VRTS vs. MBIN

Last updated Jun 3, 2026

VRTS (Virtus Investment Partners, Inc.) and MBIN (Merchants Bancorp) are both stocks. Both are in the Financial Services sector — VRTS in Asset Management, MBIN in Banks - Regional. Over the past 5 years, VRTS returned -9.74%/yr vs 11.77%/yr for MBIN. At a 0.47 correlation, their price movements are largely independent.

Performance

VRTS vs. MBIN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Virtus Investment Partners, Inc. (VRTS) and Merchants Bancorp (MBIN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VRTS achieves a -6.85% return, which is significantly lower than MBIN's 38.09% return.

VRTS

• 1D: 1.15%
• 1M: 8.29%
• YTD: -6.85%
• 6M: -2.31%
• 1Y: -7.37%
• 3Y*: -5.80%
• 5Y*: -9.74%
• 10Y*: 9.41%

MBIN

• 1D: 1.32%
• 1M: 0.67%
• YTD: 38.09%
• 6M: 42.87%
• 1Y: 50.12%
• 3Y*: 25.28%
• 5Y*: 11.77%
• 10Y*: —

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

VRTS vs. MBIN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VRTS Virtus Investment Partners, Inc.	-6.85%	-22.12%	-5.56%	30.90%	-33.50%	38.98%	82.52%	56.62%	-29.81%	-1.79%
MBIN Merchants Bancorp	38.09%	-5.51%	-13.59%	77.01%	-22.06%	72.80%	42.55%	0.30%	2.43%	17.43%

Correlation

The correlation between VRTS and MBIN is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.42
Correlation (3Y) Calculated over the trailing 3-year period	0.50
Correlation (5Y) Calculated over the trailing 5-year period	0.51
Correlation (All Time) Calculated using the full available price history since Oct 30, 2017	0.47

The correlation between VRTS and MBIN has been stable across timeframes, ranging from 0.42 to 0.51 - a consistent structural relationship.

Fundamentals

Market Cap VRTS : $1.00B MBIN : $2.16B
EPS VRTS : $16.98 MBIN : $4.97
PE Ratio VRTS : 8.67 MBIN : 9.44
PS Ratio VRTS : 1.27 MBIN : 1.63
PB Ratio VRTS : 1.09 MBIN : 0.93
Total Revenue (TTM) VRTS : $799.77M MBIN : $1.32B
Gross Profit (TTM) VRTS : $646.06M MBIN : $423.13M
EBITDA (TTM) VRTS : $384.75M MBIN : $188.84M

Return for Risk

VRTS vs. MBIN — Risk / Return Rank

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

VRTS

VRTS Risk / Return Rank: 30
VRTS Sharpe Ratio Rank: 31
VRTS Sortino Ratio Rank: 28
VRTS Omega Ratio Rank: 27
VRTS Calmar Ratio Rank: 33
VRTS Martin Ratio Rank: 33

MBIN

MBIN Risk / Return Rank: 77
MBIN Sharpe Ratio Rank: 79
MBIN Sortino Ratio Rank: 74
MBIN Omega Ratio Rank: 75
MBIN Calmar Ratio Rank: 78
MBIN Martin Ratio Rank: 77

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.

VRTS vs. MBIN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Virtus Investment Partners, Inc. (VRTS) and Merchants Bancorp (MBIN). 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.

	VRTS	MBIN	Difference
Sharpe ratio Return per unit of total volatility	-0.22	1.38	-1.60
Sortino ratio Return per unit of downside risk	-0.08	1.99	-2.06
Omega ratio Gain probability vs. loss probability	0.99	1.27	-0.28
Calmar ratio Return relative to maximum drawdown	-0.22	2.54	-2.77
Martin ratio Return relative to average drawdown	-0.39	5.71	-6.10
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VRTS vs. MBIN - Sharpe Ratio Comparison

The current VRTS Sharpe Ratio is -0.22, which is lower than the MBIN Sharpe Ratio of 1.38. The chart below compares the historical Sharpe Ratios of VRTS and MBIN, 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

	VRTS	MBIN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.22	1.38	-1.60
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.27	0.33	-0.60
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.24	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.43	0.49	-0.06

Drawdowns

VRTS vs. MBIN - Drawdown Comparison

The maximum VRTS drawdown since its inception was -74.36%, which is greater than MBIN's maximum drawdown of -53.77%. Use the drawdown chart below to compare losses from any high point for VRTS and MBIN.

