- ISIN
- US56166Y4382
- CUSIP
- 56166Y438
- Issuer
- Muhlenkamp
- Inception Date
- Nov 1, 1988
- Category
- Large Cap Blend Equities
- Min. Investment
- $1,500
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Large-Cap
- Asset Class Style
- Blend
Share Price Chart
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Performance
MUHLX Performance Chart
Muhlenkamp Fund (MUHLX) is up 9.9% since the beginning of the year. MUHLX is currently trading at $80 per share. Investors who bought $1,000 worth of MUHLX shares 5 years ago would now be looking at an investment worth $1,722.
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Returns By Period
Muhlenkamp Fund (MUHLX) has returned 9.89% so far this year and 20.60% over the past 12 months. Over the last ten years, MUHLX has returned 10.82% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.
Muhlenkamp Fund
- 1D
- -0.16%
- 1M
- -0.85%
- YTD
- 9.89%
- 6M
- 7.71%
- 1Y
- 20.60%
- 3Y*
- 12.67%
- 5Y*
- 11.48%
- 10Y*
- 10.82%
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
MUHLX Monthly Returns History
Based on dividend-adjusted daily data since Nov 1, 1988, MUHLX's average daily return is +0.04%, while the average monthly return is +0.84%. At this rate, an investment would double in approximately 6.9 years.
Historically, 62% of months were positive and 38% were negative. The best month was Dec 2000 with a return of +14.6%, while the worst month was Aug 1998 at -18.1%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 6 months.
On a daily basis, MUHLX closed higher 53% of trading days. The best single day was Mar 24, 2020 with a return of +9.3%, while the worst single day was Mar 16, 2020 at -11.5%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 6.45% | 8.44% | -5.48% | 4.16% | -2.07% | -1.26% | 9.89% | ||||||
| 2025 | 4.75% | -1.00% | 0.08% | -1.97% | 2.81% | 3.88% | -1.40% | 4.51% | 3.49% | -3.25% | 4.66% | 0.42% | 17.82% |
| 2024 | -1.61% | 2.53% | 6.05% | -2.78% | 4.82% | -0.50% | 5.98% | -0.35% | 0.45% | -1.83% | 6.29% | -13.91% | 3.38% |
| 2023 | 2.59% | -1.56% | 0.11% | 0.39% | 0.00% | 6.85% | 4.60% | -1.95% | -3.44% | -2.72% | 4.15% | 4.69% | 13.92% |
| 2022 | -1.45% | 2.55% | 4.27% | -2.74% | 2.86% | -7.34% | 4.51% | 0.21% | -4.31% | 5.41% | 2.27% | -2.51% | 2.89% |
| 2021 | -0.59% | 6.67% | 6.25% | 2.97% | 5.16% | -2.16% | 0.09% | 0.65% | -3.43% | 4.79% | -1.12% | 7.18% | 28.98% |
Benchmark Metrics
Muhlenkamp Fund has an annualized alpha of 1.34%, beta of 0.86, and R2 of 0.76 versus S&P 500 Index. Calculated based on daily prices since November 01, 1988.
- With beta of 0.86 and R2 of 0.76, this fund moves broadly in line with S&P 500 Index - much of its variation is explained by market exposure rather than independent behavior.
- Alpha
- 1.34%
- Beta
- 0.86
- R²
- 0.76
- Upside Capture
- 99.19%
- Downside Capture
- 99.49%
Expense Ratio
MUHLX has a high expense ratio of 1.14%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
MUHLX ranks 29 for risk / return — below 29% of mutual funds on our site. The returns aren't fully compensating for the risk involved. This isn't necessarily a dealbreaker, but factor it into your decision — especially if you're risk-averse.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Muhlenkamp Fund (MUHLX) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| MUHLX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.60 | ||
| Sortino ratioReturn per unit of downside risk | -0.79 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.37 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 2.01 | 2.78 | -0.77 |
| Martin ratioReturn relative to average drawdown | 7.08 | 12.44 | -5.36 |
Dividends
Dividend History
Muhlenkamp Fund provided a 3.04% dividend yield over the last twelve months, with an annual payout of $2.44 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $2.44 | $2.44 | $0.37 | $0.55 | $3.75 | $4.44 | $4.91 | $0.59 | $6.13 | $2.38 | $0.00 | $5.55 |
Dividend yield | 3.04% | 3.34% | 0.58% | 0.89% | 6.80% | 7.77% | 10.28% | 1.26% | 14.70% | 4.30% | 0.00% | 11.02% |
Monthly Dividends
The table displays the monthly dividend distributions for Muhlenkamp 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 | $2.44 | $2.44 |
| 2024 | $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 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.55 | $0.55 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $3.75 | $3.75 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $4.44 | $4.44 |
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 Muhlenkamp 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 Muhlenkamp Fund was 62.05%, occurring on Mar 9, 2009. Recovery took 1257 trading sessions.
The current Muhlenkamp Fund drawdown is 4.97%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Financial crisis2007–2009 | -62.05%Mar 2009 | 1y 9mo | 4y 12mo | 6y 9moJun 2007 - Mar 2014 |
COVID crash2020 | -40.85%Mar 2020 | 2y 2mo | 8mo 6d | 2y 10moJan 2018 - Nov 2020 |
Dot-com crash2000–2002 | -39.67%Oct 2002 | 5mo 18d | 1y 4d | 1y 5moApr 2002 - Oct 2003 |
1990 bear market1990 | -35.98%Oct 1990 | 1y 6d | 11mo 7d | 1y 11moOct 1989 - Sep 1991 |
1998 bear market1998 | -32.64%Oct 1998 | 3mo 1d | 8mo 27d | 11mo 28dJul 1998 - Jul 1999 |
Drawdown Indicators
| MUHLX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -62.05% | -56.78% | -5.27% |
Max Drawdown (1Y)Largest decline over 1 year | -10.23% | -9.10% | -1.13% |
Max Drawdown (3Y)Largest decline over 3 years | -18.63% | -18.90% | +0.27% |
Max Drawdown (5Y)Largest decline over 5 years | -18.63% | -25.43% | +6.80% |
Max Drawdown (10Y)Largest decline over 10 years | -40.85% | -33.92% | -6.93% |
Current DrawdownCurrent decline from peak | -4.97% | -1.80% | -3.17% |
Average DrawdownAverage peak-to-trough decline | -10.76% | -10.71% | -0.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.91% | 2.03% | +0.88% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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