SMSAX Alternatives & Similar Mutual Funds

SEI Institutional Managed Trust Multi-Strategy Alternative Fund (SMSAX) belongs to the Multistrategy category. Below you'll find alternative mutual funds from the same category, ranked by key criteria, plus funds that investors commonly compare with SMSAX. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.

Cheapest Alternatives to SMSAX

SMSAX charges 1.35% annually. There are 20 mutual funds in the Multistrategy category with lower expense ratios, going as low as 0.18%.

Symbol	Name	Expense Ratio	AUM	Inception
RMDFX	Aspiriant Defensive Allocation Fund	0.18%	—	Dec 2015	SMSAX vs RMDFX
SPATX	Symmetry Panoramic Alternatives Fund	0.50%	—	Nov 2018	SMSAX vs SPATX
TALTX	Morgan Stanley Pathway Funds Alternative Strategie...	0.59%	—	Feb 2018	SMSAX vs TALTX
GAAVX	GMO Alternative Allocation Fund	0.61%	—	May 2019	SMSAX vs GAAVX
JAAAX	John Hancock Funds Alternative Asset Allocation Fu...	0.72%	—	Jan 2009	SMSAX vs JAAAX

Best Risk-Adjusted Alternatives to SMSAX

SMSAX has a PortfoliosLab risk / return rank of 91. There are 18 mutual funds in the Multistrategy category with higher risk-adjusted ranks, going as high as 100.

Symbol	Name	Risk / Return Rank	AUM	Inception
SRRIX	Stone Ridge Reinsurance Risk Premium Interval Fund	100	—	Dec 2013	SMSAX vs SRRIX
ARBIX	Absolute Convertible Arbitrage Fund Institutional ...	100	—	Aug 2017	SMSAX vs ARBIX
ADAIX	AQR Diversified Arbitrage Fund Class I	99	—	Jan 2009	SMSAX vs ADAIX
ADANX	AQR Diversified Arbitrage Fund Class N	99	—	Jan 2009	SMSAX vs ADANX
SHRIX	Stone Ridge High Yield Reinsurance Risk Premium Fu...	98	—	Feb 2013	SMSAX vs SHRIX

Top Performing SMSAX Alternatives (YTD)

SMSAX is at 6.73% YTD. There are 21 mutual funds in the Multistrategy category with higher YTD returns, going as high as 19.20%.

Symbol	Name	YTD Return	AUM	Inception
QRPRX	AQR Alternative Risk Premia R6	19.20%	—	Sep 2017	SMSAX vs QRPRX
QRPIX	AQR Alternative Risk Premia Fund	19.14%	—	Sep 2017	SMSAX vs QRPIX
QRPNX	AQR Alternative Risk Premia Fund Class N	19.06%	—	Sep 2017	SMSAX vs QRPNX
MAFIX	Abbey Capital Multi Asset Fund Class I	13.26%	—	Apr 2018	SMSAX vs MAFIX
QSPRX	AQR Style Premia Alternative R6	12.86%	—	Sep 2014	SMSAX vs QSPRX

Lowest Volatility Alternatives to SMSAX

SMSAX has 5.39% 1-year volatility. There are 24 mutual funds in the Multistrategy category with lower 1-year volatility, going as low as 1.23%.

Symbol	Name	Volatility 1Y	AUM	Inception
ARBIX	Absolute Convertible Arbitrage Fund Institutional ...	1.23%	—	Aug 2017	SMSAX vs ARBIX
ADAIX	AQR Diversified Arbitrage Fund Class I	1.40%	—	Jan 2009	SMSAX vs ADAIX
ADANX	AQR Diversified Arbitrage Fund Class N	1.43%	—	Jan 2009	SMSAX vs ADANX
TMSRX	T. Rowe Price Multi-Strategy Total Return Fund	1.70%	—	Feb 2018	SMSAX vs TMSRX
TALTX	Morgan Stanley Pathway Funds Alternative Strategie...	2.02%	—	Feb 2018	SMSAX vs TALTX

Lowest Drawdown Alternatives to SMSAX

SMSAX has a 1-year max drawdown of -3.66%. There are 28 mutual funds in the Multistrategy category with shallower 1-year drawdowns, going as shallow as -0.39%.

Symbol	Name	Max Drawdown 1Y	AUM	Inception
ADANX	AQR Diversified Arbitrage Fund Class N	-0.39%	—	Jan 2009	SMSAX vs ADANX
ADAIX	AQR Diversified Arbitrage Fund Class I	-0.46%	—	Jan 2009	SMSAX vs ADAIX
ARBIX	Absolute Convertible Arbitrage Fund Institutional ...	-0.51%	—	Aug 2017	SMSAX vs ARBIX
SRRIX	Stone Ridge Reinsurance Risk Premium Interval Fund	-0.55%	—	Dec 2013	SMSAX vs SRRIX
TMSRX	T. Rowe Price Multi-Strategy Total Return Fund	-0.83%	—	Feb 2018	SMSAX vs TMSRX

Other Mutual Funds from SEI

The 10 most viewed SEI mutual funds shown here include ENIAX, SGYAX, STDAX and span 9 categories.

