Fund Evaluator:
Virtus KAR International Small-Mid CapR6 (VRISX)
Follow This Fund
Best Performing in Foreign Small/Mid Growth Over the Last Year
| 80.8% | Hood River International Opportunity Inv (HRIIX) |
| 55.2% | American Beacon IMC Int Small Cap Inv (TIVFX) |
| 22.1% | American Century International Opps Inv (AIOIX) |
| 18.8% | T. Rowe Price International Discovery Z (TRZKX) |
| 17.4% | T. Rowe Price International Discovery (PRIDX) |
Fund Details
Virtus KAR International Small-Mid CapR6 Overview
Virtus KAR International Small-Mid CapR6 (VRISX) is an actively managed International Equity Foreign Small/Mid Growth fund. Virtus launched the fund in 2014.
The investment seeks capital appreciation. Under normal circumstances, the fund invests at least 80% of its assets in equity securities of non-U.S. small- and mid-capitalization companies. The advisor intends to diversify its investments among countries and normally to have represented in the portfolio business activities of a number of different countries. Equity securities in which the fund invests include common stocks, preferred stocks and American Depositary Receipts (ADRs).
About Virtus KAR International Small-Mid CapR6 (VRISX)
There are 2 members of the management team with an average tenure of 4.00 years: Hyung Kim (2018), Victor Zimmermann (2026). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: MSCI ACWI Ex USA NR USD index with a weighting of 100% and MSCI ACWI Ex USA SMID NR USD index with a weighting of 100%. Virtus KAR International Small-Mid CapR6 has 67 securities in its portfolio. The top 10 holdings constitute 48.3% 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 International Small-Mid CapR6 is part of the Equity global asset class and is within the International Equity fund group. Virtus KAR International Small-Mid CapR6 has 97.9% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 2.1%. There is 97.9% 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 International Small-Mid CapR6 has -0.1% of the portfolio in cash.
Assets Under Management
The fund has $76 million in total assets, which is below the $327 million average for the Foreign Small/Mid Growth 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.
VRISX 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 International Small-Mid CapR6 expense ratio is high compared to funds in the Foreign Small/Mid Growth category. Virtus KAR International Small-Mid CapR6 has an expense ratio of 1.08%, which is 12% lower than its category average, making the fund expense ratio grade a B. 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 International Small-Mid CapR6 has a portfolio turnover rate of 26%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 64% for the Foreign Small/Mid Growth category.
Recently, in the month of June 2026, Virtus KAR International Small-Mid CapR6 returned 0.5%, which earned it a grade of A, as the Foreign Small/Mid Growth category had an average return of -2.7%. 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 International Small-Mid CapR6 has a trailing yield of 3.89%, which is above the 1.42% category average. The fund normally distributes its income semi-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 International Small-Mid CapR6 Grades
Year to date, the fund has returned 1.2%, 7.7 percentage points worse than the category, which translates into a grade of F. The fund has returned -5.6% over the past year (grade of F), 9.3% over the past three years (grade of C) and -0.9% per year over the past five years (grade of D) and 8.4% per year over the past 10 years (grade of B).
For more mutual fund grades, analysis and screening tools to help your investment discovery, join AAII for a $2, full-access trial. Learn more here: https://invest.aaii.com/membership.
Otherwise, for more information about Virtus KAR International Small-Mid CapR6, including its riskiness, submit your email to unlock the rest of the article.
Gain access to exclusive AAII member-only content.
VRISX 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 |
|
| VRISX Return (NAV) | 0.5% | 7.9% | -5.6% | 9.3% | -0.9% | 8.4% |
| VRISX Grade | A | D | F | C | D | B |
| +/- Category | 3.2% | -2.3% | -16.4% | -2.5% | -1.9% | 1.1% |
| Foreign Small/Mid Growth Avg | -2.7% | 10.2% | 10.8% | 11.8% | 0.9% | 7.3% |
| VRISX Tax Cost Ratio | na | na | 1.6% | 0.8% | 1.0% | 0.8% |
VRISX Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| VRISX Return (NAV) | 1.2% | 14.4% | 4.2% | 22.4% | -34.3% | 5.8% | 24.5% | 27.7% | -6.7% | 28.7% | 21.2% |
| VRISX Grade | F | D | B | A | F | D | C | C | A | F | A |
| +/- Category | -7.7% | -6.5% | 3.3% | 9.0% | -5.7% | -4.0% | -0.9% | -0.1% | 9.5% | -6.6% | 21.8% |
| Foreign Small/Mid Growth Avg | 8.8% | 20.8% | 0.9% | 13.4% | -28.6% | 9.9% | 25.4% | 27.8% | -16.2% | 35.3% | -0.7% |
| Risk Measures | |
| Standard Deviation: | 15.3% |
| Total Risk Index: | 1.25 - Above Average |
| Category Risk Index: | 0.92 - Below Average |
| Category Risk Grade: | B (34% Rank) |
| Beta: | 0.89 |
| R-Squared: | 67% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Mid-Cap Blend |
| Bond Investment Style: | na |
| Yield: | 3.9% |
| Dividend Distribution: | Semi-Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $768 Mil |
| Fund Total Assets: | $ 77 Mil |
| Share Class Type: | Retirement |
| Portfolio Turnover: | 26% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 7.5 years | |||
| Average Tenure: 4.0 years | |||
| Managers (Year): Kim Hyung (2018), Zimmermann Victor (2026) | |||
Portfolio Composition (as of 3/31/26)
| # of Holdings: | 67 |
| % in Top 10 Holdings: | 48.3% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 97.9% |
Portfolio Allocation |
|
| Domestic Stock: | 2.1% |
| Foreign Stock: | 97.9% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | -0.1% |
Purchase Information
| Fund Family: | Virtus |
| Phone Number: | 800-243-1574 |
| Website: | www.virtus.com |
| Status: | Open |
| Inception Date: | November 12, 2014 |
| Min. Initial Purchase: | $2,500,000 |
| 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 (%): | 1.08% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.22% |
| Share Class: | Virtus KAR International Small-Mid Cap I |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
