Praxis Mutual Funds

Portfolio manager retention at Praxis Mutual Funds could be improved. The firm has lacked continuity over the past five years, with higher-than-average manager turnover. The firm charges fees on open-end and exchange-traded funds that are on par with category peers. On average, fees are within the middle quintile, giving it neither an advantage nor disadvantage compared with the competition. The firm has not had a durable product lineup. Specifically, its 10-year success ratio demonstrates that only 38% of products were both able to survive and beat their respective category median. A low success ratio indicates poor performance and raises questions about a firm’s discipline around investment strategy and product development.