Fund Evaluator:
Manning & Napier Pro-Blend Cnsrv Term S (EXDAX)
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Best Performing in Conservative Allocation Over the Last Year
| 11.9% | Hussman Strategic Total Return (HSTRX) |
| 10.4% | Franklin Multi-Asset Income Y (PMIYX) |
| 10.1% | Columbia Income Builder Inst (CBUZX) |
| 8.2% | Thrivent Conservative Allocation S (THYFX) |
| 8.0% | Columbia Capital Allocation Cnsrv Inst (CBVZX) |
Fund Details
Manning & Napier Pro-Blend Cnsrv Term S Overview
Manning & Napier Pro-Blend Cnsrv Term S (EXDAX) is an actively managed Allocation Conservative Allocation fund. Manning & Napier launched the fund in 1995.
The investment seeks to provide preservation of capital, and its secondary objectives are to provide income and long-term growth of capital. The fund invests primarily in fixed income securities, including U.S. Treasury securities and U.S. and foreign mortgage-backed and asset-backed securities and corporate bonds. It invests primarily in fixed income securities with short- to intermediate-term maturities of 3 to 5 years but may also invest in longer term securities.
About Manning & Napier Pro-Blend Cnsrv Term S (EXDAX)
There are 6 members of the management team with an average tenure of 3.70 years: Jay Welles (2023), Marc Bushallow (2015), Jacob Boak (2025), Elizabeth Mallette (2023), John Mitchell (2024), James Slentz (2025). Management tenure is more important for actively managed funds than passive index funds.
The fund has 4 primary benchmarks: Bloomberg US Agg Bond TR USD index with a weighting of 100%, MSCI USA IMI NR USD index with a weighting of 15%, MSCI ACWI Ex USA NR USD index with a weighting of 5% and Bloomberg US Agg Interm TR USD index with a weighting of 80%. Manning & Napier Pro-Blend Cnsrv Term S has 231 securities in its portfolio. The top 10 holdings constitute 29.0% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Manning & Napier Pro-Blend Cnsrv Term S is part of the Allocation global asset class and is within the Allocation fund group. Manning & Napier Pro-Blend Cnsrv Term S has 10.6% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 16.6%. There is 5.8% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 75.6% (70.8% domestic bond, 4.8% foreign bond and 0.0% convertible bond). Manning & Napier Pro-Blend Cnsrv Term S has 2.1% of the portfolio in cash.
Assets Under Management
The fund has $141 million in total assets, which is above the $107 million average for the Conservative Allocation category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
EXDAX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Manning & Napier Pro-Blend Cnsrv Term S expense ratio is high compared to funds in the Conservative Allocation category. Manning & Napier Pro-Blend Cnsrv Term S has an expense ratio of 0.90%, which is 24% lower than its category average, making the fund expense ratio grade a C. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Manning & Napier Pro-Blend Cnsrv Term S has a portfolio turnover rate of 48%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 100% for the Conservative Allocation category.
Recently, in the month of July 2026, Manning & Napier Pro-Blend Cnsrv Term S returned -0.6%, which earned it a grade of B, as the Conservative Allocation category had an average return of -0.8%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
Manning & Napier Pro-Blend Cnsrv Term S has a trailing yield of 4.60%, which is above the 3.43% category average. The fund normally distributes its income semi-annually and its capital gains semi-annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Manning & Napier Pro-Blend Cnsrv Term S Grades
Year to date, the fund has returned 0.8%, 2.0 percentage points worse than the category, which translates into a grade of F. The fund has returned 4.3% over the past year (grade of F), 5.5% over the past three years (grade of F) and 1.9% per year over the past five years (grade of F) and 4.2% per year over the past 10 years (grade of C).
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EXDAX Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| EXDAX Return (NAV) | -0.6% | 0.7% | 4.3% | 5.5% | 1.9% | 4.2% |
| EXDAX Grade | B | C | F | F | F | C |
| +/- Category | 0.2% | 0.1% | -2.9% | -1.7% | -0.8% | 0.3% |
| Conservative Allocation Avg | -0.8% | 0.6% | 7.2% | 7.2% | 2.7% | 3.9% |
| EXDAX Tax Cost Ratio | na | na | 1.8% | 1.4% | 1.4% | 1.5% |
EXDAX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| EXDAX Return (NAV) | 0.8% | 7.9% | 4.3% | 8.5% | -11.1% | 5.4% | 10.5% | 13.0% | -2.2% | 8.9% | 4.3% |
| EXDAX Grade | F | D | F | D | B | C | B | B | B | B | D |
| +/- Category | -2.0% | -1.4% | -1.7% | -0.2% | 0.8% | 0.9% | 2.5% | 1.4% | 1.0% | 1.8% | -1.6% |
| Conservative Allocation Avg | 2.8% | 9.2% | 5.9% | 8.7% | -11.9% | 4.5% | 8.0% | 11.5% | -3.3% | 7.1% | 5.9% |
| Risk Measures | |
| Standard Deviation: | 5.2% |
| Total Risk Index: | 0.42 - Low |
| Category Risk Index: | 0.80 - Low |
| Category Risk Grade: | A (14% Rank) |
| Beta: | 0.52 |
| R-Squared: | 88% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Blend |
| Bond Investment Style: | na |
| Yield: | 4.6% |
| Dividend Distribution: | Semi-Annually |
| Cap Gains Distribution: | Semi-Annually |
| Total Assets: | $266 Mil |
| Fund Total Assets: | $ 141 Mil |
| Share Class Type: | S |
| Portfolio Turnover: | 48% |
Management Team
| Number of Managers: 6 | |||
| Longest Tenure: 11.3 years | |||
| Average Tenure: 3.7 years | |||
| Managers (Year): Bushallow Marc (2015), Welles Jay (2023), Mallette Elizabeth (2023), Mitchell John (2024), Slentz James (2025), Boak Jacob (2025) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 231 |
| % in Top 10 Holdings: | 29.0% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 10.6% |
Portfolio Allocation |
|
| Domestic Stock: | 16.6% |
| Foreign Stock: | 5.8% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 70.8% |
| Foreign Bond: | 4.8% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 2.1% |
Purchase Information
| Fund Family: | Manning & Napier |
| Phone Number: | 800-466-3863 |
| Website: | www.manning-napier.com |
| Status: | Open |
| Inception Date: | November 1, 1995 |
| Min. Initial Purchase: | $2,000 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 0.25% |
Expenses and Fees | |
| Expense Ratio (%): | 0.90% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.19% |
| Share Class: | Manning & Napier Pro-Blend Cnsrv Term S |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
