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Name

As of 06/01/2026

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Virtus NFJ Emerging Markets Value Fund

AZMAX | Fund

$24.72

$16.2 M

0.00%

2.32%

Vitals

YTD Return

23.4%

1 yr return

48.8%

3 Yr Avg Return

18.3%

5 Yr Avg Return

3.9%

Net Assets

$16.2 M

Holdings in Top 10

42.0%

52 WEEK LOW AND HIGH

$24.6
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 2.32%

SALES FEES

Front Load 5.50%

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A

Min Investment

Standard (Taxable)

$2,500

IRA

$2,500

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 06/01/2026

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Virtus NFJ Emerging Markets Value Fund

AZMAX | Fund

$24.72

$16.2 M

0.00%

2.32%

AZMAX - Profile

Distributions

  • YTD Total Return 23.4%
  • 3 Yr Annualized Total Return 18.3%
  • 5 Yr Annualized Total Return 3.9%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.26%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    Virtus NFJ Emerging Markets Value Fund
  • Fund Family Name
    Allianz Funds
  • Inception Date
    Dec 18, 2012
  • Shares Outstanding
    N/A
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    R. McKinney

Fund Description

The fund seeks to achieve its investment objective by normally investing at least 80% of its net assets (plus borrowings made for investment purposes) in equity securities of companies that are domiciled in or tied economically to countries with emerging securities markets—that is, countries with securities markets which are, in the opinion of the portfolio managers, less sophisticated than more developed markets in terms of participation by investors, analyst coverage, liquidity and regulation. Most countries with emerging securities markets are located in Asia, Africa, the Middle East, Latin America and Eastern Europe. The fund may achieve its exposure to non-U.S. equity securities in several ways, including through investing in American Depositary Receipts (“ADRs”), Global Depositary Receipts (“GDRs”) and other depositary receipts, in addition to direct investments in the securities of non-U.S. issuers. The fund may invest in exchange traded funds (“ETFs”).

Although the fund does not expect to invest significantly in foreign currency exchange contracts, options, stock index futures contracts and other derivative instruments, or access products such as participatory notes (“P-Notes”), it may do so at any time. The fund typically does not seek to hedge its exposure to securities denominated in non-U.S. dollar currencies but retains the flexibility to do so at any time.

In selecting investments for the fund, the portfolio managers use a value investing style focusing on companies the portfolio managers believe are undervalued, including smaller capitalization securities and real estate investment trusts (“REITs”). The portfolio managers partition the fund’s selection universe by industry and then identify what they believe to be undervalued securities in each industry to determine potential holdings for the fund representing a broad range of industry groups. The portfolio managers use quantitative factors to screen the fund’s selection universe, analyzing factors such as price-to-earnings ratios (i.e., share price relative to a company’s earnings), dividend yield, price-to-book ratios (i.e., share price relative to a company’s balance sheet value), price-to-cash-flow ratios (i.e., share price relative to a company’s cash flow). After still further narrowing the universe through a combination of qualitative analysis and fundamental research, the portfolio managers select securities for the fund.

Read More

AZMAX - Performance

Return Ranking - Trailing

Period AZMAX Return Category Return Low Category Return High Rank in Category (%)
YTD 23.4% -18.5% 102.9% 59.49%
1 Yr 48.8% -14.2% 239.7% 58.54%
3 Yr 18.3%* -0.2% 66.1% 79.87%
5 Yr 3.9%* -11.3% 25.5% 84.78%
10 Yr 8.7%* 0.8% 21.5% 74.49%

* Annualized

Return Ranking - Calendar

Period AZMAX Return Category Return Low Category Return High Rank in Category (%)
2025 28.7% -39.1% 56.9% 46.21%
2024 -0.7% -24.0% 31.7% 82.33%
2023 5.2% -6.5% 35.5% 82.78%
2022 -29.2% -50.1% -2.4% 82.41%
2021 1.9% -33.1% 22.5% 17.65%

Total Return Ranking - Trailing

Period AZMAX Return Category Return Low Category Return High Rank in Category (%)
YTD 23.4% -18.5% 102.9% 59.49%
1 Yr 48.8% -14.2% 239.7% 58.54%
3 Yr 18.3%* -0.2% 66.1% 79.87%
5 Yr 3.9%* -11.3% 25.5% 84.78%
10 Yr 8.7%* 0.8% 21.5% 74.49%

* Annualized

Total Return Ranking - Calendar

Period AZMAX Return Category Return Low Category Return High Rank in Category (%)
2025 32.8% 0.1% 87.2% 44.64%
2024 0.7% -16.6% 31.7% 86.91%
2023 6.9% -2.5% 42.0% 83.73%
2022 -27.9% -42.2% 1.9% 84.85%
2021 2.3% -32.5% 33.1% 32.53%

NAV & Total Return History

AZMAX - Holdings

Concentration Analysis

AZMAX Category Low Category High AZMAX % Rank
Net Assets 16.2 M 682 K 160 B 94.79%
Number of Holdings 99 10 7640 51.10%
Net Assets in Top 10 6.19 M 290 K 47.3 B 94.95%
Weighting of Top 10 41.98% 2.9% 107.6% 36.02%

Top 10 Holdings

  1. Taiwan Semiconductor Manufacturing Co., Ltd. TWD10 10.64%
  2. Alibaba Group Holding Ltd. USD0.000003125 6.76%
  3. Samsung Electronics Co Ltd. KRW100 5.43%
  4. Daiichi Sankyo Co Ltd. NPV 4.11%
  5. JD.com Inc. USD0.00002 A CLASS 3.77%
  6. Tencent Holdings Ltd. HKD0.00002 3.07%
  7. SK Hynix Inc. KRW5000 3.06%
  8. ASML Holding N.V. EUR0.09 1.96%
  9. Bharti Airtel Ltd. INR5 1.71%
  10. Wiwynn Corp. TWD10 1.46%

