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Trending ETFs

Virtus Small-Cap Fund

mutual fund
AZBAX
Payout Change
Pending
Price as of:
$22.85 +0.19 +0.84%
primary theme
U.S. Small-Cap Blend Equity
AZBAX (Mutual Fund)

Virtus Small-Cap Fund

Payout Change
Pending
Price as of:
$22.85 +0.19 +0.84%
primary theme
U.S. Small-Cap Blend Equity
AZBAX (Mutual Fund)

Virtus Small-Cap Fund

Payout Change
Pending
Price as of:
$22.85 +0.19 +0.84%
primary theme
U.S. Small-Cap Blend Equity

Name

As of 05/24/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Virtus Small-Cap Fund

AZBAX | Fund

$22.85

$93 M

0.69%

$0.16

1.29%

Vitals

YTD Return

6.7%

1 yr return

17.6%

3 Yr Avg Return

1.1%

5 Yr Avg Return

8.6%

Net Assets

$93 M

Holdings in Top 10

17.1%

52 WEEK LOW AND HIGH

$22.7
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.29%

SALES FEES

Front Load 5.50%

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A


Min Investment

Standard (Taxable)

$2,500

IRA

$100


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 05/24/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Virtus Small-Cap Fund

AZBAX | Fund

$22.85

$93 M

0.69%

$0.16

1.29%

AZBAX - Profile

Distributions

  • YTD Total Return 6.7%
  • 3 Yr Annualized Total Return 1.1%
  • 5 Yr Annualized Total Return 8.6%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio -0.17%
DIVIDENDS
  • Dividend Yield 0.7%
  • Dividend Distribution Frequency SemiAnnual

Fund Details

  • Legal Name
    Virtus Small-Cap Fund
  • Fund Family Name
    Allianz Funds
  • Inception Date
    Aug 22, 2018
  • Shares Outstanding
    N/A
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Kunal Ghosh

Fund Description

The fund seeks to achieve its objective by normally investing at least 80% of its net assets (plus borrowings made for investment purposes) in companies with smaller market capitalizations. The fund expects to invest principally in U.S. companies but may invest to a lesser extent in non-U.S. companies. The fund currently considers smaller market capitalization companies to be companies with market capitalizations that are smaller than the largest company in the fund’s benchmark, the Russell 2000 Index (approximately $13.1 billion as of June 30, 2023). The fund’s principal investment universe includes micro-cap companies, which the portfolio managers consider to be those with market capitalizations generally in the bottom half of the benchmark. The portfolio managers generally seek exposure to smaller capitalization companies, including micro-cap companies, by employing three distinct small-cap strategies or “sleeves” for selecting individual stocks:

Quantitative Core. The Quantitative Core sleeve normally invests primarily in common stocks of companies with smaller market capitalizations that are listed on U.S. exchanges. The team’s quantitative investment process begins with a proprietary alpha model which blends behavioral factors (e.g., human behaviors and biases) and intrinsic valuation factors (e.g., tangible measures of a company’s underlying worth). The team utilizes a risk model for portfolio construction, with constraints at the individual security and industry levels to manage exposures relative to the benchmark. Additionally, all investment recommendations are thoroughly vetted at the individual company level to confirm the investment rationale and suitability before a purchase or sale.

Quantitative Growth. The growth sleeve is managed similar to the core sleeve but against a growth index. This sleeve normally invests primarily in common stocks of companies with smaller market capitalizations that are listed on U.S. exchanges. The team’s quantitative investment process begins with a proprietary alpha model which blends behavioral factors (e.g., human behaviors and biases) and intrinsic valuation factors (e.g., tangible measures of a company’s underlying worth). The team utilizes a risk model for portfolio construction, with constraints at the individual security and industry levels to manage exposures relative to the benchmark. Additionally, all investment recommendations are thoroughly vetted at the individual company level to confirm the investment rationale and suitability before a purchase or sale.

Managed Volatility. The Managed Volatility sleeve selects primarily common stocks of smaller-cap companies which in aggregate offer lower forecast risk and lower levels of correlation among the individual stocks. This focus may result in the sleeve outperforming the general securities market during periods of flat or negative market performance, and underperforming the general securities market during periods of strong positive market performance. This strategy utilizes both a quantitative and fundamental research process to make individual security and sector selection decisions.

