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Daily Price (as of 3/28/2017)

NAV Per Share: 4.95
Closing Market Price: 4.33
Premium/Discount: -12.53%

Key Stats (as of 3/28/2017)

Inception: 2/24/2005
Ticker: DCA
CUSIP: 92829A103
Net Assets: $81,497,129
Total Managed Assets: $112,997,129

Related Resources

Automatic Reinvestment


Distribution Announcements

Important Tax Information

SEC 19A Notices

News Releases/Communications

Form 8937: Organizational Actions


Virtus Total Return Fund

Contact Us

Contact your financial representative for more information.

Email or call for service at

Investment Opportunity

Invested in a balance of approximately 60% equity and 40% fixed income, the Fund's objective is total return, consisting of both capital appreciation and current income. The equity portion of the Fund invests globally in owners/operators of infrastructure in the communications, utility, energy, and transportation industries. The fixed income portion of the Fund is designed to generate high current income and total return through the application of extensive credit research and a time-tested approach that seeks to capitalize on opportunities across undervalued sectors of the bond market. The Fund pursues an options income strategy whereby it purchases and sells out-of-the money puts and calls, creating an options spread.

Management Team

Connie Luecke, CFA

Connie Luecke, CFA
Duff & Phelps Investment Management Co.
Industry start date: 1983
Start date with Fund: 2011

Randle Smith, CFA

Randle Smith, CFA
Duff & Phelps Investment Management Co.
Industry start date: 1990
Start date with Fund: 2011

David L. Albrycht, CFA

David L. Albrycht, CFA
Newfleet Asset Management, LLC
Industry start date: 1985
Start date with Fund: 2011

Performance (as of 2/28/2017)

Net Asset Value (NAV)
YTD One Year Five Years Ten Years Since Inception
6.54% 25.45% 11.68% -2.69% 0.13%
Market Price
YTD One Year Five Years Ten Years Since Inception
6.11% 37.68% 12.67% -2.90% -0.77%

Sales Charge and Expense

The fund class gross expense ratio is 2.33%.

Excluding interest expense on the line of credit, the expense ratio would have been 1.87%.

Performance reflects the deduction of fund operating expenses. Performance does not reflect the incurrence of brokerage expenses, which typically apply to exchange traded products. Total return net of brokerage expenses would be lower than the total returns on market value shown in the table.

Performance data quoted represents past results. Past performance is no guarantee of future results and current performance may be higher or lower than the performance shown. Investment return and principal value will fluctuate so your shares, when redeemed, may be worth more or less than their original cost.

Net Asset Value vs. Market Price

Net Asset Value (NAV) represents the total value of all assets held by the Fund (minus its total liabilities), divided by the total number of common shares outstanding. The net asset value reflects the performance of the manager. Market price is the price at which investors may purchase or sell shares of the Fund on the New York Stock exchange. Market price is determined in the open market by buyers and sellers, based on supply and demand. The Fund’s Market Price fluctuates throughout the day and may differ from its underlying NAV. Shares of the Fund may trade at a premium (higher than) or a discount (lower than) to NAV. The fund has no control over the stock price on the New York Stock Exchange. The difference between the market price and the NAV (Premium/Discount) is expressed as a percentage of NAV. Average annual total return is the annual compound return for the indicated period. It reflects the change in share price and the reinvestment of all dividends and capital gains.

Automatic Reinvestment Plan

This plan offers shareholders a convenient way to acquire additional shares of the fund. Registered holders will be automatically placed in the Plan. If shares are held at a brokerage firm, contact your broker about participation in the Plan.

Distribution History

Ex-Date Distribution Reinvest Price Note
1/5/2017 0.100000 4.498054
10/11/2016 0.100000 4.566440
7/7/2016 0.100000 4.633723
4/7/2016 0.100000 4.300187


There can be no assurance that the fund will achieve its investment objectives.

This information does not represent an offer, or the solicitation of an offer, to buy or sell securities of the Fund.

Contact your financial representative for more information, or email or call for service at 1-866-270-7788.

Fund Risks

Equity Securities: The market price of equity securities may be adversely affected by financial market, industry, or issuer-specific events. Focus on a particular style or on small or medium-sized companies may enhance that risk.

Credit & Interest: Debt securities are subject to various risks, the most prominent of which are credit and interest rate risk. The issuer of a debt security may fail to make interest and/or principal payments. Values of debt securities may rise or fall in response to changes in interest rates, and this risk may be enhanced with longer-term maturities.

Foreign Investing: Investing internationally involves additional risks such as currency, political, accounting, economic, and market risk.

High Yield-High Risk Fixed Income Securities: There is a greater level of credit risk and price volatility involved with high yield securities than investment grade securities.

Industry/Sector Concentration: A fund that focuses its investments in a particular industry or sector will be more sensitive to conditions that affect that industry or sector than a non-concentrated fund.

Leverage: When a fund leverages its portfolio, the value of its shares may be more volatile and all other risks may be compounded.

Call/Put Spreads: Buying and selling call and put option spreads on the SPX Index risks the loss of the premium when buying, can limit upside participation and increase downside losses.

Market Price/NAV: At the time of purchase and/or sale, an investor's shares may have a market price that is above or below the fund's NAV, which may increase the investor's risk of loss.