PDPAX vs. PXSGX

Last updated Aug 4, 2026

PDPAX (Virtus Duff & Phelps Real Asset Fund) and PXSGX (Virtus KAR Small-Cap Growth Fund) are both mutual funds - PDPAX is a Global Allocation fund managed by Virtus, while PXSGX is a Small Cap Growth Equities fund managed by Virtus. Over the past 10 years, PDPAX returned 7.12%/yr vs 10.25%/yr for PXSGX. Their 0.64 correlation means they have sometimes moved together and sometimes differently. PDPAX charges 0.81%/yr vs 1.07%/yr for PXSGX.

Performance

PDPAX vs. PXSGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Virtus Duff & Phelps Real Asset Fund (PDPAX) and Virtus KAR Small-Cap Growth Fund (PXSGX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PDPAX achieves a 12.69% return, which is significantly higher than PXSGX's -1.56% return. Over the past 10 years, PDPAX has underperformed PXSGX with an annualized return of 7.12%, while PXSGX has yielded a comparatively higher 10.25% annualized return.

PDPAX

• 1D: -0.28%
• 1M: 1.20%
• 6M: 8.03%
• YTD: 12.69%
• 1Y: 20.67%
• 3Y*: 13.51%
• 5Y*: 9.05%
• 10Y*: 7.12%
• ALL TIME*: 4.49%

PXSGX

• 1D: 0.12%
• 1M: -0.18%
• 6M: -4.70%
• YTD: -1.56%
• 1Y: -13.56%
• 3Y*: -2.84%
• 5Y*: -5.11%
• 10Y*: 10.25%
• ALL TIME*: 9.33%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
PDPAX Virtus Duff & Phelps Real Asset Fund	$0.00	$0.00	$0.00
PXSGX Virtus KAR Small-Cap Growth Fund	$0.00	$0.00	$0.00

PDPAX vs. PXSGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PDPAX Virtus Duff & Phelps Real Asset Fund	12.69%	15.90%	9.45%	4.73%	-2.66%	21.15%	-3.18%	16.84%	-9.35%	8.15%
PXSGX Virtus KAR Small-Cap Growth Fund	-1.56%	-22.97%	21.11%	20.27%	-30.04%	4.47%	43.46%	40.26%	9.05%	36.99%

Correlation

The correlation between PDPAX and PXSGX is 0.37, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.37
Correlation (3Y) Balances recent behavior with more history.	0.52
Correlation (5Y) Shows whether the relationship held over a longer period.	0.55
Correlation (10Y) Provides a long-term view across more market conditions.	0.54
Correlation (All Time) Calculated using the full available price history since Jun 29, 2006	0.64

Over the past year, the correlation between PDPAX and PXSGX has dropped to 0.37 - well below their long-term average of 0.64, suggesting their price drivers have been diverging.

Return for Risk

PDPAX vs. PXSGX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

PDPAX

PDPAX Risk / Return Rank: 83
PDPAX Sharpe Ratio Rank: 86
PDPAX Sortino Ratio Rank: 82
PDPAX Omega Ratio Rank: 81
PDPAX Calmar Ratio Rank: 83
PDPAX Martin Ratio Rank: 84

PXSGX

PXSGX Risk / Return Rank: 1
PXSGX Sharpe Ratio Rank: 1
PXSGX Sortino Ratio Rank: 1
PXSGX Omega Ratio Rank: 1
PXSGX Calmar Ratio Rank: 1
PXSGX Martin Ratio Rank: 1

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

PDPAX vs. PXSGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Virtus Duff & Phelps Real Asset Fund (PDPAX) and Virtus KAR Small-Cap Growth Fund (PXSGX). 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.

	PDPAX	PXSGX	Difference
Sharpe ratio: Return per unit of total volatility	2.14	-0.76	+2.90
Sortino ratio: Return per unit of downside risk	2.95	-1.05	+4.00
Omega ratio: Gain probability vs. loss probability	1.39	0.89	+0.49
Calmar ratio: Return relative to maximum drawdown	2.92	-0.54	+3.46
Martin ratio: Return relative to average drawdown	10.98	-0.89	+11.87

PDPAX vs. PXSGX - Sharpe Ratio Comparison

The current PDPAX Sharpe Ratio is 2.14, which is higher than the PXSGX Sharpe Ratio of -0.76. The chart below compares the historical Sharpe Ratios of PDPAX and PXSGX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

PDPAX vs. PXSGX - Drawdown Comparison

The maximum PDPAX drawdown since its inception was -43.40%, smaller than the maximum PXSGX drawdown of -53.72%. Use the drawdown chart below to compare losses from any high point for PDPAX and PXSGX.

Drawdown Indicators

	PDPAX	PXSGX	Difference
Max Drawdown Largest peak-to-trough decline	-43.40%	-53.72%	+10.32%
Max Drawdown (1Y) Largest decline over 1 year	-7.08%	-26.52%	+19.44%
Max Drawdown (3Y) Largest decline over 3 years	-10.66%	-42.49%	+31.83%
Max Drawdown (5Y) Largest decline over 5 years	-18.87%	-42.49%	+23.62%
Max Drawdown (10Y) Largest decline over 10 years	-32.24%	-42.49%	+10.25%
Current Drawdown Current decline from peak	-1.44%	-35.05%	+33.61%
Average Drawdown Average peak-to-trough decline	-7.57%	-11.96%	+4.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.88%	16.12%	-14.24%

Volatility

PDPAX vs. PXSGX - Volatility Comparison

The current volatility for Virtus Duff & Phelps Real Asset Fund (PDPAX) is 2.37%, while Virtus KAR Small-Cap Growth Fund (PXSGX) has a volatility of 6.10%. This indicates that PDPAX experiences smaller price fluctuations and is considered to be less risky than PXSGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PDPAX	PXSGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.37%	6.10%	-3.73%
Volatility (6M) Calculated over the trailing 6-month period	7.78%	13.60%	-5.82%
Volatility (1Y) Calculated over the trailing 1-year period	9.65%	19.16%	-9.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.11%	24.93%	-11.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.81%	22.63%	-9.82%

PDPAX vs. PXSGX - Expense Ratio Comparison

PDPAX has a 0.81% expense ratio, which is lower than PXSGX's 1.07% expense ratio.

Dividends

PDPAX vs. PXSGX - Dividend Comparison

PDPAX's dividend yield for the trailing twelve months is around 1.57%, less than PXSGX's 48.67% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PDPAX Virtus Duff & Phelps Real Asset Fund	1.57%	1.77%	3.65%	2.08%	1.06%	0.76%	0.68%	3.09%	2.38%	1.92%	0.80%	1.13%
PXSGX Virtus KAR Small-Cap Growth Fund	48.67%	47.91%	20.72%	5.31%	17.32%	14.31%	9.64%	1.52%	2.31%	0.00%	2.69%	2.99%

Frequently Asked Questions

Can I hold both PDPAX and PXSGX in my portfolio?

PDPAX and PXSGX have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PDPAX or PXSGX?

PXSGX has higher volatility (6.10%) compared to PDPAX (2.37%). In terms of maximum drawdown, PDPAX dropped -43.40% vs PXSGX's -53.72%.

Which has better risk-adjusted returns?

PDPAX currently has the higher Sharpe Ratio (2.14 vs -0.76), 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.