MNNAX vs. TANDX
MNNAX (Victory Munder Multi-Cap Fund) and TANDX (Castle Tandem Fund) are both Large Cap Blend Equities funds. Over the past 5 years, MNNAX returned 14.95%/yr vs 2.38%/yr for TANDX. Their 0.68 correlation means they have sometimes moved together and sometimes differently. MNNAX charges 1.28%/yr vs 1.59%/yr for TANDX.
Performance
MNNAX vs. TANDX - Performance Comparison
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Returns By Period
In the year-to-date period, MNNAX achieves a 15.12% return, which is significantly higher than TANDX's -6.24% return.
MNNAX
- 1D
- 0.96%
- 1M
- 1.27%
- 6M
- 12.11%
- YTD
- 15.12%
- 1Y
- 26.17%
- 3Y*
- 22.90%
- 5Y*
- 14.95%
- 10Y*
- 14.55%
- ALL TIME*
- 10.80%
TANDX
- 1D
- 0.86%
- 1M
- 3.68%
- 6M
- -2.95%
- YTD
- -6.24%
- 1Y
- -7.89%
- 3Y*
- 2.58%
- 5Y*
- 2.38%
- 10Y*
- —
- ALL TIME*
- 6.48%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
TANDX Castle Tandem Fund | $0.00 | $0.00 | $0.00 |
MNNAX vs. TANDX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
MNNAX Victory Munder Multi-Cap Fund | 15.12% | 21.78% | 25.59% | 24.59% | -19.03% | 35.03% | 11.18% | 13.66% |
TANDX Castle Tandem Fund | -6.24% | 3.67% | 7.66% | 8.42% | -7.87% | 19.03% | 13.39% | 12.57% |
Correlation
The correlation between MNNAX and TANDX is 0.23, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.23 |
Correlation (3Y) Balances recent behavior with more history. | 0.45 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.61 |
Correlation (All Time) Calculated using the full available price history since Mar 22, 2019 | 0.68 |
Over the past year, the correlation between MNNAX and TANDX has dropped to 0.23 - well below their long-term average of 0.68, suggesting their price drivers have been diverging.
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Return for Risk
MNNAX vs. TANDX — Risk / Return Rank
MNNAX
TANDX
MNNAX vs. TANDX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Victory Munder Multi-Cap Fund (MNNAX) and Castle Tandem Fund (TANDX). 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.
| MNNAX | TANDX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.57 | ||
| Sortino ratioReturn per unit of downside risk | +3.51 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 0.90 | +0.43 |
| Calmar ratioReturn relative to maximum drawdown | 2.95 | -0.41 | +3.36 |
| Martin ratioReturn relative to average drawdown | 13.32 | -0.78 | +14.10 |
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Drawdowns
MNNAX vs. TANDX - Drawdown Comparison
The maximum MNNAX drawdown since its inception was -92.93%, roughly equal to the maximum TANDX drawdown of -93.98%. Use the drawdown chart below to compare losses from any high point for MNNAX and TANDX.
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Drawdown Indicators
| MNNAX | TANDX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -92.93% | -93.98% | +1.05% |
Max Drawdown (1Y)Largest decline over 1 year | -9.72% | -16.88% | +7.16% |
Max Drawdown (3Y)Largest decline over 3 years | -19.06% | -93.98% | +74.92% |
Max Drawdown (5Y)Largest decline over 5 years | -30.29% | -93.98% | +63.69% |
Max Drawdown (10Y)Largest decline over 10 years | -38.01% | — | — |
Current DrawdownCurrent decline from peak | -0.09% | -93.44% | +93.35% |
Average DrawdownAverage peak-to-trough decline | -50.46% | -21.92% | -28.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.14% | 8.84% | -6.70% |
Volatility
MNNAX vs. TANDX - Volatility Comparison
The current volatility for Victory Munder Multi-Cap Fund (MNNAX) is 4.02%, while Castle Tandem Fund (TANDX) has a volatility of 4.33%. This indicates that MNNAX experiences smaller price fluctuations and is considered to be less risky than TANDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MNNAX | TANDX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.02% | 4.33% | -0.31% |
Volatility (6M)Calculated over the trailing 6-month period | 11.78% | 8.78% | +3.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.94% | 10.70% | +4.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.09% | 596.04% | -575.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.31% | 490.88% | -470.57% |
MNNAX vs. TANDX - Expense Ratio Comparison
MNNAX has a 1.28% expense ratio, which is lower than TANDX's 1.59% expense ratio.
Dividends
MNNAX vs. TANDX - Dividend Comparison
MNNAX's dividend yield for the trailing twelve months is around 12.49%, more than TANDX's 6.58% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MNNAX Victory Munder Multi-Cap Fund | 12.49% | 14.38% | 8.72% | 4.65% | 15.37% | 10.88% | 0.07% | 2.76% | 19.25% | 5.28% | 0.00% | 21.54% |
TANDX Castle Tandem Fund | 6.58% | 6.17% | 3.71% | 2.10% | 1.48% | 4.57% | 0.33% | 0.37% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
MNNAX and TANDX have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TANDX has higher volatility (4.33%) compared to MNNAX (4.02%). In terms of maximum drawdown, MNNAX dropped -92.93% vs TANDX's -93.98%.
MNNAX currently has the higher Sharpe Ratio (1.92 vs -0.65), 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.
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