NAINX vs. PXQSX

Last updated Jun 26, 2026

NAINX (Virtus Tactical Allocation Fund) and PXQSX (Virtus KAR Small-Cap Value Fund) are both mutual funds - NAINX is a Diversified Portfolio fund managed by Virtus, while PXQSX is a Small Cap Growth Equities fund managed by Virtus. Over the past 10 years, NAINX returned 8.24%/yr vs 8.42%/yr for PXQSX. A 0.75 correlation means they provide meaningful diversification when combined. NAINX charges 1.00%/yr vs 0.96%/yr for PXQSX.

Performance

NAINX vs. PXQSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Virtus Tactical Allocation Fund (NAINX) and Virtus KAR Small-Cap Value Fund (PXQSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NAINX achieves a 0.17% return, which is significantly lower than PXQSX's 7.52% return. Both investments have delivered pretty close results over the past 10 years, with NAINX having a 8.24% annualized return and PXQSX not far ahead at 8.42%.

NAINX

• 1D: 0.42%
• 1M: 0.44%
• YTD: 0.17%
• 6M: -0.45%
• 1Y: 0.58%
• 3Y*: 9.96%
• 5Y*: 1.71%
• 10Y*: 8.24%

PXQSX

• 1D: 1.73%
• 1M: 3.78%
• YTD: 7.52%
• 6M: 5.01%
• 1Y: 4.86%
• 3Y*: 9.24%
• 5Y*: 0.97%
• 10Y*: 8.42%

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

NAINX vs. PXQSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NAINX Virtus Tactical Allocation Fund	0.17%	6.83%	14.00%	22.38%	-28.48%	6.63%	31.47%	28.49%	-7.19%	19.84%
PXQSX Virtus KAR Small-Cap Value Fund	7.52%	-4.50%	9.63%	19.10%	-24.29%	19.50%	28.16%	24.87%	-15.95%	18.90%

Correlation

The correlation between NAINX and PXQSX is 0.58, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.58
Correlation (3Y) Calculated over the trailing 3-year period	0.64
Correlation (5Y) Calculated over the trailing 5-year period	0.72
Correlation (10Y) Calculated over the trailing 10-year period	0.69
Correlation (All Time) Calculated using the full available price history since Jun 29, 2006	0.75

The correlation between NAINX and PXQSX shifts across timeframes, from 0.58 (1 year) to 0.75 (all time), reflecting how their relationship changes across market environments.

Return for Risk

NAINX vs. PXQSX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments 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

PXQSX

PXQSX Risk / Return Rank: 5
PXQSX Sharpe Ratio Rank: 5
PXQSX Sortino Ratio Rank: 5
PXQSX Omega Ratio Rank: 5
PXQSX Calmar Ratio Rank: 5
PXQSX Martin Ratio Rank: 5

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.

NAINX vs. PXQSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Virtus Tactical Allocation Fund (NAINX) and Virtus KAR Small-Cap Value Fund (PXQSX). 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	PXQSX	Difference
Sharpe ratio: Return per unit of total volatility	0.04	0.21	-0.16
Sortino ratio: Return per unit of downside risk	0.13	0.44	-0.32
Omega ratio: Gain probability vs. loss probability	1.01	1.05	-0.03
Calmar ratio: Return relative to maximum drawdown	0.04	0.26	-0.22
Martin ratio: Return relative to average drawdown	0.13	0.53	-0.40

NAINX vs. PXQSX - Sharpe Ratio Comparison

The current NAINX Sharpe Ratio is 0.04, which is lower than the PXQSX Sharpe Ratio of 0.21. The chart below compares the historical Sharpe Ratios of NAINX and PXQSX, 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. PXQSX - Drawdown Comparison

The maximum NAINX drawdown since its inception was -36.50%, smaller than the maximum PXQSX drawdown of -55.56%. Use the drawdown chart below to compare losses from any high point for NAINX and PXQSX.

Drawdown Indicators

	NAINX	PXQSX	Difference
Max Drawdown Largest peak-to-trough decline	-36.50%	-55.56%	+19.06%
Max Drawdown (1Y) Largest decline over 1 year	-10.19%	-13.25%	+3.06%
Max Drawdown (3Y) Largest decline over 3 years	-11.79%	-22.87%	+11.08%
Max Drawdown (5Y) Largest decline over 5 years	-36.50%	-31.49%	-5.01%
Max Drawdown (10Y) Largest decline over 10 years	-36.50%	-37.65%	+1.15%
Current Drawdown Current decline from peak	-2.10%	-7.60%	+5.50%
Average Drawdown Average peak-to-trough decline	-5.27%	-10.29%	+5.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.11%	6.48%	-3.37%

Volatility

NAINX vs. PXQSX - Volatility Comparison

The current volatility for Virtus Tactical Allocation Fund (NAINX) is 4.28%, while Virtus KAR Small-Cap Value Fund (PXQSX) has a volatility of 4.59%. This indicates that NAINX experiences smaller price fluctuations and is considered to be less risky than PXQSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NAINX	PXQSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.28%	4.59%	-0.31%
Volatility (6M) Calculated over the trailing 6-month period	7.90%	12.59%	-4.69%
Volatility (1Y) Calculated over the trailing 1-year period	9.48%	16.90%	-7.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.78%	20.25%	-6.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.31%	20.50%	-7.19%

NAINX vs. PXQSX - Expense Ratio Comparison

NAINX has a 1.00% expense ratio, which is higher than PXQSX's 0.96% expense ratio.

Dividends

NAINX vs. PXQSX - Dividend Comparison

NAINX's dividend yield for the trailing twelve months is around 16.02%, more than PXQSX's 5.40% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NAINX Virtus Tactical Allocation Fund	16.02%	15.87%	13.38%	1.94%	7.34%	7.54%	2.06%	2.24%	4.41%	2.61%	10.78%	7.34%
PXQSX Virtus KAR Small-Cap Value Fund	5.40%	5.81%	4.90%	2.99%	3.37%	1.76%	0.82%	0.80%	2.54%	5.32%	8.89%	7.58%

Frequently Asked Questions

Can I hold both NAINX and PXQSX in my portfolio?

NAINX and PXQSX have a correlation of 0.58, 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 PXQSX?

PXQSX has higher volatility (4.59%) compared to NAINX (4.28%). In terms of maximum drawdown, NAINX dropped -36.50% vs PXQSX's -55.56%.

Which has better risk-adjusted returns?

PXQSX currently has the higher Sharpe Ratio (0.21 vs 0.04), 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.