AZBIX vs. AOTIX

Last updated Jun 5, 2026

AZBIX (Virtus Small-Cap Fund) and AOTIX (Virtus Emerging Markets Opportunities Fund) are both mutual funds - AZBIX is a Small Cap Blend Equities fund managed by Allianz, while AOTIX is a Emerging Markets Diversified fund managed by Allianz. Over the past 10 years, AZBIX returned 11.77%/yr vs 11.01%/yr for AOTIX. A 0.55 correlation means they provide meaningful diversification when combined. AZBIX charges 0.89%/yr vs 0.94%/yr for AOTIX.

Performance

AZBIX vs. AOTIX - Performance Comparison

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

Returns By Period

In the year-to-date period, AZBIX achieves a 17.18% return, which is significantly lower than AOTIX's 33.92% return. Over the past 10 years, AZBIX has outperformed AOTIX with an annualized return of 11.77%, while AOTIX has yielded a comparatively lower 11.01% annualized return.

AZBIX

• 1D: -0.86%
• 1M: 0.84%
• YTD: 17.18%
• 6M: 16.12%
• 1Y: 32.63%
• 3Y*: 17.89%
• 5Y*: 8.04%
• 10Y*: 11.77%

AOTIX

• 1D: 0.04%
• 1M: 12.52%
• YTD: 33.92%
• 6M: 38.65%
• 1Y: 64.65%
• 3Y*: 25.65%
• 5Y*: 8.21%
• 10Y*: 11.01%

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

AZBIX vs. AOTIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AZBIX Virtus Small-Cap Fund	17.18%	8.49%	19.06%	14.09%	-18.04%	18.92%	16.98%	24.13%	-9.25%	21.27%
AOTIX Virtus Emerging Markets Opportunities Fund	33.92%	29.73%	5.44%	17.83%	-22.10%	-0.26%	20.78%	17.66%	-16.62%	38.37%

Correlation

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

Return for Risk

AZBIX vs. AOTIX — Risk / Return Rank

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

AZBIX

AZBIX Risk / Return Rank: 54
AZBIX Sharpe Ratio Rank: 45
AZBIX Sortino Ratio Rank: 45
AZBIX Omega Ratio Rank: 40
AZBIX Calmar Ratio Rank: 78
AZBIX Martin Ratio Rank: 62

AOTIX

AOTIX Risk / Return Rank: 93
AOTIX Sharpe Ratio Rank: 98
AOTIX Sortino Ratio Rank: 93
AOTIX Omega Ratio Rank: 92
AOTIX Calmar Ratio Rank: 92
AOTIX Martin Ratio Rank: 92

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.

AZBIX vs. AOTIX - Risk-Adjusted Trends Comparison

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

	AZBIX	AOTIX	Difference
Sharpe ratio: Return per unit of total volatility	1.94	3.79	-1.85
Sortino ratio: Return per unit of downside risk	2.78	4.69	-1.91
Omega ratio: Gain probability vs. loss probability	1.34	1.70	-0.37
Calmar ratio: Return relative to maximum drawdown	3.47	4.82	-1.35
Martin ratio: Return relative to average drawdown	12.14	18.85	-6.71
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AZBIX vs. AOTIX - Sharpe Ratio Comparison

The current AZBIX Sharpe Ratio is 1.94, which is lower than the AOTIX Sharpe Ratio of 3.79. The chart below compares the historical Sharpe Ratios of AZBIX and AOTIX, 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

	AZBIX	AOTIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.94	3.79	-1.85
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.39	0.51	-0.11
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.55	0.63	-0.08
Sharpe Ratio (All Time) Calculated using the full available price history	0.54	0.46	+0.08

Drawdowns

AZBIX vs. AOTIX - Drawdown Comparison

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

Drawdown Indicators

	AZBIX	AOTIX	Difference
Max Drawdown Largest peak-to-trough decline	-40.80%	-68.42%	+27.62%
Max Drawdown (1Y) Largest decline over 1 year	-9.33%	-13.70%	+4.37%
Max Drawdown (3Y) Largest decline over 3 years	-29.01%	-17.76%	-11.25%
Max Drawdown (5Y) Largest decline over 5 years	-29.85%	-36.18%	+6.33%
Max Drawdown (10Y) Largest decline over 10 years	-40.80%	-38.05%	-2.75%
Current Drawdown Current decline from peak	-0.86%	0.00%	-0.86%
Average Drawdown Average peak-to-trough decline	-7.71%	-18.66%	+10.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.66%	3.50%	-0.84%

Volatility

AZBIX vs. AOTIX - Volatility Comparison

The current volatility for Virtus Small-Cap Fund (AZBIX) is 5.05%, while Virtus Emerging Markets Opportunities Fund (AOTIX) has a volatility of 7.02%. This indicates that AZBIX experiences smaller price fluctuations and is considered to be less risky than AOTIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AZBIX	AOTIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.05%	7.02%	-1.97%
Volatility (6M) Calculated over the trailing 6-month period	12.17%	14.77%	-2.60%
Volatility (1Y) Calculated over the trailing 1-year period	16.72%	17.44%	-0.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.50%	16.30%	+4.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.36%	17.40%	+3.96%

AZBIX vs. AOTIX - Expense Ratio Comparison

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

Dividends

AZBIX vs. AOTIX - Dividend Comparison

AZBIX's dividend yield for the trailing twelve months is around 4.18%, more than AOTIX's 2.48% 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	4.18%	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 AZBIX and AOTIX in my portfolio?

AZBIX and AOTIX 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, AZBIX or AOTIX?

AOTIX has higher volatility (7.02%) compared to AZBIX (5.05%). In terms of maximum drawdown, AZBIX dropped -40.80% vs AOTIX's -68.42%.

Which has better risk-adjusted returns?

AOTIX currently has the higher Sharpe Ratio (3.79 vs 1.94), 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.