NCV CEF — Virtus Convertible & Income Fund

Virtus Convertible & Income Fund (NCV)

NCV is a CEF. its distribution rate is 10.12%, its trailing-12-month yield is 10.12%, its expense ratio is 2.44%. Dividend Vision Distribution Safety Score™ is 74/100 (Generally safe). Total return is 350.8% over the past 23.5 years, 948.2 points behind SPY at 1299.0%.

At the current 10.12% distribution rate, a $10,000 investment would generate approximately $1,012 per year, or $84.33 per month.

NCV performance versus SPY

Price and return data through 2026-09-21.

Total return is 350.8% over the past 23.5 years, 948.2 points behind SPY at 1299.0%. Over the past year its total return — price change plus distributions reinvested — is 16.6%. Its deepest 1-year drawdown was 11.4%.

NCV key facts

Distribution Safety Score™

74 · Generally safe

Safety-Adjusted Yield

7.49%

Issuer

Virtus Investment Partners

Asset type

CEF

Asset class

Fixed Income

Inception date

03/31/2003

Expense ratio

2.44%

Distribution rate

10.12%

Distribution frequency

Monthly

Trailing yield

10.12%

5-year average yield

11.94

Last close

$16.12 (as of 2026-09-21)

NAV

$17.78

Premium / discount

9.34% discount

Market cap

$353,812,512

Average volume

65485.0

Next dividend

$0.136

Last ex-dividend date

09/14/2026

Next payment date

09/29/2026

Beta

1.19

How Dividend Vision calculates yield and returns

Distribution rate (10.12%) is the latest regular payout annualized by the fund's stated frequency, divided by the last close. Issuers often publish this as “Distribution Rate” on the fact sheet. Trailing-12-month yield (10.12%) is the sum of distributions paid in the last 12 months, split-adjusted, divided by the last close. It lags a recent raise or cut. Total return uses split-adjusted close with distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date) from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is the security's total return, not your personal gain/loss.

Distribution rate methodology · Distribution Safety Score methodology

Sources and review

Primary sources: Virtus Investment Partners; prices and distributions from Dividend Vision, derived from vendor EOD data.

Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.

NCV risks and drawbacks

Total return has trailed SPY over the available window. The deepest 1-year drawdown on record here is 11.4%.

Who may consider NCV — and who may not

It is a weaker fit for investors whose main goal is matching SPY total return. This is educational context, not a recommendation to buy or sell.

Frequently asked questions

More securities from Virtus Investment Partners.