Virtus Newfleet Multi-Sector Short Term Bond Fund
Actively managed U.S. bond fund
As of its 2026 Q2 report, Virtus Newfleet Multi-Sector Short Term Bond Fund held 922 positions with $4.85B in net assets. Its ten largest holdings made up 11.6% of the fund. The NARAX share class costs 0.9% a year. Over the 12 months to May 2026, NARAX returned 5.2%, with dividends reinvested. In 2026 Q2 it added 123 new positions and exited 116.
The fund has an investment objective of providing high current income while attempting to limit changes in the funds net asset value per share caused by interest rate changes.
The fund invests primarily in short-term fixed income securities across 14 bond market sectors—including U.S. government securities, mortgage-backed pass-throughs, investment-grade debt, high-yield bonds, and foreign debt—with a target dollar-weighted average duration of three years or less, applying a value-oriented approach that seeks to overweight undervalued sectors. Day-to-day management is delegated to a subadviser, which may also manage affiliated bond funds and ETFs in which the fund invests. Because the fund's sector overweights depend on the subadviser's assessment of value, actual sector exposures may diverge from a neutral benchmark.
What you own
| Company | Weight | Value | Shares | Reported price |
|---|---|---|---|---|
UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT 4.38% · due 2026-08-15 | 2.24% | $108.78M | — | — |
UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT 3.88% · due 2027-05-31 | 1.55% | $75.28M | — | — |
UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT 3.88% · due 2027-03-31 | 1.46% | $70.72M | — | — |
Virtus ETF Trust II | 1.44% | $69.81M | 2.9M | $24.17 |
FEDERAL HOME LOAN MORTGAGE CORP 5.00% · due 2055-01-01 | 1.22% | $59.23M | — | — |
FEDERAL HOME LOAN MORTGAGE CORP 5.50% · due 2055-01-01 | 0.86% | $41.53M | — | — |
FEDERAL NATIONAL MORTGAGE ASSOCIATION 6.00% · due 2053-10-01 | 0.78% | $37.90M | — | — |
FEDERAL HOME LOAN MORTGAGE CORP 6.00% · due 2054-12-01 | 0.76% | $37.02M | — | — |
Fnma Pass-Thru I 5.50% · due 2055-07-01 | 0.73% | $35.52M | — | — |
FEDERAL NATIONAL MORTGAGE ASSOCIATION 6.00% · due 2053-09-01 | 0.57% | $27.85M | — | — |
Reported price is the fund's own reported value divided by its own reported shares at 2026-06-30 — not a live quote, and not what the fund paid.
The 200 largest of 922 holdings, with the share counts as filed, open with a free account.
What the fund is made of
Percentages are of fund net assets. Rounding, liabilities and short positions can make totals differ from 100%.
| Securitized | 52.37% |
| Bonds | 41.07% |
| Loans | 5.08% |
| Cash & short-term | 0.27% |
| 2 smaller | 0.06% |
Look-through blends 2 underlying funds; 0.0% of NAV was not looked through and stays direct-classified. The blend is as of 2026Q1, one or more quarters before the direct holdings (2026Q2).
By sector
- Securitized
- 52.8%
- Other
- 16.2%
- Government
- 13.0%
- International
- 5.0%
- 12 other sectors
- 12.9%
- Securitized
- 52.8%
- Other
- 16.2%
- Government
- 13.0%
- International
- 5.0%
- Financials
- 4.5%
- Health Care
- 1.6%
- Utilities
- 1.4%
- Industrials
- 1.1%
- Information Technology
- 1.0%
- Energy
- 0.8%
- Communication Services
- 0.8%
- Consumer Discretionary
- 0.5%
- Materials
- 0.4%
- Real Estate
- 0.4%
- Cash
- 0.3%
- Consumer Staples
- 0.2%
How it has done
NARAX share class · total returns with dividends reinvested
Volatility over the last 12 months: 1.84%. Past returns are a record, not a forecast.
