NCZ vs VTI
Virtus Convertible & Income Fund II vs Vanguard Morningstar Total Stock Market ETF
Quick Verdict
VTI has a lower expense ratio. NCZ delivered stronger 1-year returns. VTI offers more diversification with 3,543 holdings.
Side-by-Side Comparison
| Metric | NCZ | VTI | Winner |
|---|---|---|---|
| Expense Ratio | 1.44% | 0.03% | |
| AUM | $327M | $666.9B | |
| Dividend Yield | 8.55% | 1.07% | |
| Holdings | 220 | 3,543 | |
| YTD Return | +18.67% | +13.14% | |
| 1Y Return | +30.67% | +22.35% | |
| 3Y Return (annualized) | +23.12% | +21.83% | |
| 5Y Return (annualized) | +5.70% | +12.01% | |
| Volatility (annualized) | 25.6% | 15.3% | |
| Max Drawdown | -85.6% | -56.6% | |
| Fund Family | Virtus Investment Partners | Vanguard (US) | |
| Category | Convertible | Equity | |
| Inception | Jul 31, 2003 | May 24, 2001 |
NCZ vs VTI Performance
Virtus Convertible & Income Fund II (NCZ) is a ETF from Virtus Investment Partners and Vanguard Morningstar Total Stock Market ETF (VTI) is a ETF from Vanguard (US). Over the past year NCZ returned +30.67% while VTI returned +22.35%. Year to date, NCZ is up 18.67% versus a gain of 13.14% for VTI.
Over three years, NCZ compounded at +23.12% per year against +21.83% for VTI; over five years the annualized figures are +5.70% and +12.01% respectively. Across the full 23-year window we track, VTI has the edge at +8.09% annualized vs -3.08%. 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 15.3% for VTI. 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 -56.6% for VTI. 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 0.75. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
NCZ charges 1.44% per year while VTI 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 8.55% against 1.07% for VTI.
Holdings Overlap
NCZ and VTI share 77 holdings out of 2808 unique holdings combined, representing a 4.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, NCZ or VTI?
NCZ has an expense ratio of 1.44% while VTI charges 0.03%. VTI is the cheaper option. On a $10,000 investment, that is $141 per year of difference.
Which performed better, NCZ or VTI?
Over the past year NCZ returned +30.67% vs +22.35% for VTI, so NCZ leads on 1-year performance. Over the longest common window we track (23 years), NCZ annualized -3.08% vs +8.09% for VTI. Past performance does not guarantee future results.
Which is riskier, NCZ or VTI?
NCZ has been the more volatile fund at 25.6% annualized versus 15.3% for VTI. Worst drawdown: NCZ -85.6% vs VTI -56.6%.
Should I hold both NCZ and VTI?
NCZ and VTI have a monthly-return correlation of 0.75, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between NCZ and VTI?
NCZ and VTI share 77 common holdings with a 4.0% weight overlap. Combined, they hold 2808 unique securities.
Which pays a higher dividend, NCZ or VTI?
NCZ yields 8.55% while VTI yields 1.07%, so NCZ currently pays the higher dividend yield.
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