ASMF vs. VPC

Last updated Aug 2, 2026

ASMF (Virtus AlphaSimplex Managed Futures ETF) and VPC (Virtus Private Credit ETF) are both exchange-traded funds - ASMF is a Systematic Trend fund actively managed by Virtus, while VPC is a Nontraditional Bonds fund tracking the Indxx Private Credit Index. ASMF is actively managed, while VPC is passively managed. Over the past year, ASMF returned 16.60% vs -16.30% for VPC. Their 0.15 correlation means their historical movements had little consistent relationship. ASMF charges 0.80%/yr vs 0.75%/yr for VPC.

Performance

ASMF vs. VPC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Virtus AlphaSimplex Managed Futures ETF (ASMF) and Virtus Private Credit ETF (VPC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ASMF achieves a 7.73% return, which is significantly higher than VPC's -11.53% return.

ASMF

• 1D: 0.77%
• 1M: 1.36%
• 6M: 3.31%
• YTD: 7.73%
• 1Y: 16.60%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 2.24%

VPC

• 1D: 0.17%
• 1M: -1.53%
• 6M: -11.08%
• YTD: -11.53%
• 1Y: -16.30%
• 3Y*: -1.29%
• 5Y*: 0.87%
• 10Y*: —
• ALL TIME*: 3.63%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
ASMF Virtus AlphaSimplex Managed Futures ETF	$131.02K	$83.29K	$68.36K
VPC Virtus Private Credit ETF	$87.07K	$126.50K	$156.13K

ASMF vs. VPC - Yearly Performance Comparison

	2026 (YTD)	2025	2024
ASMF Virtus AlphaSimplex Managed Futures ETF	7.73%	1.16%	-3.65%
VPC Virtus Private Credit ETF	-11.53%	-6.75%	2.77%

Correlation

The correlation between ASMF and VPC is 0.11, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.11
Correlation (All Time) Calculated using the full available price history since May 16, 2024	0.15

Return for Risk

ASMF vs. VPC — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

ASMF

ASMF Risk / Return Rank: 65
ASMF Sharpe Ratio Rank: 61
ASMF Sortino Ratio Rank: 58
ASMF Omega Ratio Rank: 61
ASMF Calmar Ratio Rank: 85
ASMF Martin Ratio Rank: 62

VPC

VPC Risk / Return Rank: 1
VPC Sharpe Ratio Rank: 0
VPC Sortino Ratio Rank: 1
VPC Omega Ratio Rank: 1
VPC Calmar Ratio Rank: 3
VPC Martin Ratio Rank: 1

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

ASMF vs. VPC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Virtus AlphaSimplex Managed Futures ETF (ASMF) and Virtus Private Credit ETF (VPC). 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.

	ASMF	VPC	Difference
Sharpe ratio: Return per unit of total volatility	1.43	-1.25	+2.67
Sortino ratio: Return per unit of downside risk	1.99	-1.72	+3.71
Omega ratio: Gain probability vs. loss probability	1.27	0.81	+0.46
Calmar ratio: Return relative to maximum drawdown	3.26	-0.79	+4.06
Martin ratio: Return relative to average drawdown	7.54	-1.37	+8.90

ASMF vs. VPC - Sharpe Ratio Comparison

The current ASMF Sharpe Ratio is 1.43, which is higher than the VPC Sharpe Ratio of -1.25. The chart below compares the historical Sharpe Ratios of ASMF and VPC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ASMF vs. VPC - Drawdown Comparison

The maximum ASMF drawdown since its inception was -15.31%, smaller than the maximum VPC drawdown of -53.45%. Use the drawdown chart below to compare losses from any high point for ASMF and VPC.

Drawdown Indicators

	ASMF	VPC	Difference
Max Drawdown Largest peak-to-trough decline	-15.31%	-53.45%	+38.14%
Max Drawdown (1Y) Largest decline over 1 year	-5.02%	-21.55%	+16.53%
Max Drawdown (3Y) Largest decline over 3 years	—	-24.86%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-24.86%	—
Current Drawdown Current decline from peak	-2.83%	-21.64%	+18.81%
Average Drawdown Average peak-to-trough decline	-7.27%	-7.95%	+0.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.17%	12.51%	-10.34%

Volatility

ASMF vs. VPC - Volatility Comparison

The current volatility for Virtus AlphaSimplex Managed Futures ETF (ASMF) is 2.26%, while Virtus Private Credit ETF (VPC) has a volatility of 3.44%. This indicates that ASMF experiences smaller price fluctuations and is considered to be less risky than VPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ASMF	VPC	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.26%	3.44%	-1.18%
Volatility (6M) Calculated over the trailing 6-month period	9.19%	11.09%	-1.90%
Volatility (1Y) Calculated over the trailing 1-year period	11.49%	13.74%	-2.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.90%	13.58%	-2.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.90%	20.42%	-9.52%

ASMF vs. VPC - Expense Ratio Comparison

ASMF has a 0.80% expense ratio, which is higher than VPC's 0.75% expense ratio.

Dividends

ASMF vs. VPC - Dividend Comparison

ASMF's dividend yield for the trailing twelve months is around 0.20%, less than VPC's 16.46% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
ASMF Virtus AlphaSimplex Managed Futures ETF	0.20%	0.22%	1.66%	0.00%	0.00%	0.00%	0.00%	0.00%
VPC Virtus Private Credit ETF	16.46%	14.33%	11.26%	11.71%	10.74%	6.31%	10.06%	8.19%

Frequently Asked Questions

Can I hold both ASMF and VPC in my portfolio?

ASMF and VPC have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ASMF or VPC?

VPC has higher volatility (3.44%) compared to ASMF (2.26%). In terms of maximum drawdown, ASMF dropped -15.31% vs VPC's -53.45%.

Which ETF is better, ASMF or VPC?

On 1-year performance, ASMF leads with 16.60% vs -16.30% for VPC. On fees, VPC is cheaper at 0.75% per year. On volatility, ASMF has been the lower-risk option at 2.26%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ASMF or VPC?

Over the 1-year period, ASMF has performed better with a 16.60% return vs -16.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ASMF or VPC?

VPC is cheaper with a 0.75% expense ratio, compared with 0.80% for ASMF.

Which ETF pays a higher dividend yield, ASMF or VPC?

VPC has the higher dividend yield at 16.46%, compared with 0.20% for ASMF.

What is the main difference between ASMF and VPC?

ASMF is categorized as Systematic Trend, while VPC is Nontraditional Bonds. Their fees differ too: 0.80% for ASMF and 0.75% for VPC.

Which has better risk-adjusted returns?

ASMF currently has the higher Sharpe Ratio (1.43 vs -1.25), 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.