The allocation of fund assets among the sleeves discussed above is set from time to time, may vary in size significantly from sleeve to sleeve and may periodically be adjusted through a collaborative effort among the portfolio managers. In addition to common stocks and other equity securities, the fund may invest a substantial portion of its assets in securities issued in initial public offerings (IPOs). The fund may invest up to 15% of its assets in non-U.S. securities, except that it may invest without limit in American Depositary Receipts (ADRs). The fund may also invest a portion of its assets in real estate investment trusts (REITs). In order to gain exposure to desired asset classes or securities, or for hedging or other investment purposes, the fund may also utilize foreign currency exchange contracts, options, stock index futures contracts, warrants and other derivative instruments. Although the fund did not invest significantly in derivative instruments as of the end of its most recent fiscal year, it may do so at any time.

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AZBAX - Performance

Return Ranking - Trailing

Period AZBAX Return Category Return Low Category Return High Rank in Category (%)
YTD 6.7% -10.1% 28.0% 18.37%
1 Yr 17.6% -7.2% 61.5% 62.15%
3 Yr 1.1%* -9.9% 40.8% 46.02%
5 Yr 8.6%* -12.6% 32.8% 57.58%
10 Yr 8.2%* -2.5% 17.2% 25.79%

* Annualized

Return Ranking - Calendar

Period AZBAX Return Category Return Low Category Return High Rank in Category (%)
2023 11.2% -19.9% 29.0% 65.36%
2022 -22.3% -59.3% 118.2% 67.04%
2021 3.8% -31.6% 39.3% 72.38%
2020 16.5% -51.0% 39.5% 20.94%
2019 23.7% -5.6% 37.8% 26.33%

Total Return Ranking - Trailing

Period AZBAX Return Category Return Low Category Return High Rank in Category (%)
YTD 6.7% -10.1% 28.0% 18.37%
1 Yr 17.6% -7.2% 61.5% 62.15%
3 Yr 1.1%* -9.9% 40.8% 46.02%
5 Yr 8.6%* -12.6% 32.8% 57.58%
10 Yr 8.2%* -2.5% 17.2% 25.79%

* Annualized

Total Return Ranking - Calendar

Period AZBAX Return Category Return Low Category Return High Rank in Category (%)
2023 13.7% -11.7% 31.8% 74.67%
2022 -18.4% -45.2% 123.7% 66.48%
2021 18.9% 0.0% 47.7% 76.38%
2020 16.6% -50.5% 46.9% 34.05%
2019 23.9% 2.1% 43.7% 58.57%

NAV & Total Return History


AZBAX - Holdings

Concentration Analysis

AZBAX Category Low Category High AZBAX % Rank
Net Assets 93 M 529 K 145 B 84.63%
Number of Holdings 185 2 2454 48.33%
Net Assets in Top 10 16.3 M 120 K 9.83 B 84.26%
Weighting of Top 10 17.14% -2849.0% 100.1% 49.63%

Top 10 Holdings

  1. Taylor Morrison Home Corp 2.00%
  2. Barrett Business Services Inc 1.86%
  3. Super Micro Computer Inc 1.79%
  4. Janus International Group Inc 1.79%
  5. Prestige Consumer Healthcare Inc 1.71%
  6. Rush Enterprises Inc 1.71%
  7. BlackLine Inc 1.62%
  8. Atkore Inc 1.58%
  9. Knife River Corp 1.55%
  10. Alkermes PLC 1.53%

Asset Allocation

Weighting Return Low Return High AZBAX % Rank
Stocks
98.77% -565235.00% 108.16% 48.33%
Cash
1.23% 0.00% 565934.00% 63.15%
Preferred Stocks
0.00% 0.00% 7.53% 99.81%
Other
0.00% -598.74% 39.24% 95.56%
Convertible Bonds
0.00% 0.00% 3.17% 99.81%
Bonds
0.00% -1.96% 74.53% 99.26%

Stock Sector Breakdown

Weighting Return Low Return High AZBAX % Rank
Financial Services
16.52% 0.00% 35.52% 33.52%
Healthcare
14.03% 0.00% 26.53% 43.63%
Industrials
11.35% 2.46% 37.42% 98.31%
Technology
10.97% 0.00% 54.70% 85.02%
Consumer Cyclical
10.53% 0.99% 47.79% 60.67%
Energy
9.34% 0.00% 37.72% 7.12%
Consumer Defense
7.77% 0.00% 18.87% 6.37%
Utilities
6.72% 0.00% 18.58% 2.62%
Basic Materials
6.06% 0.00% 18.66% 19.29%
Real Estate
4.12% 0.00% 29.43% 83.71%
Communication Services
2.58% 0.00% 14.85% 53.75%

