DSM vs NCZ

Comparison between BNY Mellon Strategic Municipal Bond Fund Inc (DSM, ETF) and Virtus Convertible & Income Fund II (NCZ, ETF).

5-Year PerformanceNCZ has outperformed DSM, delivering a return of +5.9% compared to -1.5%

DSM vs NCZ - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	DSM(ETF)	NCZ(ETF)
Net Assets	$321M	$321M
Max Drawdown	53.69%	85.64%
Sharpe Ratio	1.07	1.85
5Y Beta	0.19	0.80
5Y Dividends CAGR	-4.74%	-1.12%

Net Assets

Winner

DSM

$321M

NCZ

$321M

Max Drawdown

Winner

DSM

53.69%

NCZ

85.64%

Sharpe Ratio

DSM

1.07

Winner

NCZ

1.85

5Y Beta

Winner

DSM

0.19

NCZ

0.80

5Y Dividends CAGR

DSM

-4.74%

Winner

NCZ

-1.12%

DSM vs NCZ - Historical Returns

Returns include dividend reinvestment.

Period	DSM	NCZ
1 month	+0.42%	+0.30%
3 months	+1.29%	+9.83%
6 months	+3.50%	+14.78%
1 year	+14.94%	+38.62%
5 years(CAGR)	-1.46%	+5.92%
10 years(CAGR)	+1.25%	+8.61%
Max(CAGR)	+5.15%	+6.00%

Winner

DSM

+0.42%

NCZ

+0.30%

DSM

+1.29%

Winner

NCZ

+9.83%

DSM

+3.50%

Winner

NCZ

+14.78%

DSM

+14.94%

Winner

NCZ

+38.62%

5Y(CAGR)

DSM

-1.46%

Winner

NCZ

+5.92%

10Y(CAGR)

DSM

+1.25%

Winner

NCZ

+8.61%

Max(CAGR)

DSM

+5.15%

Winner

NCZ

+6.00%

DSM vs NCZ - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

Year	DSM	NCZ
2026	+0.60%	+14.62%
2025	+10.70%	+23.56%
2024	+4.98%	+19.58%
2023	+3.00%	+16.86%
2022	-27.37%	-35.66%
2021	+11.90%	+10.11%
2020	+3.37%	+11.35%
2019	+18.05%	+22.29%
2018	-13.10%	-18.47%
2017	+12.39%	+23.36%
2016	+4.71%	+29.64%
2015	+7.30%	-34.67%
2014	+15.36%	+10.11%
2013	-16.99%	+24.09%
2012	+14.93%	+9.02%
2011	+24.19%	-6.63%
2010	+5.63%	+25.37%
2009	+45.32%	+111.32%
2008	-24.63%	-61.60%
2007	-13.34%	-12.60%
2006	+23.72%	+22.86%
2005	+1.31%	+0.13%
2004	+4.76%	+12.68%
2003	+18.37%	+6.87%
2002	+2.05%	N/A
2001	+3.76%	N/A
2000	+23.02%	N/A
1999	-6.54%	N/A

DSM vs NCZ Drawdown Comparison

The maximum drawdown for DSM was -49.10%, occurring on Oct 10, 2008. Recovery took 691 trading sessions.

The maximum drawdown for NCZ was -79.41%, occurring on Nov 21, 2008. Recovery took 926 trading sessions.

The current DSM drawdown is -11.86%. The current NCZ drawdown is -3.77%.

Rank	DSM	NCZ
#1	-49.10% May 4, 2007 - Feb 1, 2010	-79.41% Jun 4, 2007 - Feb 3, 2011
#2	-38.73% Aug 3, 2021 - Oct 25, 2023	-56.04% Feb 19, 2020 - Dec 4, 2020
#3	-31.97% Nov 6, 2019 - May 5, 2021	-50.80% Jul 3, 2014 - Jun 8, 2018
#4	-23.32% Jan 9, 2013 - Dec 21, 2015	-43.93% Nov 8, 2021 - Sep 10, 2025
#5	-17.18% Oct 1, 2010 - Aug 31, 2011	-30.38% Sep 14, 2018 - Feb 18, 2020
#6	-16.59% Aug 2, 2017 - May 9, 2019	-26.78% Jun 3, 2011 - Sep 12, 2012
#7	-16.42% Feb 18, 2004 - Nov 3, 2004	-17.42% Apr 2, 2004 - Sep 13, 2004
#8	-13.68% Jul 8, 2005 - Aug 16, 2006	-13.07% Oct 8, 2012 - Jan 25, 2013
#9	-12.71% Sep 30, 2002 - Mar 4, 2003	-11.95% Feb 13, 2026 - Apr 9, 2026
#10	-12.32% Nov 12, 1999 - Jan 28, 2000	-11.62% Dec 28, 2004 - Jul 14, 2005
#11	-12.03% Aug 13, 2001 - Jul 1, 2002	-8.85% Feb 12, 2021 - Jun 11, 2021
#12	-11.60% Sep 28, 2016 - Jul 12, 2017	-8.61% May 20, 2013 - Oct 11, 2013
#13	-11.55% Jun 16, 2003 - Jan 7, 2004	-7.41% Sep 6, 2005 - Jan 10, 2006
#14	-8.87% Jan 28, 2000 - Apr 4, 2000	-6.84% Mar 9, 2011 - May 27, 2011
#15	-7.89% Sep 30, 2011 - Dec 6, 2011	-6.39% Nov 3, 2025 - Dec 24, 2025

Correlation

Correlation between DSM and NCZ is 0.87 which considered as a strong positive correlation - the stocks tend to move together.

0.87

-101

Dividend Comparison (1999 - 2026)

DSM vs NCZ dividend yield comparison.

Year	DSM	NCZ
2026	2.08%	3.91%
2025	4.07%	10.45%
2024	3.72%	11.50%
2023	4.27%	12.84%
2022	5.95%	15.62%
2021	4.31%	8.82%
2020	4.57%	9.28%
2019	5.19%	11.28%
2018	6.11%	15.33%
2017	5.82%	13.80%
2016	6.19%	12.08%
2015	6.17%	18.02%
2014	7.71%	11.45%
2013	7.68%	11.36%
2012	6.60%	12.86%
2011	6.56%	12.96%
2010	7.22%	12.38%
2009	6.09%	12.41%
2008	8.38%	27.60%
2007	6.37%	12.97%
2006	5.39%	10.52%
2005	7.15%	12.68%
2004	7.19%	9.87%
2003	6.90%	3.76%
2002	6.94%	0.00%
2001	6.67%	0.00%
2000	6.94%	0.00%
1999	1.36%	0.00%