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 27 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 88. There are 30 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
FSLTX	Strategic Advisers Alternatives Fund	99	—	Jul 2022	SMSAX vs FSLTX
BXMIX	Blackstone Alternative Multi-Strategy Fund	99	—	Jun 2014	SMSAX vs BXMIX
ADAIX	AQR Diversified Arbitrage Fund Class I	99	—	Jan 2009	SMSAX vs ADAIX

Top Performing SMSAX Alternatives (YTD)

SMSAX is at 6.12% YTD. There are 27 mutual funds in the Multistrategy category with higher YTD returns, going as high as 22.83%.

Symbol	Name	YTD Return	AUM	Inception
QRPRX	AQR Alternative Risk Premia R6	22.83%	—	Sep 2017	SMSAX vs QRPRX
QRPIX	AQR Alternative Risk Premia Fund - Class I	22.71%	—	Sep 2017	SMSAX vs QRPIX
QRPNX	AQR Alternative Risk Premia Fund Class N	22.58%	—	Sep 2017	SMSAX vs QRPNX
QSPIX	AQR Style Premia Alternative Fund - Class I	18.03%	—	Oct 2013	SMSAX vs QSPIX
QSPRX	AQR Style Premia Alternative R6	18.03%	—	Sep 2014	SMSAX vs QSPRX

Lowest Volatility Alternatives to SMSAX

SMSAX has 5.69% 1-year volatility. There are 30 mutual funds in the Multistrategy category with lower 1-year volatility, going as low as 1.25%.

Symbol	Name	Volatility 1Y	AUM	Inception
ARBIX	Absolute Convertible Arbitrage Fund Institutional ...	1.25%	—	Aug 2017	SMSAX vs ARBIX
ADAIX	AQR Diversified Arbitrage Fund Class I	1.49%	—	Jan 2009	SMSAX vs ADAIX
ADANX	AQR Diversified Arbitrage Fund Class N	1.49%	—	Jan 2009	SMSAX vs ADANX
FSLTX	Strategic Advisers Alternatives Fund	2.26%	—	Jul 2022	SMSAX vs FSLTX
MSTVX	Morningstar Alternatives Fund	2.29%	—	Nov 2018	SMSAX vs MSTVX

Lowest Drawdown Alternatives to SMSAX

SMSAX has a 1-year max drawdown of -3.66%. There are 32 mutual funds in the Multistrategy category with shallower 1-year drawdowns, going as shallow as -0.51%.

Symbol	Name	Max Drawdown 1Y	AUM	Inception
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
ADAIX	AQR Diversified Arbitrage Fund Class I	-0.60%	—	Jan 2009	SMSAX vs ADAIX
ADANX	AQR Diversified Arbitrage Fund Class N	-0.60%	—	Jan 2009	SMSAX vs ADANX
FSLTX	Strategic Advisers Alternatives Fund	-0.86%	—	Jul 2022	SMSAX vs FSLTX

Other Mutual Funds from SEI

The 10 most viewed SEI mutual funds shown here include ENIAX, STDAX, SICIX and span 8 categories.

Symbol	Name	Category	Risk / Return Rank	YTD Return	AUM	Inception
ENIAX	SEI Institutional Investments Trust Opportunistic ...	Ultrashort Bond	100	2.27%	—	Dec 2006	SMSAX vs ENIAX
STDAX	SEI Asset Allocation Trust Defensive Strategy Allo...	Diversified Portfolio	99	1.58%	—	Nov 2003	SMSAX vs STDAX
SICIX	SEI Asset Allocation Trust Conservative Strategy F...	Diversified Portfolio	85	3.12%	—	Nov 2003	SMSAX vs SICIX
SGYAX	SEI Institutional Investments Trust High Yield Bon...	High Yield Bonds	35	0.93%	—	Dec 2005	SMSAX vs SGYAX
SDLAX	SEI Institutional Investments Trust Dynamic Asset ...	Large Cap Blend Equities	48	9.15%	—	Jul 2010	SMSAX vs SDLAX
SEATX	SEI Tax Exempt Trust Tax-Advantaged Income Fund	Intermediate Core-Plus Bond	50	1.08%	—	Sep 2007	SMSAX vs SEATX
SPINX	SEI Institutional Investments Trust S&P 500 Index ...	S&P 500	59	10.09%	—	Dec 2013	SMSAX vs SPINX
SIEMX	SEI Institutional International Trust Emerging Mar...	Emerging Markets Equities	68	19.26%	—	Jan 1995	SMSAX vs SIEMX
CAVAX	SEI Catholic Values Trust Catholic Values Equity F...	Large Cap Blend Equities	56	10.38%	—	Apr 2015	SMSAX vs CAVAX
SEITX	SEI Institutional International Trust Internationa...	Foreign Large Cap Equities	78	13.59%	—	Dec 1989	SMSAX vs SEITX

