NCV vs. BLW
NCV (Virtus Convertible and Income Fund) is Preferred Stock/Convertible Bonds fund managed by Virtus, while BLW (BlackRock Limited Duration Income Trust) is a stock. Over the past 10 years, NCV returned 8.60%/yr vs 6.58%/yr for BLW. At a 0.36 correlation, their price movements are largely independent.
Performance
NCV vs. BLW - Performance Comparison
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Returns By Period
In the year-to-date period, NCV achieves a 20.10% return, which is significantly higher than BLW's -5.76% return. Over the past 10 years, NCV has outperformed BLW with an annualized return of 8.60%, while BLW has yielded a comparatively lower 6.58% annualized return.
NCV
- 1D
- -0.35%
- 1M
- 0.86%
- YTD
- 20.10%
- 6M
- 17.46%
- 1Y
- 37.90%
- 3Y*
- 22.61%
- 5Y*
- 4.68%
- 10Y*
- 8.60%
BLW
- 1D
- 0.24%
- 1M
- -0.37%
- YTD
- -5.76%
- 6M
- -5.90%
- 1Y
- -3.53%
- 3Y*
- 8.85%
- 5Y*
- 2.68%
- 10Y*
- 6.58%
NCV vs. BLW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NCV Virtus Convertible and Income Fund | 20.10% | 22.57% | 16.18% | 12.66% | -34.02% | 10.68% | 11.64% | 24.12% | -17.25% | 23.24% |
BLW BlackRock Limited Duration Income Trust | -5.76% | 7.17% | 11.06% | 17.29% | -15.92% | 13.52% | 5.36% | 31.08% | -10.22% | 11.53% |
Correlation
The correlation between NCV and BLW is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.41 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.37 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.46 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.42 |
Correlation (All Time) Calculated using the full available price history since Jul 29, 2003 | 0.36 |
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Return for Risk
NCV vs. BLW — Risk / Return Rank
NCV
BLW
NCV vs. BLW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Virtus Convertible and Income Fund (NCV) and BlackRock Limited Duration Income Trust (BLW). 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.
| NCV | BLW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.93 | ||
| Sortino ratioReturn per unit of downside risk | +3.85 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 0.92 | +0.51 |
| Calmar ratioReturn relative to maximum drawdown | 3.35 | -0.32 | +3.66 |
| Martin ratioReturn relative to average drawdown | 13.37 | -0.89 | +14.26 |
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Drawdowns
NCV vs. BLW - Drawdown Comparison
The maximum NCV drawdown since its inception was -78.94%, which is greater than BLW's maximum drawdown of -44.13%. Use the drawdown chart below to compare losses from any high point for NCV and BLW.
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Drawdown Indicators
| NCV | BLW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -78.94% | -44.13% | -34.81% |
Max Drawdown (1Y)Largest decline over 1 year | -11.38% | -11.19% | -0.19% |
Max Drawdown (3Y)Largest decline over 3 years | -17.80% | -11.19% | -6.61% |
Max Drawdown (5Y)Largest decline over 5 years | -44.60% | -26.30% | -18.30% |
Max Drawdown (10Y)Largest decline over 10 years | -56.18% | -41.85% | -14.33% |
Current DrawdownCurrent decline from peak | -1.48% | -7.77% | +6.29% |
Average DrawdownAverage peak-to-trough decline | -13.86% | -6.04% | -7.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.84% | 3.99% | -1.15% |
Volatility
NCV vs. BLW - Volatility Comparison
Virtus Convertible and Income Fund (NCV) has a higher volatility of 3.98% compared to BlackRock Limited Duration Income Trust (BLW) at 2.00%. This indicates that NCV's price experiences larger fluctuations and is considered to be riskier than BLW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NCV | BLW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.98% | 2.00% | +1.98% |
Volatility (6M)Calculated over the trailing 6-month period | 12.54% | 7.04% | +5.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.32% | 8.02% | +7.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.62% | 12.32% | +8.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.85% | 14.59% | +10.26% |
Dividends
NCV vs. BLW - Dividend Comparison
NCV's dividend yield for the trailing twelve months is around 9.43%, less than BLW's 11.05% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BLW BlackRock Limited Duration Income Trust | 11.05% | 9.89% | 9.39% | 8.63% | 8.26% | 6.99% | 7.39% | 6.27% | 7.14% | 6.24% | 9.68% | 8.26% |
NCV Virtus Convertible and Income Fund | 9.43% | 10.77% | 11.76% | 12.86% | 15.00% | 8.75% | 9.41% | 11.61% | 15.03% | 11.10% | 12.23% | 17.69% |
Frequently Asked Questions
NCV and BLW have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NCV has higher volatility (3.98%) compared to BLW (2.00%). In terms of maximum drawdown, NCV dropped -78.94% vs BLW's -44.13%.
NCV currently has the higher Sharpe Ratio (2.49 vs -0.44), 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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