Fund Evaluator:
Praxis Value Index A (MVIAX)
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Fund Details
Praxis Value Index A Overview
Praxis Value Index A (MVIAX) is a passively managed U.S. Equity Large Value fund. Praxis Investment Management, Inc. launched the fund in 2001.
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 value equities market, as measured by the CRSP U.S. Large Cap Value 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 Value Index A (MVIAX)
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 Val TR USD index with a weighting of 100%. Praxis Value Index A has 265 securities in its portfolio. The top 10 holdings constitute 22.9% 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 Value Index A is part of the Equity global asset class and is within the U.S. Equity fund group. Praxis Value Index A has 1.4% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 97.5%. There is 1.4% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.7% (0.7% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Praxis Value Index A has 0.4% of the portfolio in cash.
Assets Under Management
The fund has $37 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.
MVIAX 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 Value Index A expense ratio is above average compared to funds in the Large Value category. Praxis Value Index A has an expense ratio of 0.69%, which is 25% lower than its category average, making the fund expense ratio grade a B. 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 Value Index A has a portfolio turnover rate of 25%, 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, Praxis Value Index A returned 1.0%, which earned it a grade of F, 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.
Praxis Value Index A has a trailing yield of 0.91%, which is below the 1.20% 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 Value Index A Grades
Year to date, the fund has returned 16.8%, 2.5 percentage points better than the category, which translates into a grade of B. The fund has returned 25.0% over the past year (grade of C), 15.0% over the past three years (grade of D) and 11.4% per year over the past five years (grade of B) and 12.1% per year over the past 10 years (grade of B).
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MVIAX 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 |
|
| MVIAX Return (NAV) | 1.0% | 7.5% | 25.0% | 15.0% | 11.4% | 12.1% |
| MVIAX Grade | F | B | C | D | B | B |
| +/- Category | -1.9% | 1.2% | 1.2% | -0.7% | 0.5% | 0.8% |
| Large Value Avg | 2.9% | 6.2% | 23.8% | 15.7% | 10.9% | 11.3% |
| MVIAX Tax Cost Ratio | na | na | 0.4% | 1.4% | 1.4% | 1.6% |
MVIAX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| MVIAX Return (NAV) | 16.8% | 13.0% | 10.3% | 20.0% | -7.9% | 24.5% | 3.6% | 32.2% | -8.5% | 16.3% | 16.1% |
| MVIAX Grade | B | D | F | A | D | D | C | A | C | C | B |
| +/- Category | 2.5% | -2.2% | -3.8% | 8.2% | -1.8% | -1.3% | -0.3% | 6.6% | -0.0% | -0.1% | 1.6% |
| Large Value Avg | 14.3% | 15.2% | 14.1% | 11.8% | -6.0% | 25.8% | 3.8% | 25.6% | -8.5% | 16.4% | 14.6% |
| Risk Measures | |
| Standard Deviation: | 12.2% |
| Total Risk Index: | 0.99 - Average |
| Category Risk Index: | 1.01 - Average |
| Category Risk Grade: | C (58% Rank) |
| Beta: | 0.75 |
| R-Squared: | 64% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Value |
| Bond Investment Style: | na |
| Yield: | 0.9% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $617 Mil |
| Fund Total Assets: | $ 38 Mil |
| Share Class Type: | A |
| Portfolio Turnover: | 26% |
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: | 265 |
| % in Top 10 Holdings: | 22.9% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 1.4% |
Portfolio Allocation |
|
| Domestic Stock: | 97.5% |
| Foreign Stock: | 1.4% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.7% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.4% |
Purchase Information
| Fund Family: | Praxis Investment Management, Inc. |
| Phone Number: | 800-977-2947 |
| Website: | www.praxisinvests.com |
| Status: | Open |
| Inception Date: | May 1, 2001 |
| Min. Initial Purchase: | $2,500 |
| Min. Initial IRA Purchase: | $2,500 |
| True No-Load: | No |
| Front Load Maximum: | 5.25% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 0.25% |
Expenses and Fees | |
| Expense Ratio (%): | 0.69% ( Rating : Above Avg ) |
| Category Average Expense Ratio (%): | 0.93% |
| Share Class: | Praxis Value Index A |
| Min. Subsequent Purchase: | $ 100 |
| Min. Subsequent IRA Purchase: | $ 100 |
