- ISIN
- US58805V8587
- Issuer
- Mercer Funds
- Inception Date
- Aug 17, 2006
- Category
- Foreign Large Cap Equities
- Min. Investment
- $0
- Distribution Policy
- Distributing
- Asset Class
- Equity
Share Price Chart
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Performance
MNCEX Performance Chart
Mercer Non-US Core Equity Fund (MNCEX) is up 9.4% since the beginning of the year. MNCEX is currently trading at $13 per share. Investors who bought $1,000 worth of MNCEX shares 5 years ago would now be looking at an investment worth $1,584.
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Returns By Period
Mercer Non-US Core Equity Fund (MNCEX) has returned 9.40% so far this year and 24.16% over the past 12 months.
Mercer Non-US Core Equity Fund
- 1D
- -0.45%
- 1M
- 3.64%
- YTD
- 9.40%
- 6M
- 12.10%
- 1Y
- 24.16%
- 3Y*
- 20.14%
- 5Y*
- 9.63%
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.74%
- 1M
- 4.90%
- YTD
- 10.35%
- 6M
- 10.28%
- 1Y
- 26.52%
- 3Y*
- 20.83%
- 5Y*
- 12.30%
- 10Y*
- 13.66%
MNCEX Monthly Returns History
Based on dividend-adjusted daily data since Sep 3, 2019, MNCEX's average daily return is +0.05%, while the average monthly return is +1.04%. At this rate, an investment would double in approximately 5.6 years.
Historically, 62% of months were positive and 38% were negative. The best month was Nov 2020 with a return of +13.6%, while the worst month was Mar 2020 at -13.0%. The longest winning streak lasted 5 consecutive months, and the longest losing streak was 4 months.
On a daily basis, MNCEX closed higher 52% of trading days. The best single day was Mar 24, 2020 with a return of +7.3%, while the worst single day was Mar 12, 2020 at -11.6%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 5.64% | 4.72% | -9.16% | 6.10% | 3.07% | -0.45% | 9.40% | ||||||
| 2025 | 7.01% | -0.46% | 2.69% | 4.15% | 5.37% | 2.88% | -0.32% | 4.57% | 2.38% | -0.37% | 1.50% | 3.15% | 37.46% |
| 2024 | 0.19% | 3.47% | 3.91% | -2.96% | 5.17% | -2.46% | 3.24% | 2.88% | 0.42% | -5.15% | 0.09% | -2.16% | 6.24% |
| 2023 | 8.08% | -1.84% | 1.98% | 2.15% | -3.90% | 5.10% | 2.97% | -3.08% | -2.48% | -4.07% | 8.92% | 4.73% | 18.86% |
| 2022 | -4.91% | -2.91% | -0.39% | -6.40% | 1.35% | -9.30% | 5.07% | -5.47% | -9.19% | 5.75% | 11.35% | -1.10% | -16.89% |
| 2021 | -1.34% | 2.63% | 2.15% | 2.75% | 3.70% | -1.21% | 1.00% | 1.98% | -4.10% | 2.96% | -4.54% | 5.36% | 11.36% |
Benchmark Metrics
Mercer Non-US Core Equity Fund has an annualized alpha of 3.98%, beta of 0.67, and R2 of 0.54 versus S&P 500 Index. Calculated based on daily prices since September 04, 2019.
- This fund participated in 81.20% of S&P 500 Index downside but only 80.85% of its upside - more exposed to losses than it benefited from rallies.
- This fund generated an annualized alpha of 3.98% versus S&P 500 Index - delivering returns beyond what market exposure alone would predict.
- Beta of 0.67 indicates this fund moves significantly less than S&P 500 Index - a genuinely defensive profile with reduced participation in both market rallies and downturns.
- Alpha
- 3.98%
- Beta
- 0.67
- R²
- 0.54
- Upside Capture
- 80.85%
- Downside Capture
- 81.20%
Expense Ratio
MNCEX has an expense ratio of 0.39%, placing it in the medium range.
Return for Risk
Risk / Return Rank
MNCEX ranks 43 for risk / return — on par with similar mutual funds. You're getting a typical balance of risk and reward. Not a standout, but not a red flag either — a reasonable choice if other factors align with your goals.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Mercer Non-US Core Equity Fund (MNCEX) and compare them to S&P 500 Index.
| MNCEX | Benchmark | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.97 | 2.24 | -0.27 |
Sortino ratioReturn per unit of downside risk | 2.83 | 3.07 | -0.24 |
Omega ratioGain probability vs. loss probability | 1.36 | 1.41 | -0.05 |
Calmar ratioReturn relative to maximum drawdown | 2.42 | 2.93 | -0.51 |
Martin ratioReturn relative to average drawdown | 8.76 | 13.52 | -4.76 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Dividends
Dividend History
Mercer Non-US Core Equity Fund provided a 12.47% dividend yield over the last twelve months, with an annual payout of $1.67 per share. The fund has been increasing its distributions for 3 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Dividend | $1.67 | $1.67 | $0.91 | $0.37 | $0.28 | $2.05 |
Dividend yield | 12.47% | 13.64% | 8.97% | 3.60% | 3.14% | 18.31% |
Monthly Dividends
The table displays the monthly dividend distributions for Mercer Non-US Core Equity Fund. 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 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.67 | $1.67 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.91 | $0.91 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.37 | $0.37 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.28 | $0.28 |
| 2021 | $2.05 | $2.05 |
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 Mercer Non-US Core Equity Fund. 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 Mercer Non-US Core Equity Fund was 32.79%, occurring on Mar 18, 2020. Recovery took 132 trading sessions.
The current Mercer Non-US Core Equity Fund drawdown is 1.11%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
COVID crash2020 | -32.79%Mar 2020 | 1mo 25d | 6mo 25d | 8mo 20dJan 2020 - Oct 2020 |
Bear market2022 | -30.57%Sep 2022 | 1y 19d | 1y 5mo | 2y 5moSep 2021 - Feb 2024 |
2025 selloff2025 | -13.79%Apr 2025 | 18d | 18d | 1mo 6dMar 2025 - Apr 2025 |
2026 correction2026 | -11.97%Mar 2026 | 18d | — | 3mo 4dMar 2026 - now |
2025 pullback2025 | -9.79%Jan 2025 | 3mo 15d | 1mo 2d | 4mo 17dSep 2024 - Feb 2025 |
Drawdown Indicators
| MNCEX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.79% | -56.78% | +23.99% |
Max Drawdown (1Y)Largest decline over 1 year | -11.97% | -9.10% | -2.87% |
Max Drawdown (3Y)Largest decline over 3 years | -13.79% | -18.90% | +5.11% |
Max Drawdown (5Y)Largest decline over 5 years | -30.57% | -25.43% | -5.14% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -1.11% | -0.74% | -0.37% |
Average DrawdownAverage peak-to-trough decline | -6.71% | -10.72% | +4.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.11% | 1.97% | +1.14% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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