AWTAX vs. NFJEX

Last updated Jun 4, 2026

AWTAX (Virtus Water Fund) and NFJEX (Virtus NFJ Dividend Value Fund) are both mutual funds - AWTAX is a Energy Equities fund managed by Allianz, while NFJEX is a Large Cap Value Equities fund managed by Allianz. Over the past 10 years, AWTAX returned 7.17%/yr vs 9.82%/yr for NFJEX. Their correlation of 0.82 suggests significant overlap in exposure. AWTAX charges 1.22%/yr vs 0.70%/yr for NFJEX.

Performance

AWTAX vs. NFJEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Virtus Water Fund (AWTAX) and Virtus NFJ Dividend Value Fund (NFJEX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AWTAX achieves a -3.74% return, which is significantly lower than NFJEX's 19.17% return. Over the past 10 years, AWTAX has underperformed NFJEX with an annualized return of 7.17%, while NFJEX has yielded a comparatively higher 9.82% annualized return.

AWTAX

• 1D: 0.83%
• 1M: -3.74%
• YTD: -3.74%
• 6M: -5.55%
• 1Y: -1.30%
• 3Y*: 6.71%
• 5Y*: 2.29%
• 10Y*: 7.17%

NFJEX

• 1D: 1.27%
• 1M: 5.92%
• YTD: 19.17%
• 6M: 19.26%
• 1Y: 32.75%
• 3Y*: 16.48%
• 5Y*: 9.55%
• 10Y*: 9.82%

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

AWTAX vs. NFJEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AWTAX Virtus Water Fund	-3.74%	11.87%	5.25%	11.99%	-21.01%	25.39%	16.68%	32.78%	-12.50%	21.99%
NFJEX Virtus NFJ Dividend Value Fund	19.17%	8.46%	5.29%	19.79%	-13.63%	28.90%	-2.13%	25.12%	-10.15%	15.49%

Correlation

The correlation between AWTAX and NFJEX is 0.72, 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	0.72
Correlation (3Y) Calculated over the trailing 3-year period	0.77
Correlation (5Y) Calculated over the trailing 5-year period	0.82
Correlation (10Y) Calculated over the trailing 10-year period	0.79
Correlation (All Time) Calculated using the full available price history since Apr 1, 2008	0.82

The correlation between AWTAX and NFJEX has been stable across timeframes, ranging from 0.72 to 0.82 - a consistent structural relationship.

Return for Risk

AWTAX vs. NFJEX — Risk / Return Rank

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

AWTAX

AWTAX Risk / Return Rank: 2
AWTAX Sharpe Ratio Rank: 2
AWTAX Sortino Ratio Rank: 2
AWTAX Omega Ratio Rank: 2
AWTAX Calmar Ratio Rank: 2
AWTAX Martin Ratio Rank: 2

NFJEX

NFJEX Risk / Return Rank: 80
NFJEX Sharpe Ratio Rank: 80
NFJEX Sortino Ratio Rank: 79
NFJEX Omega Ratio Rank: 68
NFJEX Calmar Ratio Rank: 89
NFJEX Martin Ratio Rank: 83

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.

AWTAX vs. NFJEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Virtus Water Fund (AWTAX) and Virtus NFJ Dividend Value Fund (NFJEX). 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.

	AWTAX	NFJEX	Difference
Sharpe ratio: Return per unit of total volatility	-0.06	2.60	-2.66
Sortino ratio: Return per unit of downside risk	0.01	3.75	-3.75
Omega ratio: Gain probability vs. loss probability	1.00	1.46	-0.46
Calmar ratio: Return relative to maximum drawdown	-0.06	4.55	-4.61
Martin ratio: Return relative to average drawdown	-0.17	15.62	-15.80
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AWTAX vs. NFJEX - Sharpe Ratio Comparison

The current AWTAX Sharpe Ratio is -0.06, which is lower than the NFJEX Sharpe Ratio of 2.60. The chart below compares the historical Sharpe Ratios of AWTAX and NFJEX, 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

	AWTAX	NFJEX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.06	2.60	-2.66
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.13	0.58	-0.45
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.41	0.54	-0.13
Sharpe Ratio (All Time) Calculated using the full available price history	0.31	0.43	-0.12

Drawdowns

AWTAX vs. NFJEX - Drawdown Comparison

The maximum AWTAX drawdown since its inception was -54.12%, smaller than the maximum NFJEX drawdown of -61.94%. Use the drawdown chart below to compare losses from any high point for AWTAX and NFJEX.

Drawdown Indicators

	AWTAX	NFJEX	Difference
Max Drawdown Largest peak-to-trough decline	-54.12%	-61.94%	+7.82%
Max Drawdown (1Y) Largest decline over 1 year	-12.17%	-7.38%	-4.79%
Max Drawdown (3Y) Largest decline over 3 years	-17.00%	-19.69%	+2.69%
Max Drawdown (5Y) Largest decline over 5 years	-30.85%	-23.29%	-7.56%
Max Drawdown (10Y) Largest decline over 10 years	-32.78%	-39.25%	+6.47%
Current Drawdown Current decline from peak	-11.00%	0.00%	-11.00%
Average Drawdown Average peak-to-trough decline	-9.90%	-9.61%	-0.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.56%	2.14%	+2.42%

Volatility

AWTAX vs. NFJEX - Volatility Comparison

Virtus Water Fund (AWTAX) has a higher volatility of 4.26% compared to Virtus NFJ Dividend Value Fund (NFJEX) at 3.89%. This indicates that AWTAX's price experiences larger fluctuations and is considered to be riskier than NFJEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AWTAX	NFJEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.26%	3.89%	+0.37%
Volatility (6M) Calculated over the trailing 6-month period	10.00%	9.50%	+0.50%
Volatility (1Y) Calculated over the trailing 1-year period	13.05%	12.92%	+0.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.19%	16.50%	+0.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.33%	18.14%	-0.81%

AWTAX vs. NFJEX - Expense Ratio Comparison

AWTAX has a 1.22% expense ratio, which is higher than NFJEX's 0.70% expense ratio.

Dividends

AWTAX vs. NFJEX - Dividend Comparison

AWTAX's dividend yield for the trailing twelve months is around 12.39%, more than NFJEX's 10.49% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AWTAX Virtus Water Fund	12.39%	11.93%	7.78%	3.30%	0.42%	7.72%	1.61%	2.98%	3.71%	2.43%	0.99%	0.38%
NFJEX Virtus NFJ Dividend Value Fund	10.49%	12.61%	3.51%	14.16%	19.01%	6.43%	1.96%	14.20%	27.33%	27.35%	6.05%	2.77%

Frequently Asked Questions

Can I hold both AWTAX and NFJEX in my portfolio?

AWTAX and NFJEX have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AWTAX or NFJEX?

AWTAX has higher volatility (4.26%) compared to NFJEX (3.89%). In terms of maximum drawdown, AWTAX dropped -54.12% vs NFJEX's -61.94%.

Which has better risk-adjusted returns?

NFJEX currently has the higher Sharpe Ratio (2.60 vs -0.06), 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.