MNHAX vs. VRIG
Compare and contrast key facts about Manning & Napier High Yield Bond I (MNHAX) and Invesco Variable Rate Investment Grade ETF (VRIG).
MNHAX is managed by Manning & Napier. It was launched on Aug 1, 2012. VRIG is an actively managed fund by Invesco. It was launched on Sep 20, 2016.
Performance
MNHAX vs. VRIG - Performance Comparison
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MNHAX vs. VRIG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MNHAX Manning & Napier High Yield Bond I | -1.67% | 6.90% | 9.29% | 13.49% | -7.38% | 10.27% | 6.58% | 14.25% | -0.98% | 8.68% |
VRIG Invesco Variable Rate Investment Grade ETF | 0.90% | 5.05% | 6.81% | 7.37% | 0.99% | 1.06% | 1.76% | 4.57% | 0.51% | 3.20% |
Returns By Period
In the year-to-date period, MNHAX achieves a -1.67% return, which is significantly lower than VRIG's 0.90% return.
MNHAX
- 1D
- 0.32%
- 1M
- -2.47%
- YTD
- -1.67%
- 6M
- -0.40%
- 1Y
- 4.27%
- 3Y*
- 8.42%
- 5Y*
- 5.33%
- 10Y*
- 6.73%
VRIG
- 1D
- 0.06%
- 1M
- 0.07%
- YTD
- 0.90%
- 6M
- 2.12%
- 1Y
- 4.82%
- 3Y*
- 6.25%
- 5Y*
- 4.29%
- 10Y*
- —
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MNHAX vs. VRIG - Expense Ratio Comparison
MNHAX has a 0.66% expense ratio, which is higher than VRIG's 0.30% expense ratio.
Return for Risk
MNHAX vs. VRIG — Risk / Return Rank
MNHAX
VRIG
MNHAX vs. VRIG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Manning & Napier High Yield Bond I (MNHAX) and Invesco Variable Rate Investment Grade ETF (VRIG). 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.
| MNHAX | VRIG | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.09 | 5.20 | -4.11 |
Sortino ratioReturn per unit of downside risk | 1.40 | 6.80 | -5.40 |
Omega ratioGain probability vs. loss probability | 1.24 | 3.21 | -1.96 |
Calmar ratioReturn relative to maximum drawdown | 1.10 | 6.26 | -5.16 |
Martin ratioReturn relative to average drawdown | 4.36 | 52.80 | -48.44 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| MNHAX | VRIG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.09 | 5.20 | -4.11 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.37 | 3.34 | -2.97 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.63 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.65 | 0.89 | -0.24 |
Correlation
The correlation between MNHAX and VRIG is 0.09, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
MNHAX vs. VRIG - Dividend Comparison
MNHAX's dividend yield for the trailing twelve months is around 6.64%, more than VRIG's 4.89% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MNHAX Manning & Napier High Yield Bond I | 6.64% | 7.29% | 7.02% | 8.59% | 7.61% | 9.81% | 6.26% | 8.24% | 6.38% | 6.20% | 7.68% | 6.64% |
VRIG Invesco Variable Rate Investment Grade ETF | 4.89% | 4.99% | 6.09% | 5.97% | 2.39% | 0.78% | 1.57% | 3.12% | 2.89% | 2.31% | 0.60% | 0.00% |
Drawdowns
MNHAX vs. VRIG - Drawdown Comparison
The maximum MNHAX drawdown since its inception was -20.13%, which is greater than VRIG's maximum drawdown of -13.04%. Use the drawdown chart below to compare losses from any high point for MNHAX and VRIG.
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Drawdown Indicators
| MNHAX | VRIG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.13% | -13.04% | -7.09% |
Max Drawdown (1Y)Largest decline over 1 year | -3.40% | -0.78% | -2.62% |
Max Drawdown (5Y)Largest decline over 5 years | -20.13% | -2.28% | -17.85% |
Max Drawdown (10Y)Largest decline over 10 years | -20.13% | — | — |
Current DrawdownCurrent decline from peak | -14.06% | -0.02% | -14.04% |
Average DrawdownAverage peak-to-trough decline | -3.41% | -0.27% | -3.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.86% | 0.09% | +0.77% |
Volatility
MNHAX vs. VRIG - Volatility Comparison
Manning & Napier High Yield Bond I (MNHAX) has a higher volatility of 1.68% compared to Invesco Variable Rate Investment Grade ETF (VRIG) at 0.18%. This indicates that MNHAX's price experiences larger fluctuations and is considered to be riskier than VRIG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MNHAX | VRIG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.68% | 0.18% | +1.50% |
Volatility (6M)Calculated over the trailing 6-month period | 2.20% | 0.37% | +1.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.74% | 0.93% | +2.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.41% | 1.29% | +13.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.69% | 3.83% | +6.86% |