MERFX vs. VIKSX
MERFX (The Merger Fund) and VIKSX (Virtus KAR Small-Mid Cap Growth Fund) are both mutual funds - MERFX is a Event Driven fund managed by Virtus, while VIKSX is a Mid Cap Growth Equities fund managed by Virtus. Over the past 5 years, MERFX returned 3.70%/yr vs -1.61%/yr for VIKSX. Their 0.35 correlation means their historical movements had little consistent relationship. MERFX charges 1.50%/yr vs 1.06%/yr for VIKSX.
Performance
MERFX vs. VIKSX - Performance Comparison
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Returns By Period
In the year-to-date period, MERFX achieves a 1.51% return, which is significantly higher than VIKSX's 0.29% return.
MERFX
- 1D
- 0.00%
- 1M
- 0.06%
- 6M
- 1.45%
- YTD
- 1.51%
- 1Y
- 3.75%
- 3Y*
- 5.92%
- 5Y*
- 3.70%
- 10Y*
- 3.94%
- ALL TIME*
- 4.25%
VIKSX
- 1D
- -0.97%
- 1M
- -2.75%
- 6M
- 1.18%
- YTD
- 0.29%
- 1Y
- -7.40%
- 3Y*
- 2.42%
- 5Y*
- -1.61%
- 10Y*
- —
- ALL TIME*
- 0.62%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
MERFX The Merger Fund | $0.00 | $0.00 | $0.00 |
| $0.00 | $0.00 | $0.00 |
MERFX vs. VIKSX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
MERFX The Merger Fund | 1.51% | 8.11% | 3.27% | 4.17% | 0.71% | -0.19% | 0.48% |
VIKSX Virtus KAR Small-Mid Cap Growth Fund | 0.29% | -8.33% | 12.39% | 18.92% | -22.54% | 5.38% | 3.23% |
Correlation
The correlation between MERFX and VIKSX is 0.30, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.30 |
Correlation (3Y) Balances recent behavior with more history. | 0.26 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.35 |
Correlation (All Time) Calculated using the full available price history since Dec 14, 2020 | 0.35 |
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Return for Risk
MERFX vs. VIKSX — Risk / Return Rank
MERFX
VIKSX
MERFX vs. VIKSX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for The Merger Fund (MERFX) and Virtus KAR Small-Mid Cap Growth Fund (VIKSX). 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.
| MERFX | VIKSX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.01 | ||
| Sortino ratioReturn per unit of downside risk | +4.81 | ||
| Omega ratioGain probability vs. loss probability | 1.53 | 0.92 | +0.60 |
| Calmar ratioReturn relative to maximum drawdown | 7.15 | -0.45 | +7.60 |
| Martin ratioReturn relative to average drawdown | 27.92 | -0.87 | +28.79 |
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Drawdowns
MERFX vs. VIKSX - Drawdown Comparison
The maximum MERFX drawdown since its inception was -20.82%, smaller than the maximum VIKSX drawdown of -34.44%. Use the drawdown chart below to compare losses from any high point for MERFX and VIKSX.
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Drawdown Indicators
| MERFX | VIKSX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.82% | -34.44% | +13.62% |
Max Drawdown (1Y)Largest decline over 1 year | -0.52% | -21.39% | +20.87% |
Max Drawdown (3Y)Largest decline over 3 years | -3.36% | -26.02% | +22.66% |
Max Drawdown (5Y)Largest decline over 5 years | -3.56% | -34.44% | +30.88% |
Max Drawdown (10Y)Largest decline over 10 years | -9.35% | — | — |
Current DrawdownCurrent decline from peak | -0.23% | -16.04% | +15.81% |
Average DrawdownAverage peak-to-trough decline | -2.65% | -13.87% | +11.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.13% | 11.07% | -10.94% |
Volatility
MERFX vs. VIKSX - Volatility Comparison
The current volatility for The Merger Fund (MERFX) is 0.55%, while Virtus KAR Small-Mid Cap Growth Fund (VIKSX) has a volatility of 4.82%. This indicates that MERFX experiences smaller price fluctuations and is considered to be less risky than VIKSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MERFX | VIKSX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.55% | 4.82% | -4.27% |
Volatility (6M)Calculated over the trailing 6-month period | 1.23% | 13.10% | -11.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.52% | 16.95% | -15.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.36% | 18.98% | -15.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.75% | 18.79% | -15.04% |
MERFX vs. VIKSX - Expense Ratio Comparison
MERFX has a 1.50% expense ratio, which is higher than VIKSX's 1.06% expense ratio.
Dividends
MERFX vs. VIKSX - Dividend Comparison
MERFX's dividend yield for the trailing twelve months is around 7.31%, while VIKSX has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MERFX The Merger Fund | 7.31% | 7.42% | 3.24% | 2.59% | 3.50% | 0.27% | 3.31% | 1.34% | 4.52% | 0.59% | 0.32% | 1.25% |
VIKSX Virtus KAR Small-Mid Cap Growth Fund | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
MERFX and VIKSX have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VIKSX has higher volatility (4.82%) compared to MERFX (0.55%). In terms of maximum drawdown, MERFX dropped -20.82% vs VIKSX's -34.44%.
MERFX currently has the higher Sharpe Ratio (2.44 vs -0.57), 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.
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