RAGHX vs. ALOIX

Last updated Aug 4, 2026

RAGHX (Virtus Health Sciences Fund) and ALOIX (Virtus International Small-Cap Fund) are both mutual funds - RAGHX is a Health & Biotech Equities fund managed by Allianz, while ALOIX is a Foreign Small & Mid Cap Equities fund managed by Allianz. Over the past 10 years, RAGHX returned 6.73%/yr vs 8.26%/yr for ALOIX. Their 0.51 correlation means they have sometimes moved together and sometimes differently. RAGHX charges 1.37%/yr vs 1.04%/yr for ALOIX.

Performance

RAGHX vs. ALOIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Virtus Health Sciences Fund (RAGHX) and Virtus International Small-Cap Fund (ALOIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RAGHX achieves a -0.44% return, which is significantly lower than ALOIX's 14.68% return. Over the past 10 years, RAGHX has underperformed ALOIX with an annualized return of 6.73%, while ALOIX has yielded a comparatively higher 8.26% annualized return.

RAGHX

• 1D: 0.03%
• 1M: -1.17%
• 6M: 1.72%
• YTD: -0.44%
• 1Y: 15.80%
• 3Y*: 1.95%
• 5Y*: -0.02%
• 10Y*: 6.73%
• ALL TIME*: 8.64%

ALOIX

• 1D: 0.16%
• 1M: 0.70%
• 6M: 7.10%
• YTD: 14.68%
• 1Y: 32.99%
• 3Y*: 18.18%
• 5Y*: 6.40%
• 10Y*: 8.26%
• ALL TIME*: 6.90%

*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)
ALOIX Virtus International Small-Cap Fund	$0.00	$0.00	$0.00
RAGHX Virtus Health Sciences Fund	$0.00	$0.00	$0.00

RAGHX vs. ALOIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RAGHX Virtus Health Sciences Fund	-0.44%	7.23%	-2.33%	2.57%	-11.64%	25.44%	13.76%	26.69%	4.37%	17.33%
ALOIX Virtus International Small-Cap Fund	14.68%	36.22%	2.65%	19.43%	-26.96%	6.02%	15.92%	24.57%	-22.78%	37.59%

Correlation

The correlation between RAGHX and ALOIX is 0.28, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.28
Correlation (3Y) Balances recent behavior with more history.	0.37
Correlation (5Y) Shows whether the relationship held over a longer period.	0.48
Correlation (10Y) Provides a long-term view across more market conditions.	0.53
Correlation (All Time) Calculated using the full available price history since Jan 2, 2003	0.51

Over the past year, the correlation between RAGHX and ALOIX has dropped to 0.28 - well below their long-term average of 0.51, suggesting their price drivers have been diverging.

Return for Risk

RAGHX vs. ALOIX — Risk / Return Rank

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

RAGHX

RAGHX Risk / Return Rank: 22
RAGHX Sharpe Ratio Rank: 25
RAGHX Sortino Ratio Rank: 28
RAGHX Omega Ratio Rank: 23
RAGHX Calmar Ratio Rank: 20
RAGHX Martin Ratio Rank: 15

ALOIX

ALOIX Risk / Return Rank: 89
ALOIX Sharpe Ratio Rank: 93
ALOIX Sortino Ratio Rank: 88
ALOIX Omega Ratio Rank: 86
ALOIX Calmar Ratio Rank: 89
ALOIX Martin Ratio Rank: 88

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.

RAGHX vs. ALOIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Virtus Health Sciences Fund (RAGHX) and Virtus International Small-Cap Fund (ALOIX). 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.

	RAGHX	ALOIX	Difference
Sharpe ratio: Return per unit of total volatility	0.94	2.43	-1.49
Sortino ratio: Return per unit of downside risk	1.52	3.26	-1.74
Omega ratio: Gain probability vs. loss probability	1.17	1.44	-0.27
Calmar ratio: Return relative to maximum drawdown	1.01	3.37	-2.36
Martin ratio: Return relative to average drawdown	2.28	12.07	-9.79

RAGHX vs. ALOIX - Sharpe Ratio Comparison

The current RAGHX Sharpe Ratio is 0.94, which is lower than the ALOIX Sharpe Ratio of 2.43. The chart below compares the historical Sharpe Ratios of RAGHX and ALOIX, 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

RAGHX vs. ALOIX - Drawdown Comparison

The maximum RAGHX drawdown since its inception was -40.23%, smaller than the maximum ALOIX drawdown of -79.29%. Use the drawdown chart below to compare losses from any high point for RAGHX and ALOIX.

Drawdown Indicators

	RAGHX	ALOIX	Difference
Max Drawdown Largest peak-to-trough decline	-40.23%	-79.29%	+39.06%
Max Drawdown (1Y) Largest decline over 1 year	-15.94%	-10.07%	-5.87%
Max Drawdown (3Y) Largest decline over 3 years	-22.14%	-14.03%	-8.11%
Max Drawdown (5Y) Largest decline over 5 years	-22.14%	-39.41%	+17.27%
Max Drawdown (10Y) Largest decline over 10 years	-28.01%	-42.79%	+14.78%
Current Drawdown Current decline from peak	-6.04%	-0.89%	-5.15%
Average Drawdown Average peak-to-trough decline	-7.13%	-34.68%	+27.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.06%	2.81%	+4.25%

Volatility

RAGHX vs. ALOIX - Volatility Comparison

Virtus Health Sciences Fund (RAGHX) has a higher volatility of 6.34% compared to Virtus International Small-Cap Fund (ALOIX) at 5.00%. This indicates that RAGHX's price experiences larger fluctuations and is considered to be riskier than ALOIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RAGHX	ALOIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.34%	5.00%	+1.34%
Volatility (6M) Calculated over the trailing 6-month period	13.38%	11.90%	+1.48%
Volatility (1Y) Calculated over the trailing 1-year period	17.54%	13.98%	+3.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.91%	15.10%	+1.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.58%	16.44%	+1.14%

RAGHX vs. ALOIX - Expense Ratio Comparison

RAGHX has a 1.37% expense ratio, which is higher than ALOIX's 1.04% expense ratio.

Dividends

RAGHX vs. ALOIX - Dividend Comparison

RAGHX has not paid dividends to shareholders, while ALOIX's dividend yield for the trailing twelve months is around 3.96%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ALOIX Virtus International Small-Cap Fund	3.96%	4.54%	3.50%	4.93%	1.25%	19.08%	1.38%	1.62%	18.17%	1.52%	1.04%	0.54%
RAGHX Virtus Health Sciences Fund	0.00%	0.00%	0.00%	0.00%	9.51%	21.85%	14.50%	6.89%	16.12%	0.00%	0.00%	23.19%

Frequently Asked Questions

Can I hold both RAGHX and ALOIX in my portfolio?

RAGHX and ALOIX have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RAGHX or ALOIX?

RAGHX has higher volatility (6.34%) compared to ALOIX (5.00%). In terms of maximum drawdown, RAGHX dropped -40.23% vs ALOIX's -79.29%.

Which has better risk-adjusted returns?

ALOIX currently has the higher Sharpe Ratio (2.43 vs 0.94), 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.