EXCPX vs. MCDWX
EXCPX (Manning & Napier Unconstrained Bond Series) and MCDWX (Manning & Napier Credit Series) are both mutual funds - EXCPX is a Nontraditional Bonds fund managed by Manning & Napier, while MCDWX is a Intermediate Core Bond fund managed by Manning & Napier. Over the past 5 years, EXCPX returned 1.96%/yr vs 1.26%/yr for MCDWX. Their 0.80 correlation means they have sometimes moved together and sometimes differently. EXCPX charges 0.72%/yr vs 0.10%/yr for MCDWX.
Performance
EXCPX vs. MCDWX - Performance Comparison
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Returns By Period
In the year-to-date period, EXCPX achieves a 0.80% return, which is significantly higher than MCDWX's 0.57% return.
EXCPX
- 1D
- 0.20%
- 1M
- -0.06%
- 6M
- 0.15%
- YTD
- 0.80%
- 1Y
- 2.90%
- 3Y*
- 4.91%
- 5Y*
- 1.96%
- 10Y*
- 2.85%
- ALL TIME*
- 3.95%
MCDWX
- 1D
- 0.11%
- 1M
- -0.21%
- 6M
- 0.17%
- YTD
- 0.57%
- 1Y
- 3.32%
- 3Y*
- 5.45%
- 5Y*
- 1.26%
- 10Y*
- —
- ALL TIME*
- 2.51%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
EXCPX vs. MCDWX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
EXCPX Manning & Napier Unconstrained Bond Series | 0.80% | 6.17% | 4.09% | 6.00% | -6.71% | 2.58% | 10.56% |
MCDWX Manning & Napier Credit Series | 0.57% | 7.57% | 4.13% | 7.31% | -11.13% | 0.01% | 8.77% |
Correlation
The correlation between EXCPX and MCDWX is 0.80, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.80 |
Correlation (3Y) Balances recent behavior with more history. | 0.83 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.83 |
Correlation (All Time) Calculated using the full available price history since Apr 14, 2020 | 0.80 |
The correlation between EXCPX and MCDWX has been stable across timeframes, ranging from 0.80 to 0.83 - a consistent structural relationship.
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Return for Risk
EXCPX vs. MCDWX — Risk / Return Rank
EXCPX
MCDWX
EXCPX vs. MCDWX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Manning & Napier Unconstrained Bond Series (EXCPX) and Manning & Napier Credit Series (MCDWX). 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 | MCDWX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.14 | ||
| Sortino ratioReturn per unit of downside risk | +0.25 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.27 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.31 | 1.86 | +0.45 |
| Martin ratioReturn relative to average drawdown | 7.89 | 5.41 | +2.48 |
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Drawdowns
EXCPX vs. MCDWX - Drawdown Comparison
The maximum EXCPX drawdown since its inception was -9.65%, smaller than the maximum MCDWX drawdown of -15.96%. Use the drawdown chart below to compare losses from any high point for EXCPX and MCDWX.
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Drawdown Indicators
| EXCPX | MCDWX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -9.65% | -15.96% | +6.31% |
Max Drawdown (1Y)Largest decline over 1 year | -1.49% | -2.17% | +0.68% |
Max Drawdown (3Y)Largest decline over 3 years | -1.49% | -3.68% | +2.19% |
Max Drawdown (5Y)Largest decline over 5 years | -9.10% | -15.95% | +6.85% |
Max Drawdown (10Y)Largest decline over 10 years | -9.10% | — | — |
Current DrawdownCurrent decline from peak | -0.46% | -0.94% | +0.48% |
Average DrawdownAverage peak-to-trough decline | -1.28% | -4.07% | +2.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.43% | 0.74% | -0.31% |
Volatility
EXCPX vs. MCDWX - Volatility Comparison
Manning & Napier Unconstrained Bond Series (EXCPX) and Manning & Napier Credit Series (MCDWX) have volatilities of 0.70% and 0.69%, 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 | MCDWX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.70% | 0.69% | +0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 1.86% | 2.33% | -0.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.22% | 2.86% | -0.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.84% | 4.63% | -1.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.41% | 4.34% | -1.93% |
EXCPX vs. MCDWX - Expense Ratio Comparison
EXCPX has a 0.72% expense ratio, which is higher than MCDWX's 0.10% expense ratio.
Dividends
EXCPX vs. MCDWX - Dividend Comparison
EXCPX's dividend yield for the trailing twelve months is around 4.44%, less than MCDWX's 4.55% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EXCPX Manning & Napier Unconstrained Bond Series | 4.44% | 4.36% | 4.32% | 3.72% | 2.58% | 5.66% | 2.61% | 2.37% | 2.56% | 2.28% | 1.95% | 3.16% |
MCDWX Manning & Napier Credit Series | 4.55% | 4.83% | 4.41% | 4.48% | 3.25% | 4.45% | 2.57% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
EXCPX and MCDWX have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EXCPX has higher volatility (0.70%) compared to MCDWX (0.69%). In terms of maximum drawdown, EXCPX dropped -9.65% vs MCDWX's -15.96%.
EXCPX currently has the higher Sharpe Ratio (1.55 vs 1.41), 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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