SAVYX vs. PHRAX

Last updated Jun 4, 2026

SAVYX (Virtus Newfleet Core Plus Bond Fund) and PHRAX (Virtus Duff & Phelps Real Estate Securities Fund) are both mutual funds - SAVYX is a Intermediate Core-Plus Bond fund managed by Virtus, while PHRAX is a REIT fund managed by Virtus. Over the past 10 years, SAVYX returned 2.63%/yr vs 6.15%/yr for PHRAX. At a 0.04 correlation, their price movements are largely independent. SAVYX charges 0.55%/yr vs 1.36%/yr for PHRAX.

Performance

SAVYX vs. PHRAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Virtus Newfleet Core Plus Bond Fund (SAVYX) and Virtus Duff & Phelps Real Estate Securities Fund (PHRAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SAVYX achieves a 0.82% return, which is significantly lower than PHRAX's 11.63% return. Over the past 10 years, SAVYX has underperformed PHRAX with an annualized return of 2.63%, while PHRAX has yielded a comparatively higher 6.15% annualized return.

SAVYX

• 1D: 0.00%
• 1M: 0.60%
• YTD: 0.82%
• 6M: 0.76%
• 1Y: 6.07%
• 3Y*: 4.75%
• 5Y*: 1.03%
• 10Y*: 2.63%

PHRAX

• 1D: 0.41%
• 1M: -1.30%
• YTD: 11.63%
• 6M: 10.47%
• 1Y: 11.41%
• 3Y*: 10.12%
• 5Y*: 3.87%
• 10Y*: 6.15%

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

SAVYX vs. PHRAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SAVYX Virtus Newfleet Core Plus Bond Fund	0.82%	7.28%	2.55%	6.65%	-11.94%	-0.60%	7.58%	10.86%	-1.48%	5.76%
PHRAX Virtus Duff & Phelps Real Estate Securities Fund	11.63%	0.23%	10.15%	10.98%	-26.33%	46.79%	-1.98%	27.09%	-7.41%	5.65%

Correlation

The correlation between SAVYX and PHRAX is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.38
Correlation (3Y) Calculated over the trailing 3-year period	0.37
Correlation (5Y) Calculated over the trailing 5-year period	0.29
Correlation (10Y) Calculated over the trailing 10-year period	0.24
Correlation (All Time) Calculated using the full available price history since Jan 3, 1997	0.04

Over the past year, SAVYX and PHRAX have become more correlated (0.38) than their long-term average of 0.04, meaning their price movements have been converging.

Return for Risk

SAVYX vs. PHRAX — Risk / Return Rank

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

SAVYX

SAVYX Risk / Return Rank: 33
SAVYX Sharpe Ratio Rank: 34
SAVYX Sortino Ratio Rank: 37
SAVYX Omega Ratio Rank: 33
SAVYX Calmar Ratio Rank: 34
SAVYX Martin Ratio Rank: 30

PHRAX

PHRAX Risk / Return Rank: 12
PHRAX Sharpe Ratio Rank: 10
PHRAX Sortino Ratio Rank: 10
PHRAX Omega Ratio Rank: 10
PHRAX Calmar Ratio Rank: 16
PHRAX Martin Ratio Rank: 14

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.

SAVYX vs. PHRAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Virtus Newfleet Core Plus Bond Fund (SAVYX) and Virtus Duff & Phelps Real Estate Securities Fund (PHRAX). 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.

	SAVYX	PHRAX	Difference
Sharpe ratio: Return per unit of total volatility	1.67	0.85	+0.83
Sortino ratio: Return per unit of downside risk	2.54	1.20	+1.34
Omega ratio: Gain probability vs. loss probability	1.30	1.15	+0.15
Calmar ratio: Return relative to maximum drawdown	2.19	1.42	+0.77
Martin ratio: Return relative to average drawdown	7.07	4.15	+2.92
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SAVYX vs. PHRAX - Sharpe Ratio Comparison

The current SAVYX Sharpe Ratio is 1.67, which is higher than the PHRAX Sharpe Ratio of 0.85. The chart below compares the historical Sharpe Ratios of SAVYX and PHRAX, 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

	SAVYX	PHRAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.67	0.85	+0.83
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.20	0.20	0.00
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.61	0.29	+0.32
Sharpe Ratio (All Time) Calculated using the full available price history	1.27	0.40	+0.88

Drawdowns

SAVYX vs. PHRAX - Drawdown Comparison

The maximum SAVYX drawdown since its inception was -16.46%, smaller than the maximum PHRAX drawdown of -72.56%. Use the drawdown chart below to compare losses from any high point for SAVYX and PHRAX.

Drawdown Indicators

	SAVYX	PHRAX	Difference
Max Drawdown Largest peak-to-trough decline	-16.46%	-72.56%	+56.10%
Max Drawdown (1Y) Largest decline over 1 year	-2.78%	-7.83%	+5.05%
Max Drawdown (3Y) Largest decline over 3 years	-5.79%	-19.09%	+13.30%
Max Drawdown (5Y) Largest decline over 5 years	-16.46%	-33.51%	+17.05%
Max Drawdown (10Y) Largest decline over 10 years	-16.46%	-42.00%	+25.54%
Current Drawdown Current decline from peak	-0.92%	-3.51%	+2.59%
Average Drawdown Average peak-to-trough decline	-1.75%	-11.37%	+9.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.86%	2.67%	-1.81%

Volatility

SAVYX vs. PHRAX - Volatility Comparison

The current volatility for Virtus Newfleet Core Plus Bond Fund (SAVYX) is 1.23%, while Virtus Duff & Phelps Real Estate Securities Fund (PHRAX) has a volatility of 3.94%. This indicates that SAVYX experiences smaller price fluctuations and is considered to be less risky than PHRAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SAVYX	PHRAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.23%	3.94%	-2.71%
Volatility (6M) Calculated over the trailing 6-month period	2.62%	9.43%	-6.81%
Volatility (1Y) Calculated over the trailing 1-year period	3.66%	13.12%	-9.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.07%	19.08%	-14.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.30%	20.98%	-16.68%

SAVYX vs. PHRAX - Expense Ratio Comparison

SAVYX has a 0.55% expense ratio, which is lower than PHRAX's 1.36% expense ratio.

Dividends

SAVYX vs. PHRAX - Dividend Comparison

SAVYX's dividend yield for the trailing twelve months is around 4.93%, less than PHRAX's 5.30% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PHRAX Virtus Duff & Phelps Real Estate Securities Fund	5.30%	5.93%	8.39%	12.35%	11.12%	4.45%	5.58%	21.34%	19.03%	18.54%	21.22%	20.04%
SAVYX Virtus Newfleet Core Plus Bond Fund	4.93%	5.03%	4.42%	4.00%	3.10%	3.11%	2.62%	3.23%	3.67%	3.47%	3.19%	3.50%

Frequently Asked Questions

Can I hold both SAVYX and PHRAX in my portfolio?

SAVYX and PHRAX have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SAVYX or PHRAX?

PHRAX has higher volatility (3.94%) compared to SAVYX (1.23%). In terms of maximum drawdown, SAVYX dropped -16.46% vs PHRAX's -72.56%.

Which has better risk-adjusted returns?

SAVYX currently has the higher Sharpe Ratio (1.67 vs 0.85), 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.