Fund Evaluator:

Virtus Duff & Phelps Real Asset I Overview

Virtus Duff & Phelps Real Asset I (VADIX) is an actively managed Allocation Global Moderately Aggressive Allocation fund. Virtus launched the fund in 2009.

The investment seeks long-term capital appreciation. The fund seeks to achieve its objective by investing its assets in a mix of underlying affiliated and unaffiliated mutual funds and exchange-traded funds ("ETFs"). Under normal circumstances, it will invest at least 80% of its net assets in underlying funds which substantially invest directly and indirectly in real assets. Real assets are broadly defined by the fund and include: global real estate; natural resources; commodities; global infrastructure; energy midstream MLPs, General Partners and C-corporations that own midstream oil and natural gas assets; etc.

About Virtus Duff & Phelps Real Asset I (VADIX)

There are 3 members of the management team with an average tenure of 6.42 years: DAVID Grumhaus (2020), Steven Wittwer (2020), Daniel Petrisko (2020). Management tenure is more important for actively managed funds than passive index funds.

The fund has 1 primary benchmark: MSCI World NR USD index with a weighting of 100%. Virtus Duff & Phelps Real Asset I has 12 securities in its portfolio. The top 10 holdings constitute 98.9% 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 Duff & Phelps Real Asset I is part of the Allocation global asset class and is within the Allocation fund group. Virtus Duff & Phelps Real Asset I has 32.1% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 53.2%. There is 32.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 5.2% (5.2% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Virtus Duff & Phelps Real Asset I has 5.3% of the portfolio in cash.

Assets Under Management

The fund has $9 million in total assets, which is below the $1 billion average for the Global Moderately Aggressive Allocation 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.

VADIX 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 Duff & Phelps Real Asset I expense ratio is high compared to funds in the Global Moderately Aggressive Allocation category. Virtus Duff & Phelps Real Asset I has an expense ratio of 1.08%, which is 8% 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 Duff & Phelps Real Asset I has a portfolio turnover rate of 17%, indicating that holds its assets around 0.1 years. By way of comparison, the average portfolio turnover is 32% for the Global Moderately Aggressive Allocation category.

Recently, in the month of July 2026, Virtus Duff & Phelps Real Asset I returned 1.7%, which earned it a grade of B, as the Global Moderately Aggressive Allocation category had an average return of 0.2%. 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 Duff & Phelps Real Asset I has a trailing yield of 1.81%, which is below the 1.98% category average. The fund normally distributes its income semi-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 Duff & Phelps Real Asset I Grades

Year to date, the fund has returned 12.8%, 2.9 percentage points better than the category, which translates into a grade of A. The fund has returned 20.9% over the past year (grade of A), 13.5% over the past three years (grade of D) and 9.3% per year over the past five years (grade of A) and 7.3% per year over the past 10 years (grade of F).

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