NCZ vs. PBXIX
Compare and contrast key facts about Virtus Convertible and Income Fund II (NCZ) and Rational/Pier 88 Convertible Securities Fund (PBXIX).
NCZ is managed by Virtus. It was launched on Jul 31, 2003. PBXIX is managed by Rational Funds. It was launched on Dec 5, 2019.
Performance
NCZ vs. PBXIX - Performance Comparison
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NCZ vs. PBXIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
NCZ Virtus Convertible and Income Fund II | -0.21% | 23.23% | 18.40% | 17.75% | -35.93% | 9.24% | 11.04% | 3.12% |
PBXIX Rational/Pier 88 Convertible Securities Fund | -2.92% | 2.12% | 8.23% | 3.28% | -10.82% | 10.23% | 17.09% | 1.70% |
Returns By Period
In the year-to-date period, NCZ achieves a -0.21% return, which is significantly higher than PBXIX's -2.92% return.
NCZ
- 1D
- 3.15%
- 1M
- -8.11%
- YTD
- -0.21%
- 6M
- 3.11%
- 1Y
- 29.32%
- 3Y*
- 16.67%
- 5Y*
- 3.59%
- 10Y*
- 8.23%
PBXIX
- 1D
- -0.29%
- 1M
- -4.31%
- YTD
- -2.92%
- 6M
- -2.93%
- 1Y
- 1.01%
- 3Y*
- 3.97%
- 5Y*
- 1.30%
- 10Y*
- —
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NCZ vs. PBXIX - Expense Ratio Comparison
NCZ has a 0.03% expense ratio, which is lower than PBXIX's 0.99% expense ratio.
Return for Risk
NCZ vs. PBXIX — Risk / Return Rank
NCZ
PBXIX
NCZ vs. PBXIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Virtus Convertible and Income Fund II (NCZ) and Rational/Pier 88 Convertible Securities Fund (PBXIX). 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.
| NCZ | PBXIX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.56 | 0.12 | +1.44 |
Sortino ratioReturn per unit of downside risk | 2.12 | 0.22 | +1.90 |
Omega ratioGain probability vs. loss probability | 1.31 | 1.03 | +0.28 |
Calmar ratioReturn relative to maximum drawdown | 2.43 | 0.09 | +2.34 |
Martin ratioReturn relative to average drawdown | 10.00 | 0.32 | +9.68 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| NCZ | PBXIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.56 | 0.12 | +1.44 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.17 | 0.15 | +0.02 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.34 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.20 | 0.37 | -0.17 |
Correlation
The correlation between NCZ and PBXIX is 0.66, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
NCZ vs. PBXIX - Dividend Comparison
NCZ's dividend yield for the trailing twelve months is around 10.74%, more than PBXIX's 6.05% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NCZ Virtus Convertible and Income Fund II | 10.74% | 10.45% | 11.50% | 12.84% | 15.62% | 8.82% | 9.28% | 11.28% | 15.33% | 13.80% | 12.08% | 18.02% |
PBXIX Rational/Pier 88 Convertible Securities Fund | 6.05% | 3.48% | 2.14% | 2.22% | 2.25% | 7.56% | 1.77% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
NCZ vs. PBXIX - Drawdown Comparison
The maximum NCZ drawdown since its inception was -79.48%, which is greater than PBXIX's maximum drawdown of -24.03%. Use the drawdown chart below to compare losses from any high point for NCZ and PBXIX.
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Drawdown Indicators
| NCZ | PBXIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -79.48% | -24.03% | -55.45% |
Max Drawdown (1Y)Largest decline over 1 year | -11.94% | -5.74% | -6.20% |
Max Drawdown (5Y)Largest decline over 5 years | -43.93% | -15.57% | -28.36% |
Max Drawdown (10Y)Largest decline over 10 years | -56.08% | — | — |
Current DrawdownCurrent decline from peak | -9.16% | -5.16% | -4.00% |
Average DrawdownAverage peak-to-trough decline | -14.45% | -5.65% | -8.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.90% | 1.54% | +1.36% |
Volatility
NCZ vs. PBXIX - Volatility Comparison
Virtus Convertible and Income Fund II (NCZ) has a higher volatility of 7.73% compared to Rational/Pier 88 Convertible Securities Fund (PBXIX) at 2.16%. This indicates that NCZ's price experiences larger fluctuations and is considered to be riskier than PBXIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NCZ | PBXIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.73% | 2.16% | +5.57% |
Volatility (6M)Calculated over the trailing 6-month period | 12.64% | 4.96% | +7.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.85% | 8.50% | +10.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.18% | 8.63% | +12.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.20% | 11.57% | +12.63% |