SUMAX Alternatives & Similar Mutual Funds

SEI Tax Exempt Trust Short Duration Municipal Fund (SUMAX) belongs to the Municipal Bonds category. Below you'll find alternative mutual funds from the same category, ranked by key criteria, plus funds that investors commonly compare with SUMAX. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.

Cheapest Alternatives to SUMAX

SUMAX charges 0.63% annually. There are 246 mutual funds in the Municipal Bonds category with lower expense ratios, going as low as 0.01%.

Symbol	Name	Expense Ratio	AUM	Inception
LSMSX	Western Asset SMASh Series TF Fund	0.01%	—	Dec 2015	SUMAX vs LSMSX
VTMFX	Vanguard Tax-Managed Balanced Fund Admiral Shares	0.05%	12.30B	Sep 1994	SUMAX vs VTMFX
FHMIX	Federated Hermes Conservative Municipal Microshort...	0.05%	—	Feb 2021	SUMAX vs FHMIX
NMTRX	Nuveen Municipal Total Return Managed Accounts	0.05%	—	May 2007	SUMAX vs NMTRX
FSMUX	Strategic Advisers Municipal Bond Fund	0.06%	—	Jun 2021	SUMAX vs FSMUX

Best Risk-Adjusted Alternatives to SUMAX

SUMAX has a PortfoliosLab risk / return rank of 92. There are 37 mutual funds in the Municipal Bonds category with higher risk-adjusted ranks, going as high as 100.

Symbol	Name	Risk / Return Rank	AUM	Inception
DFABX	DFA Short-Term Selective State Municipal Bond Port...	100	—	Apr 2022	SUMAX vs DFABX
DFSMX	DFA Short Term Municipal Bond Portfolio	100	—	Aug 2002	SUMAX vs DFSMX
ATOIX	abrdn Ultra Short Municipal Income Fund	100	—	Dec 2002	SUMAX vs ATOIX
FHMIX	Federated Hermes Conservative Municipal Microshort...	99	—	Feb 2021	SUMAX vs FHMIX
TFCYX	SEI Institutional Managed Trust Tax-Free Conservat...	99	—	Apr 2016	SUMAX vs TFCYX

Top Performing SUMAX Alternatives (YTD)

SUMAX is at 1.13% YTD. There are 373 mutual funds in the Municipal Bonds category with higher YTD returns, going as high as 10.89%.

Symbol	Name	YTD Return	AUM	Inception
NRK	Nuveen New York AMT Free Quality Municipal Income	10.89%	—	Nov 2002	SUMAX vs NRK
NMI	Nuveen Municipal Income Fund, Inc.	10.46%	—	Apr 1998	SUMAX vs NMI
MIY	BlackRock MuniYield Michigan Quality Fund	9.15%	—	Oct 1992	SUMAX vs MIY
AFB	AllianceBernstein National Municipal Income Fund	7.14%	—	Nov 2001	SUMAX vs AFB
MUC	BlackRock MuniHoldings California Quality Fund	7.14%	—	Feb 1998	SUMAX vs MUC

Lowest Volatility Alternatives to SUMAX

SUMAX has 1.16% 1-year volatility. There are 26 mutual funds in the Municipal Bonds category with lower 1-year volatility, going as low as 0.55%.

Symbol	Name	Volatility 1Y	AUM	Inception
DFSMX	DFA Short Term Municipal Bond Portfolio	0.55%	—	Aug 2002	SUMAX vs DFSMX
DFABX	DFA Short-Term Selective State Municipal Bond Port...	0.55%	—	Apr 2022	SUMAX vs DFABX
DFCMX	DFA California Short Term Municipal Bond Portfolio	0.57%	—	Apr 2007	SUMAX vs DFCMX
USMSX	JPMorgan Ultra-Short Municipal Fund	0.58%	—	May 2016	SUMAX vs USMSX
USMTX	JPMorgan Ultra-Short Municipal Fund	0.59%	—	May 2016	SUMAX vs USMTX

Lowest Drawdown Alternatives to SUMAX

SUMAX has a 1-year max drawdown of -0.79%. There are 21 mutual funds in the Municipal Bonds category with shallower 1-year drawdowns, going as shallow as 0.00%.

Symbol	Name	Max Drawdown 1Y	AUM	Inception
BATVX	BlackRock Allocation Target Shares	0.00%	—	May 2021	SUMAX vs BATVX
ATOIX	abrdn Ultra Short Municipal Income Fund	-0.10%	—	Dec 2002	SUMAX vs ATOIX
TFCYX	SEI Institutional Managed Trust Tax-Free Conservat...	-0.10%	—	Apr 2016	SUMAX vs TFCYX
FHMIX	Federated Hermes Conservative Municipal Microshort...	-0.10%	—	Feb 2021	SUMAX vs FHMIX
DFSMX	DFA Short Term Municipal Bond Portfolio	-0.11%	—	Aug 2002	SUMAX vs DFSMX

