EXCPX vs. EGRIX
EXCPX (Manning & Napier Unconstrained Bond Series) and EGRIX (Eaton Vance Global Macro Absolute Return Advantage Fund) are both Nontraditional Bonds funds. Over the past 10 years, EXCPX returned 2.94%/yr vs 6.59%/yr for EGRIX. At a 0.04 correlation, their price movements are largely independent. EXCPX charges 0.72%/yr vs 1.05%/yr for EGRIX.
Performance
EXCPX vs. EGRIX - Performance Comparison
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Returns By Period
In the year-to-date period, EXCPX achieves a 0.72% return, which is significantly lower than EGRIX's 7.87% return. Over the past 10 years, EXCPX has underperformed EGRIX with an annualized return of 2.94%, while EGRIX has yielded a comparatively higher 6.59% annualized return.
EXCPX
- 1D
- -0.10%
- 1M
- 0.07%
- YTD
- 0.72%
- 6M
- 0.82%
- 1Y
- 3.62%
- 3Y*
- 5.09%
- 5Y*
- 2.05%
- 10Y*
- 2.94%
EGRIX
- 1D
- 0.08%
- 1M
- 1.78%
- YTD
- 7.87%
- 6M
- 8.65%
- 1Y
- 20.31%
- 3Y*
- 13.21%
- 5Y*
- 8.89%
- 10Y*
- 6.59%
EXCPX vs. EGRIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EXCPX Manning & Napier Unconstrained Bond Series | 0.72% | 6.17% | 4.09% | 6.00% | -6.71% | 2.58% | 7.54% | 5.01% | 0.20% | 3.19% |
EGRIX Eaton Vance Global Macro Absolute Return Advantage Fund | 7.87% | 20.36% | 9.50% | 8.37% | -1.94% | 3.66% | 4.71% | 14.80% | -8.34% | 5.78% |
Correlation
The correlation between EXCPX and EGRIX is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.26 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.29 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.14 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.10 |
Correlation (All Time) Calculated using the full available price history since Sep 1, 2010 | 0.04 |
Over the past year, EXCPX and EGRIX have become more correlated (0.26) than their long-term average of 0.04, meaning their price movements have been converging.
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Return for Risk
EXCPX vs. EGRIX — Risk / Return Rank
EXCPX
EGRIX
EXCPX vs. EGRIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Manning & Napier Unconstrained Bond Series (EXCPX) and Eaton Vance Global Macro Absolute Return Advantage Fund (EGRIX). 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.
| EXCPX | EGRIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.97 | ||
| Sortino ratioReturn per unit of downside risk | -5.56 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 2.57 | -1.20 |
| Calmar ratioReturn relative to maximum drawdown | 2.65 | 6.09 | -3.44 |
| Martin ratioReturn relative to average drawdown | 9.95 | 22.04 | -12.09 |
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Drawdowns
EXCPX vs. EGRIX - Drawdown Comparison
The maximum EXCPX drawdown since its inception was -9.65%, smaller than the maximum EGRIX drawdown of -14.17%. Use the drawdown chart below to compare losses from any high point for EXCPX and EGRIX.
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Drawdown Indicators
| EXCPX | EGRIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -9.65% | -14.17% | +4.52% |
Max Drawdown (1Y)Largest decline over 1 year | -1.49% | -3.37% | +1.88% |
Max Drawdown (3Y)Largest decline over 3 years | -1.49% | -3.37% | +1.88% |
Max Drawdown (5Y)Largest decline over 5 years | -9.10% | -10.18% | +1.08% |
Max Drawdown (10Y)Largest decline over 10 years | -9.10% | -14.17% | +5.07% |
Current DrawdownCurrent decline from peak | -0.55% | 0.00% | -0.55% |
Average DrawdownAverage peak-to-trough decline | -1.28% | -1.83% | +0.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.40% | 0.93% | -0.53% |
Volatility
EXCPX vs. EGRIX - Volatility Comparison
Manning & Napier Unconstrained Bond Series (EXCPX) and Eaton Vance Global Macro Absolute Return Advantage Fund (EGRIX) have volatilities of 0.70% and 0.72%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EXCPX | EGRIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.70% | 0.72% | -0.02% |
Volatility (6M)Calculated over the trailing 6-month period | 1.74% | 3.20% | -1.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.22% | 3.57% | -1.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.83% | 4.04% | -1.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.40% | 3.96% | -1.56% |
EXCPX vs. EGRIX - Expense Ratio Comparison
EXCPX has a 0.72% expense ratio, which is lower than EGRIX's 1.05% expense ratio.
Dividends
EXCPX vs. EGRIX - Dividend Comparison
EXCPX's dividend yield for the trailing twelve months is around 4.30%, less than EGRIX's 6.17% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EGRIX Eaton Vance Global Macro Absolute Return Advantage Fund | 6.17% | 6.65% | 6.00% | 3.40% | 4.82% | 4.89% | 5.82% | 4.15% | 0.06% | 3.22% | 1.78% | 6.67% |
EXCPX Manning & Napier Unconstrained Bond Series | 4.30% | 4.36% | 4.32% | 3.72% | 2.58% | 5.66% | 2.61% | 2.37% | 2.56% | 2.28% | 1.95% | 3.16% |
Frequently Asked Questions
EXCPX and EGRIX have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EGRIX has higher volatility (0.72%) compared to EXCPX (0.70%). In terms of maximum drawdown, EXCPX dropped -9.65% vs EGRIX's -14.17%.
EGRIX currently has the higher Sharpe Ratio (5.75 vs 1.78), 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.
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