HXBIX vs. PKSFX

Last updated Aug 1, 2026

HXBIX (Virtus Newfleet Tax-Exempt Bond Fund) and PKSFX (Virtus KAR Small-Cap Core Fund) are both mutual funds - HXBIX is a Municipal Bonds fund managed by Virtus, while PKSFX is a Mid Cap Growth Equities fund managed by Virtus. Their -0.10 correlation means they have often moved in opposite directions in the past. HXBIX charges 0.60%/yr vs 1.00%/yr for PKSFX.

Performance

HXBIX vs. PKSFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Virtus Newfleet Tax-Exempt Bond Fund (HXBIX) and Virtus KAR Small-Cap Core Fund (PKSFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

HXBIX

• 1D: —
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

PKSFX

• 1D: -0.70%
• 1M: -2.66%
• 6M: 0.46%
• YTD: 7.36%
• 1Y: 6.06%
• 3Y*: 8.90%
• 5Y*: 8.16%
• 10Y*: 15.08%
• ALL TIME*: 10.85%

*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)
PKSFX Virtus KAR Small-Cap Core Fund	$0.00	$0.00	$0.00

HXBIX vs. PKSFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HXBIX Virtus Newfleet Tax-Exempt Bond Fund	1.09%	4.22%	0.71%	4.72%	-7.76%	0.72%	4.27%	6.81%	0.59%	4.69%
PKSFX Virtus KAR Small-Cap Core Fund	7.36%	-2.58%	13.67%	32.32%	-10.77%	19.03%	21.38%	40.21%	-1.99%	34.98%

Correlation

The correlation between HXBIX and PKSFX is 0.14, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.14
Correlation (3Y) Balances recent behavior with more history.	0.11
Correlation (5Y) Shows whether the relationship held over a longer period.	0.10
Correlation (10Y) Provides a long-term view across more market conditions.	0.01
Correlation (All Time) Calculated using the full available price history since Oct 18, 1996	-0.10

The correlation between HXBIX and PKSFX shifts across timeframes, from -0.10 (all time) to 0.14 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

HXBIX vs. PKSFX — Risk / Return Rank

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

HXBIX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

PKSFX

PKSFX Risk / Return Rank: 8
PKSFX Sharpe Ratio Rank: 8
PKSFX Sortino Ratio Rank: 9
PKSFX Omega Ratio Rank: 8
PKSFX Calmar Ratio Rank: 9
PKSFX Martin Ratio Rank: 8

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.

HXBIX vs. PKSFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Virtus Newfleet Tax-Exempt Bond Fund (HXBIX) and Virtus KAR Small-Cap Core Fund (PKSFX). 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.

	HXBIX	PKSFX	Difference
Sharpe ratio: Return per unit of total volatility	—	0.25	—
Sortino ratio: Return per unit of downside risk	—	0.50	—
Omega ratio: Gain probability vs. loss probability	—	1.05	—
Calmar ratio: Return relative to maximum drawdown	—	0.36	—
Martin ratio: Return relative to average drawdown	—	0.71	—

Drawdowns

Drawdown Indicators

	HXBIX	PKSFX	Difference
Max Drawdown Largest peak-to-trough decline	—	-54.46%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-11.19%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-21.82%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-22.02%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.45%	—
Current Drawdown Current decline from peak	—	-4.23%	—
Average Drawdown Average peak-to-trough decline	—	-7.16%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	5.61%	—

Volatility

Volatility by Period

	HXBIX	PKSFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.20%	—
Volatility (6M) Calculated over the trailing 6-month period	—	11.00%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	15.68%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	18.00%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	18.80%	—

HXBIX vs. PKSFX - Expense Ratio Comparison

HXBIX has a 0.60% expense ratio, which is lower than PKSFX's 1.00% expense ratio.

Dividends

HXBIX vs. PKSFX - Dividend Comparison

HXBIX's dividend yield for the trailing twelve months is around 3.25%, less than PKSFX's 13.32% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HXBIX Virtus Newfleet Tax-Exempt Bond Fund	3.25%	3.01%	2.47%	2.61%	2.58%	2.05%	2.93%	2.60%	3.41%	3.51%	2.78%	2.87%
PKSFX Virtus KAR Small-Cap Core Fund	13.32%	14.30%	4.07%	4.12%	6.65%	12.05%	7.45%	4.03%	4.33%	0.17%	5.69%	19.83%

Frequently Asked Questions

Can I hold both HXBIX and PKSFX in my portfolio?

HXBIX and PKSFX have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.