MCDWX vs. AVIGX

Last updated Apr 1, 2026

Compare and contrast key facts about Manning & Napier Credit Series (MCDWX) and Avantis Core Fixed Income Fund (AVIGX).

MCDWX is managed by Manning & Napier. It was launched on Apr 15, 2020. AVIGX is managed by Avantis Investors. It was launched on Feb 23, 2021.

Performance

MCDWX vs. AVIGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Manning & Napier Credit Series (MCDWX) and Avantis Core Fixed Income Fund (AVIGX). The values are adjusted to include any dividend payments, if applicable.

MCDWX vs. AVIGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
MCDWX Manning & Napier Credit Series	-0.35%	7.57%	4.13%	7.31%	-11.13%	2.13%
AVIGX Avantis Core Fixed Income Fund	-0.93%	8.04%	2.07%	5.13%	-13.62%	0.99%

Returns By Period

In the year-to-date period, MCDWX achieves a -0.35% return, which is significantly higher than AVIGX's -0.93% return.

MCDWX

• 1D: 0.33%
• 1M: -1.84%
• YTD: -0.35%
• 6M: 0.98%
• 1Y: 4.74%
• 3Y*: 5.19%
• 5Y*: 1.76%
• 10Y*: —

AVIGX

• 1D: 0.48%
• 1M: -2.56%
• YTD: -0.93%
• 6M: 0.28%
• 1Y: 4.18%
• 3Y*: 3.62%
• 5Y*: 0.16%
• 10Y*: —

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

MCDWX vs. AVIGX - Expense Ratio Comparison

MCDWX has a 0.10% expense ratio, which is lower than AVIGX's 0.15% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

AVIGX

Avantis Core Fixed Income Fund

MCDWX

Manning & Napier Credit Series

Return for Risk

MCDWX vs. AVIGX — Risk / Return Rank

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

MCDWX

MCDWX Risk / Return Rank: 81
MCDWX Sharpe Ratio Rank: 78
MCDWX Sortino Ratio Rank: 79
MCDWX Omega Ratio Rank: 74
MCDWX Calmar Ratio Rank: 88
MCDWX Martin Ratio Rank: 84

AVIGX

AVIGX Risk / Return Rank: 56
AVIGX Sharpe Ratio Rank: 54
AVIGX Sortino Ratio Rank: 53
AVIGX Omega Ratio Rank: 39
AVIGX Calmar Ratio Rank: 75
AVIGX Martin Ratio Rank: 58

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.

MCDWX vs. AVIGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Manning & Napier Credit Series (MCDWX) and Avantis Core Fixed Income Fund (AVIGX). 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.

	MCDWX	AVIGX	Difference
Sharpe ratio Return per unit of total volatility	1.44	1.04	+0.40
Sortino ratio Return per unit of downside risk	2.03	1.49	+0.54
Omega ratio Gain probability vs. loss probability	1.28	1.18	+0.10
Calmar ratio Return relative to maximum drawdown	2.37	1.76	+0.61
Martin ratio Return relative to average drawdown	8.65	5.61	+3.04
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MCDWX vs. AVIGX - Sharpe Ratio Comparison

The current MCDWX Sharpe Ratio is 1.44, which is higher than the AVIGX Sharpe Ratio of 1.04. The chart below compares the historical Sharpe Ratios of MCDWX and AVIGX, 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

	MCDWX	AVIGX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.44	1.04	+0.40
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.38	0.03	+0.36
Sharpe Ratio (All Time) Calculated using the full available price history	0.57	0.01	+0.56

Correlation

The correlation between MCDWX and AVIGX is 0.91, 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

MCDWX vs. AVIGX - Dividend Comparison

MCDWX's dividend yield for the trailing twelve months is around 4.44%, more than AVIGX's 4.13% yield.

	TTM	2025	2024	2023	2022	2021	2020
MCDWX Manning & Napier Credit Series	4.44%	4.83%	4.41%	4.48%	3.25%	4.45%	2.57%
AVIGX Avantis Core Fixed Income Fund	4.13%	4.45%	4.97%	2.92%	3.01%	0.79%	0.00%

Drawdowns

MCDWX vs. AVIGX - Drawdown Comparison

The maximum MCDWX drawdown since its inception was -15.96%, smaller than the maximum AVIGX drawdown of -19.39%. Use the drawdown chart below to compare losses from any high point for MCDWX and AVIGX.

Drawdown Indicators

	MCDWX	AVIGX	Difference
Max Drawdown Largest peak-to-trough decline	-15.96%	-19.39%	+3.43%
Max Drawdown (1Y) Largest decline over 1 year	-2.20%	-3.03%	+0.83%
Max Drawdown (5Y) Largest decline over 5 years	-15.96%	-19.39%	+3.43%
Current Drawdown Current decline from peak	-1.84%	-2.78%	+0.94%
Average Drawdown Average peak-to-trough decline	-4.24%	-8.56%	+4.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.60%	0.95%	-0.35%

Volatility

MCDWX vs. AVIGX - Volatility Comparison

The current volatility for Manning & Napier Credit Series (MCDWX) is 1.41%, while Avantis Core Fixed Income Fund (AVIGX) has a volatility of 1.73%. This indicates that MCDWX experiences smaller price fluctuations and is considered to be less risky than AVIGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MCDWX	AVIGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.41%	1.73%	-0.32%
Volatility (6M) Calculated over the trailing 6-month period	1.99%	2.72%	-0.73%
Volatility (1Y) Calculated over the trailing 1-year period	3.32%	4.56%	-1.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.62%	6.15%	-1.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.41%	6.13%	-1.72%