MCIFX vs. NCZ
Compare and contrast key facts about Miller Convertible Bond Fund (MCIFX) and Virtus Convertible and Income Fund II (NCZ).
MCIFX is managed by Miller Investment. It was launched on Dec 26, 2007. NCZ is managed by Virtus. It was launched on Jul 31, 2003.
Performance
MCIFX vs. NCZ - Performance Comparison
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MCIFX vs. NCZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MCIFX Miller Convertible Bond Fund | 0.20% | 6.35% | 5.75% | 6.06% | -10.55% | 4.40% | 19.61% | 13.28% | -5.64% | 7.30% |
NCZ Virtus Convertible and Income Fund II | 2.62% | 23.23% | 18.40% | 17.75% | -35.93% | 9.24% | 11.04% | 27.19% | -18.66% | 24.89% |
Returns By Period
In the year-to-date period, MCIFX achieves a 0.20% return, which is significantly lower than NCZ's 2.62% return. Over the past 10 years, MCIFX has underperformed NCZ with an annualized return of 5.38%, while NCZ has yielded a comparatively higher 8.51% annualized return.
MCIFX
- 1D
- 0.24%
- 1M
- -2.07%
- YTD
- 0.20%
- 6M
- 1.48%
- 1Y
- 7.02%
- 3Y*
- 5.80%
- 5Y*
- 1.77%
- 10Y*
- 5.38%
NCZ
- 1D
- 0.73%
- 1M
- -4.40%
- YTD
- 2.62%
- 6M
- 5.04%
- 1Y
- 30.61%
- 3Y*
- 16.74%
- 5Y*
- 4.17%
- 10Y*
- 8.51%
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MCIFX vs. NCZ - Expense Ratio Comparison
MCIFX has a 0.97% expense ratio, which is higher than NCZ's 0.03% expense ratio.
Return for Risk
MCIFX vs. NCZ — Risk / Return Rank
MCIFX
NCZ
MCIFX vs. NCZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Miller Convertible Bond Fund (MCIFX) and Virtus Convertible and Income Fund II (NCZ). 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.
| MCIFX | NCZ | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.32 | 1.63 | -0.31 |
Sortino ratioReturn per unit of downside risk | 1.88 | 2.20 | -0.32 |
Omega ratioGain probability vs. loss probability | 1.25 | 1.32 | -0.07 |
Calmar ratioReturn relative to maximum drawdown | 1.61 | 2.58 | -0.97 |
Martin ratioReturn relative to average drawdown | 5.86 | 10.40 | -4.55 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| MCIFX | NCZ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.32 | 1.63 | -0.31 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.29 | 0.20 | +0.09 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.78 | 0.35 | +0.42 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.73 | 0.21 | +0.52 |
Correlation
The correlation between MCIFX and NCZ is 0.54, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
MCIFX vs. NCZ - Dividend Comparison
MCIFX's dividend yield for the trailing twelve months is around 4.86%, less than NCZ's 10.44% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MCIFX Miller Convertible Bond Fund | 4.86% | 4.10% | 4.12% | 3.55% | 3.99% | 7.69% | 3.43% | 2.96% | 5.31% | 5.59% | 2.45% | 2.46% |
NCZ Virtus Convertible and Income Fund II | 10.44% | 10.45% | 11.50% | 12.84% | 15.62% | 8.82% | 9.28% | 11.28% | 15.33% | 13.80% | 12.08% | 18.02% |
Drawdowns
MCIFX vs. NCZ - Drawdown Comparison
The maximum MCIFX drawdown since its inception was -29.19%, smaller than the maximum NCZ drawdown of -79.48%. Use the drawdown chart below to compare losses from any high point for MCIFX and NCZ.
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Drawdown Indicators
| MCIFX | NCZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.19% | -79.48% | +50.29% |
Max Drawdown (1Y)Largest decline over 1 year | -4.53% | -11.94% | +7.41% |
Max Drawdown (5Y)Largest decline over 5 years | -14.75% | -43.93% | +29.18% |
Max Drawdown (10Y)Largest decline over 10 years | -17.36% | -56.08% | +38.72% |
Current DrawdownCurrent decline from peak | -3.30% | -6.59% | +3.29% |
Average DrawdownAverage peak-to-trough decline | -3.91% | -14.45% | +10.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.24% | 2.96% | -1.72% |
Volatility
MCIFX vs. NCZ - Volatility Comparison
The current volatility for Miller Convertible Bond Fund (MCIFX) is 1.96%, while Virtus Convertible and Income Fund II (NCZ) has a volatility of 8.08%. This indicates that MCIFX experiences smaller price fluctuations and is considered to be less risky than NCZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MCIFX | NCZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.96% | 8.08% | -6.12% |
Volatility (6M)Calculated over the trailing 6-month period | 3.71% | 12.80% | -9.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.54% | 18.90% | -13.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.15% | 21.19% | -15.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.96% | 24.20% | -17.24% |