NIE CEF — AllianzGI Equity & Convertible Income Closed Fund

AllianzGI Equity & Convertible Income Closed Fund (NIE)

Updated October 2, 2026.

NIE is a CEF. its distribution rate is 9.32%, its trailing-12-month yield is 10.79%, its expense ratio is 1.12%. Dividend Vision Distribution Safety Score™ is 96/100 (Safe). Total return is 466.2% over the past 19.6 years, 193.1 points behind SPY at 659.3%.

At the current 9.32% distribution rate, a $10,000 investment would generate approximately $932 per year, or about $233.00 per quarter if the next payment matches the last regular one.

Virtus Equity & Convertible Income Fund is a closed ended equity mutual fund launched and managed by Allianz Global Investors Fund Management LLC. The fund is co-managed by Allianz Global Investors U.S. LLC. It invests in the public equity markets of the United States. The fund invests in stocks of companies operating across diversified sectors. It primarily invests in growth stocks of companies. The fund also invests in income producing convertible securities. It employs fundamental analysis focusing on factors like above-average earnings growth, high return on invested capital, a healthy or improving balance sheet, strong competitive advantages, and development of new technologies to make its investments. The fund was formerly known as AGIC Equity & Convertible Income Fund. Virtus Equity & Convertible Income Fund was formed on Feb 27, 2007 and is domiciled in the United States.

NIE performance versus SPY

Price and return data through 2026-10-02.

Total return is 466.2% over the past 19.6 years, 193.1 points behind SPY at 659.3%. Over the past year its total return — price change plus distributions reinvested — is 9.4%. Its deepest 1-year drawdown was 9.0%.

NIE key facts

Distribution Safety Score™

96 · Safe

Safety-Adjusted Yield

8.95%

Issuer

AllianzGI

Asset type

CEF

Asset class

Equity

Inception date

02/23/2007

Expense ratio

1.12%

Distribution rate

9.32%

Distribution frequency

Quarterly

Trailing yield

10.79%

5-year average yield

9.34

Last close

$24.89 (as of 2026-10-02)

NAV

$28.61 as of 2026-09-30

Premium / discount

13.00% discount (price 2026-10-02, NAV 2026-09-30)

Market cap

$689,953,216

Average volume

94200.0

Last dividend

$0.58

Last ex-dividend date

09/14/2026

Last payment date

09/29/2026

Beta

0.8394

How Dividend Vision calculates yield and returns

Distribution rate (9.32%) 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 (10.79%) 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.

Yield and safety methodology · Distribution rate methodology · Distribution Safety Score methodology

Sources and review

Primary sources: AllianzGI; 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.

NIE risks and drawbacks

Payments are quarterly, so cash flow is lumpy versus a monthly fund. Total return has trailed SPY over the available window. The deepest 1-year drawdown on record here is 9.0%.

Who may consider NIE — and who may not

NIE may suit someone looking for a high Distribution Safety Score. It is a weaker fit for investors who need monthly cash flow (NIE pays quarterly); investors whose main goal is matching SPY total return. This is educational context, not a recommendation to buy or sell.

Frequently asked questions

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