NCZ vs. FCVSX
NCZ (Virtus Convertible and Income Fund II) and FCVSX (Fidelity Convertible Securities Fund) are both Convertible Bonds funds. Over the past 10 years, NCZ returned 7.87%/yr vs 11.61%/yr for FCVSX. Their 0.54 correlation means they have sometimes moved together and sometimes differently. NCZ charges 0.03%/yr vs 0.67%/yr for FCVSX.
Performance
NCZ vs. FCVSX - Performance Comparison
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Returns By Period
In the year-to-date period, NCZ achieves a 19.30% return, which is significantly higher than FCVSX's 14.46% return. Over the past 10 years, NCZ has underperformed FCVSX with an annualized return of 7.87%, while FCVSX has yielded a comparatively higher 11.61% annualized return.
NCZ
- 1D
- 0.52%
- 1M
- -0.26%
- 6M
- 12.27%
- YTD
- 19.30%
- 1Y
- 31.74%
- 3Y*
- 21.90%
- 5Y*
- 5.30%
- 10Y*
- 7.87%
- ALL TIME*
- 6.08%
FCVSX
- 1D
- -0.02%
- 1M
- -3.29%
- 6M
- 8.54%
- YTD
- 14.46%
- 1Y
- 15.36%
- 3Y*
- 12.82%
- 5Y*
- 6.49%
- 10Y*
- 11.61%
- ALL TIME*
- 9.98%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $712.76K | $1.20M | $1.15M |
NCZ vs. FCVSX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NCZ Virtus Convertible and Income Fund II | 19.30% | 23.23% | 18.40% | 17.75% | -35.93% | 9.24% | 11.04% | 27.19% | -18.66% | 24.89% |
FCVSX Fidelity Convertible Securities Fund | 14.46% | 8.52% | 13.91% | 11.42% | -15.33% | 9.95% | 42.52% | 28.58% | -1.29% | 9.03% |
Correlation
The correlation between NCZ and FCVSX is 0.73, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.73 |
Correlation (3Y) Balances recent behavior with more history. | 0.67 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.69 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.64 |
Correlation (All Time) Calculated using the full available price history since Jul 29, 2003 | 0.54 |
The correlation between NCZ and FCVSX shifts across timeframes, from 0.54 (all time) to 0.73 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
NCZ vs. FCVSX — Risk / Return Rank
NCZ
FCVSX
NCZ vs. FCVSX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Virtus Convertible and Income Fund II (NCZ) and Fidelity Convertible Securities Fund (FCVSX). 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.
| NCZ | FCVSX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.12 | ||
| Sortino ratioReturn per unit of downside risk | +1.49 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.14 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 2.67 | 1.21 | +1.46 |
| Martin ratioReturn relative to average drawdown | 11.07 | 3.31 | +7.76 |
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Drawdowns
NCZ vs. FCVSX - Drawdown Comparison
The maximum NCZ drawdown since its inception was -79.48%, which is greater than FCVSX's maximum drawdown of -58.76%. Use the drawdown chart below to compare losses from any high point for NCZ and FCVSX.
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Drawdown Indicators
| NCZ | FCVSX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -79.48% | -58.76% | -20.72% |
Max Drawdown (1Y)Largest decline over 1 year | -11.94% | -11.39% | -0.55% |
Max Drawdown (3Y)Largest decline over 3 years | -19.54% | -14.56% | -4.98% |
Max Drawdown (5Y)Largest decline over 5 years | -43.93% | -24.18% | -19.75% |
Max Drawdown (10Y)Largest decline over 10 years | -56.08% | -25.08% | -31.00% |
Current DrawdownCurrent decline from peak | -1.64% | -8.72% | +7.08% |
Average DrawdownAverage peak-to-trough decline | -14.26% | -7.21% | -7.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.87% | 4.16% | -1.29% |
Volatility
NCZ vs. FCVSX - Volatility Comparison
Virtus Convertible and Income Fund II (NCZ) has a higher volatility of 6.33% compared to Fidelity Convertible Securities Fund (FCVSX) at 5.98%. This indicates that NCZ's price experiences larger fluctuations and is considered to be riskier than FCVSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NCZ | FCVSX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.33% | 5.98% | +0.35% |
Volatility (6M)Calculated over the trailing 6-month period | 14.20% | 13.94% | +0.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.45% | 19.35% | -1.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.47% | 14.33% | +7.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.31% | 14.07% | +10.24% |
NCZ vs. FCVSX - Expense Ratio Comparison
NCZ has a 0.03% expense ratio, which is lower than FCVSX's 0.67% expense ratio.
Dividends
NCZ vs. FCVSX - Dividend Comparison
NCZ's dividend yield for the trailing twelve months is around 9.27%, more than FCVSX's 1.43% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FCVSX Fidelity Convertible Securities Fund | 1.43% | 2.21% | 7.47% | 2.13% | 3.78% | 20.64% | 10.75% | 3.28% | 9.86% | 4.11% | 4.90% | 10.41% |
NCZ Virtus Convertible and Income Fund II | 9.27% | 10.45% | 11.50% | 12.84% | 15.62% | 8.82% | 9.28% | 11.28% | 15.33% | 13.80% | 12.08% | 18.02% |
Frequently Asked Questions
NCZ and FCVSX have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NCZ has higher volatility (6.33%) compared to FCVSX (5.98%). In terms of maximum drawdown, NCZ dropped -79.48% vs FCVSX's -58.76%.
NCZ currently has the higher Sharpe Ratio (1.83 vs 0.71), 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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