PSFIX vs. MERFX
PSFIX (Virtus Newfleet Senior Floating Rate Fund) and MERFX (The Merger Fund) are both mutual funds - PSFIX is a Bank Loan fund managed by Virtus, while MERFX is a Event Driven fund managed by Virtus. Over the past 10 years, PSFIX returned 4.48%/yr vs 3.90%/yr for MERFX. At a 0.18 correlation, their price movements are largely independent. PSFIX charges 0.69%/yr vs 1.50%/yr for MERFX.
Performance
PSFIX vs. MERFX - Performance Comparison
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Returns By Period
In the year-to-date period, PSFIX achieves a 1.32% return, which is significantly higher than MERFX's 1.04% return. Over the past 10 years, PSFIX has outperformed MERFX with an annualized return of 4.48%, while MERFX has yielded a comparatively lower 3.90% annualized return.
PSFIX
- 1D
- 0.00%
- 1M
- 0.20%
- YTD
- 1.32%
- 6M
- 1.93%
- 1Y
- 4.82%
- 3Y*
- 6.91%
- 5Y*
- 5.21%
- 10Y*
- 4.48%
MERFX
- 1D
- 0.11%
- 1M
- 0.00%
- YTD
- 1.04%
- 6M
- 1.16%
- 1Y
- 4.60%
- 3Y*
- 6.01%
- 5Y*
- 2.98%
- 10Y*
- 3.90%
PSFIX vs. MERFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PSFIX Virtus Newfleet Senior Floating Rate Fund | 1.32% | 5.11% | 7.59% | 10.67% | -0.21% | 4.51% | 0.94% | 8.29% | -0.95% | 3.11% |
MERFX The Merger Fund | 1.04% | 8.11% | 3.27% | 4.17% | 0.71% | -0.19% | 4.87% | 5.96% | 7.68% | 2.39% |
Correlation
The correlation between PSFIX and MERFX is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.16 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.11 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.15 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2009 | 0.18 |
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Return for Risk
PSFIX vs. MERFX — Risk / Return Rank
PSFIX
MERFX
PSFIX vs. MERFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Virtus Newfleet Senior Floating Rate Fund (PSFIX) and The Merger Fund (MERFX). 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.
| PSFIX | MERFX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.95 | ||
| Sortino ratioReturn per unit of downside risk | -0.65 | ||
| Omega ratioGain probability vs. loss probability | 1.76 | 1.72 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 5.47 | 9.02 | -3.55 |
| Martin ratioReturn relative to average drawdown | 17.75 | 39.94 | -22.19 |
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Drawdowns
PSFIX vs. MERFX - Drawdown Comparison
The maximum PSFIX drawdown since its inception was -22.76%, which is greater than MERFX's maximum drawdown of -20.82%. Use the drawdown chart below to compare losses from any high point for PSFIX and MERFX.
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Drawdown Indicators
| PSFIX | MERFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.76% | -20.82% | -1.94% |
Max Drawdown (1Y)Largest decline over 1 year | -0.88% | -0.52% | -0.36% |
Max Drawdown (3Y)Largest decline over 3 years | -2.62% | -3.36% | +0.74% |
Max Drawdown (5Y)Largest decline over 5 years | -5.78% | -4.99% | -0.79% |
Max Drawdown (10Y)Largest decline over 10 years | -22.76% | -9.35% | -13.41% |
Current DrawdownCurrent decline from peak | -0.24% | -0.17% | -0.07% |
Average DrawdownAverage peak-to-trough decline | -0.86% | -2.66% | +1.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.27% | 0.12% | +0.15% |
Volatility
PSFIX vs. MERFX - Volatility Comparison
The current volatility for Virtus Newfleet Senior Floating Rate Fund (PSFIX) is 0.50%, while The Merger Fund (MERFX) has a volatility of 0.71%. This indicates that PSFIX experiences smaller price fluctuations and is considered to be less risky than MERFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PSFIX | MERFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.50% | 0.71% | -0.21% |
Volatility (6M)Calculated over the trailing 6-month period | 1.65% | 1.10% | +0.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.28% | 1.53% | +0.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.82% | 3.45% | -0.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.16% | 3.75% | +0.41% |
PSFIX vs. MERFX - Expense Ratio Comparison
PSFIX has a 0.69% expense ratio, which is lower than MERFX's 1.50% expense ratio.
Dividends
PSFIX vs. MERFX - Dividend Comparison
PSFIX's dividend yield for the trailing twelve months is around 6.65%, less than MERFX's 7.34% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MERFX The Merger Fund | 7.34% | 7.42% | 3.24% | 2.59% | 3.50% | 0.27% | 3.31% | 1.34% | 4.52% | 0.59% | 0.32% | 1.25% |
PSFIX Virtus Newfleet Senior Floating Rate Fund | 6.65% | 7.22% | 7.77% | 7.48% | 4.85% | 2.84% | 3.98% | 5.29% | 5.07% | 4.03% | 3.95% | 4.40% |
Frequently Asked Questions
PSFIX and MERFX have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MERFX has higher volatility (0.71%) compared to PSFIX (0.50%). In terms of maximum drawdown, PSFIX dropped -22.76% vs MERFX's -20.82%.
MERFX currently has the higher Sharpe Ratio (3.07 vs 2.12), 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.
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