STVTX vs. PHRAX

Last updated Jun 4, 2026

STVTX (Virtus Ceredex Large-Cap Value Equity Fund) and PHRAX (Virtus Duff & Phelps Real Estate Securities Fund) are both mutual funds - STVTX is a Large Cap Value Equities fund managed by Virtus, while PHRAX is a REIT fund managed by Virtus. Over the past 10 years, STVTX returned 10.42%/yr vs 6.15%/yr for PHRAX. A 0.60 correlation means they provide meaningful diversification when combined. STVTX charges 0.97%/yr vs 1.36%/yr for PHRAX.

Performance

STVTX vs. PHRAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Virtus Ceredex Large-Cap Value Equity Fund (STVTX) 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, STVTX achieves a 14.77% return, which is significantly higher than PHRAX's 11.63% return. Over the past 10 years, STVTX has outperformed PHRAX with an annualized return of 10.42%, while PHRAX has yielded a comparatively lower 6.15% annualized return.

STVTX

• 1D: 1.09%
• 1M: 3.83%
• YTD: 14.77%
• 6M: 14.96%
• 1Y: 28.88%
• 3Y*: 17.21%
• 5Y*: 8.44%
• 10Y*: 10.42%

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)

STVTX vs. PHRAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
STVTX Virtus Ceredex Large-Cap Value Equity Fund	14.77%	11.95%	9.91%	14.84%	-13.97%	25.70%	3.75%	31.00%	-10.77%	16.24%
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 STVTX and PHRAX is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.48
Correlation (3Y) Calculated over the trailing 3-year period	0.62
Correlation (5Y) Calculated over the trailing 5-year period	0.69
Correlation (10Y) Calculated over the trailing 10-year period	0.59
Correlation (All Time) Calculated using the full available price history since Mar 1, 1995	0.60

The correlation between STVTX and PHRAX shifts across timeframes, from 0.48 (1 year) to 0.69 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

STVTX vs. PHRAX — Risk / Return Rank

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

STVTX

STVTX Risk / Return Rank: 65
STVTX Sharpe Ratio Rank: 58
STVTX Sortino Ratio Rank: 58
STVTX Omega Ratio Rank: 51
STVTX Calmar Ratio Rank: 81
STVTX Martin Ratio Rank: 75

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.

STVTX vs. PHRAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Virtus Ceredex Large-Cap Value Equity Fund (STVTX) 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.

	STVTX	PHRAX	Difference
Sharpe ratio: Return per unit of total volatility	2.25	0.85	+1.41
Sortino ratio: Return per unit of downside risk	3.21	1.20	+2.01
Omega ratio: Gain probability vs. loss probability	1.39	1.15	+0.24
Calmar ratio: Return relative to maximum drawdown	3.75	1.42	+2.33
Martin ratio: Return relative to average drawdown	14.17	4.15	+10.02
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

STVTX vs. PHRAX - Sharpe Ratio Comparison

The current STVTX Sharpe Ratio is 2.25, which is higher than the PHRAX Sharpe Ratio of 0.85. The chart below compares the historical Sharpe Ratios of STVTX 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

	STVTX	PHRAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.25	0.85	+1.41
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.40	0.20	+0.20
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.51	0.29	+0.22
Sharpe Ratio (All Time) Calculated using the full available price history	0.51	0.40	+0.12

Drawdowns

STVTX vs. PHRAX - Drawdown Comparison

The maximum STVTX drawdown since its inception was -53.12%, smaller than the maximum PHRAX drawdown of -72.56%. Use the drawdown chart below to compare losses from any high point for STVTX and PHRAX.

Drawdown Indicators

	STVTX	PHRAX	Difference
Max Drawdown Largest peak-to-trough decline	-53.12%	-72.56%	+19.44%
Max Drawdown (1Y) Largest decline over 1 year	-8.06%	-7.83%	-0.23%
Max Drawdown (3Y) Largest decline over 3 years	-29.49%	-19.09%	-10.40%
Max Drawdown (5Y) Largest decline over 5 years	-29.49%	-33.51%	+4.02%
Max Drawdown (10Y) Largest decline over 10 years	-41.46%	-42.00%	+0.54%
Current Drawdown Current decline from peak	0.00%	-3.51%	+3.51%
Average Drawdown Average peak-to-trough decline	-7.69%	-11.37%	+3.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.13%	2.67%	-0.54%

Volatility

STVTX vs. PHRAX - Volatility Comparison

Virtus Ceredex Large-Cap Value Equity Fund (STVTX) has a higher volatility of 4.16% compared to Virtus Duff & Phelps Real Estate Securities Fund (PHRAX) at 3.94%. This indicates that STVTX's price experiences larger fluctuations and is considered to be riskier than PHRAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	STVTX	PHRAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.16%	3.94%	+0.22%
Volatility (6M) Calculated over the trailing 6-month period	10.48%	9.43%	+1.05%
Volatility (1Y) Calculated over the trailing 1-year period	13.41%	13.12%	+0.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.12%	19.08%	+2.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.33%	20.98%	-0.65%

STVTX vs. PHRAX - Expense Ratio Comparison

STVTX has a 0.97% expense ratio, which is lower than PHRAX's 1.36% expense ratio.

Dividends

STVTX vs. PHRAX - Dividend Comparison

STVTX's dividend yield for the trailing twelve months is around 13.11%, more 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%
STVTX Virtus Ceredex Large-Cap Value Equity Fund	13.11%	15.05%	22.34%	2.47%	11.17%	31.52%	5.63%	6.98%	29.94%	17.07%	0.39%	10.54%

Frequently Asked Questions

Can I hold both STVTX and PHRAX in my portfolio?

STVTX and PHRAX have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, STVTX or PHRAX?

STVTX has higher volatility (4.16%) compared to PHRAX (3.94%). In terms of maximum drawdown, STVTX dropped -53.12% vs PHRAX's -72.56%.

Which has better risk-adjusted returns?

STVTX currently has the higher Sharpe Ratio (2.25 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.