LOCFX vs. ANNPX

Last updated Jun 24, 2026

LOCFX (Lord Abbett Convertible Fund Class F3) and ANNPX (Virtus Convertible Fund) are both Convertible Bonds funds. Over the past 5 years, LOCFX returned 6.92%/yr vs 8.58%/yr for ANNPX. Their correlation of 0.92 suggests significant overlap in exposure. LOCFX charges 0.82%/yr vs 0.71%/yr for ANNPX.

Performance

LOCFX vs. ANNPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Lord Abbett Convertible Fund Class F3 (LOCFX) and Virtus Convertible Fund (ANNPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with LOCFX having a 21.35% return and ANNPX slightly higher at 22.00%.

LOCFX

• 1D: 0.00%
• 1M: 2.36%
• YTD: 21.35%
• 6M: 19.62%
• 1Y: 37.80%
• 3Y*: 20.91%
• 5Y*: 6.92%
• 10Y*: —

ANNPX

• 1D: -0.09%
• 1M: 3.37%
• YTD: 22.00%
• 6M: 20.42%
• 1Y: 43.75%
• 3Y*: 21.08%
• 5Y*: 8.58%
• 10Y*: 14.85%

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

LOCFX vs. ANNPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
LOCFX Lord Abbett Convertible Fund Class F3	21.35%	22.43%	14.00%	7.30%	-23.12%	1.40%	64.47%	25.07%	-6.42%	10.04%
ANNPX Virtus Convertible Fund	22.00%	22.50%	14.13%	8.39%	-18.65%	4.96%	55.99%	26.45%	2.76%	9.91%

Correlation

The correlation between LOCFX and ANNPX is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.96
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (All Time) Calculated using the full available price history since Apr 4, 2017	0.92

The correlation between LOCFX and ANNPX has been stable across timeframes, ranging from 0.92 to 0.96 - a consistent structural relationship.

Return for Risk

LOCFX vs. ANNPX — Risk / Return Rank

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

LOCFX

LOCFX Risk / Return Rank: 82
LOCFX Sharpe Ratio Rank: 82
LOCFX Sortino Ratio Rank: 71
LOCFX Omega Ratio Rank: 70
LOCFX Calmar Ratio Rank: 95
LOCFX Martin Ratio Rank: 94

ANNPX

ANNPX Risk / Return Rank: 92
ANNPX Sharpe Ratio Rank: 95
ANNPX Sortino Ratio Rank: 87
ANNPX Omega Ratio Rank: 84
ANNPX Calmar Ratio Rank: 97
ANNPX Martin Ratio Rank: 97

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.

LOCFX vs. ANNPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Lord Abbett Convertible Fund Class F3 (LOCFX) and Virtus Convertible Fund (ANNPX). 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.

	LOCFX	ANNPX	Difference
Sharpe ratio: Return per unit of total volatility	2.47	3.02	-0.54
Sortino ratio: Return per unit of downside risk	3.21	3.85	-0.64
Omega ratio: Gain probability vs. loss probability	1.43	1.52	-0.10
Calmar ratio: Return relative to maximum drawdown	5.50	6.22	-0.72
Martin ratio: Return relative to average drawdown	19.15	25.93	-6.78

LOCFX vs. ANNPX - Sharpe Ratio Comparison

The current LOCFX Sharpe Ratio is 2.47, which is comparable to the ANNPX Sharpe Ratio of 3.02. The chart below compares the historical Sharpe Ratios of LOCFX and ANNPX, 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

LOCFX vs. ANNPX - Drawdown Comparison

The maximum LOCFX drawdown since its inception was -33.29%, smaller than the maximum ANNPX drawdown of -55.61%. Use the drawdown chart below to compare losses from any high point for LOCFX and ANNPX.

Drawdown Indicators

	LOCFX	ANNPX	Difference
Max Drawdown Largest peak-to-trough decline	-33.29%	-55.61%	+22.32%
Max Drawdown (1Y) Largest decline over 1 year	-7.02%	-7.15%	+0.13%
Max Drawdown (3Y) Largest decline over 3 years	-12.09%	-13.67%	+1.58%
Max Drawdown (5Y) Largest decline over 5 years	-30.60%	-26.85%	-3.75%
Max Drawdown (10Y) Largest decline over 10 years	—	-27.36%	—
Current Drawdown Current decline from peak	-0.90%	-0.09%	-0.81%
Average Drawdown Average peak-to-trough decline	-11.16%	-17.43%	+6.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.01%	1.71%	+0.30%

Volatility

LOCFX vs. ANNPX - Volatility Comparison

Lord Abbett Convertible Fund Class F3 (LOCFX) has a higher volatility of 6.03% compared to Virtus Convertible Fund (ANNPX) at 5.57%. This indicates that LOCFX's price experiences larger fluctuations and is considered to be riskier than ANNPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LOCFX	ANNPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.03%	5.57%	+0.46%
Volatility (6M) Calculated over the trailing 6-month period	13.00%	12.07%	+0.93%
Volatility (1Y) Calculated over the trailing 1-year period	15.66%	14.78%	+0.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.17%	13.00%	+0.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.08%	13.67%	+0.41%

LOCFX vs. ANNPX - Expense Ratio Comparison

LOCFX has a 0.82% expense ratio, which is higher than ANNPX's 0.71% expense ratio.

Dividends

LOCFX vs. ANNPX - Dividend Comparison

LOCFX's dividend yield for the trailing twelve months is around 1.27%, less than ANNPX's 9.04% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ANNPX Virtus Convertible Fund	9.04%	11.32%	2.31%	2.56%	1.55%	20.74%	6.94%	5.12%	18.79%	23.47%	2.88%	10.63%
LOCFX Lord Abbett Convertible Fund Class F3	1.27%	1.86%	2.29%	2.06%	2.72%	18.36%	16.20%	8.75%	5.02%	2.08%	0.00%	0.00%

Frequently Asked Questions

Can I hold both LOCFX and ANNPX in my portfolio?

With a correlation of 0.96, LOCFX and ANNPX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, LOCFX or ANNPX?

LOCFX has higher volatility (6.03%) compared to ANNPX (5.57%). In terms of maximum drawdown, LOCFX dropped -33.29% vs ANNPX's -55.61%.

Which has better risk-adjusted returns?

ANNPX currently has the higher Sharpe Ratio (3.02 vs 2.47), 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.