MNDFX vs. EXDVX
MNDFX (Manning & Napier Disciplined Value Series) and EXDVX (Manning & Napier Divrs Tax Exempt Series Fund) are both mutual funds - MNDFX is a Large Cap Value Equities fund managed by Manning & Napier, while EXDVX is a Municipal Bonds fund managed by Manning & Napier. Over the past 10 years, MNDFX returned 5.24%/yr vs 1.48%/yr for EXDVX. At a correlation of -0.10, they often move in opposite directions. MNDFX charges 0.54%/yr vs 0.63%/yr for EXDVX.
Performance
MNDFX vs. EXDVX - Performance Comparison
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Returns By Period
In the year-to-date period, MNDFX achieves a 11.68% return, which is significantly higher than EXDVX's 0.81% return. Over the past 10 years, MNDFX has outperformed EXDVX with an annualized return of 5.24%, while EXDVX has yielded a comparatively lower 1.48% annualized return.
MNDFX
- 1D
- -0.73%
- 1M
- -0.42%
- YTD
- 11.68%
- 6M
- 10.78%
- 1Y
- 26.97%
- 3Y*
- 14.99%
- 5Y*
- 9.96%
- 10Y*
- 5.24%
EXDVX
- 1D
- 0.10%
- 1M
- 1.09%
- YTD
- 0.81%
- 6M
- 1.00%
- 1Y
- 4.66%
- 3Y*
- 2.86%
- 5Y*
- 0.63%
- 10Y*
- 1.48%
MNDFX vs. EXDVX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MNDFX Manning & Napier Disciplined Value Series | 11.68% | 15.76% | 11.60% | 5.64% | -4.22% | 22.45% | 2.44% | -28.95% | -4.30% | 23.39% |
EXDVX Manning & Napier Divrs Tax Exempt Series Fund | 0.81% | 4.30% | 0.41% | 4.10% | -5.83% | 0.16% | 5.73% | 5.10% | 0.65% | 2.37% |
Correlation
The correlation between MNDFX and EXDVX is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.09 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.06 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.02 |
Correlation (All Time) Calculated using the full available price history since Nov 11, 2008 | -0.10 |
The correlation between MNDFX and EXDVX shifts across timeframes, from -0.10 (all time) to 0.12 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
MNDFX vs. EXDVX — Risk / Return Rank
MNDFX
EXDVX
MNDFX vs. EXDVX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Manning & Napier Disciplined Value Series (MNDFX) and Manning & Napier Divrs Tax Exempt Series Fund (EXDVX). 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.
| MNDFX | EXDVX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.38 | ||
| Sortino ratioReturn per unit of downside risk | -0.38 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.75 | -0.33 |
| Calmar ratioReturn relative to maximum drawdown | 4.09 | 1.92 | +2.17 |
| Martin ratioReturn relative to average drawdown | 14.58 | 6.04 | +8.54 |
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Drawdowns
MNDFX vs. EXDVX - Drawdown Comparison
The maximum MNDFX drawdown since its inception was -62.03%, which is greater than EXDVX's maximum drawdown of -12.74%. Use the drawdown chart below to compare losses from any high point for MNDFX and EXDVX.
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Drawdown Indicators
| MNDFX | EXDVX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -62.03% | -12.74% | -49.29% |
Max Drawdown (1Y)Largest decline over 1 year | -6.70% | -2.44% | -4.26% |
Max Drawdown (3Y)Largest decline over 3 years | -16.04% | -3.75% | -12.29% |
Max Drawdown (5Y)Largest decline over 5 years | -17.87% | -9.29% | -8.58% |
Max Drawdown (10Y)Largest decline over 10 years | -62.03% | -9.29% | -52.74% |
Current DrawdownCurrent decline from peak | -2.55% | -0.78% | -1.77% |
Average DrawdownAverage peak-to-trough decline | -11.98% | -2.18% | -9.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.88% | 0.77% | +1.11% |
Volatility
MNDFX vs. EXDVX - Volatility Comparison
Manning & Napier Disciplined Value Series (MNDFX) has a higher volatility of 3.38% compared to Manning & Napier Divrs Tax Exempt Series Fund (EXDVX) at 0.36%. This indicates that MNDFX's price experiences larger fluctuations and is considered to be riskier than EXDVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MNDFX | EXDVX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.38% | 0.36% | +3.02% |
Volatility (6M)Calculated over the trailing 6-month period | 8.15% | 1.34% | +6.81% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.54% | 1.70% | +9.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.51% | 2.69% | +11.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.68% | 2.97% | +18.71% |
MNDFX vs. EXDVX - Expense Ratio Comparison
MNDFX has a 0.54% expense ratio, which is lower than EXDVX's 0.63% expense ratio.
Dividends
MNDFX vs. EXDVX - Dividend Comparison
MNDFX's dividend yield for the trailing twelve months is around 8.80%, more than EXDVX's 2.24% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EXDVX Manning & Napier Divrs Tax Exempt Series Fund | 2.24% | 2.26% | 1.87% | 1.67% | 0.61% | 6.02% | 1.69% | 2.81% | 1.38% | 1.25% | 1.10% | 0.86% |
MNDFX Manning & Napier Disciplined Value Series | 8.80% | 9.64% | 10.46% | 7.81% | 9.77% | 7.31% | 1.93% | 5.18% | 15.02% | 24.95% | 4.89% | 15.83% |
Frequently Asked Questions
MNDFX and EXDVX have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MNDFX has higher volatility (3.38%) compared to EXDVX (0.36%). In terms of maximum drawdown, MNDFX dropped -62.03% vs EXDVX's -12.74%.
EXDVX currently has the higher Sharpe Ratio (2.75 vs 2.37), 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.
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