AOTIX vs. AZBIX

Last updated Jun 4, 2026

AOTIX (Virtus Emerging Markets Opportunities Fund) and AZBIX (Virtus Small-Cap Fund) are both mutual funds - AOTIX is a Emerging Markets Diversified fund managed by Allianz, while AZBIX is a Small Cap Blend Equities fund managed by Allianz. Over the past 10 years, AOTIX returned 11.00%/yr vs 11.87%/yr for AZBIX. A 0.55 correlation means they provide meaningful diversification when combined. AOTIX charges 0.94%/yr vs 0.89%/yr for AZBIX.

Performance

AOTIX vs. AZBIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Virtus Emerging Markets Opportunities Fund (AOTIX) and Virtus Small-Cap Fund (AZBIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AOTIX achieves a 33.86% return, which is significantly higher than AZBIX's 18.19% return. Over the past 10 years, AOTIX has underperformed AZBIX with an annualized return of 11.00%, while AZBIX has yielded a comparatively higher 11.87% annualized return.

AOTIX

• 1D: 1.28%
• 1M: 12.58%
• YTD: 33.86%
• 6M: 38.86%
• 1Y: 65.63%
• 3Y*: 25.63%
• 5Y*: 8.27%
• 10Y*: 11.00%

AZBIX

• 1D: 1.46%
• 1M: 4.03%
• YTD: 18.19%
• 6M: 17.67%
• 1Y: 33.37%
• 3Y*: 18.23%
• 5Y*: 8.33%
• 10Y*: 11.87%

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

AOTIX vs. AZBIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AOTIX Virtus Emerging Markets Opportunities Fund	33.86%	29.73%	5.44%	17.83%	-22.10%	-0.26%	20.78%	17.66%	-16.62%	38.37%
AZBIX Virtus Small-Cap Fund	18.19%	8.49%	19.06%	14.09%	-18.04%	18.92%	16.98%	24.13%	-9.25%	21.27%

Correlation

The correlation between AOTIX and AZBIX is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.38
Correlation (3Y) Calculated over the trailing 3-year period	0.41
Correlation (5Y) Calculated over the trailing 5-year period	0.49
Correlation (10Y) Calculated over the trailing 10-year period	0.53
Correlation (All Time) Calculated using the full available price history since Jul 3, 2013	0.55

The correlation between AOTIX and AZBIX shifts across timeframes, from 0.38 (1 year) to 0.55 (all time), reflecting how their relationship changes across market environments.

Return for Risk

AOTIX vs. AZBIX — Risk / Return Rank

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

AOTIX

AOTIX Risk / Return Rank: 93
AOTIX Sharpe Ratio Rank: 97
AOTIX Sortino Ratio Rank: 93
AOTIX Omega Ratio Rank: 92
AOTIX Calmar Ratio Rank: 91
AOTIX Martin Ratio Rank: 91

AZBIX

AZBIX Risk / Return Rank: 59
AZBIX Sharpe Ratio Rank: 51
AZBIX Sortino Ratio Rank: 50
AZBIX Omega Ratio Rank: 44
AZBIX Calmar Ratio Rank: 81
AZBIX Martin Ratio Rank: 68

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.

AOTIX vs. AZBIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Virtus Emerging Markets Opportunities Fund (AOTIX) and Virtus Small-Cap Fund (AZBIX). 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.

	AOTIX	AZBIX	Difference
Sharpe ratio Return per unit of total volatility	3.80	2.09	+1.70
Sortino ratio Return per unit of downside risk	4.70	2.98	+1.73
Omega ratio Gain probability vs. loss probability	1.70	1.36	+0.34
Calmar ratio Return relative to maximum drawdown	4.83	3.74	+1.09
Martin ratio Return relative to average drawdown	18.89	13.11	+5.79
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AOTIX vs. AZBIX - Sharpe Ratio Comparison

The current AOTIX Sharpe Ratio is 3.80, which is higher than the AZBIX Sharpe Ratio of 2.09. The chart below compares the historical Sharpe Ratios of AOTIX and AZBIX, 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

	AOTIX	AZBIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.80	2.09	+1.70
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.51	0.41	+0.10
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.63	0.56	+0.08
Sharpe Ratio (All Time) Calculated using the full available price history	0.46	0.55	-0.08

Drawdowns

AOTIX vs. AZBIX - Drawdown Comparison

The maximum AOTIX drawdown since its inception was -68.42%, which is greater than AZBIX's maximum drawdown of -40.80%. Use the drawdown chart below to compare losses from any high point for AOTIX and AZBIX.

Drawdown Indicators

	AOTIX	AZBIX	Difference
Max Drawdown Largest peak-to-trough decline	-68.42%	-40.80%	-27.62%
Max Drawdown (1Y) Largest decline over 1 year	-13.70%	-9.33%	-4.37%
Max Drawdown (3Y) Largest decline over 3 years	-17.76%	-29.01%	+11.25%
Max Drawdown (5Y) Largest decline over 5 years	-36.18%	-29.85%	-6.33%
Max Drawdown (10Y) Largest decline over 10 years	-38.05%	-40.80%	+2.75%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-18.66%	-7.71%	-10.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.50%	2.66%	+0.84%

Volatility

AOTIX vs. AZBIX - Volatility Comparison

Virtus Emerging Markets Opportunities Fund (AOTIX) has a higher volatility of 7.08% compared to Virtus Small-Cap Fund (AZBIX) at 4.98%. This indicates that AOTIX's price experiences larger fluctuations and is considered to be riskier than AZBIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AOTIX	AZBIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.08%	4.98%	+2.10%
Volatility (6M) Calculated over the trailing 6-month period	14.77%	12.17%	+2.60%
Volatility (1Y) Calculated over the trailing 1-year period	17.44%	16.69%	+0.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.30%	20.50%	-4.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.40%	21.36%	-3.96%

AOTIX vs. AZBIX - Expense Ratio Comparison

AOTIX has a 0.94% expense ratio, which is higher than AZBIX's 0.89% expense ratio.

Dividends

AOTIX vs. AZBIX - Dividend Comparison

AOTIX's dividend yield for the trailing twelve months is around 2.48%, less than AZBIX's 4.15% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AOTIX Virtus Emerging Markets Opportunities Fund	2.48%	3.33%	6.13%	3.48%	3.15%	1.94%	1.40%	2.37%	2.81%	1.60%	1.91%	1.10%
AZBIX Virtus Small-Cap Fund	4.15%	4.90%	10.82%	2.31%	4.78%	13.82%	0.45%	0.38%	9.62%	13.80%	0.03%	3.59%

Frequently Asked Questions

Can I hold both AOTIX and AZBIX in my portfolio?

AOTIX and AZBIX have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AOTIX or AZBIX?

AOTIX has higher volatility (7.08%) compared to AZBIX (4.98%). In terms of maximum drawdown, AOTIX dropped -68.42% vs AZBIX's -40.80%.

Which has better risk-adjusted returns?

AOTIX currently has the higher Sharpe Ratio (3.80 vs 2.09), 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.