Fund Evaluator:
Praxis Growth Index I (MMDEX)
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Fund Details
Praxis Growth Index I Overview
Praxis Growth Index I (MMDEX) is a passively managed U.S. Equity Large Growth fund. Praxis Investment Management, Inc. launched the fund in 2007.
The investment seeks capital appreciation. The fund invests primarily in U.S. equity securities and seeks to reflect the performance of the U.S. large capitalization growth equities market, as measured by the CRSP U.S. Large Cap Growth Index. Under normal circumstances, it invests at least 80 percent of the value of its assets in securities of, and investments related to, issuers in the fund's benchmark index. The fund seeks to invest in companies aligned with the Stewardship Investing core values.
About Praxis Growth Index I (MMDEX)
There are 1 members of the management team with an average tenure of 13.13 years: Dale Snyder (2013). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: Morningstar US Total Market TR USD index with a weighting of 100% and Morningstar US Large Grt TR USD index with a weighting of 100%. Praxis Growth Index I has 147 securities in its portfolio. The top 10 holdings constitute 61.8% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is considered to have an ESG focus with its investment selection and management.
Praxis Growth Index I is part of the Equity global asset class and is within the U.S. Equity fund group. Praxis Growth Index I has 0.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 99.2%. There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.6% (0.6% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Praxis Growth Index I has 0.2% of the portfolio in cash.
Assets Under Management
The fund has $678 million in total assets, which is below the $2 billion average for the Large Growth 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.
MMDEX 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 Praxis Growth Index I expense ratio is below average compared to funds in the Large Growth category. Praxis Growth Index I has an expense ratio of 0.34%, which is 65% 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. Praxis Growth Index I has a portfolio turnover rate of 17%, indicating that holds its assets around 0.1 years. By way of comparison, the average portfolio turnover is 54% for the Large Growth category.
Recently, in the month of July 2026, Praxis Growth Index I returned -1.5%, which earned it a grade of B, as the Large Growth category had an average return of -3.1%. 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.
Praxis Growth Index I has a trailing yield of 0.27%, which is above the 0.06% category average. The fund normally distributes its income annually and its capital gains 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.
Praxis Growth Index I Grades
Year to date, the fund has returned 6.8%, 3.1 percentage points better than the category, which translates into a grade of B. The fund has returned 15.9% over the past year (grade of A), 20.5% over the past three years (grade of B) and 11.8% per year over the past five years (grade of A) and 16.7% per year over the past 10 years (grade of B).
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MMDEX 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 |
|
| MMDEX Return (NAV) | -1.5% | 3.6% | 15.9% | 20.5% | 11.8% | 16.7% |
| MMDEX Grade | B | B | A | B | A | B |
| +/- Category | 1.5% | 1.9% | 6.8% | 2.4% | 3.1% | 1.3% |
| Large Growth Avg | -3.1% | 1.7% | 9.1% | 18.1% | 8.7% | 15.4% |
| MMDEX Tax Cost Ratio | na | na | 1.1% | 0.7% | 1.0% | 1.1% |
MMDEX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| MMDEX Return (NAV) | 6.8% | 18.4% | 33.4% | 29.8% | -28.2% | 32.0% | 33.2% | 31.9% | 0.4% | 26.8% | 7.6% |
| MMDEX Grade | B | B | B | F | B | A | D | D | B | D | A |
| +/- Category | 3.1% | 2.7% | 3.8% | -9.0% | 3.9% | 11.6% | -9.1% | -1.3% | 1.1% | -3.0% | 4.9% |
| Large Growth Avg | 3.7% | 15.7% | 29.7% | 38.9% | -32.1% | 20.4% | 42.3% | 33.2% | -0.7% | 29.8% | 2.7% |
| Risk Measures | |
| Standard Deviation: | 16.6% |
| Total Risk Index: | 1.35 - High |
| Category Risk Index: | 0.94 - Below Average |
| Category Risk Grade: | B (38% Rank) |
| Beta: | 1.20 |
| R-Squared: | 88% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Growth |
| Bond Investment Style: | na |
| Yield: | 0.3% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $810 Mil |
| Fund Total Assets: | $ 678 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 18% |
Management Team
| Number of Managers: 1 | |||
| Longest Tenure: 13.1 years | |||
| Average Tenure: 13.1 years | |||
| Managers (Year): Snyder Dale (2013) | |||
Portfolio Composition (as of 5/31/26)
| # of Holdings: | 147 |
| % in Top 10 Holdings: | 61.8% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 0.0% |
Portfolio Allocation |
|
| Domestic Stock: | 99.2% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.6% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.2% |
Purchase Information
| Fund Family: | Praxis Investment Management, Inc. |
| Phone Number: | 800-977-2947 |
| Website: | www.praxisinvests.com |
| Status: | Open |
| Inception Date: | May 1, 2007 |
| Min. Initial Purchase: | $100,000 |
| Min. Initial IRA Purchase: | $100,000 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 0.34% ( Rating : Below Avg ) |
| Category Average Expense Ratio (%): | 0.96% |
| Share Class: | Praxis Growth Index I |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