Jun 2026 has been filed since the trailing figures were struck, so it is not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
The 5 share classes hold the same portfolio
| Share class | Expense ratio | 1 year | 3 years | 5 years | Worst fall |
|---|---|---|---|---|---|
| 0.90% | +5.17% | +19.13% | — | -0.96% | |
| 1.16% | +4.66% | +18.23% | +13.31% | -0.74% | |
| 1.66% | +4.36% | +16.70% | +10.85% | -1.00% | |
| 0.65% | +5.43% | +20.27% | +16.41% | -0.72% | |
| 0.52% | +5.56% | +20.54% | +17.12% | -0.70% |
These classes hold the same portfolio, so the 3.84pp spread over 3 years is the cost difference between them — roughly 1.28pp a year — not a difference in what they own.
Fees & fund details
Virtus Newfleet Multi-Sector Short Term Bond Fund is an actively managed U.S. bond fund.
- Asset class
- Bonds
- Region
- United States
- Management
- Actively managed
- Fund type
- Open-end fund
- Credit quality
- Mixed credit
- Rate sensitivity
- Short duration
- Expense ratio, by class
- 0.52% – 1.66%· NARAX 0.90%
- Portfolio turnover
- 60.00% a year · as of 2026 Q1
Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.
Turnover is how much of the portfolio was replaced in a year.
Classified from what the fund holds, not from its name · 2026 Q2. The summary is a paraphrase of the prospectus; the objective is verbatim.
What changed this quarter
Positions that entered or left the fund since its previous filing. Positions that were only resized are not listed.
123 new· the largest 8
116 exited· the largest 8
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-06-30
Share of the fund's debt by how its coupon behaves — the fact that decides whether a rate move reaches this portfolio at all.
| Fixed rate | 74.9% |
| Floating rate | 25.1% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 6.7% |
| 1-3y | 10.9% |
| 3-5y | 22.9% |
| 5-10y | 17.3% |
| 10y+ | 40.9% |
| Unknown | 1.2% |
These three overlap — one holding can be in arrears and paying in kind at once — so they are shown separately and never summed.
Risk profile
Interest-rate and credit-spread sensitivity, both in years · as of 2026Q2
More of this fund’s sensitivity sits in credit spreads than in interest rates — a rate rally that comes with a credit selloff works against it.
Where the loss would come from. The two shocks are the same size, so this is the balance of the fund's two sensitivities rather than a bet on one moving more.
| Credit spreads | 53% |
| Interest rates | 47% |
Filers report the impact of a 0.01% move only, so the total is our own scaling of that one number and overstates the loss on most bonds — read it as approximate, never as precise. The two sensitivities overlap rather than add up: they measure the same positions against different shocks, which is why the durations above are shown side by side and never summed.
Share of the fund's spread duration carried by each credit tier.
| Investment grade | +1.86 yr |
| High yield | +0.67 yr |
Share of duration at each point, shortest first. A positive figure loses value when spreads widen; a negative one offsets — a credit hedge.
| 3 mo | 0.00 yr | 0% |
| 1 yr | 0.03 yr | 1% |
| 5 yr | 0.61 yr | 27% |
| 10 yr | 0.42 yr | 19% |
| 30 yr | 1.19 yr | 53% |
| 3 mo | 0.00 yr | 0% |
| 1 yr | 0.00 yr | 0% |
| 5 yr | 0.71 yr | 28% |
| 10 yr | 0.55 yr | 22% |
| 30 yr | 1.27 yr | 50% |
The two bands measure the same positions against different shocks and do not add — a Treasury carries rate duration and no spread duration, a floating-rate credit the reverse. Rate tenors are also summed across every currency the fund discloses.
Show the numbers
| Tenor | Rate yrs | IG yrs | HY yrs | IG $/bp | HY $/bp |
|---|---|---|---|---|---|
| 3 mo | +0.00 | +0.00 | +0.00 | $171 | $34 |
| 1 yr | +0.03 | +0.00 | +0.00 | $777 | $555 |
| 5 yr | +0.61 | +0.47 | +0.24 | $227.6k | $117.0k |
| 10 yr | +0.42 | +0.29 | +0.26 | $139.2k | $126.4k |
| 30 yr | +1.19 | +1.10 | +0.17 | $532.9k | $81.9k |
Dollar change per 1bp of spread movement, as filed and sign-anchored. A blank cell was not filed; a zero was.
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