MERFX vs. PDIAX
Compare and contrast key facts about The Merger Fund (MERFX) and Virtus KAR Equity Income Fund (PDIAX).
MERFX is managed by Virtus. It was launched on Jan 30, 1989. PDIAX is managed by Virtus. It was launched on Sep 25, 1997.
Performance
MERFX vs. PDIAX - Performance Comparison
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MERFX vs. PDIAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MERFX The Merger Fund | 0.46% | 8.11% | 3.27% | 4.17% | 0.71% | -0.19% | 4.87% | 5.96% | 7.68% | 2.39% |
PDIAX Virtus KAR Equity Income Fund | 1.27% | 13.45% | 9.10% | 1.08% | -2.58% | 17.04% | 14.51% | 28.11% | -12.69% | 22.45% |
Returns By Period
In the year-to-date period, MERFX achieves a 0.46% return, which is significantly lower than PDIAX's 1.27% return. Over the past 10 years, MERFX has underperformed PDIAX with an annualized return of 3.88%, while PDIAX has yielded a comparatively higher 9.54% annualized return.
MERFX
- 1D
- 0.00%
- 1M
- 0.00%
- YTD
- 0.46%
- 6M
- 1.84%
- 1Y
- 6.26%
- 3Y*
- 5.30%
- 5Y*
- 3.09%
- 10Y*
- 3.88%
PDIAX
- 1D
- 0.14%
- 1M
- -6.09%
- YTD
- 1.27%
- 6M
- 0.93%
- 1Y
- 11.90%
- 3Y*
- 8.66%
- 5Y*
- 6.17%
- 10Y*
- 9.54%
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MERFX vs. PDIAX - Expense Ratio Comparison
MERFX has a 1.50% expense ratio, which is higher than PDIAX's 1.20% expense ratio.
Return for Risk
MERFX vs. PDIAX — Risk / Return Rank
MERFX
PDIAX
MERFX vs. PDIAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for The Merger Fund (MERFX) and Virtus KAR Equity Income Fund (PDIAX). 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 | PDIAX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 4.24 | 1.01 | +3.23 |
Sortino ratioReturn per unit of downside risk | 8.05 | 1.51 | +6.54 |
Omega ratioGain probability vs. loss probability | 2.09 | 1.22 | +0.87 |
Calmar ratioReturn relative to maximum drawdown | 12.42 | 1.25 | +11.17 |
Martin ratioReturn relative to average drawdown | 58.81 | 6.48 | +52.33 |
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 | PDIAX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 4.24 | 1.01 | +3.23 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.90 | 0.48 | +0.42 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.03 | 0.57 | +0.47 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.68 | 0.40 | +0.28 |
Correlation
The correlation between MERFX and PDIAX is 0.49, 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
MERFX vs. PDIAX - Dividend Comparison
MERFX's dividend yield for the trailing twelve months is around 7.38%, more than PDIAX's 6.80% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MERFX The Merger Fund | 7.38% | 7.42% | 3.24% | 2.59% | 3.50% | 0.27% | 3.31% | 1.34% | 4.52% | 0.59% | 0.32% | 1.25% |
PDIAX Virtus KAR Equity Income Fund | 6.80% | 6.52% | 2.88% | 2.71% | 5.83% | 4.16% | 35.18% | 0.95% | 1.20% | 15.53% | 3.60% | 19.74% |
Drawdowns
MERFX vs. PDIAX - Drawdown Comparison
The maximum MERFX drawdown since its inception was -20.82%, smaller than the maximum PDIAX drawdown of -53.27%. Use the drawdown chart below to compare losses from any high point for MERFX and PDIAX.
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Drawdown Indicators
| MERFX | PDIAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.82% | -53.27% | +32.45% |
Max Drawdown (1Y)Largest decline over 1 year | -0.52% | -9.70% | +9.18% |
Max Drawdown (5Y)Largest decline over 5 years | -5.95% | -16.21% | +10.26% |
Max Drawdown (10Y)Largest decline over 10 years | -9.35% | -35.26% | +25.91% |
Current DrawdownCurrent decline from peak | -0.17% | -6.09% | +5.92% |
Average DrawdownAverage peak-to-trough decline | -2.68% | -8.42% | +5.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.11% | 1.87% | -1.76% |
Volatility
MERFX vs. PDIAX - Volatility Comparison
The current volatility for The Merger Fund (MERFX) is 0.47%, while Virtus KAR Equity Income Fund (PDIAX) has a volatility of 3.34%. This indicates that MERFX experiences smaller price fluctuations and is considered to be less risky than PDIAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MERFX | PDIAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.47% | 3.34% | -2.87% |
Volatility (6M)Calculated over the trailing 6-month period | 1.00% | 6.45% | -5.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.53% | 13.01% | -11.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.45% | 12.98% | -9.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.76% | 16.91% | -13.15% |