In plain terms — Virtus Dividend, Interest & Premium Strategy Fund
Shares currently cost about 10.1% less than the value of the assets behind them (a discount).
Over the past year it has averaged a 8.6% discount, so today's level is not high for this fund (Z-score +0.7). That describes the past; it does not predict where the discount goes next.
It pays regular distributions worth about 8.3% a year of the share price (7.5% of the assets). That is a payout rate, not a return: part of it may be capital being handed back.
Because the shares trade below the value of their assets, each dollar of reinvested distributions buys about $1.11 of assets — a ReinvestCapture™ rate of 9.3%, more than the payout rate itself. That is buying power, not a return.
The assets themselves grew 22.3% over the past year including distributions (NAV total return).
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Price and NAV, past year
Snapshot
Valuation vs. history
| Window | Average prem/disc | Std. dev. | Z-score | Observations |
|---|---|---|---|---|
| 3 months | -6.59% | 1.17% | -0.62 | 63 |
| 6 months | -7.08% | 1.03% | -0.23 | 125 |
| 1 year | -8.59% | 1.90% | +0.67 | 249 |
| 3 years | -11.21% | — | — | — |
| 5 years | -11.65% | — | — | — |
Current contemporaneous premium/discount -7.31% (close Oct 14, 2026 vs NAV Oct 13, 2026). 1-year range -12.23% to -4.87%. A negative Z-score means a wider discount than the window average — not that the fund is undervalued.
Performance
| Series | 1M | 3M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) |
|---|---|---|---|---|---|---|
| Market price return | -3.93% | -3.04% | +13.81% | +13.90% | +9.73% | -0.68% |
| Market price total return | -3.93% | -1.10% | +21.32% | +24.28% | +20.22% | +8.27% |
| NAV return | +0.93% | -0.55% | +13.30% | +12.91% | +7.19% | -0.56% |
| NAV total return | +0.93% | +1.33% | +20.19% | +22.28% | +16.22% | +7.31% |
Through Oct 14, 2026. Total return reinvests distributions at the series value on the ex-date. Cumulative ≤ 1 year, annualised beyond.
About the fund
AllianzGI NFJ Dividend, Interest & Premium Strategy 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 and NFJ Investment Group LLC. It invests in public equity markets of the United States. The fund invests in the stocks of companies operating across diversified sectors. It primarily invests in dividend-paying stocks of companies. The fund employs a combination of fundamental research with bottom up stock picking approach and quantitative analysis to create its portfolio. It was formerly known as NFJ Dividend, Interest & Premium Strategy Fund. AllianzGI NFJ Dividend, Interest & Premium Strategy Fund was formed on February 28, 2005 and is domiciled in the United States.
CEF Explorer research page for Virtus Dividend, Interest & Premium Strategy Fund. Figures carry their own dates and sources; a discount to NAV does not guarantee convergence or any return. This is not investment advice.