ANNAX — Virtus Convertible Fund
Data updated: 2026-08-28
ANNAX — Virtus Convertible Fund. Short Preferred / Convertible Bond · $1.71B AUM · 0.93% expense ratio. Holdings, fees, performance and SEC filings.
ANNAX Fund Overview
ANNAX — Virtus Convertible Fund is a US mutual fund managed by Virtus Strategy Trust, categorised as Short Preferred / Convertible Bond. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Virtus Strategy Trust
- Category: Short Preferred / Convertible Bond
- Assets under management: $1.71B
- 1-year return: 5.9%
- Ticker: ANNAX
- SEC CIK: 0001423227
- SEC series ID: S000028359
- Share class ID: C000086663
ANNAX Investment Objective and Strategy
Virtus Convertible Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Virtus Strategy Trust.
Investment objective
The Fund seeks maximum total return, consisting of capital appreciation and current income.
Principal investment strategy
The Fund seeks to achieve its objective by normally investing at least 80% of its net assets (plus borrowings made for investment purposes) in convertible securities. Convertible securities include, but are not limited to, corporate bonds, debentures, notes or preferred stocks and their hybrids that can be converted into (exchanged for) equity securities or other securities (such as warrants or options) that provide an opportunity for equity participation. For purposes of this policy, the Fund may also gain exposure to convertible securities through derivatives or other synthetic means. The Fund may invest in securities of any size market capitalization or credit quality, and may from time to time invest a significant amount of its assets in securities of smaller companies. The Fund may also invest up to 20% of its net assets in nonconvertible debt securities rated below investment grade or unrated and determined to be of similar quality (high-yield securities or junk bonds).
The Fund may also invest in securities issued by the U.S. government and its agencies and instrumentalities. The portfolio managers follow a disciplined, fundamental bottom-up research process, which facilitates the early identification of convertible securities issuers demonstrating the ability to improve their fundamental characteristics. The portfolio managers select issuers that exceed minimum fundamental metrics and exhibit the highest visibility of future expected operating performance. The fundamental research process generally includes: a breakdown of a company and its growth by division and region, including revenue model analysis; profit margin analysis; analysis of experience and quality of its management; industry dynamics and competitive analysis; distribution channel and supply chain analysis; and macroeconomic climate analysis.
Under normal market conditions, the portfolio managers seek to invest in securities that can participate in the upside of the underlying equity and provide downside protection from the bond. In addition to gaining synthetic exposure to convertible securities through derivatives as outlined above, the Fund may 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 most recent fiscal year end, it may do so at any time.
ANNAX Holdings
Top 10 holdings of Virtus Convertible Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Alphabet, Inc. | 4.52% |
| Seagate Hdd Cayman | 2.61% |
| Western Digital Corp. | 2.54% |
| Live Nation Entertainment, Inc. | 2.36% |
| Wells Fargo & Company | 2.29% |
| Welltower Op LLC | 2.24% |
| Boeing Company (the) | 2.09% |
| Nextera Energy Capital Holdings, Inc. | 1.99% |
| Bloom Energy Corp. | 1.64% |
| Snowflake, Inc. | 1.61% |
ANNAX Portfolio Allocation
Asset-class allocation of Virtus Convertible Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Fixed Income | 82.0% |
| Equity | 13.4% |
| Cash & Equivalents | 1.4% |
ANNAX Performance
Total returns for ANNAX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | 5.9% |
| 3 years (annualised) | -4.1% |
ANNAX Risk Information
Risk metrics for ANNAX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 12.6%
ANNAX Costs and Fees
ANNAX costs about $93 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.93%
- Gross expense ratio: 1.11%
- Portfolio turnover: 130%
- Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)
ANNAX Cashflows
Over the 12 months to 2026-06, Virtus Convertible Fund had net inflows of $59.72M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-06 | $12.20M |
| 2026-05 | −$10.05M |
| 2026-04 | −$2.42M |
| 2026-03 | −$7.92M |
| 2026-02 | −$10.03M |
| 2026-01 | $13.98M |
ANNAX Debt Constituents
Largest debt holdings of Virtus Convertible Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Debt holding | % of net assets |
|---|---|
| Seagate Hdd Cayman | 2.61% |
| Western Digital Corp. | 2.54% |
| Live Nation Entertainment, Inc. | 2.36% |
| Welltower Op LLC | 2.24% |
| Nextera Energy Capital Holdings, Inc. | 1.99% |
| Bloom Energy Corp. | 1.64% |
| Snowflake, Inc. | 1.61% |
| Wec Energy Group, Inc. | 1.58% |
| Terawulf, Inc. | 1.51% |
| Akamai Technologies, Inc. | 1.44% |
ANNAX Prospectus and SEC Filings
Official Virtus Convertible Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2026-01-21
- Prospectus (485BPOS) — filed 2025-01-24
- Prospectus (485BPOS) — filed 2024-01-25
- Portfolio holdings (N-PORT) — filed 2026-08-28
- Portfolio holdings (N-PORT) — filed 2026-05-21
- Portfolio holdings (N-PORT) — filed 2026-02-26
- Annual census (N-CEN) — filed 2025-12-15
- Annual census (N-CEN) — filed 2024-12-13
Related Funds
Other Short Preferred / Convertible Bond funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.