MNHYX vs. FOCIX
MNHYX (Manning & Napier High Yield Bond Series) and FOCIX (Fairholme Focused Income Fund) are both High Yield Bonds funds. Over the past 10 years, MNHYX returned 6.63%/yr vs 7.09%/yr for FOCIX. At a 0.28 correlation, their price movements are largely independent. MNHYX charges 0.90%/yr vs 1.00%/yr for FOCIX.
Performance
MNHYX vs. FOCIX - Performance Comparison
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Returns By Period
In the year-to-date period, MNHYX achieves a 2.79% return, which is significantly lower than FOCIX's 7.06% return. Over the past 10 years, MNHYX has underperformed FOCIX with an annualized return of 6.63%, while FOCIX has yielded a comparatively higher 7.09% annualized return.
MNHYX
- 1D
- 0.00%
- 1M
- 0.42%
- YTD
- 2.79%
- 6M
- 3.21%
- 1Y
- 7.22%
- 3Y*
- 9.32%
- 5Y*
- 5.47%
- 10Y*
- 6.63%
FOCIX
- 1D
- -0.64%
- 1M
- -0.96%
- YTD
- 7.06%
- 6M
- 6.77%
- 1Y
- 10.86%
- 3Y*
- 11.44%
- 5Y*
- 9.36%
- 10Y*
- 7.09%
MNHYX vs. FOCIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MNHYX Manning & Napier High Yield Bond Series | 2.79% | 6.65% | 9.63% | 13.19% | -7.59% | 9.99% | 6.26% | 13.99% | -1.30% | 8.49% |
FOCIX Fairholme Focused Income Fund | 7.06% | 6.17% | 14.67% | 12.58% | 6.00% | 6.73% | 0.99% | 7.44% | -6.88% | -0.54% |
Correlation
The correlation between MNHYX and FOCIX is 0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.19 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.27 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.25 |
Correlation (All Time) Calculated using the full available price history since Jan 5, 2010 | 0.28 |
Over the past year, the correlation between MNHYX and FOCIX has dropped to 0.02 - well below their long-term average of 0.28, suggesting their price drivers have been diverging.
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Return for Risk
MNHYX vs. FOCIX — Risk / Return Rank
MNHYX
FOCIX
MNHYX vs. FOCIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Manning & Napier High Yield Bond Series (MNHYX) and Fairholme Focused Income Fund (FOCIX). 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 | FOCIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.36 | ||
| Sortino ratioReturn per unit of downside risk | +2.03 | ||
| Omega ratioGain probability vs. loss probability | 1.63 | 1.25 | +0.38 |
| Calmar ratioReturn relative to maximum drawdown | 2.98 | 3.11 | -0.13 |
| Martin ratioReturn relative to average drawdown | 13.31 | 8.63 | +4.68 |
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Drawdowns
MNHYX vs. FOCIX - Drawdown Comparison
The maximum MNHYX drawdown since its inception was -19.70%, roughly equal to the maximum FOCIX drawdown of -18.78%. Use the drawdown chart below to compare losses from any high point for MNHYX and FOCIX.
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Drawdown Indicators
| MNHYX | FOCIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.70% | -18.78% | -0.92% |
Max Drawdown (1Y)Largest decline over 1 year | -2.51% | -3.33% | +0.82% |
Max Drawdown (3Y)Largest decline over 3 years | -4.43% | -7.96% | +3.53% |
Max Drawdown (5Y)Largest decline over 5 years | -10.84% | -12.36% | +1.52% |
Max Drawdown (10Y)Largest decline over 10 years | -19.70% | -18.61% | -1.09% |
Current DrawdownCurrent decline from peak | -0.10% | -2.09% | +1.99% |
Average DrawdownAverage peak-to-trough decline | -1.56% | -4.76% | +3.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.56% | 1.20% | -0.64% |
Volatility
MNHYX vs. FOCIX - Volatility Comparison
The current volatility for Manning & Napier High Yield Bond Series (MNHYX) is 0.73%, while Fairholme Focused Income Fund (FOCIX) has a volatility of 2.83%. This indicates that MNHYX experiences smaller price fluctuations and is considered to be less risky than FOCIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MNHYX | FOCIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.73% | 2.83% | -2.10% |
Volatility (6M)Calculated over the trailing 6-month period | 2.19% | 5.85% | -3.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.75% | 7.56% | -4.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.71% | 9.59% | -5.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.13% | 9.09% | -4.96% |
MNHYX vs. FOCIX - Expense Ratio Comparison
MNHYX has a 0.90% expense ratio, which is lower than FOCIX's 1.00% expense ratio.
Dividends
MNHYX vs. FOCIX - Dividend Comparison
MNHYX's dividend yield for the trailing twelve months is around 6.64%, more than FOCIX's 1.23% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FOCIX Fairholme Focused Income Fund | 1.23% | 1.31% | 2.46% | 2.82% | 2.24% | 1.12% | 0.65% | 2.75% | 4.57% | 9.83% | 5.16% | 5.51% |
MNHYX Manning & Napier High Yield Bond Series | 6.64% | 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 FOCIX have a correlation of 0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FOCIX has higher volatility (2.83%) compared to MNHYX (0.73%). In terms of maximum drawdown, MNHYX dropped -19.70% vs FOCIX's -18.78%.
MNHYX currently has the higher Sharpe Ratio (2.73 vs 1.37), 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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