Asset Allocation

Weighting Return Low Return High AZMAX % Rank
Stocks 		95.93% 0.00% 102.89% 64.35%
Cash 		2.21% -2.03% 17.54% 40.38%
Preferred Stocks 		1.86% 0.00% 12.21% 28.23%
Other 		0.00% -0.56% 10.07% 70.19%
Convertible Bonds 		0.00% 0.00% 7.40% 69.79%
Bonds 		0.00% 0.00% 138.18% 72.56%

Stock Sector Breakdown

Weighting Return Low Return High AZMAX % Rank
Technology 		33.76% 0.00% 47.50% 5.28%
Financial Services 		13.96% 0.00% 48.86% 91.68%
Consumer Cyclical 		12.04% 0.00% 48.94% 49.28%
Communication Services 		11.44% 0.00% 39.29% 17.60%
Industrials 		7.15% 0.00% 43.53% 34.40%
Basic Materials 		7.12% 0.00% 30.03% 63.20%
Healthcare 		5.17% 0.00% 16.53% 30.24%
Energy 		3.56% 0.00% 24.80% 59.84%
Consumer Defense 		2.64% 0.00% 25.90% 92.16%
Utilities 		2.35% 0.00% 39.12% 33.92%
Real Estate 		0.82% 0.00% 17.15% 67.52%

Stock Geographic Breakdown

Weighting Return Low Return High AZMAX % Rank
Non US 		91.74% 0.00% 100.93% 21.14%
US 		4.19% 0.00% 96.45% 77.13%

AZMAX - Expenses

Operational Fees

AZMAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 2.32% 0.02% 26.99% 10.13%
Management Fee 0.85% 0.00% 1.50% 49.45%
12b-1 Fee 0.25% 0.00% 1.00% 46.74%
Administrative Fee N/A 0.01% 0.85% 95.90%

Sales Fees

AZMAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 5.50% 3.50% 5.75% 46.84%
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

AZMAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

AZMAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 0.00% 189.00% 85.11%

AZMAX - Distributions

Dividend Yield Analysis

AZMAX Category Low Category High AZMAX % Rank
Dividend Yield 0.00% 0.00% 9.74% 64.51%

Dividend Distribution Analysis

AZMAX Category Low Category High Category Mod
Dividend Distribution Frequency Quarterly Annual Annual Annual

Net Income Ratio Analysis

AZMAX Category Low Category High AZMAX % Rank
Net Income Ratio 0.26% -1.98% 17.62% 70.31%

Capital Gain Distribution Analysis

AZMAX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Quarterly Annually

Distributions History

View More +

AZMAX - Fund Manager Analysis

Managers

R. McKinney

Start Date

Tenure

Tenure Rank

Dec 18, 2012

9.45

9.5%

Mr. McKinney is a portfolio manager, an analyst and a managing director with Allianz Global Investors. As a member of the Value Equity US Team, he is the product team co-lead for the Dividend Value investment strategy. Before joining the firm in 2006, he was an equity analyst covering the energy sector for Evergreen Investments, an investment-banking analyst at Alex. Brown & Sons, a vice president in equity research at Merrill Lynch and an equity analyst at Morgan Stanley. Mr. McKinney has a B.A. in economics from Dartmouth College and an M.B.A. from The Wharton School, The University of Pennsylvania. He is a CFA charterholder.

Thomas Oliver

Start Date

Tenure

Tenure Rank

Dec 18, 2012

9.45

9.5%

Thomas Oliver is a managing director and senior portfolio manager/analyst at NFJ Investment Group. He serves as a co-lead portfolio manager of the NFJ Dividend Value, NFJ Large Cap Value and NFJ All Cap Value strategies. Prior to joining NFJ in 2005, Mr. Oliver was a manager of corporate reporting at Perot Systems and an auditor at Deloitte & Touche. Mr. Oliver earned a B.B.A. and an M.B.A. from the University of Texas. He is a Chartered Financial Analyst® (CFA®) charterholder and has his Certified Public Accountant (CPA) designation. He began his career in the investment industry in 1995.

John Mowrey

Start Date

Tenure

Tenure Rank

Apr 01, 2013

9.17

9.2%

John Mowrey is an executive managing director, senior portfolio manager/analyst, and chief investment officer of NFJ Investment Group, responsible for the overall investment policy for all value equity portfolios, hiring new talent, and building out the team’s investment capabilities. He serves as co-lead portfolio manager for the NFJ Mid Cap Value, NFJ Small Cap Value, NFJ Emerging Markets Value, and NFJ Infrastructure Income strategies. Mr. Mowrey joined NFJ in 2007 and has been quoted and featured in a number of national publications, including Barron’s, Kiplinger and MarketWatch, and has been a featured guest on CNBC. He earned a B.A. in political science from Rhodes College and an M.B.A. from Southern Methodist University. He is a Chartered Financial Analyst® (CFA®) charterholder.

J. Garth Reilly

Start Date

Tenure

Tenure Rank

May 02, 2018

4.08

4.1%

J. Garth Reilly is a managing director and senior portfolio manager/analyst at NFJ Investment Group. He serves as a co-lead portfolio manager/analyst of the NFJ Emerging Markets Value, NFJ International Value, and NFJ Infrastructure Income strategies. Prior to joining NFJ in 2005, he was an intern at Luther King Capital Management and Citigroup Alternative Investments. Mr. Reilly earned a B.A. in political economy from Princeton University and an M.B.A. from Southern Methodist University.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.09 33.71 6.79 13.42

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