Fund Evaluator:
Virtus KAR Global Small-Cap Inst (DGSCX)
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Fund Details
Virtus KAR Global Small-Cap Inst Overview
Virtus KAR Global Small-Cap Inst (DGSCX) is an actively managed International Equity Global Small/Mid Stock fund. Virtus launched the fund in 1996.
The investment seeks long-term capital appreciation. The fund pursues long-term capital appreciation in the small capitalization market while seeking to incur less risk than the small capitalization market. It invests in a select group of small market capitalization companies believed by the fund’s subadviser to possess sustainable competitive advantages at prices the subadviser deems attractive. The fund invests in U.S. and non-U.S. companies. Under normal circumstances, it invests at least 80% of net assets in common stocks of global small-capitalization companies.
About Virtus KAR Global Small-Cap Inst (DGSCX)
There are 2 members of the management team with an average tenure of 2.21 years: Todd Beiley (2022), Hyung Kim (2026). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: MSCI ACWI NR USD index with a weighting of 100% and MSCI ACWI Small NR USD index with a weighting of 100%. Virtus KAR Global Small-Cap Inst has 40 securities in its portfolio. The top 10 holdings constitute 45.3% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Virtus KAR Global Small-Cap Inst is part of the Equity global asset class and is within the International Equity fund group. Virtus KAR Global Small-Cap Inst has 49.3% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 47.4%. There is 49.3% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Virtus KAR Global Small-Cap Inst has 3.3% of the portfolio in cash.
Assets Under Management
The fund has $11 million in total assets, which is below the $865 million average for the Global Small/Mid Stock 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.
DGSCX 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 KAR Global Small-Cap Inst expense ratio is high compared to funds in the Global Small/Mid Stock category. Virtus KAR Global Small-Cap Inst has an expense ratio of 1.28%, which is 2% higher than its category average, making the fund expense ratio grade a D. 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 KAR Global Small-Cap Inst has a portfolio turnover rate of 25%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 56% for the Global Small/Mid Stock category.
Recently, in the month of June 2026, Virtus KAR Global Small-Cap Inst returned 4.7%, which earned it a grade of A, as the Global Small/Mid Stock category had an average return of 1.2%. 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 funds in that category.
Virtus KAR Global Small-Cap Inst has a trailing yield of 2.33%, which is above the 1.34% category average. The fund normally distributes its income annually and its capital gains annually.
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 KAR Global Small-Cap Inst Grades
Year to date, the fund has returned 4.4%, 8.9 percentage points worse than the category, which translates into a grade of F. The fund has returned -4.9% over the past year (grade of F), 5.5% over the past three years (grade of F) and -0.0% per year over the past five years (grade of F) and 7.0% per year over the past 10 years (grade of F).
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DGSCX Trailing NAV Total Returns Data as of 6/30/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| DGSCX Return (NAV) | 4.7% | 10.0% | -4.9% | 5.5% | -0.0% | 7.0% |
| DGSCX Grade | A | D | F | F | F | F |
| +/- Category | 3.5% | -3.3% | -24.7% | -6.1% | -3.4% | -2.0% |
| Global Small/Mid Stock Avg | 1.2% | 13.3% | 19.8% | 11.6% | 3.4% | 9.0% |
| DGSCX Tax Cost Ratio | na | na | 1.5% | 1.2% | 2.5% | 2.2% |
DGSCX Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| DGSCX Return (NAV) | 4.4% | -0.9% | 2.2% | 24.0% | -24.1% | 11.7% | 29.7% | 23.0% | -16.5% | 27.3% | 1.7% |
| DGSCX Grade | F | F | C | A | B | C | C | F | D | C | F |
| +/- Category | -8.9% | -15.1% | -0.7% | 7.6% | -1.7% | -4.3% | 2.2% | -4.6% | -2.5% | 1.3% | -6.2% |
| Global Small/Mid Stock Avg | 13.3% | 14.2% | 2.9% | 16.5% | -22.4% | 16.1% | 27.6% | 27.6% | -14.0% | 26.0% | 7.8% |
| Risk Measures | |
| Standard Deviation: | 14.5% |
| Total Risk Index: | 1.20 - Above Average |
| Category Risk Index: | 0.87 - Low |
| Category Risk Grade: | A (20% Rank) |
| Beta: | 0.84 |
| R-Squared: | 54% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Small-Cap Blend |
| Bond Investment Style: | na |
| Yield: | 2.3% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $35 Mil |
| Fund Total Assets: | $ 12 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 25% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 3.9 years | |||
| Average Tenure: 2.2 years | |||
| Managers (Year): Beiley Todd (2022), Kim Hyung (2026) | |||
Portfolio Composition (as of 3/31/26)
| # of Holdings: | 40 |
| % in Top 10 Holdings: | 45.3% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 49.3% |
Portfolio Allocation |
|
| Domestic Stock: | 47.4% |
| Foreign Stock: | 49.3% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 3.3% |
Purchase Information
| Fund Family: | Virtus |
| Phone Number: | 800-243-1574 |
| Website: | us.allianzgi.com |
| Status: | Open |
| Inception Date: | December 31, 1996 |
| Min. Initial Purchase: | $1,000,000 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 1.28% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.26% |
| Share Class: | Virtus KAR Global Small-Cap Inst |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
