Fund Facts  

Inception Date: Oct 20, 1997
CUSIP: 92828W361
Ticker Symbol: HIEMX
Morningstar Category:Diversified Emerging Mkts
As of Jun 30, 2017
Fund Net Assets ($millions) $7,914

Documents for Fund or Underlying Fund(s)  

Description

Objective  

The investment seeks capital appreciation.

Principal Investment Strategies  

The fund offers investors exposure to emerging economies through well-established companies. Under normal circumstances, it invests at least 80% of its assets in equity securities or equity-linked instruments of issuers located in emerging markets countries; such issuers may be of any capitalization. Emerging markets countries generally include every nation in the world except the U.S., Canada, Japan, Australia, New Zealand and most nations located in Western Europe.

Principal Investment Risks  

There is no guarantee that the Fund will achieve its investment objective. You may lose money by investing in the Fund. Please see the Fund’s prospectus or other disclosure documents for information about the Fund’s risks.

 

Performance & Expenses

Standard Performance As of Jun 30, 2017
Fund/Benchmark Name QtrYTD1-Yr3-Yr5-Yr10-YrSince Inception
Virtus Vontobel Emerg Mkts Opsa8.68%22.85%14.66%3.06%4.44%4.91%7.10%
MSCI Emerging Markets Index (Net)a,b6.27%18.43%23.75%1.07%3.96%1.91%N/A
Morningstar Diversified Emerging Mktsa,c5.87%18.14%20.48%0.48%4.07%1.48%N/A

Fund past performance, as shown, is no guarantee of how the Fund will perform in the future. The performance shown has been annualized for periods greater than one year. Investment returns and principal value will fluctuate, so that an investor's shares, when redeemed, may be worth more or less than their original cost. For current performance, visit www.icmarc.org.

Fund performance is shown comparing it to a "benchmark" which may be a (i) broad-based securities market index (ii) a group of mutual funds with similar investment objectives, or (iii) a short term government backed debt obligation such as a U.S. Treasury Bill. An index is not available for direct investment, is unmanaged, and does not reflect the costs of portfolio management or trading. A fund's portfolio may differ from the securities held in an index.

Annual Fund Operating Expenses
Total Expensesa1.33%

 

a. Certain information including, but not limited to, benchmark performance or other performance and/or fee information, is provided by Morningstar, Inc., © 2017 All rights reserved. This information: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed and (3) is not warranted to be accurate, complete or timely. Neither Morningstar and/or its content providers are responsible for any damages or losses arising from any use of information. Morningstar is a registered trademark of Morningstar, Inc.

b. The MSCI Emerging Markets Index (Net) is a free float-adjusted market capitalization index of equity securities that is designed to measure the equity market performance of emerging markets. The net version of this index reinvests dividends after the deduction of withholding taxes, using a tax rate applicable to non-resident institutional investors who do not benefit from double taxation treaties.

c. The Fund’s Morningstar Category Average is a group of funds with similar investment objectives and strategies and is the equal–weighted return of all funds per category. Morningstar places funds in certain categories based on a fund’s historical portfolio holdings.

Distributions

Dividends and Capital Gains  
Record Date Ex/Payable Date Income/Capital Gains Paid Per Share
Jun 22, 2017Jun 22, 2017$0.038000000
Dec 21, 2016Dec 21, 2016$0.040000000
Dec 22, 2015Dec 22, 2015$0.084000000
Dec 22, 2014Dec 22, 2014$0.069000000
Jun 20, 2014Jun 20, 2014$0.124000000
Dec 20, 2013Dec 20, 2013$0.080000000
 

Morningstar Information

Morningstar RatingTM   As of Jun 30, 2017
Period Stars Category Size
Overall 4 Stars634
3-Year 4 Stars634
5-Year 3 Stars436
10-Year 5 Stars178

The Morningstar Rating™ for funds, or “star rating”, is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange–traded funds, closed–end funds, and separate accounts) with at least a three–year history. Exchange–traded funds and open–ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk–Adjusted Return measure that accounts for variation in a managed product′s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three–, five–, and 10–year (if applicable) Morningstar Rating metrics. The weights are: 100% three–year rating for 36–59 months of total returns, 60% five–year rating⁄40% three–year rating for 60–119 months of total returns, and 50% 10–year rating⁄30% five–year rating⁄20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.

Morningstar Stylebox As of Jun 30, 2017
Equity Stylebox
Large Growth
Allocation of Assets As of Mar 31, 2017
Type of Asset Percent
Equity99%
Fixed Income0%
Cash/Other1%

Due to rounding, percentages shown may not add up to 100%.

 
 

Characteristics

Allocation of Assets As of Mar 31, 2017
Asset ClassPercent
Domestic Stock1.6%
Foreign Stock97.6%
Domestic Bond0.0%
Foreign Bond0.0%
Preferred0.0%
Convertible0.0%
Cash0.0%
Other0.8%

Due to rounding, percentages shown may not add up to 100%.

 
Equity Sector As of Mar 31, 2017
SectorPercent
Consumer Defensive35.4%
Financial Services23.0%
Technology17.9%
Consumer Cyclical9.1%
Utilities2.8%
Industrials2.6%
Energy2.5%
Communication Services2.5%
Healthcare2.0%
Real Estate1.4%

Exposure reflects equity securities only and will sum to the equity exposure of the fund.

 
Top Ten Country Exposure As of Mar 31, 2017
CountryPercent
India20.2%
Brazil12.6%
China12.3%
Mexico10.4%
Indonesia6.7%
South Korea6.0%
Netherlands5.7%
Taiwan5.1%
South Africa4.0%
United Kingdom3.3%
Top Ten Holdings As of Mar 31, 2017
Holding NamePercent
HDFC Bank Ltd5.6%
Alibaba Group Holding Ltd ADR5.1%
Housing Development Finance Corp Ltd4.7%
Tencent Holdings Ltd4.5%
Ambev SA ADR4.4%
Fomento Economico Mexicano SAB de CV ADR3.8%
ITC Ltd3.6%
British American Tobacco PLC3.3%
Unilever NV DR3.2%
NetEase Inc ADR2.8%
 

Statistics

Portfolio Statistics As of Jun 30, 2017
Statistic3-Year5-Year
Beta0.680.74
Alpha2.201.50
Standard Deviation12.9912.90
 
 

Footnotes

1.

Please read the fund's prospectus carefully for a complete summary of all fees, expenses, investment objectives and strategies, risks, financial highlights, and performance information. Investing involves risk, including possible loss of the amount invested. Investors should carefully consider the information contained in the prospectus before investing. You may contact us to obtain a prospectus or to answer questions by calling 800-669-7400, emailing investorservices@icmarc.org, or visiting www.icmarc.org.

2.

Effective May 8, 2017, the Virtus Emerging Markets Opportunities Fund is now known as the Virtus Vontobel Emerging Markets Opportunities Fund.

The source for this information is Morningstar, Inc. Copyright © 2017 Morningstar, Inc.® All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Morningstar, Inc. is a global investment research firm that is not affiliated with ICMA-RC. ICMA-RC does not independently verify Morningstar data.

Morningstar places funds in certain categories based on the fund's historical portfolio holdings. Placement of a fund in a particular Morningstar category does not mean that the fund will remain in that category or that it will invest primarily in securities consistent with its Morningstar category. A fund's investment strategy and portfolio holdings are governed by its prospectus, guidelines or other governing documents, not its Morningstar category.