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Virtus Convertible & Income Fund II:NCZ

Overview

As of 11/22/2024. NAV as of 11/21/2024.

 Share
Price		NAVPremium/
Discount
Current$3.26$3.56-8.43%
52 Wk Avg$2.94$3.32-11.31%
52 Wk High$3.27$3.56-6.19%
52 Wk Low$2.70$3.13-14.63%
Regular Distribution Type†Income Only
Distribution Rate11.04%
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 11/22/2024

Total Investment Exposure:$426.675M
Total Common Assets:$270.972M
Common Shares Outstanding:76,115,749
Leverage

As of 11/21/2024

Preferred Share Assets: $109.000M
Total Debt (USD): $46.703M
Regulatory Leverage (USD): $155.703M
Effective Leverage (USD): $155.703M
Effective Leverage (%): 36.49%
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): 511,049
Average Daily Volume (USD): $1.505M
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 11/22/2024

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.

to
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 11/22/2024		10.11%
Total Return on NAV (12 months):
As of 11/22/2024		24.52%
Avg. Portfolio Coupon:
As of 11/22/2024		 4.20%
Total % Portfolio Effectively Leveraged:
As of 11/22/2024 		36.49%

Pricing Information

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

As of 11/22/2024

PeriodAvg Discount
6 Month-10.19%
1 Year-11.31%
3 Year-11.32%
5 Year-10.07%
Z-Score

As of 11/22/2024

PeriodZStat
3 Month0.60
6 Month1.11
1 Year1.67
Pricing History
 from  
Date NAV Premium / Discount

Performance

Calendar Year Total Returns

As of 10/31/2024
Category: Morningstar US CEF Convertibles

Past 20 Years

Return YearPriceNAVCategory - PriceCategory - NAV
YTD11.75%6.92%15.63%7.96%
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 10/31/2024
Category: Morningstar US CEF Convertibles

Past performance is no guarantee of future results.

Portfolio Characteristics

Portfolio Characteristics
Average Coupon:
As of 11/21/2024		4.20%
Number of Holdings:
As of 9/30/2024		211
Annual Portfolio Turnover:
As of 1/31/2024		108.00%
Average Bond Price:
As of 10/31/2024		$104.76
Asset Allocation

As of 9/30/2024

Top Sectors

As of 9/30/2024

Sector%Portfolio
Corporate (Super Sector)155.60%
Convertible86.29%
Corporate Bond62.80%
Preferred Stock6.51%
Defensive (Super Sector)1.21%
Utilities0.83%
Healthcare0.38%
Financial Services0.14%
Cyclical (Super Sector)0.14%
Cash Equivalents-56.96%
Top Holdings

Credit Quality

As of 10/31/2024

Maturity Breakdown

As of 10/31/2024

Country Allocation

As of 9/30/2024

Country% Portfolio
United States - Fixed Income56.59%
Canada - Fixed Income3.43%
United Kingdom - Fixed Income1.83%
United States - Equity1.35%
Finland - Fixed Income0.63%
Netherlands - Fixed Income0.33%

CEFConnect.com makes data for the universe of closed-end funds available as a courtesy to its users. This material is not intended to be a recommendation or investment advice, does not constitute a solicitation to buy or sell, or hold a security or an investment strategy, and is not provided in a fiduciary capacity. The information provided does not take into account the specific objectives or circumstances of any particular investor, or suggest any specific course of action. Investment decisions should be made based on an investor's objectives and circumstances and in consultation with his or her financial professional.

NOTES:

† Distribution type sourced from Morningstar. CEFConnect.com does not undertake to disclose specific information about closed-end fund distribution sources. 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.

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