NFJEX vs. TOWFX

Last updated Apr 1, 2026

Compare and contrast key facts about Virtus NFJ Dividend Value Fund (NFJEX) and Towpath Focus Fund (TOWFX).

NFJEX is managed by Allianz. It was launched on May 8, 2000. TOWFX is managed by Oelschlager Investments. It was launched on Dec 31, 2019.

Performance

NFJEX vs. TOWFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Virtus NFJ Dividend Value Fund (NFJEX) and Towpath Focus Fund (TOWFX). The values are adjusted to include any dividend payments, if applicable.

NFJEX vs. TOWFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
NFJEX Virtus NFJ Dividend Value Fund	1.08%	8.46%	5.29%	19.79%	-13.63%	28.90%	-2.13%
TOWFX Towpath Focus Fund	2.10%	23.51%	13.22%	12.33%	-2.06%	26.52%	19.46%

Returns By Period

In the year-to-date period, NFJEX achieves a 1.08% return, which is significantly lower than TOWFX's 2.10% return.

NFJEX

• 1D: -0.59%
• 1M: -4.59%
• YTD: 1.08%
• 6M: 3.47%
• 1Y: 9.90%
• 3Y*: 10.37%
• 5Y*: 7.35%
• 10Y*: 8.23%

TOWFX

• 1D: 0.15%
• 1M: -4.47%
• YTD: 2.10%
• 6M: 9.07%
• 1Y: 20.28%
• 3Y*: 17.02%
• 5Y*: 11.64%
• 10Y*: —

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

NFJEX vs. TOWFX - Expense Ratio Comparison

NFJEX has a 0.70% expense ratio, which is lower than TOWFX's 1.11% expense ratio.

TOWFX

Towpath Focus Fund

NFJEX

Virtus NFJ Dividend Value Fund

Return for Risk

NFJEX vs. TOWFX — Risk / Return Rank

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

NFJEX

NFJEX Risk / Return Rank: 26
NFJEX Sharpe Ratio Rank: 26
NFJEX Sortino Ratio Rank: 26
NFJEX Omega Ratio Rank: 25
NFJEX Calmar Ratio Rank: 25
NFJEX Martin Ratio Rank: 27

TOWFX

TOWFX Risk / Return Rank: 87
TOWFX Sharpe Ratio Rank: 88
TOWFX Sortino Ratio Rank: 88
TOWFX Omega Ratio Rank: 85
TOWFX Calmar Ratio Rank: 84
TOWFX Martin Ratio Rank: 91

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.

NFJEX vs. TOWFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Virtus NFJ Dividend Value Fund (NFJEX) and Towpath Focus Fund (TOWFX). 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.

	NFJEX	TOWFX	Difference
Sharpe ratio Return per unit of total volatility	0.65	1.76	-1.10
Sortino ratio Return per unit of downside risk	1.00	2.42	-1.42
Omega ratio Gain probability vs. loss probability	1.14	1.35	-0.21
Calmar ratio Return relative to maximum drawdown	0.75	2.07	-1.32
Martin ratio Return relative to average drawdown	2.90	10.75	-7.85
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NFJEX vs. TOWFX - Sharpe Ratio Comparison

The current NFJEX Sharpe Ratio is 0.65, which is lower than the TOWFX Sharpe Ratio of 1.76. The chart below compares the historical Sharpe Ratios of NFJEX and TOWFX, 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

	NFJEX	TOWFX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.65	1.76	-1.10
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.45	0.01	+0.44
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.46	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.40	0.02	+0.38

Correlation

The correlation between NFJEX and TOWFX is 0.83, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

NFJEX vs. TOWFX - Dividend Comparison

NFJEX's dividend yield for the trailing twelve months is around 12.37%, more than TOWFX's 1.79% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NFJEX Virtus NFJ Dividend Value Fund	12.37%	12.61%	3.51%	14.16%	19.01%	6.43%	1.96%	14.20%	27.33%	27.35%	6.05%	2.77%
TOWFX Towpath Focus Fund	1.79%	1.82%	1.49%	2.81%	2.05%	5.69%	5.94%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

NFJEX vs. TOWFX - Drawdown Comparison

The maximum NFJEX drawdown since its inception was -61.94%, smaller than the maximum TOWFX drawdown of -96.18%. Use the drawdown chart below to compare losses from any high point for NFJEX and TOWFX.

Drawdown Indicators

	NFJEX	TOWFX	Difference
Max Drawdown Largest peak-to-trough decline	-61.94%	-96.18%	+34.24%
Max Drawdown (1Y) Largest decline over 1 year	-13.12%	-9.39%	-3.73%
Max Drawdown (5Y) Largest decline over 5 years	-23.29%	-96.18%	+72.89%
Max Drawdown (10Y) Largest decline over 10 years	-39.25%	—	—
Current Drawdown Current decline from peak	-7.11%	-94.95%	+87.84%
Average Drawdown Average peak-to-trough decline	-9.67%	-21.04%	+11.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.38%	1.81%	+1.57%

Volatility

NFJEX vs. TOWFX - Volatility Comparison

Virtus NFJ Dividend Value Fund (NFJEX) has a higher volatility of 3.67% compared to Towpath Focus Fund (TOWFX) at 2.60%. This indicates that NFJEX's price experiences larger fluctuations and is considered to be riskier than TOWFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NFJEX	TOWFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.67%	2.60%	+1.07%
Volatility (6M) Calculated over the trailing 6-month period	9.62%	6.60%	+3.02%
Volatility (1Y) Calculated over the trailing 1-year period	17.07%	11.95%	+5.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.38%	1,084.26%	-1,067.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.11%	971.53%	-953.42%