ETF Evaluator:
Virtus Private Credit ETF ()
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(as of Aug 26)
Best Performing in Nontraditional Bond Over the Last Year
| 7.1% | Simplify Kayne Anderson Ey&InfrasCrdtETF (KNRG) |
| 6.8% | WisdomTree Interest Rt Hdg Hi Yld Bd ETF (HYZD) |
| 6.3% | ProShares High Yield—Interest Rate Hdgd (HYHG) |
| 6.0% | FolioBeyond Alt Inc and Int Rt Hdg ETF (RISR) |
| 5.6% | NEOS Enhanced Income Credit Select ETF (HYBI) |
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ETF Details
Virtus Private Credit ETF Overview
Virtus Private Credit ETF (VPC) is a passively managed Taxable Bond Nontraditional Bond exchange-traded fund (ETF). Virtus launched the ETF in 2019.
The investment seeks investment results that correspond the price and yield performance of the Indxx Private Credit Index (the "underlying index").
Under normal market conditions, the fund will invest not less than 80% of its assets in component securities of the underlying index. The underlying index is designed to track the performance of U.S.-listed, registered closed-end investment companies that have elected to be regulated as "business development companies" under the Investment Company Act of 1940, as well as U.S.-listed, non-BDC registered closed-end funds.
About Virtus Private Credit ETF (VPC)
There are 2 members of the management team with an average tenure of 7.48 years: Matthew Brown (2019) and Seth Kadushin (2019). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 2 primary benchmarks: Bloomberg US Agg Bond TR USD index with a weighting of 100% and Indxx Private Credit TR USD index with a weighting of 100%. Virtus Private Credit ETF has 59 securities in its portfolio. The top 10 holdings constitute 31.7% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
Virtus Private Credit ETF is part of the Fixed Income global asset class and is within the Taxable Bond ETF group. Virtus Private Credit ETF has 4.1% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 70.3% There is 0.2% allocated to foreign stock, and 0.2% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 19.5% (15.6% domestic bond, 3.9% foreign bond and 0.1% convertible bond). Virtus Private Credit ETF has 2.5% of the portfolio in cash.
Assets Under Management
The fund has $30 million in total assets, which is below the $320 million average for the Nontraditional Bond category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
VPC Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Virtus Private Credit ETF expense ratio is high compared to funds in the Nontraditional Bond category. Virtus Private Credit ETF has an expense ratio of 10.60%, which is 690% higher than its category average, making the fund expense ratio grade a F. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Virtus Private Credit ETF has a portfolio turnover rate of 29%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 190% for the Nontraditional Bond category.
Recently, in the month of July 2026, Virtus Private Credit ETF returned -0.9%, which earned it a grade of D, as the Nontraditional Bond category had an average return of -0.4%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
Virtus Private Credit ETF has a trailing yield of 16.43%, which is above the 6.67% category average.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Virtus Private Credit ETF Grades
Year to date, the ETF has returned -11.4%, 11.5 percentage points worse than the category, which translates into a grade of F. The fund has returned -16.6% over the past year (grade of F), -1.0% over the past three years (grade of F) and 0.9% per year over the past five years (grade of F).
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VPC Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| VPC Return (NAV) | -0.9% | -6.4% | -16.6% | -1.0% | 0.9% | na |
| VPC Return (Price) | -1.1% | -6.5% | -17.0% | -1.2% | 0.9% | na |
| NAV +/- Price Return | 0.234% | 0.120% | 0.311% | 0.182% | 0.039% | na |
| Nontraditional Bond Avg | -0.4% | -0.6% | 2.7% | 5.4% | 3.4% | 4.3% |
| VPC Grade (NAV) | D | F | F | F | F | na |
| +/- Category (NAV) | -0.6% | -5.8% | -19.3% | -6.4% | -2.5% | na |
| VPC Tax-Cost Ratio | na | na | 5.6% | 4.8% | 4.5% | na |
VPC Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| VPC Return (NAV) | -11.4% | -6.3% | 10.5% | 21.6% | -11.3% | 33.0% | -8.9% | na | na | na | na |
| VPC Return (Price) | -11.5% | -6.7% | 10.5% | 22.2% | -11.7% | 34.2% | -9.4% | na | na | na | na |
| NAV +/- Price Ret | 0.002% | 0.059% | -0.005% | 0.032% | 0.033% | 0.035% | 0.056% | na | na | na | na |
| Nontraditional Bond Avg | 0.1% | 4.6% | 8.2% | 9.5% | -3.9% | 6.2% | 0.9% | 7.2% | -0.7% | 4.0% | 7.7% |
| VPC Grade (NAV) | F | F | A | A | D | A | F | na | na | na | na |
| +/- Category | -11.5% | -10.9% | 2.3% | 12.0% | -7.5% | 26.8% | -9.8% | na | na | na | na |
| Risk Measures | |
| Beta: | 0.45 |
| R-Squared: | 4% |
| Standard Deviation: | 12.1% |
| Category Risk Index: | 2.24 |
| Category Risk Rating: | High |
| Total Risk Index: | 0.99 |
| Total Risk Rating: | Below Average |
| Portfolio Characteristics | |
| Yield: | 16.4% |
| Total Assets: | $ 30 Mil |
| Share Class Assets: | $ 30 Mil |
| Turnover: | 29.0% |
| Expense Ratio: | 10.60% |
| Index Fund: | Yes |
| Index Tracked: | Bloomberg US Agg Bond TR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | |
| Income Distribution Frequency: | |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 7.5 years | |||
| Average Tenure: 7.5 years | |||
| Managers (Year): Brown Matthew (2019), Kadushin Seth (2019) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 59 |
| % in Top 10 Holdings: | 31.7% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 4.1% |
Portfolio Allocation |
|
| Domestic Stock: | 70.3% |
| Foreign Stock: | 0.2% |
| Preferred Stock: | 0.2% |
| Domestic Bond: | 15.6% |
| Foreign Bond: | 3.9% |
| Convertible Bond: | 0.1% |
| Other: | 7.2% |
| Cash: | 2.5% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Virtus |
| Phone Number: | 888-383-0553 |
| Website: | |
| Inception Date: | February 7, 2019 |
Expenses and Fees
| Expense Ratio (%): | 10.60% (Rating: High) |
| Category Average Expense Ratio (%): | 1.34% |
