PKSFX vs. SDY

Last updated Aug 1, 2026

PKSFX (Virtus KAR Small-Cap Core Fund) and SDY (SPDR S&P Dividend ETF) are both funds - PKSFX is a Mid Cap Growth Equities fund managed by Virtus, while SDY is a Mid Cap Value Equities fund tracking the S&P High Yield Dividend Aristocrats Index. Over the past 10 years, PKSFX returned 15.08%/yr vs 9.36%/yr for SDY. Their correlation of 0.82 means they have usually moved in the same direction. PKSFX charges 1.00%/yr vs 0.35%/yr for SDY.

Performance

PKSFX vs. SDY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Virtus KAR Small-Cap Core Fund (PKSFX) and SPDR S&P Dividend ETF (SDY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PKSFX achieves a 7.36% return, which is significantly lower than SDY's 12.79% return. Over the past 10 years, PKSFX has outperformed SDY with an annualized return of 15.08%, while SDY has yielded a comparatively lower 9.36% annualized return.

PKSFX

• 1D: -0.70%
• 1M: -2.66%
• 6M: 0.46%
• YTD: 7.36%
• 1Y: 6.06%
• 3Y*: 8.90%
• 5Y*: 8.16%
• 10Y*: 15.08%
• ALL TIME*: 10.85%

SDY

• 1D: -0.28%
• 1M: -0.43%
• 6M: 5.53%
• YTD: 12.79%
• 1Y: 16.57%
• 3Y*: 9.90%
• 5Y*: 7.52%
• 10Y*: 9.36%
• ALL TIME*: 9.00%

*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)
PKSFX Virtus KAR Small-Cap Core Fund	$0.00	$0.00	$0.00
SDY SPDR S&P Dividend ETF	$29.02M	$30.00M	$33.36M

PKSFX vs. SDY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PKSFX Virtus KAR Small-Cap Core Fund	7.36%	-2.58%	13.67%	32.32%	-10.77%	19.03%	21.38%	40.21%	-1.99%	34.98%
SDY SPDR S&P Dividend ETF	12.79%	8.18%	8.45%	2.61%	-0.54%	25.32%	1.71%	23.29%	-2.74%	15.82%

Correlation

The correlation between PKSFX and SDY is 0.70, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.70
Correlation (3Y) Balances recent behavior with more history.	0.75
Correlation (5Y) Shows whether the relationship held over a longer period.	0.80
Correlation (10Y) Provides a long-term view across more market conditions.	0.79
Correlation (All Time) Calculated using the full available price history since Nov 15, 2005	0.82

The correlation between PKSFX and SDY shifts across timeframes, from 0.70 (1 year) to 0.82 (all time), reflecting how their relationship changes across market environments.

Return for Risk

PKSFX vs. SDY — Risk / Return Rank

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

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: 9
PKSFX Martin Ratio Rank: 8

SDY

SDY Risk / Return Rank: 62
SDY Sharpe Ratio Rank: 66
SDY Sortino Ratio Rank: 73
SDY Omega Ratio Rank: 62
SDY Calmar Ratio Rank: 61
SDY Martin Ratio Rank: 49

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.

PKSFX vs. SDY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Virtus KAR Small-Cap Core Fund (PKSFX) and SPDR S&P Dividend ETF (SDY). 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.

	PKSFX	SDY	Difference
Sharpe ratio: Return per unit of total volatility	0.25	1.51	-1.26
Sortino ratio: Return per unit of downside risk	0.50	2.32	-1.82
Omega ratio: Gain probability vs. loss probability	1.05	1.26	-0.21
Calmar ratio: Return relative to maximum drawdown	0.36	2.12	-1.76
Martin ratio: Return relative to average drawdown	0.71	5.70	-4.99

PKSFX vs. SDY - Sharpe Ratio Comparison

The current PKSFX Sharpe Ratio is 0.25, which is lower than the SDY Sharpe Ratio of 1.51. The chart below compares the historical Sharpe Ratios of PKSFX and SDY, 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

PKSFX vs. SDY - Drawdown Comparison

The maximum PKSFX drawdown since its inception was -54.46%, roughly equal to the maximum SDY drawdown of -54.75%. Use the drawdown chart below to compare losses from any high point for PKSFX and SDY.

Drawdown Indicators

	PKSFX	SDY	Difference
Max Drawdown Largest peak-to-trough decline	-54.46%	-54.75%	+0.29%
Max Drawdown (1Y) Largest decline over 1 year	-11.19%	-7.67%	-3.52%
Max Drawdown (3Y) Largest decline over 3 years	-21.82%	-14.39%	-7.43%
Max Drawdown (5Y) Largest decline over 5 years	-22.02%	-15.21%	-6.81%
Max Drawdown (10Y) Largest decline over 10 years	-33.45%	-36.70%	+3.25%
Current Drawdown Current decline from peak	-4.23%	-2.33%	-1.90%
Average Drawdown Average peak-to-trough decline	-7.16%	-6.17%	-0.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.61%	2.84%	+2.77%

Volatility

PKSFX vs. SDY - Volatility Comparison

Virtus KAR Small-Cap Core Fund (PKSFX) and SPDR S&P Dividend ETF (SDY) have volatilities of 4.20% and 4.40%, 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

	PKSFX	SDY	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.20%	4.40%	-0.20%
Volatility (6M) Calculated over the trailing 6-month period	11.00%	8.15%	+2.85%
Volatility (1Y) Calculated over the trailing 1-year period	15.68%	10.77%	+4.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.00%	14.02%	+3.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.80%	17.09%	+1.71%

PKSFX vs. SDY - Expense Ratio Comparison

PKSFX has a 1.00% expense ratio, which is higher than SDY's 0.35% expense ratio.

Dividends

PKSFX vs. SDY - Dividend Comparison

PKSFX's dividend yield for the trailing twelve months is around 13.32%, more than SDY's 2.41% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PKSFX Virtus KAR Small-Cap Core Fund	13.32%	14.30%	4.07%	4.12%	6.65%	12.05%	7.45%	4.03%	4.33%	0.17%	5.69%	19.83%
SDY SPDR S&P Dividend ETF	2.41%	2.61%	2.56%	2.64%	2.55%	2.63%	2.85%	2.45%	2.73%	4.69%	3.30%	6.20%

Frequently Asked Questions

Can I hold both PKSFX and SDY in my portfolio?

PKSFX and SDY have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PKSFX or SDY?

SDY has higher volatility (4.40%) compared to PKSFX (4.20%). In terms of maximum drawdown, PKSFX dropped -54.46% vs SDY's -54.75%.

Which has better risk-adjusted returns?

SDY currently has the higher Sharpe Ratio (1.51 vs 0.25), 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.