VBILX vs. MCDWX
VBILX (Vanguard Intermediate-Term Bond Index Fund Admiral Shares) and MCDWX (Manning & Napier Credit Series) are both Intermediate Core Bond funds. Over the past 5 years, VBILX returned 0.09%/yr vs 1.49%/yr for MCDWX. Their correlation of 0.91 suggests significant overlap in exposure. VBILX charges 0.06%/yr vs 0.10%/yr for MCDWX.
Performance
VBILX vs. MCDWX - Performance Comparison
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Returns By Period
In the year-to-date period, VBILX achieves a -0.53% return, which is significantly lower than MCDWX's 0.56% return.
VBILX
- 1D
- -0.29%
- 1M
- 0.47%
- YTD
- -0.53%
- 6M
- -0.08%
- 1Y
- 3.75%
- 3Y*
- 4.34%
- 5Y*
- 0.09%
- 10Y*
- 1.79%
MCDWX
- 1D
- -0.22%
- 1M
- 0.50%
- YTD
- 0.56%
- 6M
- 0.78%
- 1Y
- 4.54%
- 3Y*
- 5.50%
- 5Y*
- 1.49%
- 10Y*
- —
VBILX vs. MCDWX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
VBILX Vanguard Intermediate-Term Bond Index Fund Admiral Shares | -0.53% | 8.57% | 1.54% | 6.09% | -13.59% | -2.36% | 5.38% |
MCDWX Manning & Napier Credit Series | 0.56% | 7.57% | 4.13% | 7.31% | -11.13% | 0.01% | 8.77% |
Correlation
The correlation between VBILX and MCDWX is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.91 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.92 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.92 |
Correlation (All Time) Calculated using the full available price history since Apr 14, 2020 | 0.91 |
The correlation between VBILX and MCDWX has been stable across timeframes, ranging from 0.91 to 0.92 - a consistent structural relationship.
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Return for Risk
VBILX vs. MCDWX — Risk / Return Rank
VBILX
MCDWX
VBILX vs. MCDWX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Intermediate-Term Bond Index Fund Admiral Shares (VBILX) and Manning & Napier Credit Series (MCDWX). 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.
| VBILX | MCDWX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.71 | ||
| Sortino ratioReturn per unit of downside risk | -0.98 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.33 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 1.19 | 2.26 | -1.07 |
| Martin ratioReturn relative to average drawdown | 3.31 | 7.01 | -3.71 |
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Drawdowns
VBILX vs. MCDWX - Drawdown Comparison
The maximum VBILX drawdown since its inception was -19.26%, which is greater than MCDWX's maximum drawdown of -15.96%. Use the drawdown chart below to compare losses from any high point for VBILX and MCDWX.
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Drawdown Indicators
| VBILX | MCDWX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.26% | -15.96% | -3.30% |
Max Drawdown (1Y)Largest decline over 1 year | -3.43% | -2.17% | -1.26% |
Max Drawdown (3Y)Largest decline over 3 years | -6.05% | -4.22% | -1.83% |
Max Drawdown (5Y)Largest decline over 5 years | -19.15% | -15.96% | -3.19% |
Max Drawdown (10Y)Largest decline over 10 years | -19.26% | — | — |
Current DrawdownCurrent decline from peak | -2.31% | -0.95% | -1.36% |
Average DrawdownAverage peak-to-trough decline | -3.15% | -4.12% | +0.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.23% | 0.70% | +0.53% |
Volatility
VBILX vs. MCDWX - Volatility Comparison
Vanguard Intermediate-Term Bond Index Fund Admiral Shares (VBILX) has a higher volatility of 1.33% compared to Manning & Napier Credit Series (MCDWX) at 0.89%. This indicates that VBILX's price experiences larger fluctuations and is considered to be riskier than MCDWX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VBILX | MCDWX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.33% | 0.89% | +0.44% |
Volatility (6M)Calculated over the trailing 6-month period | 3.12% | 2.25% | +0.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.15% | 2.90% | +1.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.39% | 4.63% | +1.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.37% | 4.37% | +1.00% |
VBILX vs. MCDWX - Expense Ratio Comparison
VBILX has a 0.06% expense ratio, which is lower than MCDWX's 0.10% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
VBILX vs. MCDWX - Dividend Comparison
VBILX's dividend yield for the trailing twelve months is around 4.23%, less than MCDWX's 4.47% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MCDWX Manning & Napier Credit Series | 4.47% | 4.83% | 4.41% | 4.48% | 3.25% | 4.45% | 2.57% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VBILX Vanguard Intermediate-Term Bond Index Fund Admiral Shares | 4.23% | 4.01% | 3.80% | 3.09% | 1.99% | 3.39% | 2.94% | 2.73% | 2.87% | 2.73% | 3.06% | 3.09% |
Frequently Asked Questions
With a correlation of 0.91, VBILX and MCDWX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
VBILX has higher volatility (1.33%) compared to MCDWX (0.89%). In terms of maximum drawdown, VBILX dropped -19.26% vs MCDWX's -15.96%.
MCDWX currently has the higher Sharpe Ratio (1.69 vs 0.98), 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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