NCZ vs. PKSFX

Last updated Apr 1, 2026

Compare and contrast key facts about Virtus Convertible and Income Fund II (NCZ) and Virtus KAR Small-Cap Core Fund (PKSFX).

NCZ is managed by Virtus. It was launched on Jul 31, 2003. PKSFX is managed by Virtus. It was launched on Oct 18, 1996.

Performance

NCZ vs. PKSFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Virtus Convertible and Income Fund II (NCZ) and Virtus KAR Small-Cap Core Fund (PKSFX). The values are adjusted to include any dividend payments, if applicable.

NCZ vs. PKSFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NCZ Virtus Convertible and Income Fund II	-0.21%	23.23%	18.40%	17.75%	-35.93%	9.24%	11.04%	27.19%	-18.66%	24.89%
PKSFX Virtus KAR Small-Cap Core Fund	-0.51%	-2.58%	13.67%	32.32%	-10.77%	19.03%	21.38%	40.21%	-1.99%	34.98%

Returns By Period

In the year-to-date period, NCZ achieves a -0.21% return, which is significantly higher than PKSFX's -0.51% return. Over the past 10 years, NCZ has underperformed PKSFX with an annualized return of 8.23%, while PKSFX has yielded a comparatively higher 14.75% annualized 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%

PKSFX

• 1D: -0.21%
• 1M: -7.55%
• YTD: -0.51%
• 6M: -1.30%
• 1Y: 2.15%
• 3Y*: 9.64%
• 5Y*: 7.73%
• 10Y*: 14.75%

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

NCZ vs. PKSFX - Expense Ratio Comparison

NCZ has a 0.03% expense ratio, which is lower than PKSFX's 1.00% expense ratio.

PKSFX

Virtus KAR Small-Cap Core Fund

NCZ

Virtus Convertible and Income Fund II

Return for Risk

NCZ vs. PKSFX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

NCZ

NCZ Risk / Return Rank: 84
NCZ Sharpe Ratio Rank: 82
NCZ Sortino Ratio Rank: 82
NCZ Omega Ratio Rank: 78
NCZ Calmar Ratio Rank: 89
NCZ Martin Ratio Rank: 89

PKSFX

PKSFX Risk / Return Rank: 8
PKSFX Sharpe Ratio Rank: 8
PKSFX Sortino Ratio Rank: 9
PKSFX Omega Ratio Rank: 8
PKSFX Calmar Ratio Rank: 8
PKSFX Martin Ratio Rank: 7

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.

NCZ vs. PKSFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Virtus Convertible and Income Fund II (NCZ) and Virtus KAR Small-Cap Core Fund (PKSFX). 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	PKSFX	Difference
Sharpe ratio Return per unit of total volatility	1.56	0.14	+1.42
Sortino ratio Return per unit of downside risk	2.12	0.35	+1.77
Omega ratio Gain probability vs. loss probability	1.31	1.04	+0.26
Calmar ratio Return relative to maximum drawdown	2.43	0.09	+2.34
Martin ratio Return relative to average drawdown	10.00	0.19	+9.80
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NCZ vs. PKSFX - Sharpe Ratio Comparison

The current NCZ Sharpe Ratio is 1.56, which is higher than the PKSFX Sharpe Ratio of 0.14. The chart below compares the historical Sharpe Ratios of NCZ and PKSFX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	NCZ	PKSFX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.56	0.14	+1.42
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.17	0.43	-0.26
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.34	0.79	-0.45
Sharpe Ratio (All Time) Calculated using the full available price history	0.20	0.56	-0.36

Correlation

The correlation between NCZ and PKSFX is 0.47, 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. PKSFX - Dividend Comparison

NCZ's dividend yield for the trailing twelve months is around 10.74%, less than PKSFX's 14.37% 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%
PKSFX Virtus KAR Small-Cap Core Fund	14.37%	14.30%	4.07%	4.12%	6.65%	12.05%	7.45%	4.03%	4.33%	0.17%	5.69%	19.83%

Drawdowns

NCZ vs. PKSFX - Drawdown Comparison

The maximum NCZ drawdown since its inception was -79.48%, which is greater than PKSFX's maximum drawdown of -54.46%. Use the drawdown chart below to compare losses from any high point for NCZ and PKSFX.

Drawdown Indicators

	NCZ	PKSFX	Difference
Max Drawdown Largest peak-to-trough decline	-79.48%	-54.46%	-25.02%
Max Drawdown (1Y) Largest decline over 1 year	-11.94%	-11.21%	-0.73%
Max Drawdown (5Y) Largest decline over 5 years	-43.93%	-22.02%	-21.91%
Max Drawdown (10Y) Largest decline over 10 years	-56.08%	-33.45%	-22.63%
Current Drawdown Current decline from peak	-9.16%	-11.25%	+2.09%
Average Drawdown Average peak-to-trough decline	-14.45%	-7.17%	-7.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.90%	4.92%	-2.02%

Volatility

NCZ vs. PKSFX - Volatility Comparison

Virtus Convertible and Income Fund II (NCZ) has a higher volatility of 7.73% compared to Virtus KAR Small-Cap Core Fund (PKSFX) at 4.01%. This indicates that NCZ's price experiences larger fluctuations and is considered to be riskier than PKSFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NCZ	PKSFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.73%	4.01%	+3.72%
Volatility (6M) Calculated over the trailing 6-month period	12.64%	10.93%	+1.71%
Volatility (1Y) Calculated over the trailing 1-year period	18.85%	18.88%	-0.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.18%	17.88%	+3.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.20%	18.78%	+5.42%