In plain terms — Virtus Global Multi-Sector Income Fund
Shares currently cost about 10.2% less than the value of the assets behind them (a discount).
Over the past year it has averaged a 6.3% discount, so today's level is unusually wide for this fund (Z-score -2.9). That describes the past; it does not predict where the discount goes next.
It pays regular distributions worth about 14.5% a year of the share price (13.1% 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 16.2%, more than the payout rate itself. That is buying power, not a return.
The assets themselves grew 0.9% 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 | -7.43% | 1.38% | -2.01 | 64 |
| 6 months | -7.18% | 1.12% | -2.69 | 126 |
| 1 year | -6.33% | 1.32% | -2.94 | 250 |
| 3 years | -7.64% | — | — | — |
| 5 years | -8.55% | — | — | — |
Current contemporaneous premium/discount -10.20% (close Oct 14, 2026 vs NAV Oct 13, 2026). 1-year range -10.26% to -4.09%. 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 | -6.97% | -11.02% | -16.58% | -17.11% | -2.33% | -10.98% |
| Market price total return | -5.84% | -7.93% | -7.11% | -5.79% | +10.73% | +0.46% |
| NAV return | -3.03% | -6.73% | -10.91% | -10.48% | -3.19% | -9.22% |
| NAV total return | -1.98% | -3.74% | -1.47% | +0.94% | +8.75% | +1.39% |
Through Oct 14, 2026. Total return reinvests distributions at the series value on the ex-date. Cumulative ≤ 1 year, annualised beyond.
About the fund
Virtus Global Multi-Sector Income Fund is a closed ended fixed income mutual fund launched by Virtus Investment Partners, Inc. The fund is co-managed by Virtus Investment Advisers, Inc. and Newfleet Asset Management, LLC. It invests in fixed income markets across the globe. The fund invests in both investment grade and high yield debt instruments issued by the government, corporate, bank loans, mortgage-backed securities, asset-backed securities, taxable municipal bonds, and tax-exempt municipal bonds. It invests in securities with average duration which varies within three years (plus or minus) of the duration of the Barclays Global Aggregate Bond Index. The fund employs fundamental analysis with a top-down and bottom-up stock picking approach while focusing on factors such as yield and spreads, supply and demand, investment environment, sector fundamentals, assessment of credit risk, company management, issue structure, technical market conditions, and valuations to create its portfolio. It seeks to benchmark the performance of its portfolio against the Barclays Global Aggregate Bond Index. The fund was formerly known as Virtus-Newfleet Global Multi-Sector Income Fund. Virtus Global Multi-Sector Income Fund was formed on February 23, 2012 and is domiciled in the United States.
CEF Explorer research page for Virtus Global Multi-Sector Income Fund. Figures carry their own dates and sources; a discount to NAV does not guarantee convergence or any return. This is not investment advice.