EXHAX vs. FRGAX

Last updated Apr 1, 2026

Compare and contrast key facts about Manning & Napier Pro-Blend Maximum Term Series (EXHAX) and Fidelity 70% Allocation Fund (FRGAX).

EXHAX is managed by Manning & Napier. It was launched on Oct 31, 1995. FRGAX is an actively managed fund by Fidelity. It was launched on Jan 1, 2022.

Performance

EXHAX vs. FRGAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Manning & Napier Pro-Blend Maximum Term Series (EXHAX) and Fidelity 70% Allocation Fund (FRGAX). The values are adjusted to include any dividend payments, if applicable.

EXHAX vs. FRGAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
EXHAX Manning & Napier Pro-Blend Maximum Term Series	-9.38%	12.05%	11.86%	19.08%	-2.14%
FRGAX Fidelity 70% Allocation Fund	-3.53%	17.10%	12.91%	17.57%	-1.63%

Returns By Period

In the year-to-date period, EXHAX achieves a -9.38% return, which is significantly lower than FRGAX's -3.53% return.

EXHAX

• 1D: 0.31%
• 1M: -9.52%
• YTD: -9.38%
• 6M: -5.53%
• 1Y: 4.08%
• 3Y*: 8.00%
• 5Y*: 3.98%
• 10Y*: 8.97%

FRGAX

• 1D: -0.17%
• 1M: -6.67%
• YTD: -3.53%
• 6M: -1.21%
• 1Y: 13.49%
• 3Y*: 12.30%
• 5Y*: —
• 10Y*: —

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

EXHAX vs. FRGAX - Expense Ratio Comparison

EXHAX has a 1.10% expense ratio, which is higher than FRGAX's 0.02% expense ratio.

EXHAX

Manning & Napier Pro-Blend Maximum Term Series

FRGAX

Fidelity 70% Allocation Fund

Return for Risk

EXHAX vs. FRGAX — Risk / Return Rank

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

EXHAX

EXHAX Risk / Return Rank: 10
EXHAX Sharpe Ratio Rank: 11
EXHAX Sortino Ratio Rank: 10
EXHAX Omega Ratio Rank: 10
EXHAX Calmar Ratio Rank: 10
EXHAX Martin Ratio Rank: 11

FRGAX

FRGAX Risk / Return Rank: 64
FRGAX Sharpe Ratio Rank: 63
FRGAX Sortino Ratio Rank: 65
FRGAX Omega Ratio Rank: 63
FRGAX Calmar Ratio Rank: 59
FRGAX Martin Ratio Rank: 69

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.

EXHAX vs. FRGAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Manning & Napier Pro-Blend Maximum Term Series (EXHAX) and Fidelity 70% Allocation Fund (FRGAX). 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.

	EXHAX	FRGAX	Difference
Sharpe ratio Return per unit of total volatility	0.26	1.15	-0.89
Sortino ratio Return per unit of downside risk	0.49	1.67	-1.18
Omega ratio Gain probability vs. loss probability	1.06	1.25	-0.18
Calmar ratio Return relative to maximum drawdown	0.19	1.41	-1.22
Martin ratio Return relative to average drawdown	0.80	6.55	-5.75
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EXHAX vs. FRGAX - Sharpe Ratio Comparison

The current EXHAX Sharpe Ratio is 0.26, which is lower than the FRGAX Sharpe Ratio of 1.15. The chart below compares the historical Sharpe Ratios of EXHAX and FRGAX, 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

	EXHAX	FRGAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.26	1.15	-0.89
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.28	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.59	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.40	1.21	-0.81

Correlation

The correlation between EXHAX and FRGAX is 0.93, 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

EXHAX vs. FRGAX - Dividend Comparison

EXHAX's dividend yield for the trailing twelve months is around 11.72%, more than FRGAX's 2.08% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EXHAX Manning & Napier Pro-Blend Maximum Term Series	11.72%	10.62%	6.41%	2.13%	10.95%	6.01%	3.28%	5.21%	10.32%	7.83%	2.08%	1.27%
FRGAX Fidelity 70% Allocation Fund	2.08%	2.00%	2.01%	1.77%	1.71%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

EXHAX vs. FRGAX - Drawdown Comparison

The maximum EXHAX drawdown since its inception was -51.96%, which is greater than FRGAX's maximum drawdown of -11.77%. Use the drawdown chart below to compare losses from any high point for EXHAX and FRGAX.

Drawdown Indicators

	EXHAX	FRGAX	Difference
Max Drawdown Largest peak-to-trough decline	-51.96%	-11.77%	-40.19%
Max Drawdown (1Y) Largest decline over 1 year	-13.33%	-8.53%	-4.80%
Max Drawdown (5Y) Largest decline over 5 years	-27.63%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-29.53%	—	—
Current Drawdown Current decline from peak	-13.06%	-7.03%	-6.03%
Average Drawdown Average peak-to-trough decline	-8.88%	-1.62%	-7.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.22%	1.87%	+1.35%

Volatility

EXHAX vs. FRGAX - Volatility Comparison

Manning & Napier Pro-Blend Maximum Term Series (EXHAX) has a higher volatility of 4.53% compared to Fidelity 70% Allocation Fund (FRGAX) at 3.78%. This indicates that EXHAX's price experiences larger fluctuations and is considered to be riskier than FRGAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EXHAX	FRGAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.53%	3.78%	+0.75%
Volatility (6M) Calculated over the trailing 6-month period	8.98%	6.72%	+2.26%
Volatility (1Y) Calculated over the trailing 1-year period	15.78%	11.92%	+3.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.36%	10.27%	+4.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.22%	10.27%	+4.95%