MNHYX vs. ANGL
MNHYX (Manning & Napier High Yield Bond Series) and ANGL (VanEck Fallen Angel High Yield Bond ETF) are both High Yield Bonds funds. Over the past 10 years, MNHYX returned 6.29%/yr vs 5.85%/yr for ANGL. Their 0.47 correlation means their historical movements had little consistent relationship. MNHYX charges 0.90%/yr vs 0.25%/yr for ANGL.
Performance
MNHYX vs. ANGL - Performance Comparison
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Returns By Period
In the year-to-date period, MNHYX achieves a 2.82% return, which is significantly higher than ANGL's 1.76% return. Over the past 10 years, MNHYX has outperformed ANGL with an annualized return of 6.29%, while ANGL has yielded a comparatively lower 5.85% annualized return.
MNHYX
- 1D
- 0.21%
- 1M
- -0.05%
- 6M
- 2.20%
- YTD
- 2.82%
- 1Y
- 6.40%
- 3Y*
- 8.59%
- 5Y*
- 5.34%
- 10Y*
- 6.29%
- ALL TIME*
- 6.88%
ANGL
- 1D
- -0.03%
- 1M
- -0.82%
- 6M
- 0.99%
- YTD
- 1.76%
- 1Y
- 5.94%
- 3Y*
- 7.84%
- 5Y*
- 2.87%
- 10Y*
- 5.85%
- ALL TIME*
- 6.76%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $23.07M | $20.69M | $19.68M | |
| $0.00 | $0.00 | $0.00 |
MNHYX vs. ANGL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MNHYX Manning & Napier High Yield Bond Series | 2.82% | 6.65% | 9.63% | 13.19% | -7.59% | 9.99% | 6.26% | 13.99% | -1.30% | 8.49% |
ANGL VanEck Fallen Angel High Yield Bond ETF | 1.76% | 9.04% | 6.06% | 12.52% | -14.26% | 6.84% | 13.20% | 18.06% | -5.84% | 9.71% |
Correlation
The correlation between MNHYX and ANGL is 0.67, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.67 |
Correlation (3Y) Balances recent behavior with more history. | 0.62 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.58 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.53 |
Correlation (All Time) Calculated using the full available price history since Apr 11, 2012 | 0.47 |
Over the past year, MNHYX and ANGL have become more correlated (0.67) than their long-term average of 0.47, meaning their price movements have been converging.
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Return for Risk
MNHYX vs. ANGL — Risk / Return Rank
MNHYX
ANGL
MNHYX vs. ANGL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Manning & Napier High Yield Bond Series (MNHYX) and VanEck Fallen Angel High Yield Bond ETF (ANGL). 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.
| MNHYX | ANGL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.90 | ||
| Sortino ratioReturn per unit of downside risk | +1.41 | ||
| Omega ratioGain probability vs. loss probability | 1.50 | 1.26 | +0.24 |
| Calmar ratioReturn relative to maximum drawdown | 2.47 | 1.44 | +1.03 |
| Martin ratioReturn relative to average drawdown | 10.98 | 5.94 | +5.03 |
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Drawdowns
MNHYX vs. ANGL - Drawdown Comparison
The maximum MNHYX drawdown since its inception was -19.70%, smaller than the maximum ANGL drawdown of -29.31%. Use the drawdown chart below to compare losses from any high point for MNHYX and ANGL.
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Drawdown Indicators
| MNHYX | ANGL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.70% | -29.31% | +9.61% |
Max Drawdown (1Y)Largest decline over 1 year | -2.51% | -4.05% | +1.54% |
Max Drawdown (3Y)Largest decline over 3 years | -4.43% | -5.48% | +1.05% |
Max Drawdown (5Y)Largest decline over 5 years | -10.84% | -19.25% | +8.41% |
Max Drawdown (10Y)Largest decline over 10 years | -19.70% | -29.31% | +9.61% |
Current DrawdownCurrent decline from peak | -0.35% | -0.89% | +0.54% |
Average DrawdownAverage peak-to-trough decline | -1.55% | -3.27% | +1.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.56% | 0.98% | -0.42% |
Volatility
MNHYX vs. ANGL - Volatility Comparison
The current volatility for Manning & Napier High Yield Bond Series (MNHYX) is 0.73%, while VanEck Fallen Angel High Yield Bond ETF (ANGL) has a volatility of 0.91%. This indicates that MNHYX experiences smaller price fluctuations and is considered to be less risky than ANGL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MNHYX | ANGL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.73% | 0.91% | -0.18% |
Volatility (6M)Calculated over the trailing 6-month period | 2.28% | 3.61% | -1.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.76% | 4.34% | -1.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.71% | 7.63% | -3.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.11% | 9.23% | -5.12% |
MNHYX vs. ANGL - Expense Ratio Comparison
MNHYX has a 0.90% expense ratio, which is higher than ANGL's 0.25% expense ratio.
Dividends
MNHYX vs. ANGL - Dividend Comparison
MNHYX's dividend yield for the trailing twelve months is around 6.67%, more than ANGL's 6.49% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ANGL VanEck Fallen Angel High Yield Bond ETF | 5.95% | 6.20% | 6.29% | 5.27% | 4.72% | 3.90% | 4.67% | 5.19% | 5.99% | 5.25% | 5.34% | 5.81% |
MNHYX Manning & Napier High Yield Bond Series | 6.67% | 6.95% | 6.38% | 6.66% | 5.93% | 7.93% | 4.98% | 6.63% | 5.26% | 5.16% | 6.49% | 5.60% |
Frequently Asked Questions
MNHYX and ANGL have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ANGL has higher volatility (0.91%) compared to MNHYX (0.73%). In terms of maximum drawdown, MNHYX dropped -19.70% vs ANGL's -29.31%.
MNHYX currently has the higher Sharpe Ratio (2.25 vs 1.35), 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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