BANX vs. NIE

Last updated Jun 23, 2026

BANX (StoneCastle Financial Corp.) is a stock, while NIE (Virtus Equity & Convertible Income Fund) is Derivative Income fund actively managed by Virtus. Over the past 10 years, BANX returned 9.86%/yr vs 14.31%/yr for NIE. At a 0.16 correlation, their price movements are largely independent.

Performance

BANX vs. NIE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in StoneCastle Financial Corp. (BANX) and Virtus Equity & Convertible Income Fund (NIE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BANX achieves a -6.87% return, which is significantly lower than NIE's 10.74% return. Over the past 10 years, BANX has underperformed NIE with an annualized return of 9.86%, while NIE has yielded a comparatively higher 14.31% annualized return.

BANX

• 1D: -0.61%
• 1M: -1.02%
• YTD: -6.87%
• 6M: -7.09%
• 1Y: 4.64%
• 3Y*: 18.70%
• 5Y*: 8.45%
• 10Y*: 9.86%

NIE

• 1D: 1.69%
• 1M: 2.08%
• YTD: 10.74%
• 6M: 11.63%
• 1Y: 28.50%
• 3Y*: 19.86%
• 5Y*: 10.32%
• 10Y*: 14.31%

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

BANX vs. NIE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BANX StoneCastle Financial Corp.	-6.87%	15.64%	27.68%	20.43%	-15.27%	20.95%	-5.78%	23.84%	2.95%	16.01%
NIE Virtus Equity & Convertible Income Fund	10.74%	12.15%	28.64%	26.71%	-26.73%	18.89%	33.78%	31.09%	-5.69%	23.68%

Correlation

The correlation between BANX and NIE is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.20
Correlation (3Y) Calculated over the trailing 3-year period	0.15
Correlation (5Y) Calculated over the trailing 5-year period	0.15
Correlation (10Y) Calculated over the trailing 10-year period	0.17
Correlation (All Time) Calculated using the full available price history since Nov 7, 2013	0.16

Return for Risk

BANX vs. NIE — Risk / Return Rank

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

BANX

BANX Risk / Return Rank: 49
BANX Sharpe Ratio Rank: 53
BANX Sortino Ratio Rank: 44
BANX Omega Ratio Rank: 44
BANX Calmar Ratio Rank: 51
BANX Martin Ratio Rank: 51

NIE

NIE Risk / Return Rank: 74
NIE Sharpe Ratio Rank: 77
NIE Sortino Ratio Rank: 74
NIE Omega Ratio Rank: 71
NIE Calmar Ratio Rank: 74
NIE Martin Ratio Rank: 74

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.

BANX vs. NIE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for StoneCastle Financial Corp. (BANX) and Virtus Equity & Convertible Income Fund (NIE). 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.

	BANX	NIE	Difference
Sharpe ratio: Return per unit of total volatility	0.30	2.36	-2.06
Sortino ratio: Return per unit of downside risk	0.53	3.27	-2.74
Omega ratio: Gain probability vs. loss probability	1.07	1.43	-0.36
Calmar ratio: Return relative to maximum drawdown	0.35	3.18	-2.83
Martin ratio: Return relative to average drawdown	0.78	13.11	-12.33

BANX vs. NIE - Sharpe Ratio Comparison

The current BANX Sharpe Ratio is 0.30, which is lower than the NIE Sharpe Ratio of 2.36. The chart below compares the historical Sharpe Ratios of BANX and NIE, 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

BANX vs. NIE - Drawdown Comparison

The maximum BANX drawdown since its inception was -55.06%, roughly equal to the maximum NIE drawdown of -57.90%. Use the drawdown chart below to compare losses from any high point for BANX and NIE.

Drawdown Indicators

	BANX	NIE	Difference
Max Drawdown Largest peak-to-trough decline	-55.06%	-57.90%	+2.84%
Max Drawdown (1Y) Largest decline over 1 year	-13.20%	-8.99%	-4.21%
Max Drawdown (3Y) Largest decline over 3 years	-13.71%	-20.79%	+7.08%
Max Drawdown (5Y) Largest decline over 5 years	-28.50%	-31.04%	+2.54%
Max Drawdown (10Y) Largest decline over 10 years	-55.06%	-38.99%	-16.07%
Current Drawdown Current decline from peak	-8.05%	-0.30%	-7.75%
Average Drawdown Average peak-to-trough decline	-9.45%	-7.99%	-1.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.98%	2.18%	+3.80%

Volatility

BANX vs. NIE - Volatility Comparison

The current volatility for StoneCastle Financial Corp. (BANX) is 3.05%, while Virtus Equity & Convertible Income Fund (NIE) has a volatility of 4.96%. This indicates that BANX experiences smaller price fluctuations and is considered to be less risky than NIE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BANX	NIE	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.05%	4.96%	-1.91%
Volatility (6M) Calculated over the trailing 6-month period	10.75%	9.96%	+0.79%
Volatility (1Y) Calculated over the trailing 1-year period	15.42%	12.17%	+3.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.73%	17.65%	+3.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.55%	19.81%	+7.74%

Dividends

BANX vs. NIE - Dividend Comparison

BANX's dividend yield for the trailing twelve months is around 13.34%, more than NIE's 9.86% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BANX StoneCastle Financial Corp.	13.34%	10.54%	9.53%	12.11%	9.74%	5.64%	8.16%	6.82%	7.88%	7.45%	7.81%	9.26%
NIE Virtus Equity & Convertible Income Fund	9.86%	10.14%	8.11%	9.56%	21.81%	10.86%	5.37%	6.71%	8.20%	7.19%	8.25%	8.46%

Frequently Asked Questions

Can I hold both BANX and NIE in my portfolio?

BANX and NIE have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BANX or NIE?

NIE has higher volatility (4.96%) compared to BANX (3.05%). In terms of maximum drawdown, BANX dropped -55.06% vs NIE's -57.90%.

Which has better risk-adjusted returns?

NIE currently has the higher Sharpe Ratio (2.36 vs 0.30), 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.