NCV vs GMF

Comparison between Virtus Convertible & Income Fund (NCV, ETF) and STATE STREET(R) SPDR(R) S&P(R) EMERGING ASIA PACIFIC ETF (GMF, ETF).

5-Year PerformanceGMF has outperformed NCV, delivering a return of +5.7% compared to +4.6%

NCV vs GMF - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	NCV(ETF)	GMF(ETF)
Net Assets	$438M	$438M
Expense Ratio	N/A	0.49%
Max Drawdown	84.83%	67.62%
Sharpe Ratio	1.58	0.83
5Y Beta	0.73	0.79
5Y Dividends CAGR	-4.36%	3.79%

Net Assets

NCV

$438M

GMF

$438M

Expense Ratio

NCV

N/A

GMF

0.49%

Max Drawdown

NCV

84.83%

Winner

GMF

67.62%

Sharpe Ratio

Winner

NCV

1.58

GMF

0.83

5Y Beta

Winner

NCV

0.73

GMF

0.79

5Y Dividends CAGR

NCV

-4.36%

Winner

GMF

3.79%

NCV vs GMF - Historical Returns

Returns include dividend reinvestment.

Period	NCV	GMF
1 month	-2.57%	-2.34%
3 months	+4.77%	+3.45%
6 months	+10.17%	+5.36%
1 year	+30.27%	+16.75%
5 years(CAGR)	+4.55%	+5.75%
10 years(CAGR)	+7.01%	+9.09%
Max(CAGR)	+6.50%	+7.09%

NCV

-2.57%

Winner

GMF

-2.34%

Winner

NCV

+4.77%

GMF

+3.45%

Winner

NCV

+10.17%

GMF

+5.36%

Winner

NCV

+30.27%

GMF

+16.75%

5Y(CAGR)

NCV

+4.55%

Winner

GMF

+5.75%

10Y(CAGR)

NCV

+7.01%

Winner

GMF

+9.09%

Max(CAGR)

NCV

+6.50%

Winner

GMF

+7.09%

NCV vs GMF - Annual Returns (2003 - 2026)

Returns include dividend reinvestment.

Year	NCV	GMF
2026	+16.00%	+6.53%
2025	+22.91%	+22.11%
2024	+16.54%	+18.25%
2023	+13.01%	+6.69%
2022	-33.85%	-19.66%
2021	+11.44%	-2.58%
2020	+12.09%	+22.19%
2019	+20.19%	+20.09%
2018	-16.72%	-16.14%
2017	+23.13%	+40.53%
2016	+28.60%	+8.09%
2015	-32.82%	-8.55%
2014	+8.50%	+12.46%
2013	+21.81%	-0.45%
2012	+9.97%	+16.77%
2011	-7.46%	-20.38%
2010	+25.26%	+16.74%
2009	+112.18%	+63.86%
2008	-58.08%	-47.80%
2007	-16.53%	+42.90%
2006	+21.89%	N/A
2005	+0.06%	N/A
2004	+14.67%	N/A
2003	+18.55%	N/A

NCV vs GMF Drawdown Comparison

The maximum drawdown for NCV was -78.88%, occurring on Nov 21, 2008. Recovery took 917 trading sessions.

The maximum drawdown for GMF was -67.19%, occurring on Nov 20, 2008. Recovery took 1692 trading sessions.

The current NCV drawdown is -4.12%. The current GMF drawdown is -5.75%.

Rank	NCV	GMF
#1	-78.88% Jun 5, 2007 - Jan 24, 2011	-67.19% Oct 31, 2007 - Jul 24, 2014
#2	-56.13% Feb 13, 2020 - Dec 7, 2020	-40.17% Feb 17, 2021 - Jul 23, 2025
#3	-47.95% Jul 3, 2014 - Oct 6, 2017	-31.24% Jan 26, 2018 - Aug 5, 2020
#4	-44.60% Nov 5, 2021 - Nov 10, 2025	-30.66% Apr 27, 2015 - May 25, 2017
#5	-30.39% Sep 14, 2018 - Feb 10, 2020	-16.46% Jul 23, 2007 - Sep 4, 2007
#6	-27.22% Apr 4, 2011 - Sep 12, 2012	-12.62% Feb 25, 2026 - May 5, 2026
#7	-15.11% Feb 10, 2004 - Sep 7, 2004	-10.51% Sep 5, 2014 - Apr 2, 2015
#8	-12.69% Dec 30, 2004 - Jul 28, 2005	-7.01% Jun 22, 2026 - Jul 17, 2026
#9	-11.98% Oct 8, 2012 - Jan 23, 2013	-5.66% Aug 28, 2020 - Oct 8, 2020
#10	-11.39% Feb 11, 2026 - Apr 9, 2026	-5.62% Oct 17, 2007 - Oct 26, 2007
#11	-11.17% May 21, 2013 - Oct 17, 2013	-5.60% Jun 2, 2026 - Jun 18, 2026
#12	-8.21% Feb 10, 2021 - Jun 1, 2021	-5.51% Nov 22, 2017 - Jan 2, 2018
#13	-8.02% Jul 11, 2003 - Oct 3, 2003	-5.47% Oct 29, 2025 - Jan 2, 2026
#14	-7.53% Jul 7, 2021 - Aug 31, 2021	-5.07% Jan 25, 2021 - Feb 8, 2021
#15	-7.40% Sep 8, 2005 - Jan 6, 2006	-4.71% May 6, 2026 - May 26, 2026

Correlation

Correlation between NCV and GMF is 0.92 which considered as a very strong positive correlation - the stocks move almost identically together.

0.92

-101

Dividend Comparison (2003 - 2026)

NCV vs GMF dividend yield comparison.

Year	NCV	GMF
2026	5.69%	0.43%
2025	10.77%	1.49%
2024	11.76%	1.92%
2023	12.86%	2.75%
2022	15.00%	2.54%
2021	8.75%	2.71%
2020	9.41%	1.32%
2019	11.61%	1.75%
2018	15.03%	2.26%
2017	11.10%	1.70%
2016	12.23%	2.49%
2015	17.69%	3.76%
2014	11.46%	1.55%
2013	11.12%	2.18%
2012	12.43%	1.77%
2011	13.34%	3.94%
2010	12.23%	4.44%
2009	10.68%	0.98%
2008	26.94%	1.33%
2007	12.30%	1.31%
2006	10.49%	0.00%
2005	14.76%	0.00%
2004	13.92%	0.00%
2003	6.70%	0.00%