EXBAX vs. EXCRX

Last updated Jun 24, 2026

EXBAX (Manning & Napier Pro-Blend Moderate Term Series) and EXCRX (Manning & Napier Core Bond Series) are both mutual funds - EXBAX is a Diversified Portfolio fund managed by Manning & Napier, while EXCRX is a Intermediate Core Bond fund managed by Manning & Napier. Over the past 10 years, EXBAX returned 5.66%/yr vs 1.45%/yr for EXCRX. At a 0.17 correlation, their price movements are largely independent. EXBAX charges 1.07%/yr vs 0.65%/yr for EXCRX.

Performance

EXBAX vs. EXCRX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Manning & Napier Pro-Blend Moderate Term Series (EXBAX) and Manning & Napier Core Bond Series (EXCRX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EXBAX achieves a 0.90% return, which is significantly higher than EXCRX's 0.33% return. Over the past 10 years, EXBAX has outperformed EXCRX with an annualized return of 5.66%, while EXCRX has yielded a comparatively lower 1.45% annualized return.

EXBAX

• 1D: -0.48%
• 1M: 0.55%
• YTD: 0.90%
• 6M: 0.62%
• 1Y: 6.61%
• 3Y*: 6.99%
• 5Y*: 2.54%
• 10Y*: 5.66%

EXCRX

• 1D: -0.22%
• 1M: 0.79%
• YTD: 0.33%
• 6M: 0.44%
• 1Y: 3.70%
• 3Y*: 3.68%
• 5Y*: -0.22%
• 10Y*: 1.45%

*Multi-year figures are annualized to reflect compound growth (CAGR)

EXBAX vs. EXCRX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EXBAX Manning & Napier Pro-Blend Moderate Term Series	0.90%	9.29%	6.11%	11.13%	-14.52%	7.97%	14.96%	16.15%	-3.54%	11.59%
EXCRX Manning & Napier Core Bond Series	0.33%	6.82%	1.05%	5.47%	-13.20%	-1.89%	8.66%	8.18%	-0.74%	2.91%

Correlation

The correlation between EXBAX and EXCRX is 0.59, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.59
Correlation (3Y) Calculated over the trailing 3-year period	0.61
Correlation (5Y) Calculated over the trailing 5-year period	0.54
Correlation (10Y) Calculated over the trailing 10-year period	0.38
Correlation (All Time) Calculated using the full available price history since Apr 28, 2005	0.17

Over the past year, EXBAX and EXCRX have become more correlated (0.59) than their long-term average of 0.17, meaning their price movements have been converging.

Return for Risk

EXBAX vs. EXCRX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

EXBAX

EXBAX Risk / Return Rank: 14
EXBAX Sharpe Ratio Rank: 15
EXBAX Sortino Ratio Rank: 15
EXBAX Omega Ratio Rank: 14
EXBAX Calmar Ratio Rank: 11
EXBAX Martin Ratio Rank: 15

EXCRX

EXCRX Risk / Return Rank: 16
EXCRX Sharpe Ratio Rank: 16
EXCRX Sortino Ratio Rank: 17
EXCRX Omega Ratio Rank: 15
EXCRX Calmar Ratio Rank: 16
EXCRX Martin Ratio Rank: 15

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

EXBAX vs. EXCRX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Manning & Napier Pro-Blend Moderate Term Series (EXBAX) and Manning & Napier Core Bond Series (EXCRX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

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.

	EXBAX	EXCRX	Difference
Sharpe ratio: Return per unit of total volatility	1.02	1.05	-0.03
Sortino ratio: Return per unit of downside risk	1.49	1.57	-0.08
Omega ratio: Gain probability vs. loss probability	1.18	1.18	0.00
Calmar ratio: Return relative to maximum drawdown	0.99	1.34	-0.35
Martin ratio: Return relative to average drawdown	3.90	3.90	0.00

EXBAX vs. EXCRX - Sharpe Ratio Comparison

The current EXBAX Sharpe Ratio is 1.02, which is comparable to the EXCRX Sharpe Ratio of 1.05. The chart below compares the historical Sharpe Ratios of EXBAX and EXCRX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

EXBAX vs. EXCRX - Drawdown Comparison

The maximum EXBAX drawdown since its inception was -29.86%, which is greater than EXCRX's maximum drawdown of -18.70%. Use the drawdown chart below to compare losses from any high point for EXBAX and EXCRX.

Drawdown Indicators

	EXBAX	EXCRX	Difference
Max Drawdown Largest peak-to-trough decline	-29.86%	-18.70%	-11.16%
Max Drawdown (1Y) Largest decline over 1 year	-7.37%	-3.10%	-4.27%
Max Drawdown (3Y) Largest decline over 3 years	-7.52%	-6.03%	-1.49%
Max Drawdown (5Y) Largest decline over 5 years	-19.23%	-18.65%	-0.58%
Max Drawdown (10Y) Largest decline over 10 years	-19.23%	-18.70%	-0.53%
Current Drawdown Current decline from peak	-1.35%	-2.73%	+1.38%
Average Drawdown Average peak-to-trough decline	-5.05%	-2.87%	-2.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.87%	1.07%	+0.80%

Volatility

EXBAX vs. EXCRX - Volatility Comparison

Manning & Napier Pro-Blend Moderate Term Series (EXBAX) has a higher volatility of 2.67% compared to Manning & Napier Core Bond Series (EXCRX) at 1.12%. This indicates that EXBAX's price experiences larger fluctuations and is considered to be riskier than EXCRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EXBAX	EXCRX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.67%	1.12%	+1.55%
Volatility (6M) Calculated over the trailing 6-month period	6.05%	3.03%	+3.02%
Volatility (1Y) Calculated over the trailing 1-year period	7.21%	3.99%	+3.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.65%	5.91%	+1.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.69%	4.86%	+2.83%

EXBAX vs. EXCRX - Expense Ratio Comparison

EXBAX has a 1.07% expense ratio, which is higher than EXCRX's 0.65% expense ratio.

Dividends

EXBAX vs. EXCRX - Dividend Comparison

EXBAX's dividend yield for the trailing twelve months is around 5.72%, more than EXCRX's 4.23% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EXBAX Manning & Napier Pro-Blend Moderate Term Series	5.72%	5.77%	4.57%	2.27%	0.99%	6.67%	6.31%	4.83%	5.08%	6.09%	1.81%	0.58%
EXCRX Manning & Napier Core Bond Series	4.23%	4.18%	3.82%	3.64%	2.23%	2.28%	5.15%	2.01%	2.32%	1.94%	2.14%	2.45%

Frequently Asked Questions

Can I hold both EXBAX and EXCRX in my portfolio?

EXBAX and EXCRX have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EXBAX or EXCRX?

EXBAX has higher volatility (2.67%) compared to EXCRX (1.12%). In terms of maximum drawdown, EXBAX dropped -29.86% vs EXCRX's -18.70%.

Which has better risk-adjusted returns?

EXCRX currently has the higher Sharpe Ratio (1.05 vs 1.02), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.