PDIAX vs. TANDX

Last updated Jun 4, 2026

PDIAX (Virtus KAR Equity Income Fund) and TANDX (Castle Tandem Fund) are both Large Cap Blend Equities funds. Over the past 5 years, PDIAX returned 6.96%/yr vs 1.63%/yr for TANDX. A 0.78 correlation means they provide meaningful diversification when combined. PDIAX charges 1.20%/yr vs 1.59%/yr for TANDX.

Performance

PDIAX vs. TANDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Virtus KAR Equity Income Fund (PDIAX) and Castle Tandem Fund (TANDX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PDIAX achieves a 11.50% return, which is significantly higher than TANDX's -13.18% return.

PDIAX

• 1D: 1.22%
• 1M: 3.32%
• YTD: 11.50%
• 6M: 10.93%
• 1Y: 17.78%
• 3Y*: 13.34%
• 5Y*: 6.96%
• 10Y*: 10.43%

TANDX

• 1D: -0.91%
• 1M: -3.85%
• YTD: -13.18%
• 6M: -13.13%
• 1Y: -15.71%
• 3Y*: 1.15%
• 5Y*: 1.63%
• 10Y*: —

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

PDIAX vs. TANDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
PDIAX Virtus KAR Equity Income Fund	11.50%	13.45%	9.10%	1.08%	-2.58%	17.04%	14.51%	14.68%
TANDX Castle Tandem Fund	-13.18%	3.67%	7.66%	8.42%	-7.87%	19.03%	13.39%	12.57%

Correlation

The correlation between PDIAX and TANDX is 0.62, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.62
Correlation (3Y) Calculated over the trailing 3-year period	0.69
Correlation (5Y) Calculated over the trailing 5-year period	0.76
Correlation (All Time) Calculated using the full available price history since Mar 25, 2019	0.78

The correlation between PDIAX and TANDX shifts across timeframes, from 0.62 (1 year) to 0.78 (all time), reflecting how their relationship changes across market environments.

Return for Risk

PDIAX vs. TANDX — Risk / Return Rank

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

PDIAX

PDIAX Risk / Return Rank: 53
PDIAX Sharpe Ratio Rank: 46
PDIAX Sortino Ratio Rank: 48
PDIAX Omega Ratio Rank: 44
PDIAX Calmar Ratio Rank: 60
PDIAX Martin Ratio Rank: 64

TANDX

TANDX Risk / Return Rank: 0
TANDX Sharpe Ratio Rank: 0
TANDX Sortino Ratio Rank: 0
TANDX Omega Ratio Rank: 0
TANDX Calmar Ratio Rank: 0
TANDX Martin Ratio Rank: 0

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.

PDIAX vs. TANDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Virtus KAR Equity Income Fund (PDIAX) and Castle Tandem Fund (TANDX). 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.

	PDIAX	TANDX	Difference
Sharpe ratio: Return per unit of total volatility	1.99	-1.70	+3.70
Sortino ratio: Return per unit of downside risk	2.93	-2.29	+5.22
Omega ratio: Gain probability vs. loss probability	1.36	0.74	+0.62
Calmar ratio: Return relative to maximum drawdown	2.98	-0.98	+3.95
Martin ratio: Return relative to average drawdown	12.57	-2.30	+14.87
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PDIAX vs. TANDX - Sharpe Ratio Comparison

The current PDIAX Sharpe Ratio is 1.99, which is higher than the TANDX Sharpe Ratio of -1.70. The chart below compares the historical Sharpe Ratios of PDIAX and TANDX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	PDIAX	TANDX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.99	-1.70	+3.70
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.54	0.00	+0.53
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.62	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.42	0.01	+0.41

Drawdowns

PDIAX vs. TANDX - Drawdown Comparison

The maximum PDIAX drawdown since its inception was -53.27%, smaller than the maximum TANDX drawdown of -93.93%. Use the drawdown chart below to compare losses from any high point for PDIAX and TANDX.

Drawdown Indicators

	PDIAX	TANDX	Difference
Max Drawdown Largest peak-to-trough decline	-53.27%	-93.93%	+40.66%
Max Drawdown (1Y) Largest decline over 1 year	-6.22%	-16.13%	+9.91%
Max Drawdown (3Y) Largest decline over 3 years	-12.04%	-93.93%	+81.89%
Max Drawdown (5Y) Largest decline over 5 years	-16.21%	-93.93%	+77.72%
Max Drawdown (10Y) Largest decline over 10 years	-35.26%	—	—
Current Drawdown Current decline from peak	0.00%	-93.93%	+93.93%
Average Drawdown Average peak-to-trough decline	-8.38%	-20.25%	+11.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.47%	6.85%	-5.38%

Volatility

PDIAX vs. TANDX - Volatility Comparison

Virtus KAR Equity Income Fund (PDIAX) has a higher volatility of 2.96% compared to Castle Tandem Fund (TANDX) at 2.52%. This indicates that PDIAX's price experiences larger fluctuations and is considered to be riskier than TANDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PDIAX	TANDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.96%	2.52%	+0.44%
Volatility (6M) Calculated over the trailing 6-month period	7.21%	7.18%	+0.03%
Volatility (1Y) Calculated over the trailing 1-year period	9.30%	9.26%	+0.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.01%	595.57%	-582.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.92%	496.55%	-479.63%

PDIAX vs. TANDX - Expense Ratio Comparison

PDIAX has a 1.20% expense ratio, which is lower than TANDX's 1.59% expense ratio.

Dividends

PDIAX vs. TANDX - Dividend Comparison

PDIAX's dividend yield for the trailing twelve months is around 6.18%, less than TANDX's 7.11% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PDIAX Virtus KAR Equity Income Fund	6.18%	6.52%	2.88%	2.71%	5.83%	4.16%	35.18%	0.95%	1.20%	15.53%	3.60%	19.74%
TANDX Castle Tandem Fund	7.11%	6.17%	3.71%	2.10%	1.48%	4.57%	0.33%	0.37%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PDIAX and TANDX in my portfolio?

PDIAX and TANDX have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PDIAX or TANDX?

PDIAX has higher volatility (2.96%) compared to TANDX (2.52%). In terms of maximum drawdown, PDIAX dropped -53.27% vs TANDX's -93.93%.

Which has better risk-adjusted returns?

PDIAX currently has the higher Sharpe Ratio (1.99 vs -1.70), 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.