HXBIX vs. VKSIX

Last updated Jun 24, 2026

HXBIX (Virtus Newfleet Tax-Exempt Bond Fund) and VKSIX (Virtus KAR Small-Mid Cap Core Fund) are both mutual funds - HXBIX is a Municipal Bonds fund managed by Virtus, while VKSIX is a Mid Cap Growth Equities fund managed by Virtus. Over the past 5 years, HXBIX returned 0.45%/yr vs -0.39%/yr for VKSIX. At a 0.06 correlation, their price movements are largely independent. HXBIX charges 0.60%/yr vs 1.02%/yr for VKSIX.

Performance

HXBIX vs. VKSIX - 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-Mid Cap Core Fund (VKSIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HXBIX achieves a 1.09% return, which is significantly higher than VKSIX's -7.39% return.

HXBIX

• 1D: 0.00%
• 1M: 1.10%
• YTD: 1.09%
• 6M: 1.45%
• 1Y: 5.80%
• 3Y*: 2.97%
• 5Y*: 0.45%
• 10Y*: 1.62%

VKSIX

• 1D: -0.61%
• 1M: -1.38%
• YTD: -7.39%
• 6M: -8.94%
• 1Y: -10.32%
• 3Y*: 2.57%
• 5Y*: -0.39%
• 10Y*: —

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

HXBIX vs. VKSIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
HXBIX Virtus Newfleet Tax-Exempt Bond Fund	1.09%	4.22%	0.71%	4.72%	-7.76%	0.72%	4.27%	6.81%	2.01%
VKSIX Virtus KAR Small-Mid Cap Core Fund	-7.39%	-4.36%	9.07%	23.61%	-23.83%	19.54%	33.45%	38.81%	-6.68%

Correlation

The correlation between HXBIX and VKSIX is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.14
Correlation (3Y) Calculated over the trailing 3-year period	0.13
Correlation (5Y) Calculated over the trailing 5-year period	0.11
Correlation (All Time) Calculated using the full available price history since Mar 22, 2018	0.06

Return for Risk

HXBIX vs. VKSIX — Risk / Return Rank

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

HXBIX

HXBIX Risk / Return Rank: 68
HXBIX Sharpe Ratio Rank: 82
HXBIX Sortino Ratio Rank: 87
HXBIX Omega Ratio Rank: 93
HXBIX Calmar Ratio Rank: 41
HXBIX Martin Ratio Rank: 37

VKSIX

VKSIX Risk / Return Rank: 1
VKSIX Sharpe Ratio Rank: 1
VKSIX Sortino Ratio Rank: 1
VKSIX Omega Ratio Rank: 1
VKSIX Calmar Ratio Rank: 1
VKSIX Martin Ratio Rank: 1

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.

HXBIX vs. VKSIX - 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-Mid Cap Core Fund (VKSIX). 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	VKSIX	Difference
Sharpe ratio: Return per unit of total volatility	2.49	-0.58	+3.07
Sortino ratio: Return per unit of downside risk	3.83	-0.76	+4.59
Omega ratio: Gain probability vs. loss probability	1.67	0.92	+0.75
Calmar ratio: Return relative to maximum drawdown	2.30	-0.55	+2.85
Martin ratio: Return relative to average drawdown	7.65	-1.09	+8.74

HXBIX vs. VKSIX - Sharpe Ratio Comparison

The current HXBIX Sharpe Ratio is 2.49, which is higher than the VKSIX Sharpe Ratio of -0.58. The chart below compares the historical Sharpe Ratios of HXBIX and VKSIX, 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

HXBIX vs. VKSIX - Drawdown Comparison

The maximum HXBIX drawdown since its inception was -13.93%, smaller than the maximum VKSIX drawdown of -35.59%. Use the drawdown chart below to compare losses from any high point for HXBIX and VKSIX.

Drawdown Indicators

	HXBIX	VKSIX	Difference
Max Drawdown Largest peak-to-trough decline	-13.93%	-35.59%	+21.66%
Max Drawdown (1Y) Largest decline over 1 year	-2.58%	-16.70%	+14.12%
Max Drawdown (3Y) Largest decline over 3 years	-4.30%	-20.29%	+15.99%
Max Drawdown (5Y) Largest decline over 5 years	-11.98%	-32.49%	+20.51%
Max Drawdown (10Y) Largest decline over 10 years	-11.98%	—	—
Current Drawdown Current decline from peak	-0.72%	-18.34%	+17.62%
Average Drawdown Average peak-to-trough decline	-1.86%	-8.92%	+7.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.77%	8.41%	-7.64%

Volatility

HXBIX vs. VKSIX - Volatility Comparison

The current volatility for Virtus Newfleet Tax-Exempt Bond Fund (HXBIX) is 1.34%, while Virtus KAR Small-Mid Cap Core Fund (VKSIX) has a volatility of 4.36%. This indicates that HXBIX experiences smaller price fluctuations and is considered to be less risky than VKSIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HXBIX	VKSIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.34%	4.36%	-3.02%
Volatility (6M) Calculated over the trailing 6-month period	1.99%	12.11%	-10.12%
Volatility (1Y) Calculated over the trailing 1-year period	2.39%	15.84%	-13.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.07%	19.23%	-16.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.29%	20.95%	-17.66%

HXBIX vs. VKSIX - Expense Ratio Comparison

HXBIX has a 0.60% expense ratio, which is lower than VKSIX's 1.02% expense ratio.

Dividends

HXBIX vs. VKSIX - Dividend Comparison

HXBIX's dividend yield for the trailing twelve months is around 3.76%, more than VKSIX's 0.37% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HXBIX Virtus Newfleet Tax-Exempt Bond Fund	3.76%	3.01%	2.47%	2.61%	2.58%	2.05%	2.93%	2.60%	3.41%	3.51%	2.78%	2.87%
VKSIX Virtus KAR Small-Mid Cap Core Fund	0.37%	0.34%	0.43%	0.00%	0.00%	1.13%	0.01%	0.00%	1.47%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both HXBIX and VKSIX in my portfolio?

HXBIX and VKSIX 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.

Which is riskier, HXBIX or VKSIX?

VKSIX has higher volatility (4.36%) compared to HXBIX (1.34%). In terms of maximum drawdown, HXBIX dropped -13.93% vs VKSIX's -35.59%.

Which has better risk-adjusted returns?

HXBIX currently has the higher Sharpe Ratio (2.49 vs -0.58), 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.