Virtus Convertible & Income Fund II:NCZ

    Manage Alerts

    Overview

    As of 12/24/2024

     Share
    Price
    NAVPremium/
    Discount
    Current$3.18$3.49-8.36%
    52 Wk Avg$2.98$3.34-10.93%
    52 Wk High$3.36$3.68-6.19%
    52 Wk Low$2.70$3.13-14.63%
    Regular Distribution TypeIncome Only
    Distribution Rate11.32%
    Distribution Amount$0.0300
    Distribution FrequencyMonthly
    Past performance is no guarantee of future results.

    Basic Information

    Investment Objective

    The Funds investment objective is to provide total return through a combination of capital appreciation and high current income. The fund seeks to achieve it's objective by identifying potential investments that it expects will exceed minimum credit statistics and exhibit the highest visibility of future expected operating performance.

    Capital Structure

    As of 12/24/2024

    Total Investment Exposure:$419.825M
    Total Common Assets:$264.122M
    Common Shares Outstanding:76,115,749
    Leverage

    As of 12/25/2024

    Preferred Share Assets: $109.000M
    Total Debt (USD): $46.703M
    Regulatory Leverage (USD): $155.703M
    Effective Leverage (USD): $155.703M
    Effective Leverage (%): 37.09%
    Annual Expense Ratios

    As of 1/31/2024

      Per Common Share
    Management Fees1.16%
    Other Expenses:0.16%
    Baseline Expense: N/A
    Interest Expense:1.42%
    Total: 2.74%
    Fund Management

    Fund Sponsor
    Virtus Investment Advisers, Inc.

    Portfolio Managers
    David Oberto, Ethan Turner, Justin M. Kass

    Basics
    Category: Fixed Income - Taxable-Convertibles
    Ticker: NCZ
    NAV Ticker: XNCZX
    Average Daily Volume (shares): 482,796
    Average Daily Volume (USD): $1.432M
    Inception Date: 7/31/2003
    Inception Share Price: $15.00
    Inception NAV: $14.33
    Tender Offer: No
    Term: No
    Fiscal Year End: January 31
    Third Party Links & Reports

    Distributions

    As of 12/24/2024

    Past performance is no guarantee of future results.
    Distribution History

    Enter declared start and end dates to display distribution history below. Income, Long Gain, Short Gain and ROC breakdowns will only be shown for the past year.

    Declared Date Payable Date Ex Date Distrib Amount Income Long Gain Short Gain ROC

    *Indicates a Special Distribution: A distribution disbursed in addition to the normal distributions paid out by the company.

    Key Information Regarding Distributions
    Avg. Earnings Per Share:
    As of 7/31/2024
    $0.0382
    Annualized Distribution Rate on NAV:
    As of 12/24/2024
    10.37%
    Total Return on NAV (12 months):
    As of 12/24/2024
    25.52%
    Avg. Portfolio Coupon:
    As of 12/24/2024
    4.18%
    Total % Portfolio Effectively Leveraged:
    As of 12/24/2024
    37.09%

    Pricing Information

    Premium/Discount Information
    Past performance is no guarantee of future results.
    Premium/Discount Information

    As of 12/26/2024

    PeriodAvg Discount
    6 Month-9.64%
    1 Year-10.93%
    3 Year-11.37%
    5 Year-10.21%
    Z-Score

    As of 12/25/2024

    PeriodZStat
    3 Month0.51
    6 Month0.97
    1 Year1.51
    Pricing History
    Date NAV Premium / Discount

    Performance

    Calendar Year Total Returns

    As of 11/30/2024
    Category: Morningstar US CEF Convertibles

    Past 20 Years

    Return YearPriceNAVCategory - PriceCategory - NAV
    YTD24.80%17.14%24.43%16.11%
    202317.68%13.68%13.00%11.93%
    2022-35.95%-31.00%-29.07%-25.53%
    20219.24%6.32%13.98%5.77%
    202011.14%20.21%25.59%32.33%
    201927.54%24.03%33.46%25.30%
    2018-18.13%-11.64%-10.90%-6.14%
    201722.06%11.25%18.81%12.46%
    201629.13%23.12%17.56%11.29%
    2015-35.37%-16.39%-13.28%-6.40%
    201411.10%1.32%4.99%1.66%
    201328.14%24.33%20.17%19.89%
    201214.43%22.88%13.75%15.53%
    2011-5.48%-3.80%  
    201026.51%20.18%  
    2009145.36%95.64%  
    2008-60.76%-57.95%  
    2007-13.16%3.07%  
    200626.90%13.99%  
    2005-0.36%2.99%  
    200413.91%13.15%  
    Past performance is no guarantee of future results.
    Annualized Total Returns

    Returns for periods less than one year are cumulative rather than annualized

    As of 11/30/2024
    Category: Morningstar US CEF Convertibles

    Past performance is no guarantee of future results.

    Portfolio Characteristics

    Portfolio Characteristics
    Average Coupon:
    As of 12/24/2024
    4.18%
    Number of Holdings:
    As of 11/30/2024
    218
    Annual Portfolio Turnover:
    As of 1/31/2024
    108.00%
    Average Bond Price:
    As of 11/30/2024
    $106.40
    Asset Allocation

    As of 11/30/2024

    Top Sectors

    As of 11/30/2024

    Sector%Portfolio
    Corporate (Super Sector)149.28%
    Convertible84.60%
    Corporate Bond56.43%
    Preferred Stock8.24%
    Defensive (Super Sector)1.22%
    Utilities0.72%
    Healthcare0.50%
    Financial Services0.13%
    Cyclical (Super Sector)0.13%
    Cash Equivalents-50.65%
    Top Holdings

    As of 11/30/2024

    HoldingValue% Portfolio
    Wells Fargo & Co 7 1/2 % Non Cum Perp Conv Pfd Shs -A- Series -L-$7.84M2.82%
    PG&E Corporation 4.25%$6.62M2.38%
    Uber Technologies Inc$5.71M2.05%
    Welltower OP LLC 3.125%$5.35M1.93%
    Microstrategy Incorporated$5.25M1.89%
    Southern Co. 3.875%$5.14M1.85%
    Affirm Holdings Inc$5.06M1.82%
    Zillow Group Inc 2.75%$4.85M1.75%
    Boeing Co 6% PRF CONVERT 15/10/2027 USD 50 - Dep Rep 1/20th Sr A$4.22M1.52%
    NextEra Energy Capital Holdings Inc 3%$4.02M1.45%
    Credit Quality

    As of 11/30/2024

    Maturity Breakdown

    As of 11/30/2024

    Country Allocation

    As of 11/30/2024

    Country% Portfolio
    United States - Fixed Income51.31%
    Canada - Fixed Income3.17%
    United States - Equity1.35%
    United Kingdom - Fixed Income1.06%
    Finland - Fixed Income0.58%
    Netherlands - Fixed Income0.30%

    Closed-end fund historical distribution sources have included net investment income, realized gains, and return of capital. For more detailed information on the distributions of a specific fund, please visit the sponsor's website.

    NOTES:

    Distribution type sourced from Morningstar. For specific information about a fund's distribution sources, visit the fund sponsor's website.

    The following information applies to closed-end funds in general: Fund shares are not guaranteed or endorsed by any bank or other insured depository institution, and are not federally insured by the Federal Deposit Insurance Corporation. Shares of closed-end funds are subject to investment risks, including the possible loss of principal invested. There can be no assurance that fund objectives will be achieved. Closed-end funds frequently trade at a discount to their net asset value. NAV returns are net of fund expenses, and assume reinvestment of distributions.

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