Stock Geographic Breakdown

Weighting Return Low Return High AZBAX % Rank
US
98.77% -565235.00% 108.16% 41.48%
Non US
0.00% 0.00% 91.59% 99.81%

AZBAX - Expenses

Operational Fees

AZBAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.29% 0.01% 38.45% 30.54%
Management Fee 0.60% 0.00% 1.50% 31.41%
12b-1 Fee 0.25% 0.00% 1.00% 69.11%
Administrative Fee 0.10% 0.01% 0.45% 55.95%

Sales Fees

AZBAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 5.50% 3.50% 5.75% 70.77%
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

AZBAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

AZBAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 1.00% 314.00% 86.15%

AZBAX - Distributions

Dividend Yield Analysis

AZBAX Category Low Category High AZBAX % Rank
Dividend Yield 0.69% 0.00% 42.47% 28.70%

Dividend Distribution Analysis

AZBAX Category Low Category High Category Mod
Dividend Distribution Frequency SemiAnnual Annual Quarterly Annual

Net Income Ratio Analysis

AZBAX Category Low Category High AZBAX % Rank
Net Income Ratio -0.17% -2.40% 2.49% 74.72%

Capital Gain Distribution Analysis

AZBAX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Annually Annually

Distributions History

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AZBAX - Fund Manager Analysis

Managers

Kunal Ghosh


Start Date

Tenure

Tenure Rank

Jul 01, 2013

8.92

8.9%

Mr. Ghosh is a portfolio manager and a managing director with Allianz Global Investors, which he joined in 2006. He is head of the Systematic team. Mr. Ghosh has 17 years of investment-industry experience. He was previously a research associate and portfolio manager for Barclays Global Investors, where he built and implemented models for portfolio management. Before that, Mr. Ghosh was a quantitative analyst for the Cayuga Hedge Fund. He has a B.Tech. from the Indian Institute of Technology, an M.S. in material engineering from the University of British Columbia and an M.B.A. from Cornell University.

Lu Yu


Start Date

Tenure

Tenure Rank

Aug 28, 2018

3.76

3.8%

Ms. Yu is a portfolio manager and a managing director with Allianz Global Investors, which she joined in 2003. She has portfolio-management and research responsibilities for the Systematic team. Ms. Yu has 18 years of investment-industry experience. She was previously a risk analyst for Provident Advisors LLC. Ms. Yu has a B.S. from Nanjing University, China, and an M.S. from the University of Southern California and the National University of Singapore. She is a CFA charterholder and was formerly president of the CFA Society San Diego.

Jeffrey Parker


Start Date

Tenure

Tenure Rank

Oct 07, 2020

1.65

1.7%

Mr. Parker is a senior portfolio manager, a managing director and CIO Equity US with Allianz Global Investors, which he joined in 1999. He oversees the Small Cap and Systematic Equity teams. Mr. Parker was previously head of the Growth team, and had portfolio-management responsibilities for the Large and Mid Cap Growth products. Mr. Parker has 30 years of investment industry experience. Before joining the firm, he was an assistant portfolio manager at Eagle Asset Management and a senior consultant at Andersen Consulting. Mr. Parker has a B.B.A. from University of Miami and an M.B.A. from Vanderbilt University. He is a CFA charterholder.

Mark Phanitsiri


Start Date

Tenure

Tenure Rank

Nov 05, 2020

1.57

1.6%

Mr. Phanitsiri is a vice president and portfolio manager on the Global Insights strategy with Allianz Global Investors, which he joined in 2010. He has worked on Global Insights since joining the firm and later became a technology research analyst. He is currently dedicated to the Global Insights portfolio management team. Mr. Phanitsiri has 19 years of investment-industry experience. Mr. Phanitsiri previously worked on private and public equity investments at Sageview Capital and Thoma Bravo Equity Partners. He has a B.S.E. in mechanical and aerospace engineering from Princeton University, and an M.B.A. from Harvard Business School. Mr. Phanitsiri is a CFA charterholder.

Moritz Dufner


Start Date

Tenure

Tenure Rank

Nov 05, 2020

1.57

1.6%

Mr. Dufner is a research analyst and a vice president with Allianz Global Investors, which he joined in 2014. He has portfolio management and research responsibilities for the US Small-Mid Cap team. Prior to joining the team, Mr. Dufner was a member of the firm’s global investment graduate program, conducting research analysis for equity investment teams in San Francisco and Frankfurt, Germany. He has three years of investment-industry experience. Mr. Dufner has a B.S. from the University of Tübingen, Germany, and an M.S. in banking and finance from Stockholm University School of Business, Sweden.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 49.61 7.12 2.58