15 important things you should know about Virtus ANNAX mutual fund

Updated: June 08, 2021

Bull Case

3-year return above the benchmark
5-year return above the benchmark
10-year return above the benchmark

Bear Case

Low net assets
High expense ratio
Sales load and/or distribution fees

Before we start: if you’re looking for ANNAX “stock” price, you can quickly find it out by visiting Finny and typing "ANNAX quote". If you’re looking for a quick scoop on ANNAX "stock" (price chart, key stats, buy or sell analysis and holdings), go to Finny and look for "ANNAX". You’ll get all this info in one place.

Are you looking to buy or sell ANNAX? Or perhaps you’re looking for ANNAX fact sheet, and learn about its alternatives? If so, you came to the right place.

In this ANNAX mutual fund review, we’ll address key questions our readers have been asking us about this fund, above and beyond what you can find in its prospectus, and on Morningstar or Yahoo Finance.

Here is what you’ll be able to find in this review:

Fact Sheet: ANNAX performance, returns, expense ratio, holdings and dividend yield;
Analysis: ANNAX buy or sell; the pros and cons of investing in ANNAX mutual fund;
Alternatives: other ETFs and mutual funds you should consider as alternatives to ANNAX.

And here is the list of questions we’ll answer:

Describe Allianz Funds Multi-Strategy Trust: AllianzGI Convertible Fund; Administrative Class Shares (ANNAX).
What are ANNAX holdings?
What is ANNAX performance? What are ANNAX historical returns?
How many up and down years did ANNAX have historically?
What is ANNAX dividend yield?
What is ANNAX minimum initial investment amount?
What is ANNAX expense ratio?
Does ANNAX have any sales loads or 12b-1 distribution expenses?
What is ANNAX tax efficiency (tax-cost ratio)?
What is ANNAX beta? How would you assess ANNAX risk?
What is ANNAX Sharpe ratio?
What is ANNAX Finny Score? ANNAX buy or sell?
What are the pros of investing in ANNAX? What are ANNAX buy reasons?
What are the cons of investing in ANNAX? What are ANNAX sell reasons?

So let’s start. Scroll down to the question that interests you the most.

Fact Sheet

1. Describe Allianz Funds Multi-Strategy Trust: AllianzGI Convertible Fund; Administrative Class Shares (ANNAX).

The Fund seeks maximum total return, consisting of capital appreciation and current income by investing at least 65% of its total assets in income producing equity securities. Equity securities include common stocks, preferred stocks, and securities (including debt securities) that are convertible into common-stock.

2. What are ANNAX top holdings?

ANNAX has 3 stock holdings and 0 bond holdings.

The top 10 holdings represent 19.90% of total assets. Here are the top holdings:

Name	Symbol	% Assets
Tesla Inc 2%	N/A	4.03%
Broadcom Inc Broadcom Inc 8 % Mandatory Convertible Preferred Stock Ser A	AVGOP	2.21%
Danaher Corp PRF CONVERT 15/04/2022 USD - Ser A	DHRPA	1.94%
Splunk Inc 1.12%	N/A	1.85%
Zillow Group Inc 2.75%	N/A	1.85%
Microchip Technology Incorporated 1.62%	N/A	1.78%
Ringcentral Inc 0.01%	N/A	1.68%
Wayfair Inc 0.62%	N/A	1.54%
Teladoc Health Inc 1.25%	N/A	1.53%
NextEra Energy Inc Unit	NEEPP	1.49%

3. What is ANNAX performance? What are ANNAX historical returns?

ANNAX has generated the following returns:

1-month return is -0.09%;
3-month return is 0.28%;
1-year return is 0.28%;
3-year return is 23.12%;
5-year return is 20.00%;
10-year return is 13.03%.

4. How many up and down years did ANNAX have historically?

In the last 10 years, ANNAX had 8 up years and 2 down years.

5. What is ANNAX dividend yield?

ANNAX yield is 0.86%.

6. What is ANNAX minimum initial investment amount?

ANNAX minimum initial investment amount is N/A.

7. What is ANNAX expense ratio?

ANNAX expense ratio is 0.93%. The expense ratio of a fund is the total percentage of fund assets used for administrative, management, and all other expenses.

8. Does ANNAX have any sales loads or 12b-1 distribution expenses?

ANNAX 12b-1 distribution fee is 0.25. ANNAX front-end sales load is 0. ANNAX back-end sales load is 0.

9. What is ANNAX tax efficiency (tax-cost ratio)?

1-year ax cost ratio is 2.46%;
3-year ax cost ratio is 2.99%.

10. What is ANNAX beta? How would you assess ANNAX risk?

11. What is ANNAX Sharpe ratio?

3-year Sharpe ratio is 1.39;
5-year Sharpe ratio is 1.40;
10-year Sharpe ratio is 0.99;
15-year Sharpe ratio is 0.82.

Analysis

12. What is Finny Score? buy or sell?

Finny Score is 50. Our quantitative analysis shows 3 reasons to buy and 3 reasons to sell it, resulting in the Finny Score of 50.

13. What are the pros of investing in ANNAX? What are ANNAX buy reasons?

The following are ANNAX strengths from our perspective:

ANNAX 3-year return is 23.12%, which is higher than the 3-year return of the benchmark index (ICE BofA All US Convertible TR USD), 20.46%.
ANNAX 5-year return is 20%, which is higher than the 5-year return of the benchmark index (ICE BofA All US Convertible TR USD), 18.08%.
ANNAX 10-year return is 13.03%, which is higher than the 10-year return of the benchmark index (ICE BofA All US Convertible TR USD), 12.51%.

14. What are the cons of investing in ANNAX? What are ANNAX negatives?

The following are ANNAX weaknesses from our perspective:

ANNAX net assets are $24.00 million. This fund is not a popular choice with retail investors.
ANNAX expense ratio is 0.93%, which is not negligible. Is the fund expensive to you, and does it align to your investment strategy?
Warning: this fund has a 12b1 sales fee. The maximum 12b1 fee is 0.25%. A 12b-1 fee is an annual marketing or distribution fee on a mutual fund.

In the ANNAX review, we covered ANNAX key stats (return, performance, yield, expense ratio, and holdings), buy and sell analysis, and alternative investments. If this review was helpful to you, feel free to check out other mutual fund and ETF reviews.