MNDFX vs. SMVLX

Last updated Jun 4, 2026

MNDFX (Manning & Napier Disciplined Value Series) and SMVLX (Smead Value Fund) are both Large Cap Value Equities funds. Over the past 10 years, MNDFX returned 5.24%/yr vs 12.13%/yr for SMVLX. Their correlation of 0.88 suggests significant overlap in exposure. MNDFX charges 0.54%/yr vs 1.26%/yr for SMVLX.

Performance

MNDFX vs. SMVLX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Manning & Napier Disciplined Value Series (MNDFX) and Smead Value Fund (SMVLX). 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 SMVLX's 13.63% return. Over the past 10 years, MNDFX has underperformed SMVLX with an annualized return of 5.24%, while SMVLX has yielded a comparatively higher 12.13% 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%

SMVLX

• 1D: 0.61%
• 1M: 0.39%
• YTD: 13.63%
• 6M: 11.21%
• 1Y: 28.87%
• 3Y*: 13.91%
• 5Y*: 9.52%
• 10Y*: 12.13%

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

MNDFX vs. SMVLX - 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%
SMVLX Smead Value Fund	13.63%	5.05%	4.78%	16.87%	-2.79%	42.46%	1.71%	26.29%	-4.79%	19.73%

Correlation

The correlation between MNDFX and SMVLX is 0.86, 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	0.86
Correlation (3Y) Calculated over the trailing 3-year period	0.87
Correlation (5Y) Calculated over the trailing 5-year period	0.87
Correlation (10Y) Calculated over the trailing 10-year period	0.87
Correlation (All Time) Calculated using the full available price history since Jan 5, 2009	0.88

The correlation between MNDFX and SMVLX has been stable across timeframes, ranging from 0.86 to 0.88 - a consistent structural relationship.

Return for Risk

MNDFX vs. SMVLX — 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

SMVLX

SMVLX Risk / Return Rank: 67
SMVLX Sharpe Ratio Rank: 54
SMVLX Sortino Ratio Rank: 57
SMVLX Omega Ratio Rank: 50
SMVLX Calmar Ratio Rank: 93
SMVLX Martin Ratio Rank: 81

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. SMVLX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Manning & Napier Disciplined Value Series (MNDFX) and Smead Value Fund (SMVLX). 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	SMVLX	Difference
Sharpe ratio: Return per unit of total volatility	2.65	2.17	+0.48
Sortino ratio: Return per unit of downside risk	3.93	3.17	+0.75
Omega ratio: Gain probability vs. loss probability	1.48	1.38	+0.09
Calmar ratio: Return relative to maximum drawdown	4.48	5.20	-0.73
Martin ratio: Return relative to average drawdown	16.05	15.13	+0.92
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. SMVLX - Sharpe Ratio Comparison

The current MNDFX Sharpe Ratio is 2.65, which is comparable to the SMVLX Sharpe Ratio of 2.17. The chart below compares the historical Sharpe Ratios of MNDFX and SMVLX, 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	SMVLX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.65	2.17	+0.48
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.62	0.52	+0.10
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.24	0.63	-0.38
Sharpe Ratio (All Time) Calculated using the full available price history	0.42	0.70	-0.28

Drawdowns

MNDFX vs. SMVLX - Drawdown Comparison

The maximum MNDFX drawdown since its inception was -62.03%, which is greater than SMVLX's maximum drawdown of -39.56%. Use the drawdown chart below to compare losses from any high point for MNDFX and SMVLX.

Drawdown Indicators

	MNDFX	SMVLX	Difference
Max Drawdown Largest peak-to-trough decline	-62.03%	-39.56%	-22.47%
Max Drawdown (1Y) Largest decline over 1 year	-6.70%	-5.90%	-0.80%
Max Drawdown (3Y) Largest decline over 3 years	-16.04%	-24.62%	+8.58%
Max Drawdown (5Y) Largest decline over 5 years	-17.87%	-24.62%	+6.75%
Max Drawdown (10Y) Largest decline over 10 years	-62.03%	-39.56%	-22.47%
Current Drawdown Current decline from peak	0.00%	-0.64%	+0.64%
Average Drawdown Average peak-to-trough decline	-12.01%	-4.59%	-7.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.87%	2.03%	-0.16%

Volatility

MNDFX vs. SMVLX - Volatility Comparison

The current volatility for Manning & Napier Disciplined Value Series (MNDFX) is 2.55%, while Smead Value Fund (SMVLX) has a volatility of 2.85%. This indicates that MNDFX experiences smaller price fluctuations and is considered to be less risky than SMVLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MNDFX	SMVLX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.55%	2.85%	-0.30%
Volatility (6M) Calculated over the trailing 6-month period	8.17%	8.94%	-0.77%
Volatility (1Y) Calculated over the trailing 1-year period	11.33%	14.15%	-2.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.49%	18.36%	-3.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.67%	19.47%	+2.20%

MNDFX vs. SMVLX - Expense Ratio Comparison

MNDFX has a 0.54% expense ratio, which is lower than SMVLX's 1.26% expense ratio.

Dividends

MNDFX vs. SMVLX - Dividend Comparison

MNDFX's dividend yield for the trailing twelve months is around 8.77%, more than SMVLX's 1.47% 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%
SMVLX Smead Value Fund	1.47%	1.67%	1.08%	1.34%	1.78%	3.91%	1.40%	3.83%	7.47%	0.22%	3.14%	3.10%

Frequently Asked Questions

Can I hold both MNDFX and SMVLX in my portfolio?

MNDFX and SMVLX have a correlation of 0.86, 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 SMVLX?

SMVLX has higher volatility (2.85%) compared to MNDFX (2.55%). In terms of maximum drawdown, MNDFX dropped -62.03% vs SMVLX's -39.56%.

Which has better risk-adjusted returns?

MNDFX currently has the higher Sharpe Ratio (2.65 vs 2.17), 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.