Fund Evaluator:
Virtus Seix US Govt Secs Ultr-Shrt Bd A (SSAGX)
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Fund Details
Virtus Seix US Govt Secs Ultr-Shrt Bd A Overview
Virtus Seix US Govt Secs Ultr-Shrt Bd A (SSAGX) is an actively managed Taxable Bond Ultrashort Bond fund. Virtus launched the fund in 2018.
The investment seeks to maximize current income consistent with capital preservation. The fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in short duration U.S. government securities of any credit quality. These securities may include, but are not limited to, U.S. Treasury securities, U.S. agency securities, U.S. agency mortgage-backed securities, repurchase agreements and other U.S. government securities. The advisor expects to maintain an average effective duration between 3 months and 1 year. Individual purchases will generally be limited to securities with an effective duration of less than 5 years.
About Virtus Seix US Govt Secs Ultr-Shrt Bd A (SSAGX)
There are 2 members of the management team with an average tenure of 12.38 years: Michael Rieger (2014), Perry Troisi (2014). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: Bloomberg US Agg Bond TR USD index with a weighting of 100% and Bloomberg US Treasury Bill 3-6M TR USD index with a weighting of 100%. Virtus Seix US Govt Secs Ultr-Shrt Bd A has 170 securities in its portfolio. The top 10 holdings constitute 22.6% 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 Seix US Govt Secs Ultr-Shrt Bd A is part of the Fixed Income global asset class and is within the Taxable Bond fund group. Virtus Seix US Govt Secs Ultr-Shrt Bd A has 0.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0%. There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 97.6% (97.6% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Virtus Seix US Govt Secs Ultr-Shrt Bd A has 2.4% of the portfolio in cash.
Assets Under Management
The fund has $27 million in total assets, which is below the $950 million average for the Ultrashort 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.
SSAGX 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 Seix US Govt Secs Ultr-Shrt Bd A expense ratio is above average compared to funds in the Ultrashort Bond category. Virtus Seix US Govt Secs Ultr-Shrt Bd A has an expense ratio of 0.65%, which is 45% 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 Seix US Govt Secs Ultr-Shrt Bd A has a portfolio turnover rate of 37%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 77% for the Ultrashort Bond category.
Recently, in the month of July 2026, Virtus Seix US Govt Secs Ultr-Shrt Bd A returned 0.2%, which earned it a grade of D, as the Ultrashort Bond category had an average return of 0.3%. 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 Seix US Govt Secs Ultr-Shrt Bd A has a trailing yield of 4.11%, which is below the 4.21% category average. The fund normally distributes its income monthly.
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 Seix US Govt Secs Ultr-Shrt Bd A Grades
Year to date, the fund has returned 1.8%, 0.3 percentage points worse than the category, which translates into a grade of F. The fund has returned 4.1% over the past year (grade of C), 5.1% over the past three years (grade of C) and 3.2% per year over the past five years (grade of F) and 2.2% per year over the past 10 years (grade of F).
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SSAGX 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 |
|
| SSAGX Return (NAV) | 0.2% | 0.8% | 4.1% | 5.1% | 3.2% | 2.2% |
| SSAGX Grade | D | F | C | C | F | F |
| +/- Category | -0.1% | -0.1% | -0.1% | -0.1% | -0.5% | -0.5% |
| Ultrashort Bond Avg | 0.3% | 0.9% | 4.1% | 5.2% | 3.6% | 2.7% |
| SSAGX Tax Cost Ratio | na | na | 1.7% | 1.8% | 1.4% | na |
SSAGX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| SSAGX Return (NAV) | 1.8% | 5.1% | 5.6% | 5.2% | -1.4% | -0.3% | 1.0% | 2.1% | 1.5% | 1.0% | 0.4% |
| SSAGX Grade | F | B | C | F | F | F | D | F | D | F | F |
| +/- Category | -0.3% | 0.3% | -0.2% | -0.7% | -1.2% | -0.4% | -0.5% | -1.0% | -0.2% | -0.5% | -1.1% |
| Ultrashort Bond Avg | 2.1% | 4.9% | 5.9% | 5.9% | -0.2% | 0.1% | 1.5% | 3.1% | 1.7% | 1.6% | 1.5% |
| Risk Measures | |
| Standard Deviation: | 0.6% |
| Total Risk Index: | 0.05 - Low |
| Category Risk Index: | 1.11 - Above Average |
| Category Risk Grade: | D (70% Rank) |
| Beta: | 0.08 |
| R-Squared: | 63% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | na |
| Bond Investment Style: | na |
| Yield: | 4.1% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | |
| Total Assets: | $409 Mil |
| Fund Total Assets: | $ 27 Mil |
| Share Class Type: | A |
| Portfolio Turnover: | 37% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 12.4 years | |||
| Average Tenure: 12.4 years | |||
| Managers (Year): Rieger Michael (2014), Troisi Perry (2014) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 170 |
| % in Top 10 Holdings: | 22.6% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 0.0% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 97.6% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 2.4% |
Purchase Information
| Fund Family: | Virtus |
| Phone Number: | 800-243-1574 |
| Website: | www.virtus.com |
| Status: | Open |
| Inception Date: | July 24, 2018 |
| Min. Initial Purchase: | $2,500 |
| Min. Initial IRA Purchase: | $ 100 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 0.25% |
Expenses and Fees | |
| Expense Ratio (%): | 0.65% ( Rating : Above Avg ) |
| Category Average Expense Ratio (%): | 0.45% |
| Share Class: | Virtus Seix US Govt Secs Ultr-Shrt Bd I |
| Min. Subsequent Purchase: | $ 100 |
| Min. Subsequent IRA Purchase: | $ 100 |