Symbol	Name	Category	Risk / Return Rank	YTD Return	AUM	Inception
ENIAX	SEI Institutional Investments Trust Opportunistic ...	Ultrashort Bond	100	1.52%	—	Dec 2006	SMSAX vs ENIAX
SGYAX	SEI Institutional Investments Trust High Yield Bon...	High Yield Bonds	67	1.59%	—	Dec 2005	SMSAX vs SGYAX
STDAX	SEI Asset Allocation Trust Defensive Strategy Allo...	Diversified Portfolio	99	1.30%	—	Nov 2003	SMSAX vs STDAX
SEATX	SEI Tax Exempt Trust Tax-Advantaged Income Fund	Intermediate Core-Plus Bond	33	2.10%	—	Sep 2007	SMSAX vs SEATX
SDLAX	SEI Institutional Investments Trust Dynamic Asset ...	Large Cap Blend Equities	63	10.56%	—	Jul 2010	SMSAX vs SDLAX
SIEMX	SEI Institutional International Trust Emerging Mar...	Emerging Markets Diversified	89	27.48%	—	Jan 1995	SMSAX vs SIEMX
SPINX	SEI Institutional Investments Trust S&P 500 Index ...	S&P 500	74	11.50%	—	Dec 2013	SMSAX vs SPINX
SEITX	SEI Institutional International Trust Internationa...	Foreign Large Cap Equities	46	10.27%	—	Dec 1989	SMSAX vs SEITX
CAVAX	SEI Catholic Values Trust Catholic Values Equity F...	Large Cap Blend Equities	47	9.32%	—	Apr 2015	SMSAX vs CAVAX
SEIMX	SEI Tax Exempt Trust Intermediate-Term Municipal F...	Municipal Bonds	64	1.18%	—	Sep 1989	SMSAX vs SEIMX

Often Compared With SMSAX

Investors most often compare SMSAX with VOO, QSPIX, FCRIX. These 20 comparison targets span 13 categories, based on PortfoliosLab usage data.

Symbol	Name	Category	Risk / Return Rank	YTD Return	AUM	Inception
VOO	Vanguard S&P 500 ETF	S&P 500	75	11.69%	1.60T	Sep 2010	SMSAX vs VOO
QSPIX	AQR Style Premia Alternative Fund	Multistrategy	52	12.83%	—	Oct 2013	SMSAX vs QSPIX
FCRIX	FS Credit Income Fund Class I	Multistrategy	96	2.81%	—	Nov 2017	SMSAX vs FCRIX
SICIX	SEI Asset Allocation Trust Conservative Strategy F...	Diversified Portfolio	66	2.46%	—	Nov 2003	SMSAX vs SICIX
SIDCX	SEI Institutional Investments Trust Intermediate D...	Corporate Bonds	23	0.60%	—	Mar 2015	SMSAX vs SIDCX
SRWAX	SEI Asset Allocation Trust Market Growth Strategy ...	Diversified Portfolio	78	8.95%	—	Nov 2003	SMSAX vs SRWAX
SMOAX	SEI Asset Allocation Trust Moderate Strategy Fund	Diversified Portfolio	68	4.64%	—	Nov 2003	SMSAX vs SMOAX
SITEX	SEI Institutional International Trust Emerging Mar...	Emerging Markets Bonds	79	3.35%	—	Jun 1997	SMSAX vs SITEX
SPIIX	SEI S&P 500 Index Fund Class I	Large Cap Blend Equities	70	11.19%	—	Jun 2002	SMSAX vs SPIIX
SEIAX	SEI Multi-Asset Real Return Fund Class A	Inflation-Protected Bonds	81	7.96%	—	Jul 2011	SMSAX vs SEIAX
SEHAX	SEI Institutional Investments Trust U.S. Equity Fa...	Large Cap Blend Equities	81	12.99%	—	Apr 2018	SMSAX vs SEHAX
SEPAX	SEI Tax-Exempt Trust Pennsylvania Municipal Bond F...	Municipal Bonds	55	0.39%	—	Aug 1998	SMSAX vs SEPAX
CFVAX	SEI Catholic Values Trust Catholic Values Fixed In...	Intermediate Core-Plus Bond	17	0.28%	—	Apr 2015	SMSAX vs CFVAX
SECAX	SEI Institutional Investments Trust Small Cap II F...	Small Cap Blend Equities	58	13.54%	—	Apr 2012	SMSAX vs SECAX
SGOAX	SEI Asset Allocation Trust Market Growth Strategy ...	Diversified Portfolio	61	8.99%	—	Nov 2003	SMSAX vs SGOAX
SRAAX	SEI Institutional Managed Trust Real Return Fund	Inflation-Protected Bonds	79	1.79%	—	Jul 2009	SMSAX vs SRAAX
SUMAX	SEI Tax Exempt Trust Short Duration Municipal Fund	Municipal Bonds	90	0.90%	—	Nov 2003	SMSAX vs SUMAX
SECPX	SEI Daily Income Ultra Short Duration Bond Fund	Ultrashort Bond	97	1.21%	—	Sep 1993	SMSAX vs SECPX
SCOAX	SEI Institutional Investments Trust Core Fixed Inc...	Intermediate Core Bond	21	0.30%	—	Jun 1996	SMSAX vs SCOAX
SEFIX	SEI Institutional International Trust Internationa...	Global Bonds	5	-0.22%	—	Aug 1993	SMSAX vs SEFIX

Compare SMSAX with Any Fund or Stock

Compare SMSAX with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.

Symbol name

Diversifiers

Pair SMSAX with funds that move differently

SEI Institutional Managed Trust Multi-Strategy Alternative Fund alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to SMSAX.

Explore SMSAX Diversifiers

SEI Institutional Managed Trust Multi-Strategy Alternative Fund (SMSAX) Alternatives