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 89. There are 19 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
ADAIX	AQR Diversified Arbitrage Fund Class I	99	—	Jan 2009	SMSAX vs ADAIX
BXMIX	Blackstone Alternative Multi-Strategy Fund	99	—	Jun 2014	SMSAX vs BXMIX

Top Performing SMSAX Alternatives (YTD)

SMSAX is at 7.33% YTD. There are 17 mutual funds in the Multistrategy category with higher YTD returns, going as high as 18.48%.

Symbol	Name	YTD Return	AUM	Inception
QRPRX	AQR Alternative Risk Premia R6	18.48%	—	Sep 2017	SMSAX vs QRPRX
QRPIX	AQR Alternative Risk Premia Fund	18.34%	—	Sep 2017	SMSAX vs QRPIX
QRPNX	AQR Alternative Risk Premia Fund Class N	18.26%	—	Sep 2017	SMSAX vs QRPNX
QSPRX	AQR Style Premia Alternative R6	12.97%	—	Sep 2014	SMSAX vs QSPRX
QSPIX	AQR Style Premia Alternative Fund	12.95%	—	Oct 2013	SMSAX vs QSPIX

Lowest Volatility Alternatives to SMSAX

SMSAX has 5.66% 1-year volatility. There are 25 mutual funds in the Multistrategy category with lower 1-year volatility, going as low as 1.24%.

Symbol	Name	Volatility 1Y	AUM	Inception
ARBIX	Absolute Convertible Arbitrage Fund Institutional ...	1.24%	—	Aug 2017	SMSAX vs ARBIX
ADANX	AQR Diversified Arbitrage Fund Class N	1.42%	—	Jan 2009	SMSAX vs ADANX
ADAIX	AQR Diversified Arbitrage Fund Class I	1.42%	—	Jan 2009	SMSAX vs ADAIX
TMSRX	T. Rowe Price Multi-Strategy Total Return Fund	1.68%	—	Feb 2018	SMSAX vs TMSRX
FSLTX	Strategic Advisers Alternatives Fund	2.18%	—	Jul 2022	SMSAX vs FSLTX

Lowest Drawdown Alternatives to SMSAX

SMSAX has a 1-year max drawdown of -3.66%. There are 29 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, STDAX, SGYAX and span 8 categories.

Symbol	Name	Category	Risk / Return Rank	YTD Return	AUM	Inception
ENIAX	SEI Institutional Investments Trust Opportunistic ...	Ultrashort Bond	99	1.77%	—	Dec 2006	SMSAX vs ENIAX
STDAX	SEI Asset Allocation Trust Defensive Strategy Allo...	Diversified Portfolio	99	1.48%	—	Nov 2003	SMSAX vs STDAX
SGYAX	SEI Institutional Investments Trust High Yield Bon...	High Yield Bonds	60	1.29%	—	Dec 2005	SMSAX vs SGYAX
SEATX	SEI Tax Exempt Trust Tax-Advantaged Income Fund	Intermediate Core-Plus Bond	46	2.21%	—	Sep 2007	SMSAX vs SEATX
SDLAX	SEI Institutional Investments Trust Dynamic Asset ...	Large Cap Blend Equities	53	8.32%	—	Jul 2010	SMSAX vs SDLAX
SIEMX	SEI Institutional International Trust Emerging Mar...	Emerging Markets Diversified	88	29.60%	—	Jan 1995	SMSAX vs SIEMX
SPINX	SEI Institutional Investments Trust S&P 500 Index ...	S&P 500	65	9.73%	—	Dec 2013	SMSAX vs SPINX
SICIX	SEI Asset Allocation Trust Conservative Strategy F...	Diversified Portfolio	61	2.01%	—	Nov 2003	SMSAX vs SICIX
SEITX	SEI Institutional International Trust Internationa...	Foreign Large Cap Equities	50	11.04%	—	Dec 1989	SMSAX vs SEITX
CAVAX	SEI Catholic Values Trust Catholic Values Equity F...	Large Cap Blend Equities	44	8.14%	—	Apr 2015	SMSAX vs CAVAX

Often Compared With SMSAX

Investors most often compare SMSAX with VOO, SEIMX, FCRIX. These 20 comparison targets span 14 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	59	8.19%	1.70T	Sep 2010	SMSAX vs VOO
SEIMX	SEI Tax Exempt Trust Intermediate-Term Municipal F...	Municipal Bonds	66	1.27%	—	Sep 1989	SMSAX vs SEIMX
FCRIX	FS Credit Income Fund Class I	Multistrategy	97	2.72%	—	Nov 2017	SMSAX vs FCRIX
SRWAX	SEI Asset Allocation Trust Market Growth Strategy ...	Diversified Portfolio	77	8.66%	—	Nov 2003	SMSAX vs SRWAX
SIDCX	SEI Institutional Investments Trust Intermediate D...	Corporate Bonds	20	0.26%	—	Mar 2015	SMSAX vs SIDCX
SMOAX	SEI Asset Allocation Trust Moderate Strategy Fund	Diversified Portfolio	61	3.91%	—	Nov 2003	SMSAX vs SMOAX
SECAX	SEI Institutional Investments Trust Small Cap II F...	Small Cap Blend Equities	70	17.94%	—	Apr 2012	SMSAX vs SECAX
SUMAX	SEI Tax Exempt Trust Short Duration Municipal Fund	Municipal Bonds	90	0.90%	—	Nov 2003	SMSAX vs SUMAX
SITEX	SEI Institutional International Trust Emerging Mar...	Emerging Markets Bonds	78	4.00%	—	Jun 1997	SMSAX vs SITEX
SEIAX	SEI Multi-Asset Real Return Fund Class A	Inflation-Protected Bonds	36	5.53%	—	Jul 2011	SMSAX vs SEIAX
SEHAX	SEI Institutional Investments Trust U.S. Equity Fa...	Large Cap Blend Equities	73	10.50%	—	Apr 2018	SMSAX vs SEHAX
SPIIX	SEI S&P 500 Index Fund Class I	Large Cap Blend Equities	60	9.38%	—	Jun 2002	SMSAX vs SPIIX
SEPAX	SEI Tax-Exempt Trust Pennsylvania Municipal Bond F...	Municipal Bonds	56	0.49%	—	Aug 1998	SMSAX vs SEPAX
CFVAX	SEI Catholic Values Trust Catholic Values Fixed In...	Intermediate Core-Plus Bond	15	-0.07%	—	Apr 2015	SMSAX vs CFVAX
SEFIX	SEI Institutional International Trust Internationa...	Global Bonds	4	0.00%	—	Aug 1993	SMSAX vs SEFIX
SGOAX	SEI Asset Allocation Trust Market Growth Strategy ...	Diversified Portfolio	63	8.68%	—	Nov 2003	SMSAX vs SGOAX
SECPX	SEI Daily Income Ultra Short Duration Bond Fund	Ultrashort Bond	96	0.99%	—	Sep 1993	SMSAX vs SECPX
SRAAX	SEI Institutional Managed Trust Real Return Fund	Inflation-Protected Bonds	46	0.86%	—	Jul 2009	SMSAX vs SRAAX
SCOAX	SEI Institutional Investments Trust Core Fixed Inc...	Intermediate Core Bond	19	0.07%	—	Jun 1996	SMSAX vs SCOAX
SMQFX	SEI Institutional Investments Trust Emerging Marke...	Emerging Markets Diversified	90	26.31%	—	Oct 2014	SMSAX vs SMQFX

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