Drawdown Indicators

	VRTS	MBIN	Difference
Max Drawdown Largest peak-to-trough decline	-74.36%	-53.77%	-20.59%
Max Drawdown (1Y) Largest decline over 1 year	-38.95%	-18.94%	-20.01%
Max Drawdown (3Y) Largest decline over 3 years	-46.59%	-43.94%	-2.65%
Max Drawdown (5Y) Largest decline over 5 years	-55.50%	-43.94%	-11.56%
Max Drawdown (10Y) Largest decline over 10 years	-58.70%	—	—
Current Drawdown Current decline from peak	-46.87%	-9.11%	-37.76%
Average Drawdown Average peak-to-trough decline	-31.45%	-19.93%	-11.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	22.17%	8.44%	+13.73%

Volatility

VRTS vs. MBIN - Volatility Comparison

Virtus Investment Partners, Inc. (VRTS) has a higher volatility of 9.74% compared to Merchants Bancorp (MBIN) at 6.16%. This indicates that VRTS's price experiences larger fluctuations and is considered to be riskier than MBIN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VRTS	MBIN	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.74%	6.16%	+3.58%
Volatility (6M) Calculated over the trailing 6-month period	25.78%	27.09%	-1.31%
Volatility (1Y) Calculated over the trailing 1-year period	33.94%	36.50%	-2.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	35.83%	35.95%	-0.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	38.57%	40.23%	-1.66%

Dividends

VRTS vs. MBIN - Dividend Comparison

VRTS's dividend yield for the trailing twelve months is around 6.42%, more than MBIN's 0.87% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MBIN Merchants Bancorp	0.87%	1.17%	0.99%	0.75%	1.15%	0.76%	1.16%	1.42%	1.20%	0.25%	0.00%	0.00%
VRTS Virtus Investment Partners, Inc.	6.42%	5.61%	3.60%	2.83%	3.21%	1.33%	1.30%	1.91%	2.39%	1.56%	1.52%	1.53%

Financials

VRTS vs. MBIN - Profitability Comparison

The chart below illustrates the profitability comparison between Virtus Investment Partners, Inc. and Merchants Bancorp over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

VRTS - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Virtus Investment Partners, Inc. reported a gross profit of 131.82M and revenue of 186.04M. Therefore, the gross margin over that period was 70.9%.

MBIN - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Merchants Bancorp reported a gross profit of 0.00 and revenue of 270.51M. Therefore, the gross margin over that period was 0.0%.

VRTS - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Virtus Investment Partners, Inc. reported an operating income of 5.23M and revenue of 186.04M, resulting in an operating margin of 2.8%.

MBIN - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Merchants Bancorp reported an operating income of 0.00 and revenue of 270.51M, resulting in an operating margin of 0.0%.

VRTS - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Virtus Investment Partners, Inc. reported a net income of 7.13M and revenue of 186.04M, resulting in a net margin of 3.8%.

MBIN - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Merchants Bancorp reported a net income of 67.73M and revenue of 270.51M, resulting in a net margin of 25.0%.

Frequently Asked Questions

Can I hold both VRTS and MBIN in my portfolio?

VRTS and MBIN have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VRTS or MBIN?

VRTS has higher volatility (9.74%) compared to MBIN (6.16%). In terms of maximum drawdown, VRTS dropped -74.36% vs MBIN's -53.77%.

Which has better risk-adjusted returns?

MBIN currently has the higher Sharpe Ratio (1.38 vs -0.22), 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.