NCZ vs VOO
Virtus Convertible & Income Fund II vs Vanguard S&P 500 ETF
Quick Verdict
VOO has a lower expense ratio. NCZ delivered stronger 1-year returns. VOO offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | NCZ | VOO | Winner |
|---|---|---|---|
| Expense Ratio | 1.44% | 0.03% | |
| AUM | $321M | $979.0B | |
| Dividend Yield | 8.16% | 1.09% | |
| Holdings | 220 | 509 | |
| YTD Return | +22.27% | +13.72% | |
| 1Y Return | +33.30% | +21.63% | |
| 3Y Return (annualized) | +22.85% | +21.55% | |
| 5Y Return (annualized) | +6.00% | +13.26% | |
| Volatility (annualized) | 25.6% | 14.1% | |
| Max Drawdown | -85.6% | -34.3% | |
| Fund Family | Virtus Investment Partners | Vanguard (US) | |
| Category | Convertible | Equity | |
| Inception | Jul 31, 2003 | Sep 7, 2010 |
NCZ vs VOO Performance
Virtus Convertible & Income Fund II (NCZ) is a ETF from Virtus Investment Partners and Vanguard S&P 500 ETF (VOO) is a ETF from Vanguard (US). Over the past year NCZ returned +33.30% while VOO returned +21.63%. Year to date, NCZ is up 22.27% versus a gain of 13.72% for VOO.
Over three years, NCZ compounded at +22.85% per year against +21.55% for VOO; over five years the annualized figures are +6.00% and +13.26% respectively. Across the full 16-year window we track, VOO has the edge at +13.56% annualized vs -2.96%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
NCZ has been the more volatile fund, with annualized monthly volatility of 25.6% compared with 14.1% for VOO. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -85.6% for NCZ and -34.3% for VOO. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.80. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
NCZ charges 1.44% per year while VOO charges 0.03%. On a $10,000 position that is $144 vs $3 annually, a gap of $141 per year that compounds over a long holding period. On income, NCZ currently yields 8.16% against 1.09% for VOO.
Holdings Overlap
NCZ and VOO share 27 holdings out of 575 unique holdings combined, representing a 3.5% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, NCZ or VOO?
NCZ has an expense ratio of 1.44% while VOO charges 0.03%. VOO is the cheaper option. On a $10,000 investment, that is $141 per year of difference.
Which performed better, NCZ or VOO?
Over the past year NCZ returned +33.30% vs +21.63% for VOO, so NCZ leads on 1-year performance. Over the longest common window we track (16 years), NCZ annualized -2.96% vs +13.56% for VOO. Past performance does not guarantee future results.
Which is riskier, NCZ or VOO?
NCZ has been the more volatile fund at 25.6% annualized versus 14.1% for VOO. Worst drawdown: NCZ -85.6% vs VOO -34.3%.
Should I hold both NCZ and VOO?
NCZ and VOO have a monthly-return correlation of 0.80, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between NCZ and VOO?
NCZ and VOO share 27 common holdings with a 3.5% weight overlap. Combined, they hold 575 unique securities.
Which pays a higher dividend, NCZ or VOO?
NCZ yields 8.16% while VOO yields 1.09%, so NCZ currently pays the higher dividend yield.
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