Often Compared With SMSAX

Investors most often compare SMSAX with VOO, SEIMX, 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	78	11.72%	1.70T	Sep 2010	SMSAX vs VOO
SEIMX	SEI Tax Exempt Trust Intermediate-Term Municipal F...	Municipal Bonds	56	-0.10%	—	Sep 1989	SMSAX vs SEIMX
FCRIX	FS Credit Income Fund Class I	Multistrategy	97	3.24%	—	Nov 2017	SMSAX vs FCRIX
SRWAX	SEI Asset Allocation Trust Market Growth Strategy ...	Diversified Portfolio	81	8.87%	—	Nov 2003	SMSAX vs SRWAX
SECAX	SEI Institutional Investments Trust Small Cap II F...	Small Cap Blend Equities	81	18.11%	—	Apr 2012	SMSAX vs SECAX
SUMAX	SEI Tax Exempt Trust Short Duration Municipal Fund	Municipal Bonds	82	0.83%	—	Nov 2003	SMSAX vs SUMAX
SMOAX	SEI Asset Allocation Trust Moderate Strategy Fund	Diversified Portfolio	81	4.96%	—	Nov 2003	SMSAX vs SMOAX
SISAX	SEI Asset Allocation Trust Tax-Managed Aggressive ...	Diversified Portfolio	75	10.30%	—	Nov 2003	SMSAX vs SISAX
SIDCX	SEI Institutional Investments Trust Intermediate D...	Corporate Bonds	10	-1.18%	—	Mar 2015	SMSAX vs SIDCX
CFVAX	SEI Catholic Values Trust Catholic Values Fixed In...	Intermediate Core-Plus Bond	10	-1.18%	—	Apr 2015	SMSAX vs CFVAX
SECPX	SEI Daily Income Ultra Short Duration Bond Fund	Ultrashort Bond	97	1.32%	—	Sep 1993	SMSAX vs SECPX
QSPNX	AQR Style Premia Alternative Fund Class N	Multistrategy	88	17.82%	—	Oct 2013	SMSAX vs QSPNX
SLPAX	SEI Institutional Investments Trust Small Cap Fund	Small Cap Blend Equities	67	15.48%	—	Jun 1996	SMSAX vs SLPAX
SEFIX	SEI Institutional International Trust Internationa...	Global Bonds	6	-0.34%	—	Aug 1993	SMSAX vs SEFIX
SMQFX	SEI Institutional Investments Trust Emerging Marke...	Emerging Markets Equities	73	18.65%	—	Oct 2014	SMSAX vs SMQFX
SPIIX	SEI S&P 500 Index Fund Class I	Large Cap Blend Equities	52	9.65%	—	Jun 2002	SMSAX vs SPIIX
SITEX	SEI Institutional International Trust Emerging Mar...	Emerging Markets Bonds	79	3.52%	—	Jun 1997	SMSAX vs SITEX
SRAAX	SEI Institutional Managed Trust Real Return Fund	Inflation-Protected Bonds	65	1.42%	—	Jul 2009	SMSAX vs SRAAX
SEHAX	SEI Institutional Investments Trust U.S. Equity Fa...	Large Cap Blend Equities	83	13.78%	—	Apr 2018	SMSAX vs SEHAX
SEPAX	SEI Tax-Exempt Trust Pennsylvania Municipal Bond F...	Municipal Bonds	30	-0.66%	—	Aug 1998	SMSAX vs SEPAX

Compare SMSAX with Any Fund or Stock

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

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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