Investment objective & strategy
As of Jan. 23, 2026 · prospectusObjective. The fund has investment objectives of capital appreciation and income with approximately equal emphasis.
Strategy. The fund offers exposure to the equity real estate investment trust (REIT) market utilizing a quality and relative value style with a fundamental security analysis approach designed to identify the most attractive investment candidates. The subadviser believes the value of a REIT extends beyond the value of the underlying real estate and that through fundamental research, it can uncover and exploit inefficiencies in the market. Under normal circumstances, the fund invests at least 80% of its assets in publicly-traded REITs and companies that are principally engaged in the real estate industry. The fund concentrates its assets in the real estate industry. The fund offers exposure to the equity real estate investment trust (REIT) market utilizing a quality and relative value style with a fundamental security analysis approach designed to identify the most attractive investment candidates. The subadviser believes the value of a REIT extends beyond the value of the underlying real estate and that through fundamental research, it can uncover and exploit inefficiencies in the market. Under normal circumstances, the fund invests at least 80% of its assets in publicly-traded REITs and companies that are principally engaged in the real estate industry. The fund concentrates its assets in the real estate industry.
Top holdings
As of March 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| WELLTOWER INC | — | $37.80M | 11.07% |
| PROLOGIS INC REIT | — | $34.72M | 10.17% |
| EQUINIX INC | — | $29.89M | 8.75% |
| DIGITAL REALTY TRUST INC | — | $19.78M | 5.79% |
| VENTAS INC REIT | — | $15.46M | 4.53% |
| SIMON PROPERTY | — | $15.31M | 4.48% |
| IRON MOUNTAIN INC | — | $14.50M | 4.25% |
| PUBLIC STORAGE | — | $12.21M | 3.58% |
| BRIXMOR PROPERTY | — | $10.83M | 3.17% |
| FIRST INDUSTRIAL REALTY TRUST | — | $10.70M | 3.13% |
Portfolio moves
Dec 31, 2025 → Mar 31, 2026How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| Virtus Duff & Phelps Real Estate Securities Series | 98% | 0.85% |
| Venerable Real Estate Fund | 69% | 0.95% |
| Virtus Duff & Phelps Global Real Estate Securities Fund · VGSAX, VGSCX, VGISX, VRGEX | 67% | 0.87% |
Footnotes
- Expense ratio as of January 23, 2026, from the fund's prospectus.
- Net assets and holdings count as of March 31, 2026, from the fund's N-PORT filing.
- Total return for calendar year 2025, before tax and after fund expenses. Computed by compounding the twelve monthly total returns the fund reported in its SEC N-PORT filings for 2025 (the latest prospectus does not yet chart this year).
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