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	2.01%	—	Dec 2006	SUMAX vs ENIAX
STDAX	SEI Asset Allocation Trust Defensive Strategy Allo...	Diversified Portfolio	99	1.67%	—	Nov 2003	SUMAX vs STDAX
SGYAX	SEI Institutional Investments Trust High Yield Bon...	High Yield Bonds	56	1.37%	—	Dec 2005	SUMAX vs SGYAX
SEATX	SEI Tax Exempt Trust Tax-Advantaged Income Fund	Intermediate Core-Plus Bond	68	2.44%	—	Sep 2007	SUMAX vs SEATX
SDLAX	SEI Institutional Investments Trust Dynamic Asset ...	Large Cap Blend Equities	51	9.73%	—	Jul 2010	SUMAX vs SDLAX
SPINX	SEI Institutional Investments Trust S&P 500 Index ...	S&P 500	66	10.86%	—	Dec 2013	SUMAX vs SPINX
SICIX	SEI Asset Allocation Trust Conservative Strategy F...	Diversified Portfolio	74	2.57%	—	Nov 2003	SUMAX vs SICIX
SIEMX	SEI Institutional International Trust Emerging Mar...	Emerging Markets Diversified	73	20.82%	—	Jan 1995	SUMAX vs SIEMX
SEITX	SEI Institutional International Trust Internationa...	Foreign Large Cap Equities	58	11.04%	—	Dec 1989	SUMAX vs SEITX
CAVAX	SEI Catholic Values Trust Catholic Values Equity F...	Large Cap Blend Equities	44	9.20%	—	Apr 2015	SUMAX vs CAVAX

Often Compared With SUMAX

Investors most often compare SUMAX with BMN, MUB, APUSX. These 18 comparison targets span 4 categories, based on PortfoliosLab usage data.

Symbol	Name	Category	Risk / Return Rank	YTD Return	AUM	Inception
BMN	Blackrock 2037 Municipal Target Term Trust	Municipal Bonds	12	0.12%	—	Oct 2022	SUMAX vs BMN
MUB	iShares National AMT-Free Muni Bond ETF	Municipal Bonds	76	1.27%	45.66B	Sep 2007	SUMAX vs MUB
APUSX	Cavanal Hill Ultra Short Tax-Free Income Fund	Municipal Bonds	20	1.00%	—	Dec 2017	SUMAX vs APUSX
SEIMX	SEI Tax Exempt Trust Intermediate-Term Municipal F...	Municipal Bonds	70	1.26%	—	Sep 1989	SUMAX vs SEIMX
SPIIX	SEI S&P 500 Index Fund Class I	Large Cap Blend Equities	59	10.43%	—	Jun 2002	SUMAX vs SPIIX
SMSAX	SEI Institutional Managed Trust Multi-Strategy Alt...	Multistrategy	84	6.43%	—	Mar 2010	SUMAX vs SMSAX
LDRAX	SEI Institutional Investments Trust Long Duration ...	Long-Term Bond	8	-1.58%	—	Apr 2004	SUMAX vs LDRAX
SBDAX	SEI Tax Exempt Trust California Municipal Bond Fun...	Municipal Bonds	53	0.08%	—	Aug 1998	SUMAX vs SBDAX
NJTFX	T. Rowe Price New Jersey Tax Free Bond Fund	Municipal Bonds	94	2.23%	—	Apr 1991	SUMAX vs NJTFX
DMREX	DFA Municipal Real Return Portfolio	Municipal Bonds	93	2.06%	—	Nov 2014	SUMAX vs DMREX
FXIEX	PIMCO Fixed Income SHares: Series TE	Municipal Bonds	90	2.11%	—	Jun 2012	SUMAX vs FXIEX
FGNSX	Strategic Advisers Tax-Sensitive Short Duration Fu...	Municipal Bonds	97	1.02%	—	Dec 2017	SUMAX vs FGNSX
NPV	Nuveen Virginia Quality Municipal Income Fund	Municipal Bonds	28	6.53%	—	Mar 1993	SUMAX vs NPV
DNYMX	DFA NY Municipal Bond Portfolio	Municipal Bonds	99	1.29%	—	Jun 2015	SUMAX vs DNYMX
FMNDX	Fidelity Conservative Income Municipal Bond Fund I...	Municipal Bonds	99	1.24%	—	Oct 2013	SUMAX vs FMNDX
MQY	BlackRock MuniYield Quality Fund	Municipal Bonds	35	6.25%	—	Jul 1992	SUMAX vs MQY
NUV	Nuveen Municipal Value Fund Inc.	Municipal Bonds	64	4.10%	—	Apr 1987	SUMAX vs NUV
MUJ	BlackRock MuniHoldings New Jersey Quality Fund	Municipal Bonds	71	6.52%	—	Mar 1998	SUMAX vs MUJ

Compare SUMAX with Any Fund or Stock

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

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Diversifiers

Pair SUMAX with funds that move differently

SEI Tax Exempt Trust Short Duration Municipal Fund alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to SUMAX.

Explore SUMAX Diversifiers

SEI Tax Exempt Trust Short Duration Municipal Fund (SUMAX) Alternatives