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Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in Manning & Napier Credit Series, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
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Returns By Period
Manning & Napier Credit Series (MCDWX) has returned -0.35% so far this year and 4.74% over the past 12 months.
Manning & Napier Credit Series
- 1D
- 0.33%
- 1M
- -1.84%
- YTD
- -0.35%
- 6M
- 0.98%
- 1Y
- 4.74%
- 3Y*
- 5.19%
- 5Y*
- 1.76%
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- 2.91%
- 1M
- -5.09%
- YTD
- -4.63%
- 6M
- -2.39%
- 1Y
- 16.33%
- 3Y*
- 16.69%
- 5Y*
- 10.18%
- 10Y*
- 12.16%
Monthly Returns
Based on dividend-adjusted daily data since Apr 14, 2020, MCDWX's average daily return is +0.01%, while the average monthly return is +0.22%. At this rate, your investment would double in approximately 26.3 years.
Historically, 58% of months were positive and 42% were negative. The best month was Nov 2023 with a return of +3.9%, while the worst month was Sep 2022 at -3.9%. The longest winning streak lasted 7 consecutive months, and the longest losing streak was 4 months.
On a daily basis, MCDWX closed higher 44% of trading days. The best single day was Nov 10, 2022 with a return of +1.6%, while the worst single day was Jun 13, 2022 at -1.4%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.40% | 1.12% | -1.84% | -0.35% | |||||||||
| 2025 | 0.51% | 1.74% | 0.08% | 0.30% | 0.03% | 1.33% | -0.03% | 1.31% | 0.73% | 0.51% | 0.70% | 0.13% | 7.57% |
| 2024 | 0.33% | -0.95% | 1.06% | -2.24% | 1.67% | 1.23% | 1.72% | 1.57% | 1.15% | -1.61% | 1.00% | -0.76% | 4.13% |
| 2023 | 2.96% | -1.92% | 1.92% | 0.48% | -0.47% | -0.22% | 0.37% | -0.22% | -1.79% | -1.12% | 3.92% | 3.37% | 7.31% |
| 2022 | -1.87% | -1.41% | -2.30% | -2.93% | 0.00% | -1.65% | 2.20% | -1.94% | -3.85% | -1.50% | 3.39% | 0.34% | -11.13% |
| 2021 | -0.47% | -1.04% | -0.91% | 0.97% | 0.67% | 0.89% | 0.86% | -0.19% | -0.59% | -0.10% | -0.19% | 0.15% | 0.01% |
Benchmark Metrics
Manning & Napier Credit Series has an annualized alpha of 2.02%, beta of 0.04, and R² of 0.02 versus S&P 500 Index. Calculated based on daily prices since April 15, 2020.
- This fund participated in 27.97% of S&P 500 Index downside but only 17.60% of its upside — more exposed to losses than it benefited from rallies.
- Beta of 0.04 may look defensive, but with R² of 0.02 this fund is largely uncorrelated with S&P 500 Index — low beta reflects independence, not downside protection. See the Volatility section for a true picture of this fund's risk.
- R² of 0.02 means this fund moves largely independently of S&P 500 Index — capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 2.02%
- Beta
- 0.04
- R²
- 0.02
- Upside Capture
- 17.60%
- Downside Capture
- 27.97%
Expense Ratio
MCDWX has an expense ratio of 0.10%, which is considered low.
Return for Risk
Risk / Return Rank
MCDWX ranks 81 for risk / return — in the top 81% of mutual funds on our site. This means strong returns relative to risk — exactly what professional investors look for. Well-suited for investors who want to maximize return per unit of risk.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Manning & Napier Credit Series (MCDWX) and compare them to a chosen benchmark (S&P 500 Index).
| MCDWX | Benchmark | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.44 | 0.90 | +0.54 |
Sortino ratioReturn per unit of downside risk | 2.03 | 1.39 | +0.64 |
Omega ratioGain probability vs. loss probability | 1.28 | 1.21 | +0.07 |
Calmar ratioReturn relative to maximum drawdown | 2.37 | 1.40 | +0.97 |
Martin ratioReturn relative to average drawdown | 8.65 | 6.61 | +2.04 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Explore MCDWX risk-adjusted metrics in detail
Dive deeper into individual metrics with historical trends, benchmark comparisons, and performance across different time periods.
Dividends
Dividend History
Manning & Napier Credit Series provided a 4.44% dividend yield over the last twelve months, with an annual payout of $0.40 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Dividend | $0.40 | $0.44 | $0.39 | $0.40 | $0.28 | $0.45 | $0.27 |
Dividend yield | 4.44% | 4.83% | 4.41% | 4.48% | 3.25% | 4.45% | 2.57% |
Monthly Dividends
The table displays the monthly dividend distributions for Manning & Napier Credit Series. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.03 | $0.03 | $0.00 | $0.06 | |||||||||
| 2025 | $0.03 | $0.04 | $0.04 | $0.04 | $0.03 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.03 | $0.05 | $0.44 |
| 2024 | $0.01 | $0.03 | $0.03 | $0.00 | $0.04 | $0.04 | $0.03 | $0.04 | $0.03 | $0.03 | $0.04 | $0.06 | $0.39 |
| 2023 | $0.01 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.08 | $0.40 |
| 2022 | $0.00 | $0.00 | $0.03 | $0.00 | $0.00 | $0.05 | $0.00 | $0.00 | $0.07 | $0.00 | $0.00 | $0.13 | $0.28 |
| 2021 | $0.00 | $0.00 | $0.03 | $0.00 | $0.00 | $0.05 | $0.00 | $0.00 | $0.06 | $0.00 | $0.00 | $0.31 | $0.45 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Manning & Napier Credit Series. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Manning & Napier Credit Series was 15.96%, occurring on Oct 20, 2022. Recovery took 587 trading sessions.
The current Manning & Napier Credit Series drawdown is 1.84%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -15.96% | Aug 4, 2021 | 307 | Oct 20, 2022 | 587 | Feb 25, 2025 | 894 |
| -2.5% | Jan 4, 2021 | 52 | Mar 18, 2021 | 72 | Jun 30, 2021 | 124 |
| -2.2% | Apr 7, 2025 | 5 | Apr 11, 2025 | 36 | Jun 4, 2025 | 41 |
| -2.17% | Mar 2, 2026 | 19 | Mar 26, 2026 | — | — | — |
| -1.4% | May 1, 2020 | 7 | May 11, 2020 | 7 | May 20, 2020 | 14 |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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