MCONX vs. MIIAX

Last updated Jun 3, 2026

MCONX (Praxis Genesis Conservative Portfolio) and MIIAX (Praxis Impact Bond Fund) are both mutual funds - MCONX is a Diversified Portfolio fund managed by Praxis Mutual Funds, while MIIAX is a Intermediate Core Bond fund managed by Praxis Mutual Funds. Over the past 10 years, MCONX returned 4.25%/yr vs 1.29%/yr for MIIAX. At a 0.35 correlation, their price movements are largely independent. MCONX charges 0.58%/yr vs 0.88%/yr for MIIAX.

Performance

MCONX vs. MIIAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Praxis Genesis Conservative Portfolio (MCONX) and Praxis Impact Bond Fund (MIIAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MCONX achieves a 3.14% return, which is significantly higher than MIIAX's 0.22% return. Over the past 10 years, MCONX has outperformed MIIAX with an annualized return of 4.25%, while MIIAX has yielded a comparatively lower 1.29% annualized return.

MCONX

• 1D: 0.00%
• 1M: 1.39%
• YTD: 3.14%
• 6M: 3.43%
• 1Y: 10.81%
• 3Y*: 7.83%
• 5Y*: 2.11%
• 10Y*: 4.25%

MIIAX

• 1D: -0.11%
• 1M: -0.02%
• YTD: 0.22%
• 6M: 0.21%
• 1Y: 5.08%
• 3Y*: 3.69%
• 5Y*: -0.19%
• 10Y*: 1.29%

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

MCONX vs. MIIAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MCONX Praxis Genesis Conservative Portfolio	3.14%	10.15%	5.16%	9.51%	-14.59%	1.66%	10.28%	13.67%	-2.64%	8.36%
MIIAX Praxis Impact Bond Fund	0.22%	6.82%	1.17%	5.32%	-13.09%	-2.22%	7.45%	7.75%	-0.36%	3.11%

Correlation

The correlation between MCONX and MIIAX is 0.74, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.74
Correlation (3Y) Calculated over the trailing 3-year period	0.74
Correlation (5Y) Calculated over the trailing 5-year period	0.69
Correlation (10Y) Calculated over the trailing 10-year period	0.50
Correlation (All Time) Calculated using the full available price history since Jan 4, 2010	0.35

Over the past year, MCONX and MIIAX have become more correlated (0.74) than their long-term average of 0.35, meaning their price movements have been converging.

Return for Risk

MCONX vs. MIIAX — Risk / Return Rank

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

MCONX

MCONX Risk / Return Rank: 51
MCONX Sharpe Ratio Rank: 53
MCONX Sortino Ratio Rank: 55
MCONX Omega Ratio Rank: 57
MCONX Calmar Ratio Rank: 41
MCONX Martin Ratio Rank: 48

MIIAX

MIIAX Risk / Return Rank: 19
MIIAX Sharpe Ratio Rank: 19
MIIAX Sortino Ratio Rank: 18
MIIAX Omega Ratio Rank: 18
MIIAX Calmar Ratio Rank: 20
MIIAX Martin Ratio Rank: 18

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.

MCONX vs. MIIAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Praxis Genesis Conservative Portfolio (MCONX) and Praxis Impact Bond Fund (MIIAX). 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.

	MCONX	MIIAX	Difference
Sharpe ratio Return per unit of total volatility	2.15	1.25	+0.90
Sortino ratio Return per unit of downside risk	3.14	1.82	+1.33
Omega ratio Gain probability vs. loss probability	1.42	1.22	+0.19
Calmar ratio Return relative to maximum drawdown	2.45	1.64	+0.80
Martin ratio Return relative to average drawdown	10.03	5.12	+4.91
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MCONX vs. MIIAX - Sharpe Ratio Comparison

The current MCONX Sharpe Ratio is 2.15, which is higher than the MIIAX Sharpe Ratio of 1.25. The chart below compares the historical Sharpe Ratios of MCONX and MIIAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	MCONX	MIIAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.15	1.25	+0.90
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.31	-0.03	+0.34
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.69	0.27	+0.41
Sharpe Ratio (All Time) Calculated using the full available price history	0.83	0.80	+0.03

Drawdowns

MCONX vs. MIIAX - Drawdown Comparison

The maximum MCONX drawdown since its inception was -21.51%, which is greater than MIIAX's maximum drawdown of -18.76%. Use the drawdown chart below to compare losses from any high point for MCONX and MIIAX.

Drawdown Indicators

	MCONX	MIIAX	Difference
Max Drawdown Largest peak-to-trough decline	-21.51%	-18.76%	-2.75%
Max Drawdown (1Y) Largest decline over 1 year	-4.45%	-3.06%	-1.39%
Max Drawdown (3Y) Largest decline over 3 years	-7.12%	-6.20%	-0.92%
Max Drawdown (5Y) Largest decline over 5 years	-21.51%	-18.22%	-3.29%
Max Drawdown (10Y) Largest decline over 10 years	-21.51%	-18.76%	-2.75%
Current Drawdown Current decline from peak	0.00%	-3.34%	+3.34%
Average Drawdown Average peak-to-trough decline	-2.98%	-2.53%	-0.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.09%	0.98%	+0.11%

Volatility

MCONX vs. MIIAX - Volatility Comparison

Praxis Genesis Conservative Portfolio (MCONX) has a higher volatility of 1.81% compared to Praxis Impact Bond Fund (MIIAX) at 1.32%. This indicates that MCONX's price experiences larger fluctuations and is considered to be riskier than MIIAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MCONX	MIIAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.81%	1.32%	+0.49%
Volatility (6M) Calculated over the trailing 6-month period	4.06%	2.77%	+1.29%
Volatility (1Y) Calculated over the trailing 1-year period	5.05%	3.83%	+1.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.86%	5.83%	+1.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.19%	4.73%	+1.46%

MCONX vs. MIIAX - Expense Ratio Comparison

MCONX has a 0.58% expense ratio, which is lower than MIIAX's 0.88% expense ratio.

Dividends

MCONX vs. MIIAX - Dividend Comparison

MCONX's dividend yield for the trailing twelve months is around 4.72%, more than MIIAX's 3.39% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MCONX Praxis Genesis Conservative Portfolio	4.72%	4.76%	4.90%	1.85%	2.31%	1.66%	3.49%	2.61%	3.84%	3.06%	2.25%	2.56%
MIIAX Praxis Impact Bond Fund	3.39%	3.28%	3.12%	2.35%	2.02%	1.50%	2.42%	2.15%	2.27%	2.19%	2.35%	2.55%

Frequently Asked Questions

Can I hold both MCONX and MIIAX in my portfolio?

MCONX and MIIAX have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MCONX or MIIAX?

MCONX has higher volatility (1.81%) compared to MIIAX (1.32%). In terms of maximum drawdown, MCONX dropped -21.51% vs MIIAX's -18.76%.

Which has better risk-adjusted returns?

MCONX currently has the higher Sharpe Ratio (2.15 vs 1.25), 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.