MVIAX vs. NEIMX

Last updated Jun 26, 2026

MVIAX (Praxis Value Index Fund) and NEIMX (Neiman Large Cap Value Fund) are both Large Cap Value Equities funds. Over the past 10 years, MVIAX returned 12.70%/yr vs 10.25%/yr for NEIMX. Their correlation of 0.87 suggests significant overlap in exposure. MVIAX charges 0.78%/yr vs 1.46%/yr for NEIMX.

Performance

MVIAX vs. NEIMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Praxis Value Index Fund (MVIAX) and Neiman Large Cap Value Fund (NEIMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with MVIAX having a 14.83% return and NEIMX slightly higher at 14.94%. Over the past 10 years, MVIAX has outperformed NEIMX with an annualized return of 12.70%, while NEIMX has yielded a comparatively lower 10.25% annualized return.

MVIAX

• 1D: 0.18%
• 1M: 2.97%
• YTD: 14.83%
• 6M: 13.72%
• 1Y: 25.37%
• 3Y*: 16.52%
• 5Y*: 11.16%
• 10Y*: 12.70%

NEIMX

• 1D: -0.40%
• 1M: -1.62%
• YTD: 14.94%
• 6M: 13.64%
• 1Y: 29.63%
• 3Y*: 18.73%
• 5Y*: 11.40%
• 10Y*: 10.25%

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

MVIAX vs. NEIMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MVIAX Praxis Value Index Fund	14.83%	12.97%	10.24%	20.04%	-7.89%	24.54%	3.56%	34.46%	-8.53%	16.32%
NEIMX Neiman Large Cap Value Fund	14.94%	18.68%	13.50%	6.15%	-5.16%	23.85%	-5.97%	23.49%	-9.76%	19.00%

Correlation

The correlation between MVIAX and NEIMX is 0.78, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.78
Correlation (3Y) Calculated over the trailing 3-year period	0.80
Correlation (5Y) Calculated over the trailing 5-year period	0.87
Correlation (10Y) Calculated over the trailing 10-year period	0.89
Correlation (All Time) Calculated using the full available price history since Mar 31, 2003	0.87

The correlation between MVIAX and NEIMX shifts across timeframes, from 0.78 (1 year) to 0.89 (10 years), reflecting how their relationship changes across market environments.

Return for Risk

MVIAX vs. NEIMX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

MVIAX

MVIAX Risk / Return Rank: 87
MVIAX Sharpe Ratio Rank: 87
MVIAX Sortino Ratio Rank: 85
MVIAX Omega Ratio Rank: 80
MVIAX Calmar Ratio Rank: 90
MVIAX Martin Ratio Rank: 90

NEIMX

NEIMX Risk / Return Rank: 92
NEIMX Sharpe Ratio Rank: 93
NEIMX Sortino Ratio Rank: 88
NEIMX Omega Ratio Rank: 85
NEIMX Calmar Ratio Rank: 95
NEIMX Martin Ratio Rank: 96

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.

MVIAX vs. NEIMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Praxis Value Index Fund (MVIAX) and Neiman Large Cap Value Fund (NEIMX). 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.

	MVIAX	NEIMX	Difference
Sharpe ratio: Return per unit of total volatility	2.43	2.71	-0.29
Sortino ratio: Return per unit of downside risk	3.48	3.71	-0.24
Omega ratio: Gain probability vs. loss probability	1.43	1.50	-0.06
Calmar ratio: Return relative to maximum drawdown	3.95	5.11	-1.16
Martin ratio: Return relative to average drawdown	15.04	20.50	-5.47

MVIAX vs. NEIMX - Sharpe Ratio Comparison

The current MVIAX Sharpe Ratio is 2.43, which is comparable to the NEIMX Sharpe Ratio of 2.71. The chart below compares the historical Sharpe Ratios of MVIAX and NEIMX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

MVIAX vs. NEIMX - Drawdown Comparison

The maximum MVIAX drawdown since its inception was -65.34%, smaller than the maximum NEIMX drawdown of -92.94%. Use the drawdown chart below to compare losses from any high point for MVIAX and NEIMX.

Drawdown Indicators

	MVIAX	NEIMX	Difference
Max Drawdown Largest peak-to-trough decline	-65.34%	-92.94%	+27.60%
Max Drawdown (1Y) Largest decline over 1 year	-6.29%	-5.75%	-0.54%
Max Drawdown (3Y) Largest decline over 3 years	-15.25%	-92.94%	+77.69%
Max Drawdown (5Y) Largest decline over 5 years	-18.89%	-92.94%	+74.05%
Max Drawdown (10Y) Largest decline over 10 years	-36.03%	-92.94%	+56.91%
Current Drawdown Current decline from peak	-0.31%	-89.21%	+88.90%
Average Drawdown Average peak-to-trough decline	-12.08%	-10.71%	-1.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.65%	1.43%	+0.22%

Volatility

MVIAX vs. NEIMX - Volatility Comparison

The current volatility for Praxis Value Index Fund (MVIAX) is 3.30%, while Neiman Large Cap Value Fund (NEIMX) has a volatility of 4.45%. This indicates that MVIAX experiences smaller price fluctuations and is considered to be less risky than NEIMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MVIAX	NEIMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.30%	4.45%	-1.15%
Volatility (6M) Calculated over the trailing 6-month period	7.79%	8.52%	-0.73%
Volatility (1Y) Calculated over the trailing 1-year period	10.27%	10.83%	-0.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.23%	576.53%	-562.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.78%	407.70%	-390.92%

MVIAX vs. NEIMX - Expense Ratio Comparison

MVIAX has a 0.78% expense ratio, which is lower than NEIMX's 1.46% expense ratio.

Dividends

MVIAX vs. NEIMX - Dividend Comparison

MVIAX's dividend yield for the trailing twelve months is around 0.92%, less than NEIMX's 0.97% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MVIAX Praxis Value Index Fund	0.92%	1.06%	9.59%	4.63%	5.11%	3.63%	8.55%	4.84%	7.28%	6.40%	2.63%	5.10%
NEIMX Neiman Large Cap Value Fund	0.97%	0.76%	1.10%	1.36%	3.60%	17.65%	1.20%	2.26%	1.20%	6.64%	10.20%	4.19%

Frequently Asked Questions

Can I hold both MVIAX and NEIMX in my portfolio?

MVIAX and NEIMX have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MVIAX or NEIMX?

NEIMX has higher volatility (4.45%) compared to MVIAX (3.30%). In terms of maximum drawdown, MVIAX dropped -65.34% vs NEIMX's -92.94%.

Which has better risk-adjusted returns?

NEIMX currently has the higher Sharpe Ratio (2.71 vs 2.43), 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.