Fund Evaluator:

Manning & Napier Disciplined Value W Overview

Manning & Napier Disciplined Value W (MDVWX) is an actively managed U.S. Equity Large Value fund. Manning & Napier launched the fund in 2019.

The investment seeks to provide competitive returns consistent with the broad equity market while also providing a level of capital protection during market downturns. The fund invests at least 80% of its assets in dividend-paying common stocks. It invests primarily in the common stocks of mid- to large- capitalization companies. The Advisor uses a systematic process to identify stocks of companies that the advisor believes are undervalued in the market, based on factors such as free cash flow generation and earnings power, and that meet other investment criteria relating to minimum dividend yield, dividend sustainability, and financial health.

About Manning & Napier Disciplined Value W (MDVWX)

There are 2 members of the management team with an average tenure of 0.60 years: Liam McMahon (2025), Omar Nunez Guerra (2026). Management tenure is more important for actively managed funds than passive index funds.

The fund has 2 primary benchmarks: MSCI USA NR USD index with a weighting of 100% and MSCI USA Value NR USD index with a weighting of 100%. Manning & Napier Disciplined Value W has 119 securities in its portfolio. The top 10 holdings constitute 28.2% 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 Disciplined Value W is part of the Equity global asset class and is within the U.S. Equity fund group. Manning & Napier Disciplined Value W has 2.5% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 96.7%. There is 2.5% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Manning & Napier Disciplined Value W has 0.8% of the portfolio in cash.

Assets Under Management

The fund has $23 million in total assets, which is below the $1 billion average for the Large Value 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.

MDVWX 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 Disciplined Value W expense ratio is low compared to funds in the Large Value category. Manning & Napier Disciplined Value W has an expense ratio of 0.16%, which is 83% lower than its category average, making the fund expense ratio grade a A. 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 Disciplined Value W has a portfolio turnover rate of 49%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 62% for the Large Value category.

Recently, in the month of July 2026, Manning & Napier Disciplined Value W returned 3.3%, which earned it a grade of C, as the Large Value category had an average return of 2.9%. 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 Disciplined Value W has a trailing yield of 2.20%, which is above the 1.20% category average. The fund normally distributes its income quarterly.

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 Disciplined Value W Grades

Year to date, the fund has returned 17.2%, 2.9 percentage points better than the category, which translates into a grade of B. The fund has returned 30.0% over the past year (grade of A), 15.6% over the past three years (grade of C) and 10.5% per year over the past five years (grade of D) and 11.7% per year over the past 10 years (grade of B).

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