NCZ vs DSM

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

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

NCZ vs DSM - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

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

Net Assets

NCZ

$321M

Winner

DSM

$321M

Max Drawdown

NCZ

85.64%

Winner

DSM

53.69%

Sharpe Ratio

Winner

NCZ

1.85

DSM

1.07

5Y Beta

NCZ

0.80

Winner

DSM

0.19

5Y Dividends CAGR

Winner

NCZ

-1.12%

DSM

-4.74%

NCZ vs DSM - Historical Returns

Returns include dividend reinvestment.

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

NCZ

+0.30%

Winner

DSM

+0.42%

Winner

NCZ

+9.83%

DSM

+1.29%

Winner

NCZ

+14.78%

DSM

+3.50%

Winner

NCZ

+38.62%

DSM

+14.94%

5Y(CAGR)

Winner

NCZ

+5.92%

DSM

-1.46%

10Y(CAGR)

Winner

NCZ

+8.61%

DSM

+1.25%

Max(CAGR)

Winner

NCZ

+6.00%

DSM

+5.15%

NCZ vs DSM - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

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

NCZ vs DSM Drawdown Comparison

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

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

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

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

Correlation

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

0.87

-101

Dividend Comparison (1999 - 2026)

NCZ vs DSM dividend yield comparison.

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