PSFIX vs. MERIX
PSFIX (Virtus Newfleet Senior Floating Rate Fund) and MERIX (The Merger Fund Class I) are both mutual funds - PSFIX is a Bank Loan fund managed by Virtus, while MERIX is a Event Driven fund managed by Virtus. Over the past 10 years, PSFIX returned 4.38%/yr vs 4.25%/yr for MERIX. Their 0.16 correlation means their historical movements had little consistent relationship. PSFIX charges 0.69%/yr vs 1.32%/yr for MERIX.
Performance
PSFIX vs. MERIX - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with PSFIX having a 1.66% return and MERIX slightly higher at 1.71%. Both investments have delivered pretty close results over the past 10 years, with PSFIX having a 4.38% annualized return and MERIX not far behind at 4.25%.
PSFIX
- 1D
- 0.00%
- 1M
- 0.12%
- 6M
- 1.82%
- YTD
- 1.66%
- 1Y
- 3.72%
- 3Y*
- 6.27%
- 5Y*
- 5.21%
- 10Y*
- 4.38%
- ALL TIME*
- 6.14%
MERIX
- 1D
- 0.00%
- 1M
- 0.12%
- 6M
- 1.59%
- YTD
- 1.71%
- 1Y
- 4.05%
- 3Y*
- 6.23%
- 5Y*
- 4.00%
- 10Y*
- 4.25%
- ALL TIME*
- 3.64%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
PSFIX vs. MERIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PSFIX Virtus Newfleet Senior Floating Rate Fund | 1.66% | 5.11% | 7.59% | 10.67% | -0.21% | 4.51% | 0.94% | 8.29% | -0.95% | 3.11% |
MERIX The Merger Fund Class I | 1.71% | 8.41% | 3.54% | 4.51% | 1.01% | 0.10% | 5.14% | 6.32% | 7.98% | 2.74% |
Correlation
The correlation between PSFIX and MERIX is 0.11, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.11 |
Correlation (3Y) Balances recent behavior with more history. | 0.09 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.14 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.15 |
Correlation (All Time) Calculated using the full available price history since Aug 5, 2013 | 0.16 |
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Return for Risk
PSFIX vs. MERIX — Risk / Return Rank
PSFIX
MERIX
PSFIX vs. MERIX - 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 Class I (MERIX). 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 | MERIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.89 | ||
| Sortino ratioReturn per unit of downside risk | -0.35 | ||
| Omega ratioGain probability vs. loss probability | 1.64 | 1.60 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 4.80 | 8.69 | -3.89 |
| Martin ratioReturn relative to average drawdown | 15.07 | 32.50 | -17.42 |
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Drawdowns
PSFIX vs. MERIX - Drawdown Comparison
The maximum PSFIX drawdown since its inception was -22.76%, which is greater than MERIX's maximum drawdown of -9.33%. Use the drawdown chart below to compare losses from any high point for PSFIX and MERIX.
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Drawdown Indicators
| PSFIX | MERIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.76% | -9.33% | -13.43% |
Max Drawdown (1Y)Largest decline over 1 year | -0.88% | -0.47% | -0.41% |
Max Drawdown (3Y)Largest decline over 3 years | -2.62% | -3.85% | +1.23% |
Max Drawdown (5Y)Largest decline over 5 years | -5.78% | -3.85% | -1.93% |
Max Drawdown (10Y)Largest decline over 10 years | -22.76% | -9.33% | -13.43% |
Current DrawdownCurrent decline from peak | -0.12% | -0.23% | +0.11% |
Average DrawdownAverage peak-to-trough decline | -0.85% | -1.01% | +0.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.28% | 0.12% | +0.16% |
Volatility
PSFIX vs. MERIX - Volatility Comparison
The current volatility for Virtus Newfleet Senior Floating Rate Fund (PSFIX) is 0.27%, while The Merger Fund Class I (MERIX) has a volatility of 0.54%. This indicates that PSFIX experiences smaller price fluctuations and is considered to be less risky than MERIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PSFIX | MERIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.27% | 0.54% | -0.27% |
Volatility (6M)Calculated over the trailing 6-month period | 1.65% | 1.19% | +0.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.29% | 1.48% | +0.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.83% | 3.56% | -0.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.16% | 3.84% | +0.32% |
PSFIX vs. MERIX - Expense Ratio Comparison
PSFIX has a 0.69% expense ratio, which is lower than MERIX's 1.32% expense ratio.
Dividends
PSFIX vs. MERIX - Dividend Comparison
PSFIX's dividend yield for the trailing twelve months is around 6.05%, less than MERIX's 7.82% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MERIX The Merger Fund Class I | 7.82% | 7.95% | 3.75% | 2.91% | 4.75% | 0.27% | 3.64% | 1.34% | 4.85% | 0.98% | 0.89% | 1.63% |
PSFIX Virtus Newfleet Senior Floating Rate Fund | 6.05% | 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 MERIX have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MERIX has higher volatility (0.54%) compared to PSFIX (0.27%). In terms of maximum drawdown, PSFIX dropped -22.76% vs MERIX's -9.33%.
MERIX currently has the higher Sharpe Ratio (2.74 vs 1.85), 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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