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Mutual Fund Asset Allocation

Tactical Allocation

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Ticker
NAINX
CUSIP
92828N791
POP
$ (as of )
Inception
09/06/1940
Total Assets by Class
$669,767,118.18 (as of 09/25/2020)
Total Assets by Fund
$707,471,810.47 (as of 09/25/2020)
Morningstar Category
Allocation--50% to 70% Equity

Portfolio Overview

Investment Overview

The Fund seeks to achieve both capital appreciation and current income through a dynamic allocation to a portfolio of global stocks and bonds. Disciplined fundamental analysis is employed to construct a diversified portfolio typically allocated to U.S. equity (25%-60%), non-U.S. equity (5%-30%), and bonds (35%-60%).

Management Team

Investment Partners

Kayne Anderson Rudnick Investment Management, LLC

Kayne Anderson Rudnick believes that superior risk-adjusted returns may be achieved through investment in high-quality companies with market dominance, excellent management, financial strength, and consistent growth, purchased at reasonable prices.


Learn more about Kayne Anderson Rudnick Investment Management, LLC

Newfleet Asset Management, LLC

Newfleet Asset Management leverages the knowledge and skill of a team of investment professionals with expertise in every sector of the bond market, including evolving, specialized, and out-of-favor sectors. The team employs active sector rotation and disciplined risk management to portfolio construction.


Learn more about Newfleet Asset Management, LLC

Investment Professionals

Douglas S. Foreman, CFA

Chief Investment Officer

Industry start date: 1986
Start date as fund Portfolio Manager: 2016

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Craig Thrasher, CFA

Portfolio Manager and Senior Research Analyst

Industry start date: 2003
Start date as fund Portfolio Manager: 2019

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Hyung Kim

Portfolio Manager and Senior Research Analyst

Industry start date: 2004
Start date as fund Portfolio Manager: 2019

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David L. Albrycht, CFA

President and Chief Investment Officer

Industry start date: 1985
Start date as fund Portfolio Manager: 2011

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Key Features

Tactically Balances Risk and Reward

Leverages diverse investment expertise from across Virtus to deliver a portfolio that opportunistically adjusts underlying allocations based on changing market conditions

Global Equity Exposure

Extensive fundamental research guides discrete, actively managed investment styles in the U.S. equity and international equity allocations

Multi-Sector Fixed Income Exposure

Employs a time-tested approach of active sector rotation, extensive credit research, and disciplined risk management

Portfolio Characteristics

Top Holdings (% Fund)

(as of 06/30/2020)
Security
Amazon.com Inc
5.02
 5.02%
Facebook Inc
2.98
 2.98%
Alibaba Group Holding Ltd
2.74
 2.74%
Bill.Com Holdings Inc
2.57
 2.57%
NVIDIA Corp
2.43
 2.43%
Visa Inc
2.39
 2.39%
Netflix Inc
2.28
 2.28%
United States Treasury Note/Bond, 3.0000% 08/15/2048
2.18
 2.18%
Paycom Software Inc
2.11
 2.11%
Avalara Inc
1.87
 1.87%

Holdings are subject to change.

Holdings are subject to change.

Characteristics4

(as of 06/30/2020)
Average Weighted Market Cap (billions) $238.24
Median Market Cap (billions) $9.79
Trailing P/E Ex-Negative Earnings 37.10
Price-to-Cash Flow 24.99
Price-to-Book Value 6.15
3-Year EPS Growth Rate 29.36

Sector Allocation (% Equity)

(as of 06/30/2020)

Performance & Risk

Growth of $10,000 Investment

From to

This chart assumes an initial investment of $10,000 made on for Class ddd shares including any applicable sales charges. Performance assumes reinvestment of dividends and capital gain distributions.

Performance

As of
As of
YTD 3 Month 1 Year 3 Years 5 Years 10 Years Since Inception

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.

Sales Charge and Expenses

Please view the Fund’s Section 19-a notices, which set forth information regarding the composition of the distributions, including any portion that may constitute a return of capital.

