawdown (10Y) Largest decline over 10 years	-27.36%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-17.45%	-11.21%	-6.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.61%	1.87%	-0.26%

Volatility

ANNPX vs. LOCFX - Volatility Comparison

The current volatility for Virtus Convertible Fund (ANNPX) is 4.58%, while Lord Abbett Convertible Fund Class F3 (LOCFX) has a volatility of 5.38%. This indicates that ANNPX experiences smaller price fluctuations and is considered to be less risky than LOCFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ANNPX	LOCFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.58%	5.38%	-0.80%
Volatility (6M) Calculated over the trailing 6-month period	11.25%	12.16%	-0.91%
Volatility (1Y) Calculated over the trailing 1-year period	13.97%	14.69%	-0.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.84%	12.96%	-0.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.59%	14.01%	-0.42%

ANNPX vs. LOCFX - Expense Ratio Comparison

ANNPX has a 0.71% expense ratio, which is lower than LOCFX's 0.82% expense ratio.

Dividends

ANNPX vs. LOCFX - Dividend Comparison

ANNPX's dividend yield for the trailing twelve months is around 9.23%, more than LOCFX's 1.26% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ANNPX Virtus Convertible Fund	9.23%	11.32%	2.31%	2.56%	1.55%	20.74%	6.94%	5.12%	18.79%	23.47%	2.88%	10.63%
LOCFX Lord Abbett Convertible Fund Class F3	1.26%	1.86%	2.29%	2.06%	2.72%	18.36%	16.20%	8.75%	5.02%	2.08%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ANNPX and LOCFX in my portfolio?

With a correlation of 0.96, ANNPX and LOCFX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, ANNPX or LOCFX?

LOCFX has higher volatility (5.38%) compared to ANNPX (4.58%). In terms of maximum drawdown, ANNPX dropped -55.61% vs LOCFX's -33.29%.

Which has better risk-adjusted returns?

ANNPX currently has the higher Sharpe Ratio (3.33 vs 2.94), 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.