# Virtus Equity & Convertible Income Fund (NIE): Closed-End Fund Facts & Distributions > Markdown mirror of https://www.dividenddata.com/funds/nie for AI agents. Same live data as the HTML page, regenerated on the same refresh cycle. Not investment advice. - Issuer: — · Asset class: Equity - Strategy: Actively Managed · Inception: 2007-02-23 The Virtus Equity & Convertible Income Fund is a closed-end mutual fund designed to invest in a mix of stocks and income-producing convertible securities. The fund's primary focus is on public equity markets within the United States, targeting companies across diverse economic sectors. A significant portion of its equity holdings comprises growth-oriented companies. Its investment strategy is rooted in comprehensive fundamental analysis, seeking out firms that exhibit characteristics such as exceptional earnings growth, a high return on invested capital, strong or improving financial stabil... ## Key Facts | Metric | Value | |---|---| | Price | $24.65 | | Expense Ratio | 1.07% | | Market Value | $683.0M | | NAV | Not on file (no daily NAV for closed-end funds) | | Holdings Count | — | | Distribution Yield (TTM) | 10.90% | | Annual Distribution (TTM) | $2.69 /share | | Distribution Frequency | Quarterly | | 52-Week Range | $22.78 – $27.24 | | Beta | 1.09 | ## Latest Distribution - Amount: $0.5800 /share - Ex-date: 2026-09-14 - Pay date: 2026-09-29 ## Frequently Asked Questions ### What does NIE invest in? The Virtus Equity & Convertible Income Fund is a closed-end mutual fund designed to invest in a mix of stocks and income-producing convertible securities. The fund's primary focus is on public equity markets within the United States, targeting companies across diverse economic sectors. A significant portion of its equity holdings comprises growth-oriented companies. Its investment strategy is rooted in comprehensive fundamental analysis, seeking out firms that exhibit characteristics such as exceptional earnings growth, a high return on invested capital, strong or improving financial stability, pronounced competitive advantages, and engagement in developing new technologies. Initially known as the AGIC Equity & Convertible Income Fund, it was established in the United States on February 27, 2007. ### What is the expense ratio of NIE? Virtus Equity & Convertible Income Fund (NIE) charges an expense ratio of 1.07%. This is the annual fee deducted from fund assets to cover management and operations. ### What is NIE's dividend yield? NIE's trailing-twelve-month yield is 10.90%, calculated from the sum of dividends over the past year divided by the current price. ### How big is NIE? Virtus Equity & Convertible Income Fund (NIE) has a market value of $683.0M: its share price times its shares outstanding. A closed-end fund trades above or below its net asset value, so its net assets differ from this figure. AUM determines bid-ask liquidity and the fund's vulnerability to closure. Funds below ~$50M are at higher risk of liquidation. ### Is NIE actively managed or an index fund? NIE is actively managed: the manager selects holdings rather than tracking an index. Active funds typically charge higher expense ratios than index funds (NIE's is 1.07%) in exchange for the discretion to over- or under-weight positions. ### When was NIE launched? Virtus Equity & Convertible Income Fund (NIE) launched in February 2007 and is managed by the fund issuer. ### Does NIE pay a dividend? Yes, Virtus Equity & Convertible Income Fund (NIE) distributes dividends to shareholders. The trailing-twelve-month yield is 10.90%. Full dividend history is on this page. ### How often does NIE pay dividends? Virtus Equity & Convertible Income Fund pays dividends Quarterly. Each ex-dividend date, record date, and payment date is listed in the dividend history table on this page. ### When is NIE's next ex-dividend date? The most recently announced ex-dividend date for NIE was 2026-09-14. The next ex-date typically follows Quarterly; once announced it appears at the top of the dividend history table on this page. ### How much will NIE's expense ratio cost me over 30 years? On a $10,000 investment compounding at 7% gross return, a 1.07% expense ratio quietly compounds against your balance every year. The Fee Compounding Forecast card above projects the dollar drag for any holding period and assumption you pick. The typical result for a 1.0% expense ratio on a 30-year hold is roughly 25% of the final balance lost to fees. ### How does NIE charge its expense ratio? The expense ratio is deducted in tiny daily slices from NIE's net asset value (NAV). You never see a bill. The price quoted on every exchange is already net of fees. There's no "fee day" to avoid; the cost is continuous and built into the trading price. ### Why does NIE cost more than a fund like VOO? NIE is actively managed (current expense ratio 1.07%). Active funds charge more than passive index trackers in exchange for the manager's discretion to over- or under-weight positions. The Cost Verdict card above tells you whether NIE's fee is competitive for the active-management cohort. ### Are there cheaper alternatives to NIE? The Lower-Fee Alternatives card above lists closed-end funds following the same investment strategy as NIE (1.07%) but at a lower expense ratio. Each row shows the fee gap, the peer's AUM as a liquidity sanity-check, and a direct link to that fund's analysis page. Cheaper price doesn't automatically mean better. Verify the peer holds what you actually want. ## More on Dividend Data - Overview (HTML): https://www.dividenddata.com/funds/nie - Distribution history: https://www.dividenddata.com/funds/nie/dividend - Holdings & diversification: https://www.dividenddata.com/funds/nie/diversification - Fees & cheaper alternatives: https://www.dividenddata.com/funds/nie/expenses - Peer comparison: https://www.dividenddata.com/funds/nie/peers Data sourced from primary filings and market data providers; see https://www.dividenddata.com/methodology.