Risk Statistics3

(as of )
Fund Index
R2
Beta
Alpha
Std Dev

Risk Considerations

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 & Emerging Markets: Investing internationally, especially in emerging markets, involves additional risks such as currency, political, accounting, economic, and market risk.
Allocation: The fund's exposure to different asset classes may not be optimal for market conditions at a given time. Asset allocation does not guarantee a profit or protect against a loss in declining markets.
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.
Market Volatility: Local, regional, or global events such as war, acts of terrorism, the spread of infectious illness or other public health issues, recessions, or other events could have a significant impact on the portfolio and its investments, including hampering the ability of the portfolio manager(s) to invest the portfolio's assets as intended.
Prospectus: For additional information on risks, please see the fund's prospectus.

Documents & Resources

Marketing Materials

Virtus Tactical Allocation Fund Fact Sheet - I
Virtus Tactical Allocation Fund Fact Sheet - A

Financial Materials

Virtus Equity Trust Statutory Prospectus
Virtus Tactical Allocation Fund Summary Prospectus
Virtus Equity Trust Prospectus Supplement XBRL 497E 03 18 2020
Virtus Equity Trust Prospectus Supplement XBRL 497E 01 29 2020
Virtus Equity Trust Prospectus XBRL 485B 01 28 2020
Virtus Equity Trust SAI
Virtus Tactical Allocation Fund Annual Report
Virtus Tactical Allocation Semiannual Report

Holdings

Virtus Tactical Allocation Quarterly Holdings
Virtus Tactical Allocation Fund Top Holdings

Investors should carefully consider the investment objectives, risks, charges and expenses of any Virtus Mutual Fund before investing. The prospectus and summary prospectus contains this and other information about the fund. Please contact your financial representative, call 1-800-243-4361 to obtain a current prospectus and/or summary prospectus. You should read the prospectus and/or summary prospectus carefully before you invest or send money.

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.

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. NAV returns do not include the effect of any applicable sales charges. POP and w/CDSC returns include the effect of maximum applicable sales charges.

Returns for periods of less than one year are cumulative total returns.

1 Yields/Distributions: 30-day SEC Yield is a standardized yield calculated according to a formula set by the SEC, and is subject to change.  30-day SEC Yield (unsubsidized) is the 30-day SEC Yield without the effect of applicable expense waivers.  Distribution Rate is calculated by (a) annualizing the latest distribution for fixed income funds or funds less than 1 year old, or (b) summing all distributions over the preceding 12 months for all other funds, and dividing the NAV on the last business date of the period.

2 Distribution History: Distributions are represented on a cash basis and may be reclassified at year end for tax purposes. The Fund will send you a Form 1099-DIV for the calendar year that will tell you how to report these distributions for federal income tax purposes. STCG: Short Term Capital Gain, LTCG: Long Term Capital Gain

3 Risk Statistics: R2 is a statistical measure that represents the percentage of a fund or security's movements that can be explained by movements in a benchmark index. Beta is a quantitative measure of the volatility of a given portfolio to the overall market. Alpha is a risk adjusted measure of an investment's excess return relative to a benchmark. A positive Alpha indicates that the investment produced a return greater than expected for the risk (as measured by Beta) taken. Standard Deviation measures variability of returns around the average return for an investment fund. Higher standard deviation suggests greater risk. Risk Statistics are calculated using 36 monthly returns.

4 Characteristics: For Equity Funds: Avg. Weighted Market Cap (bn): The total dollar market value of all of a company’s outstanding shares; Trailing P/E Ex-Negative Earnings: Per-share stock price divided by the latest 12-months Earnings per Share; Price/Cash Flow: Per-share stock price divided by the per-share operating cash flow; Price/Book: Per-share stock price divided by the latest 12-month per-share Book Value; 3-Year EPS Growth Rate: Average of earnings per share growth for latest 3-year period. The 3-Year EPS Growth Rate is not a forecast of the fund's performance.

4 Characteristics: For Fixed Income Funds: Effective Duration represents the interest rate sensitivity of a fixed income fund. For example, if a fund's effective duration is five years, a 1% increase in interest rates would result in a 5% decline in the fund's price. Similarly, a 1% decline in interest rates would result in a 5% gain in the fund's price.

Morningstar Disclosures:
The Morningstar RatingTM for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. Ratings do not take into account the effects of sales charges and loads.

© 2020 Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.