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MERIX vs. WCFRX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

MERIX vs. WCFRX

Last updated Jun 23, 2026

MERIX (The Merger Fund Class I) and WCFRX (Virtus Westchester Credit Event Fund) are both Event Driven funds. Over the past 5 years, MERIX returned 3.29%/yr vs 3.17%/yr for WCFRX. At a 0.33 correlation, their price movements are largely independent. MERIX charges 1.32%/yr vs 1.90%/yr for WCFRX.

Performance

MERIX vs. WCFRX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in The Merger Fund Class I (MERIX) and Virtus Westchester Credit Event Fund (WCFRX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

The year-to-date returns for both stocks are quite close, with MERIX having a 1.24% return and WCFRX slightly lower at 1.18%.

MERIX

1D
0.17%
1M
0.12%
YTD
1.24%
6M
1.36%
1Y
4.97%
3Y*
6.35%
5Y*
3.29%
10Y*
4.21%

WCFRX

1D
0.07%
1M
0.61%
YTD
1.18%
6M
1.27%
1Y
3.15%
3Y*
5.62%
5Y*
3.17%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

MERIX vs. WCFRX - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
MERIX
The Merger Fund Class I		1.24%8.41%3.54%4.51%1.01%0.10%5.14%6.32%7.98%
WCFRX
Virtus Westchester Credit Event Fund		1.18%4.37%6.83%9.23%-5.28%7.08%16.26%12.60%-3.23%

Correlation

The correlation between MERIX and WCFRX is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.11

Correlation (3Y)
Calculated over the trailing 3-year period

0.18

Correlation (5Y)
Calculated over the trailing 5-year period

0.26

Correlation (All Time)
Calculated using the full available price history since Jan 2, 2018

0.33

Over the past year, the correlation between MERIX and WCFRX has dropped to 0.11 - well below their long-term average of 0.33, suggesting their price drivers have been diverging.

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The Merger Fund Class I

Virtus Westchester Credit Event Fund

Often compared with MERIX:
MERIX vs. ARBFXMERIX vs. VOOMERIX vs. QLDMERIX vs. BILPXMERIX vs. EMAYXMERIX vs. SPYMERIX vs. EVDAX
Often compared with WCFRX:
WCFRX vs. RCTIXWCFRX vs. PSTAXWCFRX vs. EMAYXWCFRX vs. AEDNXWCFRX vs. GDLWCFRX vs. ARBNXWCFRX vs. PKSFX

Return for Risk

MERIX vs. WCFRX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
MERIX
MERIX Risk / Return Rank: 9898
Overall Rank
MERIX Sharpe Ratio Rank: 9797
Sharpe Ratio Rank
MERIX Sortino Ratio Rank: 9898
Sortino Ratio Rank
MERIX Omega Ratio Rank: 9696
Omega Ratio Rank
MERIX Calmar Ratio Rank: 9999
Calmar Ratio Rank
MERIX Martin Ratio Rank: 9999
Martin Ratio Rank
WCFRX
WCFRX Risk / Return Rank: 4949
Overall Rank
WCFRX Sharpe Ratio Rank: 4949
Sharpe Ratio Rank
WCFRX Sortino Ratio Rank: 5959
Sortino Ratio Rank
WCFRX Omega Ratio Rank: 5757
Omega Ratio Rank
WCFRX Calmar Ratio Rank: 4848
Calmar Ratio Rank
WCFRX Martin Ratio Rank: 3030
Martin Ratio Rank
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.

MERIX vs. WCFRX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for The Merger Fund Class I (MERIX) and Virtus Westchester Credit Event Fund (WCFRX). 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.

MERIXWCFRXDifference
Sharpe ratioReturn per unit of total volatility
3.32
1.91

+1.41

Sortino ratioReturn per unit of downside risk
6.16
2.94

+3.22

Omega ratioGain probability vs. loss probability

1.80

1.38

+0.42

Calmar ratioReturn relative to maximum drawdown

10.67

2.51

+8.16

Martin ratioReturn relative to average drawdown

45.87

6.39

+39.49

MERIX vs. WCFRX - Sharpe Ratio Comparison

The current MERIX Sharpe Ratio is 3.32, which is higher than the WCFRX Sharpe Ratio of 1.91. The chart below compares the historical Sharpe Ratios of MERIX and WCFRX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

MERIX vs. WCFRX - Drawdown Comparison

The maximum MERIX drawdown since its inception was -9.33%, smaller than the maximum WCFRX drawdown of -23.56%. Use the drawdown chart below to compare losses from any high point for MERIX and WCFRX.

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Drawdown Indicators

MERIXWCFRXDifference

Max Drawdown

Largest peak-to-trough decline

-9.33%

-23.56%

+14.23%

Max Drawdown (1Y)

Largest decline over 1 year

-0.47%

-1.29%

+0.82%

Max Drawdown (3Y)

Largest decline over 3 years

-3.85%

-6.09%

+2.24%

Max Drawdown (5Y)

Largest decline over 5 years

-4.72%

-9.57%

+4.85%

Max Drawdown (10Y)

Largest decline over 10 years

-9.33%

—

—

Current Drawdown

Current decline from peak

-0.12%

0.00%

-0.12%

Average Drawdown

Average peak-to-trough decline

-1.02%

-4.26%

+3.24%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.11%

0.51%

-0.40%

Volatility

MERIX vs. WCFRX - Volatility Comparison

The Merger Fund Class I (MERIX) has a higher volatility of 0.70% compared to Virtus Westchester Credit Event Fund (WCFRX) at 0.56%. This indicates that MERIX's price experiences larger fluctuations and is considered to be riskier than WCFRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

MERIXWCFRXDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.70%

0.56%

+0.14%

Volatility (6M)

Calculated over the trailing 6-month period

1.08%

1.41%

-0.33%

Volatility (1Y)

Calculated over the trailing 1-year period

1.51%

1.70%

-0.19%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

3.64%

4.15%

-0.51%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

3.84%

6.56%

-2.72%

MERIX vs. WCFRX - Expense Ratio Comparison

MERIX has a 1.32% expense ratio, which is lower than WCFRX's 1.90% expense ratio.

Dividends

MERIX vs. WCFRX - Dividend Comparison

MERIX's dividend yield for the trailing twelve months is around 7.86%, more than WCFRX's 7.46% yield.

PositionTTM20252024202320222021202020192018201720162015
MERIX
The Merger Fund Class I		7.86%7.95%3.75%2.91%4.75%0.27%3.64%1.34%4.85%0.98%0.89%1.63%
WCFRX
Virtus Westchester Credit Event Fund		7.46%5.82%5.33%4.15%0.21%13.79%0.90%2.99%1.43%0.00%0.00%0.00%

Frequently Asked Questions

MERIX and WCFRX have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

MERIX has higher volatility (0.70%) compared to WCFRX (0.56%). In terms of maximum drawdown, MERIX dropped -9.33% vs WCFRX's -23.56%.

MERIX currently has the higher Sharpe Ratio (3.32 vs 1.91), 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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