NAINX vs. PGUAX

Last updated Aug 1, 2026

NAINX (Virtus Tactical Allocation Fund) and PGUAX (Virtus Duff & Phelps Global Infrastructure Fund) are both mutual funds - NAINX is a Diversified Portfolio fund managed by Virtus, while PGUAX is a Infrastructure Equities fund managed by Virtus. Over the past 10 years, NAINX returned 7.65%/yr vs 7.30%/yr for PGUAX. Their 0.65 correlation means they have sometimes moved together and sometimes differently. NAINX charges 1.00%/yr vs 1.27%/yr for PGUAX.

Performance

NAINX vs. PGUAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Virtus Tactical Allocation Fund (NAINX) and Virtus Duff & Phelps Global Infrastructure Fund (PGUAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NAINX achieves a -0.04% return, which is significantly lower than PGUAX's 12.48% return. Both investments have delivered pretty close results over the past 10 years, with NAINX having a 7.65% annualized return and PGUAX not far behind at 7.30%.

NAINX

• 1D: 0.73%
• 1M: -1.84%
• 6M: -0.45%
• YTD: -0.04%
• 1Y: 0.10%
• 3Y*: 8.14%
• 5Y*: 1.47%
• 10Y*: 7.65%
• ALL TIME*: 6.70%

PGUAX

• 1D: 0.42%
• 1M: -0.30%
• 6M: 7.62%
• YTD: 12.48%
• 1Y: 16.98%
• 3Y*: 12.31%
• 5Y*: 7.20%
• 10Y*: 7.30%
• ALL TIME*: 7.47%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
NAINX Virtus Tactical Allocation Fund	$0.00	$0.00	$0.00
PGUAX Virtus Duff & Phelps Global Infrastructure Fund	$0.00	$0.00	$0.00

NAINX vs. PGUAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NAINX Virtus Tactical Allocation Fund	-0.04%	6.83%	14.00%	22.38%	-28.48%	6.63%	31.47%	28.49%	-7.19%	19.84%
PGUAX Virtus Duff & Phelps Global Infrastructure Fund	12.48%	16.32%	9.06%	0.94%	-7.76%	13.58%	-0.53%	27.96%	-6.60%	17.80%

Correlation

The correlation between NAINX and PGUAX is 0.20, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.20
Correlation (3Y) Balances recent behavior with more history.	0.36
Correlation (5Y) Shows whether the relationship held over a longer period.	0.49
Correlation (10Y) Provides a long-term view across more market conditions.	0.51
Correlation (All Time) Calculated using the full available price history since Jan 4, 2005	0.65

Over the past year, the correlation between NAINX and PGUAX has dropped to 0.20 - well below their long-term average of 0.65, suggesting their price drivers have been diverging.

Return for Risk

NAINX vs. PGUAX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

NAINX

NAINX Risk / Return Rank: 4
NAINX Sharpe Ratio Rank: 4
NAINX Sortino Ratio Rank: 3
NAINX Omega Ratio Rank: 3
NAINX Calmar Ratio Rank: 4
NAINX Martin Ratio Rank: 4

PGUAX

PGUAX Risk / Return Rank: 62
PGUAX Sharpe Ratio Rank: 63
PGUAX Sortino Ratio Rank: 60
PGUAX Omega Ratio Rank: 57
PGUAX Calmar Ratio Rank: 76
PGUAX Martin Ratio Rank: 53

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

NAINX vs. PGUAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Virtus Tactical Allocation Fund (NAINX) and Virtus Duff & Phelps Global Infrastructure Fund (PGUAX). 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.

	NAINX	PGUAX	Difference
Sharpe ratio: Return per unit of total volatility	-0.09	1.58	-1.67
Sortino ratio: Return per unit of downside risk	-0.06	2.24	-2.30
Omega ratio: Gain probability vs. loss probability	0.99	1.28	-0.28
Calmar ratio: Return relative to maximum drawdown	-0.09	2.56	-2.64
Martin ratio: Return relative to average drawdown	-0.28	7.57	-7.85

NAINX vs. PGUAX - Sharpe Ratio Comparison

The current NAINX Sharpe Ratio is -0.09, which is lower than the PGUAX Sharpe Ratio of 1.58. The chart below compares the historical Sharpe Ratios of NAINX and PGUAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

NAINX vs. PGUAX - Drawdown Comparison

The maximum NAINX drawdown since its inception was -36.50%, smaller than the maximum PGUAX drawdown of -47.95%. Use the drawdown chart below to compare losses from any high point for NAINX and PGUAX.

Drawdown Indicators

	NAINX	PGUAX	Difference
Max Drawdown Largest peak-to-trough decline	-36.50%	-47.95%	+11.45%
Max Drawdown (1Y) Largest decline over 1 year	-10.19%	-6.78%	-3.41%
Max Drawdown (3Y) Largest decline over 3 years	-11.79%	-11.70%	-0.09%
Max Drawdown (5Y) Largest decline over 5 years	-36.50%	-24.20%	-12.30%
Max Drawdown (10Y) Largest decline over 10 years	-36.50%	-38.67%	+2.17%
Current Drawdown Current decline from peak	-2.30%	-1.70%	-0.60%
Average Drawdown Average peak-to-trough decline	-5.26%	-7.66%	+2.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.13%	2.29%	+0.84%

Volatility

NAINX vs. PGUAX - Volatility Comparison

The current volatility for Virtus Tactical Allocation Fund (NAINX) is 2.38%, while Virtus Duff & Phelps Global Infrastructure Fund (PGUAX) has a volatility of 3.41%. This indicates that NAINX experiences smaller price fluctuations and is considered to be less risky than PGUAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NAINX	PGUAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.38%	3.41%	-1.03%
Volatility (6M) Calculated over the trailing 6-month period	7.97%	9.08%	-1.11%
Volatility (1Y) Calculated over the trailing 1-year period	9.65%	10.99%	-1.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.78%	14.06%	-0.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.30%	16.31%	-3.01%

NAINX vs. PGUAX - Expense Ratio Comparison

NAINX has a 1.00% expense ratio, which is lower than PGUAX's 1.27% expense ratio.

Dividends

NAINX vs. PGUAX - Dividend Comparison

NAINX's dividend yield for the trailing twelve months is around 16.05%, more than PGUAX's 7.94% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NAINX Virtus Tactical Allocation Fund	16.05%	15.87%	13.38%	1.94%	7.34%	7.54%	2.06%	2.24%	4.41%	2.61%	10.78%	7.34%
PGUAX Virtus Duff & Phelps Global Infrastructure Fund	7.94%	8.72%	5.62%	2.44%	11.03%	6.05%	2.38%	4.88%	6.33%	2.97%	4.98%	10.23%

Frequently Asked Questions

Can I hold both NAINX and PGUAX in my portfolio?

NAINX and PGUAX have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NAINX or PGUAX?

PGUAX has higher volatility (3.41%) compared to NAINX (2.38%). In terms of maximum drawdown, NAINX dropped -36.50% vs PGUAX's -47.95%.

Which has better risk-adjusted returns?

PGUAX currently has the higher Sharpe Ratio (1.58 vs -0.09), 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.