EXEYX vs. MRFOX

Last updated Apr 2, 2026

Compare and contrast key facts about Manning & Napier Equity Series (EXEYX) and Marshfield Concentrated Opportunity Fund (MRFOX).

EXEYX is managed by Manning & Napier. It was launched on May 1, 1998. MRFOX is managed by Marshfield. It was launched on Dec 29, 2015.

Performance

EXEYX vs. MRFOX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Manning & Napier Equity Series (EXEYX) and Marshfield Concentrated Opportunity Fund (MRFOX). The values are adjusted to include any dividend payments, if applicable.

EXEYX vs. MRFOX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EXEYX Manning & Napier Equity Series	-10.84%	8.77%	15.87%	24.52%	-19.51%	25.41%	23.74%	33.64%	-3.94%	28.89%
MRFOX Marshfield Concentrated Opportunity Fund	-2.97%	10.05%	17.10%	17.68%	5.06%	17.71%	15.19%	36.26%	1.89%	25.92%

Returns By Period

In the year-to-date period, EXEYX achieves a -10.84% return, which is significantly lower than MRFOX's -2.97% return. Over the past 10 years, EXEYX has underperformed MRFOX with an annualized return of 11.69%, while MRFOX has yielded a comparatively higher 15.31% annualized return.

EXEYX

• 1D: 2.99%
• 1M: -6.80%
• YTD: -10.84%
• 6M: -7.56%
• 1Y: 3.03%
• 3Y*: 9.29%
• 5Y*: 5.43%
• 10Y*: 11.69%

MRFOX

• 1D: 1.16%
• 1M: -4.29%
• YTD: -2.97%
• 6M: -3.36%
• 1Y: 3.66%
• 3Y*: 12.79%
• 5Y*: 10.99%
• 10Y*: 15.31%

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

EXEYX vs. MRFOX - Expense Ratio Comparison

Both EXEYX and MRFOX have an expense ratio of 1.05%.

EXEYX

Manning & Napier Equity Series

MRFOX

Marshfield Concentrated Opportunity Fund

Return for Risk

EXEYX vs. MRFOX — Risk / Return Rank

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

EXEYX

EXEYX Risk / Return Rank: 7
EXEYX Sharpe Ratio Rank: 7
EXEYX Sortino Ratio Rank: 7
EXEYX Omega Ratio Rank: 7
EXEYX Calmar Ratio Rank: 8
EXEYX Martin Ratio Rank: 8

MRFOX

MRFOX Risk / Return Rank: 14
MRFOX Sharpe Ratio Rank: 12
MRFOX Sortino Ratio Rank: 11
MRFOX Omega Ratio Rank: 10
MRFOX Calmar Ratio Rank: 21
MRFOX Martin Ratio Rank: 16

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.

EXEYX vs. MRFOX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Manning & Napier Equity Series (EXEYX) and Marshfield Concentrated Opportunity Fund (MRFOX). 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.

	EXEYX	MRFOX	Difference
Sharpe ratio Return per unit of total volatility	0.18	0.33	-0.15
Sortino ratio Return per unit of downside risk	0.40	0.57	-0.17
Omega ratio Gain probability vs. loss probability	1.05	1.07	-0.01
Calmar ratio Return relative to maximum drawdown	0.24	0.68	-0.45
Martin ratio Return relative to average drawdown	0.85	1.75	-0.90
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EXEYX vs. MRFOX - Sharpe Ratio Comparison

The current EXEYX Sharpe Ratio is 0.18, which is lower than the MRFOX Sharpe Ratio of 0.33. The chart below compares the historical Sharpe Ratios of EXEYX and MRFOX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	EXEYX	MRFOX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.18	0.33	-0.15
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.32	0.92	-0.59
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.65	1.07	-0.42
Sharpe Ratio (All Time) Calculated using the full available price history	0.47	1.06	-0.59

Correlation

The correlation between EXEYX and MRFOX is 0.78, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

EXEYX vs. MRFOX - Dividend Comparison

EXEYX's dividend yield for the trailing twelve months is around 12.63%, more than MRFOX's 1.67% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EXEYX Manning & Napier Equity Series	12.63%	11.26%	11.88%	3.11%	13.28%	16.60%	8.31%	10.39%	20.49%	7.57%	4.98%	44.53%
MRFOX Marshfield Concentrated Opportunity Fund	1.67%	1.62%	4.59%	0.46%	0.35%	6.78%	2.68%	1.39%	1.94%	2.06%	0.60%	0.00%

Drawdowns

EXEYX vs. MRFOX - Drawdown Comparison

The maximum EXEYX drawdown since its inception was -54.49%, which is greater than MRFOX's maximum drawdown of -29.10%. Use the drawdown chart below to compare losses from any high point for EXEYX and MRFOX.

Drawdown Indicators

	EXEYX	MRFOX	Difference
Max Drawdown Largest peak-to-trough decline	-54.49%	-29.10%	-25.39%
Max Drawdown (1Y) Largest decline over 1 year	-16.40%	-7.09%	-9.31%
Max Drawdown (5Y) Largest decline over 5 years	-25.62%	-12.98%	-12.64%
Max Drawdown (10Y) Largest decline over 10 years	-32.30%	-29.10%	-3.20%
Current Drawdown Current decline from peak	-13.62%	-5.32%	-8.30%
Average Drawdown Average peak-to-trough decline	-7.88%	-2.37%	-5.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.53%	2.77%	+1.76%

Volatility

EXEYX vs. MRFOX - Volatility Comparison

Manning & Napier Equity Series (EXEYX) has a higher volatility of 5.63% compared to Marshfield Concentrated Opportunity Fund (MRFOX) at 3.04%. This indicates that EXEYX's price experiences larger fluctuations and is considered to be riskier than MRFOX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EXEYX	MRFOX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.63%	3.04%	+2.59%
Volatility (6M) Calculated over the trailing 6-month period	10.84%	7.08%	+3.76%
Volatility (1Y) Calculated over the trailing 1-year period	19.08%	11.83%	+7.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.86%	12.04%	+4.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.91%	14.29%	+3.62%