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Virtus Convertible & Income Fund II:NCZ

Overview

As of 10/16/2026. NAV as of 10/15/2026.

 Share
Price
NAVPremium/
Discount
Current$13.76$15.23-9.65%
52 Wk Avg$14.70$16.23-9.43%
52 Wk High$16.17$18.02-4.56%
52 Wk Low$12.95$14.70-12.79%
Regular Distribution Type†Income Only
Distribution Rate10.30780000%
Distribution Amount$0.1200
Distribution FrequencyMonthly
Past performance is no guarantee of future results.

Basic Information

Investment Objective

The Funds investment objective is to provide total return through a combination of capital appreciation and high current income. The fund seeks to achieve it's objective by identifying potential investments that it expects will exceed minimum credit statistics and exhibit the highest visibility of future expected operating performance.

Capital Structure

As of 10/16/2026

Total Investment Exposure:$447.553M
Total Common Assets:$289.811M
Common Shares Outstanding:19,028,938
Leverage

As of 10/16/2026

Preferred Share Assets: $109.000M
Total Debt (USD): $48.742M
Regulatory Leverage (USD): $157.742M
Effective Leverage (USD): $157.742M
Effective Leverage (%): 35.25%
Annual Expense Ratios

As of 1/31/2026

  Per Common Share
Management Fees1.09%
Other Expenses:0.18%
Baseline Expense: N/A
Interest Expense:0.94%
Total: 2.22%
Fund Management

Fund Sponsor
Virtus Investment Advisers, LLC

Portfolio Managers
Justin M. Kass, George Goudelias, K. Mathew Axline, David Oberto, Ethan Turner

Basics
Category: Fixed Income - Taxable-Convertibles
Ticker: NCZ
NAV Ticker: XNCZX
Average Daily Volume (shares): 63,837
Average Daily Volume (USD): $0.938M
Inception Date: 7/31/2003
Inception Share Price: $15.00
Inception NAV: $14.33
Tender Offer: No
Term: No
Fiscal Year End: January 31
Third Party Links & Reports

Distributions

As of 10/16/2026

Past performance is no guarantee of future results.
Distribution History

Enter declared start and end dates to display distribution history below. Income, Long Gain, Short Gain and ROC breakdowns will only be shown for the past year.

Declared Date Payable Date Ex Date Distrib Amount Income Long Gain Short Gain ROC

*Indicates a Special Distribution: A distribution disbursed in addition to the normal distributions paid out by the company.

Key Information Regarding Distributions†
Avg. Earnings Per Share:
As of 7/31/2026
$0.0902
Annualized Distribution Rate on NAV:
As of 10/16/2026
9.46%
Total Return on NAV (12 months):
As of 10/16/2026
12.35%
Avg. Portfolio Coupon:
As of 10/16/2026
4.93%
Total % Portfolio Effectively Leveraged:
As of 10/16/2026
35.25%

Pricing Information

Premium/Discount Information
Past performance is no guarantee of future results.
Premium/Discount Information

As of 10/16/2026

PeriodAvg Discount
6 Month-9.07%
1 Year-9.43%
3 Year-9.95%
5 Year-10.36%
Z-Score

As of 10/16/2026

PeriodZStat
3 Month-0.87
6 Month-0.26
1 Year-0.12
Pricing History
Date NAV Premium / Discount

Performance

Calendar Year Total Returns

As of 9/30/2026
Category: Morningstar US CEF Convertibles

Past 20 Years

Return YearPriceNAVCategory - PriceCategory - NAV
YTD9.91%9.19%7.43%11.64%
202522.28%22.88%14.39%21.10%
202418.37%11.00%21.90%10.92%
202317.68%13.68%13.00%11.93%
2022-35.95%-31.00%-29.07%-25.53%
20219.24%6.32%13.98%5.77%
202011.14%20.21%25.59%32.33%
201927.54%24.03%33.46%25.30%
2018-18.13%-11.64%-10.90%-6.14%
201722.06%11.25%18.81%12.46%
201629.13%23.12%17.56%11.29%
2015-35.37%-16.39%-13.28%-6.40%
201411.10%1.32%4.99%1.66%
201328.14%24.33%  
201214.43%22.88%  
2011-5.48%-3.80%  
201026.51%20.18%  
2009145.36%95.64%  
2008-60.76%-57.95%  
2007-13.14%5.44%  
200626.91%16.65%  
Past performance is no guarantee of future results.
Annualized Total Returns

Returns for periods less than one year are cumulative rather than annualized

As of 9/30/2026
Category: Morningstar US CEF Convertibles

Past performance is no guarantee of future results.

Portfolio Characteristics

Portfolio Characteristics
Average Coupon:
As of 10/15/2026
4.93%
Number of Holdings:
As of 9/30/2026
402
Annual Portfolio Turnover:
As of 1/31/2026
119.00%
Average Bond Price:
As of 9/30/2026
$109.21
Asset Allocation

As of 9/30/2026

Top Sectors

As of 9/30/2026

Sector%Portfolio
Corporate (Super Sector)140.20%
Convertible63.58%
Corporate Bond37.82%
Bank Loan21.83%
Preferred Stock16.96%
Defensive (Super Sector)3.51%
Utilities2.58%
Sensitive (Super Sector)1.02%
Healthcare0.94%
Industrials0.73%
Top Holdings

As of 9/30/2026

HoldingValue% Portfolio
Alphabet Inc PRF PERPETUAL USD 1000 - 1/20th Int Ser B$20.70M6.95%
Live Nation Entertainment, Inc. 2.875%$8.26M2.77%
Wells Fargo & Co 7 1/2 % Non Cum Perp Conv Pfd Shs -A- Series -L-$7.63M2.56%
Welltower OP LLC 3.125%$7.48M2.51%
Nebius Group N.V. 0.5%$6.93M2.33%
Datadog Inc$6.85M2.30%
Lumentum Holdings Inc. 0.375%$6.82M2.29%
Cloudflare Inc$6.60M2.21%
Hewlett Packard Enterprise Co 7.625% PRF CONVERT 01/09/2027 USD 50 - Ser C$6.34M2.13%
Guardant Health Inc$5.61M1.88%
Credit Quality

As of 9/30/2026

Maturity Breakdown

As of 9/30/2026

Country Allocation

As of 9/30/2026

Country% Portfolio
United States - Fixed Income34.24%
United States - Equity4.54%
Denmark - Fixed Income0.48%
Switzerland - Fixed Income0.37%
Canada - Fixed Income0.37%
United Kingdom - Fixed Income0.32%
Australia - Fixed Income0.04%

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NOTES:

† Distribution type sourced from Morningstar. CEFConnect.com does not undertake to disclose specific information about closed-end fund distribution sources. For specific information about a fund's distribution sources, visit the fund sponsor's website.

The following information applies to closed-end funds in general: Fund shares are not guaranteed or endorsed by any bank or other insured depository institution, and are not federally insured by the Federal Deposit Insurance Corporation. Shares of closed-end funds are subject to investment risks, including the possible loss of principal invested. There can be no assurance that fund objectives will be achieved. Closed-end funds frequently trade at a discount to their net asset value.