MERFX vs. MERIX
Compare and contrast key facts about The Merger Fund (MERFX) and The Merger Fund Class I (MERIX).
MERFX is managed by Virtus. It was launched on Jan 30, 1989. MERIX is managed by Virtus Investment Partners. It was launched on Aug 1, 2013.
Performance
MERFX vs. MERIX - Performance Comparison
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MERFX vs. MERIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MERFX The Merger Fund | 0.70% | 8.11% | 3.27% | 4.17% | 0.71% | -0.19% | 4.87% | 5.96% | 7.68% | 2.39% |
MERIX The Merger Fund Class I | 0.82% | 8.41% | 3.54% | 4.51% | 1.01% | 0.10% | 5.14% | 6.32% | 7.98% | 2.74% |
Returns By Period
In the year-to-date period, MERFX achieves a 0.70% return, which is significantly lower than MERIX's 0.82% return. Over the past 10 years, MERFX has underperformed MERIX with an annualized return of 3.90%, while MERIX has yielded a comparatively higher 4.21% annualized return.
MERFX
- 1D
- 0.23%
- 1M
- 0.06%
- YTD
- 0.70%
- 6M
- 1.91%
- 1Y
- 6.44%
- 3Y*
- 5.38%
- 5Y*
- 3.06%
- 10Y*
- 3.90%
MERIX
- 1D
- 0.23%
- 1M
- 0.12%
- YTD
- 0.82%
- 6M
- 2.12%
- 1Y
- 6.84%
- 3Y*
- 5.71%
- 5Y*
- 3.37%
- 10Y*
- 4.21%
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MERFX vs. MERIX - Expense Ratio Comparison
MERFX has a 1.50% expense ratio, which is higher than MERIX's 1.32% expense ratio.
Return for Risk
MERFX vs. MERIX — Risk / Return Rank
MERFX
MERIX
MERFX vs. MERIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for The Merger Fund (MERFX) and The Merger Fund Class I (MERIX). 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.
| MERFX | MERIX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 4.26 | 4.53 | -0.27 |
Sortino ratioReturn per unit of downside risk | 8.13 | 8.87 | -0.74 |
Omega ratioGain probability vs. loss probability | 2.10 | 2.19 | -0.09 |
Calmar ratioReturn relative to maximum drawdown | 12.89 | 15.02 | -2.13 |
Martin ratioReturn relative to average drawdown | 61.05 | 65.88 | -4.83 |
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
| MERFX | MERIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 4.26 | 4.53 | -0.27 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.89 | 0.93 | -0.04 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.04 | 1.10 | -0.05 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.68 | 0.95 | -0.26 |
Correlation
The correlation between MERFX and MERIX is 0.96, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
MERFX vs. MERIX - Dividend Comparison
MERFX's dividend yield for the trailing twelve months is around 7.37%, less than MERIX's 7.89% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MERFX The Merger Fund | 7.37% | 7.42% | 3.24% | 2.59% | 3.50% | 0.27% | 3.31% | 1.34% | 4.52% | 0.59% | 0.32% | 1.25% |
MERIX The Merger Fund Class I | 7.89% | 7.95% | 3.75% | 2.91% | 4.75% | 0.27% | 3.64% | 1.34% | 4.85% | 0.98% | 0.89% | 1.63% |
Drawdowns
MERFX vs. MERIX - Drawdown Comparison
The maximum MERFX drawdown since its inception was -20.82%, which is greater than MERIX's maximum drawdown of -9.33%. Use the drawdown chart below to compare losses from any high point for MERFX and MERIX.
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Drawdown Indicators
| MERFX | MERIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.82% | -9.33% | -11.49% |
Max Drawdown (1Y)Largest decline over 1 year | -0.52% | -0.47% | -0.05% |
Max Drawdown (5Y)Largest decline over 5 years | -5.95% | -5.68% | -0.27% |
Max Drawdown (10Y)Largest decline over 10 years | -9.35% | -9.33% | -0.02% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -2.68% | -1.04% | -1.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.11% | 0.11% | 0.00% |
Volatility
MERFX vs. MERIX - Volatility Comparison
The Merger Fund (MERFX) and The Merger Fund Class I (MERIX) have volatilities of 0.49% and 0.47%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MERFX | MERIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.49% | 0.47% | +0.02% |
Volatility (6M)Calculated over the trailing 6-month period | 0.97% | 0.93% | +0.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.54% | 1.52% | +0.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.45% | 3.65% | -0.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.76% | 3.86% | -0.10% |