Understanding the VIRTUS SEIX Senior Loan ETF (SEIX)

What this ETF is trying to do

The VIRTUS SEIX Senior Loan ETF, known by its ticker symbol SEIX, is an exchange-traded fund. This type of investment is designed to give investors access to "senior loans." These are types of loans made to companies.

What the numbers show

As of July 10, 2026, the current price of one share is $23.18. If we look back at the last year, the price has changed slightly. One year ago, the estimated price was about $23.71.

When looking at returns, it is important to see two different numbers: the "price return" and the "total return."

• The one-year price return was -2.2353%. This means the share price itself went down a little bit.

• The one-year total return was 5.0337%. This number is higher because it includes the extra money paid out to investors.

Over three years, the price return was -2.1693%, but the total return was much higher at 23.9891%.

Income and distribution explanation

This ETF pays out money to investors, which is called a "distribution." The trailing distributions over the last year were $1.6779 per share. This results in a distribution yield of 7.2386%.

The fund usually makes these payments every month, with 12 payouts recorded over the last 12 months. It is important to remember that a high yield alone can be misleading. A high percentage might look good, but you must also look at whether the share price is staying steady or falling.

NAV erosion explanation

"NAV erosion" happens when the value of the underlying assets in the ETF drops, causing the share price to fall over time. If an ETF's price collapses from a high number to a much lower number, it can destroy your "principal." Principal is the original amount of money you put in.

For example, if you invested $10,000 into an ETF and the price dropped significantly, you might only have $8,000 left. Even if the ETF pays you monthly income, that income might not be enough to make up for the $2,000 you lost in share value.

In the case of SEIX, the "erosion score" is 94, which is labeled as "Stable / sideways." This means it does not show signs of severe erosion.

Pros

• The total returns over one year and three years are positive.

• It provides regular monthly income.

• The price movement is described as stable or "sideways" rather than crashing.

Cons

• The actual share price has seen some decreases (negative price returns).

• Investors must rely on distributions to make the total return positive.

Beginner takeaway

Income investors usually prefer ETFs that go sideways (stay at a steady price) or move slightly up. They prefer this because they want to collect their monthly payments without losing the original money they invested. While SEIX has had some price drops, its total returns have remained positive due to its distributions.