MLPIX vs. NCBVX

Last updated Jun 24, 2026

MLPIX (ProFunds Mid Cap Value Fund) and NCBVX (PGIM Quant Solutions Mid-Cap Value Fund) are both Mid Cap Value Equities funds. Over the past 10 years, MLPIX returned 9.09%/yr vs 8.39%/yr for NCBVX. With a 0.95 correlation, they move nearly in lockstep. MLPIX charges 1.78%/yr vs 1.95%/yr for NCBVX.

Performance

MLPIX vs. NCBVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProFunds Mid Cap Value Fund (MLPIX) and PGIM Quant Solutions Mid-Cap Value Fund (NCBVX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MLPIX achieves a 10.16% return, which is significantly lower than NCBVX's 18.14% return. Over the past 10 years, MLPIX has outperformed NCBVX with an annualized return of 9.09%, while NCBVX has yielded a comparatively lower 8.39% annualized return.

MLPIX

• 1D: 0.13%
• 1M: 3.11%
• YTD: 10.16%
• 6M: 8.52%
• 1Y: 19.25%
• 3Y*: 12.40%
• 5Y*: 6.84%
• 10Y*: 9.09%

NCBVX

• 1D: 0.77%
• 1M: 4.08%
• YTD: 18.14%
• 6M: 16.46%
• 1Y: 31.81%
• 3Y*: 17.86%
• 5Y*: 9.14%
• 10Y*: 8.39%

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

MLPIX vs. NCBVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MLPIX ProFunds Mid Cap Value Fund	10.16%	5.48%	9.65%	13.32%	-8.61%	28.23%	1.85%	24.02%	-13.08%	10.45%
NCBVX PGIM Quant Solutions Mid-Cap Value Fund	18.14%	11.86%	10.49%	10.40%	-10.18%	33.13%	-7.31%	18.78%	-20.51%	11.63%

Correlation

The correlation between MLPIX and NCBVX is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (10Y) Calculated over the trailing 10-year period	0.95
Correlation (All Time) Calculated using the full available price history since Aug 31, 2001	0.95

The correlation between MLPIX and NCBVX has been stable across timeframes, ranging from 0.94 to 0.96 - a consistent structural relationship.

Return for Risk

MLPIX vs. NCBVX — Risk / Return Rank

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

MLPIX

MLPIX Risk / Return Rank: 27
MLPIX Sharpe Ratio Rank: 26
MLPIX Sortino Ratio Rank: 28
MLPIX Omega Ratio Rank: 24
MLPIX Calmar Ratio Rank: 29
MLPIX Martin Ratio Rank: 30

NCBVX

NCBVX Risk / Return Rank: 85
NCBVX Sharpe Ratio Rank: 83
NCBVX Sortino Ratio Rank: 81
NCBVX Omega Ratio Rank: 73
NCBVX Calmar Ratio Rank: 94
NCBVX Martin Ratio Rank: 94

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.

MLPIX vs. NCBVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProFunds Mid Cap Value Fund (MLPIX) and PGIM Quant Solutions Mid-Cap Value Fund (NCBVX). 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.

	MLPIX	NCBVX	Difference
Sharpe ratio: Return per unit of total volatility	1.34	2.50	-1.16
Sortino ratio: Return per unit of downside risk	2.04	3.53	-1.50
Omega ratio: Gain probability vs. loss probability	1.24	1.44	-0.20
Calmar ratio: Return relative to maximum drawdown	1.91	5.27	-3.36
Martin ratio: Return relative to average drawdown	6.45	19.01	-12.56

MLPIX vs. NCBVX - Sharpe Ratio Comparison

The current MLPIX Sharpe Ratio is 1.34, which is lower than the NCBVX Sharpe Ratio of 2.50. The chart below compares the historical Sharpe Ratios of MLPIX and NCBVX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

MLPIX vs. NCBVX - Drawdown Comparison

The maximum MLPIX drawdown since its inception was -60.11%, roughly equal to the maximum NCBVX drawdown of -60.64%. Use the drawdown chart below to compare losses from any high point for MLPIX and NCBVX.

Drawdown Indicators

	MLPIX	NCBVX	Difference
Max Drawdown Largest peak-to-trough decline	-60.11%	-60.64%	+0.53%
Max Drawdown (1Y) Largest decline over 1 year	-10.68%	-6.31%	-4.37%
Max Drawdown (3Y) Largest decline over 3 years	-23.24%	-21.27%	-1.97%
Max Drawdown (5Y) Largest decline over 5 years	-23.24%	-23.15%	-0.09%
Max Drawdown (10Y) Largest decline over 10 years	-45.96%	-57.50%	+11.54%
Current Drawdown Current decline from peak	-0.86%	0.00%	-0.86%
Average Drawdown Average peak-to-trough decline	-9.35%	-9.08%	-0.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.16%	1.75%	+1.41%

Volatility

MLPIX vs. NCBVX - Volatility Comparison

ProFunds Mid Cap Value Fund (MLPIX) and PGIM Quant Solutions Mid-Cap Value Fund (NCBVX) have volatilities of 3.87% and 4.00%, 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.

Volatility by Period

	MLPIX	NCBVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.87%	4.00%	-0.13%
Volatility (6M) Calculated over the trailing 6-month period	10.64%	9.82%	+0.82%
Volatility (1Y) Calculated over the trailing 1-year period	15.24%	13.33%	+1.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.44%	18.78%	+0.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.41%	22.68%	-1.27%

MLPIX vs. NCBVX - Expense Ratio Comparison

MLPIX has a 1.78% expense ratio, which is lower than NCBVX's 1.95% expense ratio.

Dividends

MLPIX vs. NCBVX - Dividend Comparison

MLPIX's dividend yield for the trailing twelve months is around 0.43%, less than NCBVX's 0.58% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MLPIX ProFunds Mid Cap Value Fund	0.43%	0.47%	0.00%	0.00%	0.00%	0.89%	0.22%	0.40%	3.92%	10.95%	0.56%	0.00%
NCBVX PGIM Quant Solutions Mid-Cap Value Fund	0.58%	0.68%	1.03%	1.59%	1.17%	0.74%	1.60%	1.93%	13.70%	6.69%	2.83%	7.89%

Frequently Asked Questions

Can I hold both MLPIX and NCBVX in my portfolio?

With a correlation of 0.94, MLPIX and NCBVX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, MLPIX or NCBVX?

NCBVX has higher volatility (4.00%) compared to MLPIX (3.87%). In terms of maximum drawdown, MLPIX dropped -60.11% vs NCBVX's -60.64%.

Which has better risk-adjusted returns?

NCBVX currently has the higher Sharpe Ratio (2.50 vs 1.34), 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.