MNDFX vs. SABTX

Last updated Jun 4, 2026

MNDFX (Manning & Napier Disciplined Value Series) and SABTX (SA U.S. Value Fund) are both Large Cap Value Equities funds. Over the past 10 years, MNDFX returned 5.24%/yr vs 11.51%/yr for SABTX. Their correlation of 0.91 suggests significant overlap in exposure. MNDFX charges 0.54%/yr vs 0.73%/yr for SABTX.

Performance

MNDFX vs. SABTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Manning & Napier Disciplined Value Series (MNDFX) and SA U.S. Value Fund (SABTX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MNDFX achieves a 12.15% return, which is significantly lower than SABTX's 17.72% return. Over the past 10 years, MNDFX has underperformed SABTX with an annualized return of 5.24%, while SABTX has yielded a comparatively higher 11.51% annualized return.

MNDFX

• 1D: 0.63%
• 1M: 2.57%
• YTD: 12.15%
• 6M: 13.04%
• 1Y: 28.75%
• 3Y*: 16.19%
• 5Y*: 8.97%
• 10Y*: 5.24%

SABTX

• 1D: 1.12%
• 1M: 6.51%
• YTD: 17.72%
• 6M: 19.56%
• 1Y: 37.10%
• 3Y*: 19.92%
• 5Y*: 10.73%
• 10Y*: 11.51%

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

MNDFX vs. SABTX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MNDFX Manning & Napier Disciplined Value Series	12.15%	15.76%	11.60%	5.64%	-4.22%	22.45%	2.44%	-28.95%	-4.30%	23.39%
SABTX SA U.S. Value Fund	17.72%	17.69%	11.32%	11.82%	-6.35%	27.06%	-2.04%	24.85%	-12.14%	18.45%

Correlation

The correlation between MNDFX and SABTX is 0.78, 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	0.78
Correlation (3Y) Calculated over the trailing 3-year period	0.84
Correlation (5Y) Calculated over the trailing 5-year period	0.89
Correlation (10Y) Calculated over the trailing 10-year period	0.91
Correlation (All Time) Calculated using the full available price history since Nov 12, 2008	0.91

The correlation between MNDFX and SABTX shifts across timeframes, from 0.78 (1 year) to 0.91 (all time), reflecting how their relationship changes across market environments.

Return for Risk

MNDFX vs. SABTX — Risk / Return Rank

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

MNDFX

MNDFX Risk / Return Rank: 82
MNDFX Sharpe Ratio Rank: 82
MNDFX Sortino Ratio Rank: 83
MNDFX Omega Ratio Rank: 72
MNDFX Calmar Ratio Rank: 89
MNDFX Martin Ratio Rank: 84

SABTX

SABTX Risk / Return Rank: 95
SABTX Sharpe Ratio Rank: 97
SABTX Sortino Ratio Rank: 95
SABTX Omega Ratio Rank: 90
SABTX Calmar Ratio Rank: 97
SABTX Martin Ratio Rank: 96

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.

MNDFX vs. SABTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Manning & Napier Disciplined Value Series (MNDFX) and SA U.S. Value Fund (SABTX). 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.

	MNDFX	SABTX	Difference
Sharpe ratio: Return per unit of total volatility	2.65	3.69	-1.04
Sortino ratio: Return per unit of downside risk	3.93	5.19	-1.26
Omega ratio: Gain probability vs. loss probability	1.48	1.65	-0.17
Calmar ratio: Return relative to maximum drawdown	4.48	6.74	-2.26
Martin ratio: Return relative to average drawdown	16.05	24.35	-8.29
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MNDFX vs. SABTX - Sharpe Ratio Comparison

The current MNDFX Sharpe Ratio is 2.65, which is comparable to the SABTX Sharpe Ratio of 3.69. The chart below compares the historical Sharpe Ratios of MNDFX and SABTX, 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

	MNDFX	SABTX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.65	3.69	-1.04
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.62	0.67	-0.05
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.24	0.61	-0.37
Sharpe Ratio (All Time) Calculated using the full available price history	0.42	0.37	+0.05

Drawdowns

MNDFX vs. SABTX - Drawdown Comparison

The maximum MNDFX drawdown since its inception was -62.03%, smaller than the maximum SABTX drawdown of -66.96%. Use the drawdown chart below to compare losses from any high point for MNDFX and SABTX.

Drawdown Indicators

	MNDFX	SABTX	Difference
Max Drawdown Largest peak-to-trough decline	-62.03%	-66.96%	+4.93%
Max Drawdown (1Y) Largest decline over 1 year	-6.70%	-6.36%	-0.34%
Max Drawdown (3Y) Largest decline over 3 years	-16.04%	-16.63%	+0.59%
Max Drawdown (5Y) Largest decline over 5 years	-17.87%	-20.42%	+2.55%
Max Drawdown (10Y) Largest decline over 10 years	-62.03%	-42.00%	-20.03%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-12.01%	-11.32%	-0.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.87%	1.73%	+0.14%

Volatility

MNDFX vs. SABTX - Volatility Comparison

The current volatility for Manning & Napier Disciplined Value Series (MNDFX) is 2.55%, while SA U.S. Value Fund (SABTX) has a volatility of 2.99%. This indicates that MNDFX experiences smaller price fluctuations and is considered to be less risky than SABTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MNDFX	SABTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.55%	2.99%	-0.44%
Volatility (6M) Calculated over the trailing 6-month period	8.17%	8.33%	-0.16%
Volatility (1Y) Calculated over the trailing 1-year period	11.33%	11.63%	-0.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.49%	16.37%	-1.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.67%	19.17%	+2.50%

MNDFX vs. SABTX - Expense Ratio Comparison

MNDFX has a 0.54% expense ratio, which is lower than SABTX's 0.73% expense ratio.

Dividends

MNDFX vs. SABTX - Dividend Comparison

MNDFX's dividend yield for the trailing twelve months is around 8.77%, more than SABTX's 3.29% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MNDFX Manning & Napier Disciplined Value Series	8.77%	9.64%	10.46%	7.81%	9.77%	7.31%	1.93%	5.18%	15.02%	24.95%	4.89%	15.83%
SABTX SA U.S. Value Fund	3.29%	3.88%	2.60%	1.67%	7.66%	4.25%	1.52%	5.14%	9.80%	10.36%	5.08%	6.83%

Frequently Asked Questions

Can I hold both MNDFX and SABTX in my portfolio?

MNDFX and SABTX have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MNDFX or SABTX?

SABTX has higher volatility (2.99%) compared to MNDFX (2.55%). In terms of maximum drawdown, MNDFX dropped -62.03% vs SABTX's -66.96%.

Which has better risk-adjusted returns?

SABTX currently has the higher Sharpe Ratio (3.69 vs 2.65), 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.