PGWCX vs. AZBIX

Last updated Jun 6, 2026

PGWCX (Virtus Focused Growth Fund) and AZBIX (Virtus Small-Cap Fund) are both mutual funds - PGWCX is a Large Cap Growth Equities fund managed by Allianz, while AZBIX is a Small Cap Blend Equities fund managed by Allianz. Over the past 10 years, PGWCX returned 18.45%/yr vs 11.78%/yr for AZBIX. A 0.75 correlation means they provide meaningful diversification when combined. PGWCX charges 1.70%/yr vs 0.89%/yr for AZBIX.

Performance

PGWCX vs. AZBIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Virtus Focused Growth Fund (PGWCX) and Virtus Small-Cap Fund (AZBIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PGWCX achieves a 5.67% return, which is significantly lower than AZBIX's 18.35% return. Over the past 10 years, PGWCX has outperformed AZBIX with an annualized return of 18.45%, while AZBIX has yielded a comparatively lower 11.78% annualized return.

PGWCX

• 1D: 0.31%
• 1M: 2.20%
• YTD: 5.67%
• 6M: 5.32%
• 1Y: 22.37%
• 3Y*: 30.28%
• 5Y*: 16.59%
• 10Y*: 18.45%

AZBIX

• 1D: 1.00%
• 1M: 1.39%
• YTD: 18.35%
• 6M: 17.88%
• 1Y: 34.08%
• 3Y*: 18.72%
• 5Y*: 8.26%
• 10Y*: 11.78%

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

PGWCX vs. AZBIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PGWCX Virtus Focused Growth Fund	5.67%	19.31%	52.99%	52.26%	-34.89%	19.61%	47.57%	32.96%	-6.82%	30.45%
AZBIX Virtus Small-Cap Fund	18.35%	8.49%	19.06%	14.09%	-18.04%	18.92%	16.98%	24.13%	-9.25%	21.27%

Correlation

The correlation between PGWCX and AZBIX is 0.61, 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	0.61
Correlation (3Y) Calculated over the trailing 3-year period	0.60
Correlation (5Y) Calculated over the trailing 5-year period	0.70
Correlation (10Y) Calculated over the trailing 10-year period	0.73
Correlation (All Time) Calculated using the full available price history since Jul 3, 2013	0.75

The correlation between PGWCX and AZBIX shifts across timeframes, from 0.60 (3 years) to 0.75 (all time), reflecting how their relationship changes across market environments.

Return for Risk

PGWCX vs. AZBIX — Risk / Return Rank

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

PGWCX

PGWCX Risk / Return Rank: 22
PGWCX Sharpe Ratio Rank: 25
PGWCX Sortino Ratio Rank: 24
PGWCX Omega Ratio Rank: 23
PGWCX Calmar Ratio Rank: 17
PGWCX Martin Ratio Rank: 21

AZBIX

AZBIX Risk / Return Rank: 60
AZBIX Sharpe Ratio Rank: 51
AZBIX Sortino Ratio Rank: 51
AZBIX Omega Ratio Rank: 46
AZBIX Calmar Ratio Rank: 82
AZBIX Martin Ratio Rank: 69

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.

PGWCX vs. AZBIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Virtus Focused Growth Fund (PGWCX) and Virtus Small-Cap Fund (AZBIX). 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.

	PGWCX	AZBIX	Difference
Sharpe ratio: Return per unit of total volatility	1.37	2.04	-0.67
Sortino ratio: Return per unit of downside risk	1.94	2.91	-0.96
Omega ratio: Gain probability vs. loss probability	1.24	1.35	-0.11
Calmar ratio: Return relative to maximum drawdown	1.38	3.66	-2.28
Martin ratio: Return relative to average drawdown	5.02	12.80	-7.77
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PGWCX vs. AZBIX - Sharpe Ratio Comparison

The current PGWCX Sharpe Ratio is 1.37, which is lower than the AZBIX Sharpe Ratio of 2.04. The chart below compares the historical Sharpe Ratios of PGWCX and AZBIX, 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

	PGWCX	AZBIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.37	2.04	-0.67
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.63	0.40	+0.22
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.76	0.55	+0.20
Sharpe Ratio (All Time) Calculated using the full available price history	0.62	0.55	+0.07

Drawdowns

PGWCX vs. AZBIX - Drawdown Comparison

The maximum PGWCX drawdown since its inception was -67.19%, which is greater than AZBIX's maximum drawdown of -40.80%. Use the drawdown chart below to compare losses from any high point for PGWCX and AZBIX.

Drawdown Indicators

	PGWCX	AZBIX	Difference
Max Drawdown Largest peak-to-trough decline	-67.19%	-40.80%	-26.39%
Max Drawdown (1Y) Largest decline over 1 year	-16.31%	-9.33%	-6.98%
Max Drawdown (3Y) Largest decline over 3 years	-30.02%	-29.01%	-1.01%
Max Drawdown (5Y) Largest decline over 5 years	-39.09%	-29.85%	-9.24%
Max Drawdown (10Y) Largest decline over 10 years	-39.09%	-40.80%	+1.71%
Current Drawdown Current decline from peak	-2.21%	0.00%	-2.21%
Average Drawdown Average peak-to-trough decline	-17.87%	-7.71%	-10.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.46%	2.66%	+1.80%

Volatility

PGWCX vs. AZBIX - Volatility Comparison

Virtus Focused Growth Fund (PGWCX) and Virtus Small-Cap Fund (AZBIX) have volatilities of 4.44% and 4.64%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PGWCX	AZBIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.44%	4.64%	-0.20%
Volatility (6M) Calculated over the trailing 6-month period	12.70%	12.20%	+0.50%
Volatility (1Y) Calculated over the trailing 1-year period	16.39%	16.71%	-0.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.55%	20.50%	+6.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.45%	21.35%	+3.10%

PGWCX vs. AZBIX - Expense Ratio Comparison

PGWCX has a 1.70% expense ratio, which is higher than AZBIX's 0.89% expense ratio.

Dividends

PGWCX vs. AZBIX - Dividend Comparison

PGWCX's dividend yield for the trailing twelve months is around 13.13%, more than AZBIX's 4.14% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AZBIX Virtus Small-Cap Fund	4.14%	4.90%	10.82%	2.31%	4.78%	13.82%	0.45%	0.38%	9.62%	13.80%	0.03%	3.59%
PGWCX Virtus Focused Growth Fund	13.13%	13.87%	24.05%	6.02%	15.19%	41.55%	15.72%	23.03%	20.78%	1.92%	3.51%	9.18%

Frequently Asked Questions

Can I hold both PGWCX and AZBIX in my portfolio?

PGWCX and AZBIX have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PGWCX or AZBIX?

AZBIX has higher volatility (4.64%) compared to PGWCX (4.44%). In terms of maximum drawdown, PGWCX dropped -67.19% vs AZBIX's -40.80%.

Which has better risk-adjusted returns?

AZBIX currently has the higher Sharpe Ratio (2.04 vs 1.37), 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.