BRUHX vs. TMMAX

Last updated Aug 1, 2026

BRUHX (MFS Blended Research Value Equity Fund) and TMMAX (SEI Institutional Managed Trust Tax-Managed Managed Volatility Fund) are both mutual funds - BRUHX is a Large Cap Value Equities fund managed by MFS, while TMMAX is a Low Volatility fund managed by BlackRock. Over the past 10 years, BRUHX returned 12.09%/yr vs 9.93%/yr for TMMAX. Their correlation of 0.83 means they have usually moved in the same direction. BRUHX charges 0.49%/yr vs 1.00%/yr for TMMAX.

Performance

BRUHX vs. TMMAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MFS Blended Research Value Equity Fund (BRUHX) and SEI Institutional Managed Trust Tax-Managed Managed Volatility Fund (TMMAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BRUHX achieves a 21.20% return, which is significantly higher than TMMAX's 8.33% return. Over the past 10 years, BRUHX has outperformed TMMAX with an annualized return of 12.09%, while TMMAX has yielded a comparatively lower 9.93% annualized return.

BRUHX

• 1D: 0.37%
• 1M: 1.66%
• 6M: 15.24%
• YTD: 21.20%
• 1Y: 31.29%
• 3Y*: 18.36%
• 5Y*: 12.80%
• 10Y*: 12.09%
• ALL TIME*: 11.79%

TMMAX

• 1D: -1.22%
• 1M: 2.01%
• 6M: 5.67%
• YTD: 8.33%
• 1Y: 13.78%
• 3Y*: 13.06%
• 5Y*: 9.78%
• 10Y*: 9.93%
• ALL TIME*: 9.46%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BRUHX MFS Blended Research Value Equity Fund	$0.00	$0.00	$0.00
TMMAX SEI Institutional Managed Trust Tax-Managed Managed Volatility Fund	$0.00	$0.00	$0.00

BRUHX vs. TMMAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BRUHX MFS Blended Research Value Equity Fund	21.20%	15.45%	12.81%	14.59%	-4.15%	26.24%	1.68%	23.72%	-8.41%	15.23%
TMMAX SEI Institutional Managed Trust Tax-Managed Managed Volatility Fund	8.33%	11.03%	17.07%	7.32%	-3.11%	24.10%	1.32%	24.00%	-2.84%	15.19%

Correlation

The correlation between BRUHX and TMMAX is 0.63, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.63
Correlation (3Y) Balances recent behavior with more history.	0.76
Correlation (5Y) Shows whether the relationship held over a longer period.	0.82
Correlation (10Y) Provides a long-term view across more market conditions.	0.83
Correlation (All Time) Calculated using the full available price history since Sep 17, 2015	0.83

The correlation between BRUHX and TMMAX shifts across timeframes, from 0.63 (1 year) to 0.83 (all time), reflecting how their relationship changes across market environments.

Return for Risk

BRUHX vs. TMMAX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

BRUHX

BRUHX Risk / Return Rank: 93
BRUHX Sharpe Ratio Rank: 94
BRUHX Sortino Ratio Rank: 92
BRUHX Omega Ratio Rank: 87
BRUHX Calmar Ratio Rank: 95
BRUHX Martin Ratio Rank: 96

TMMAX

TMMAX Risk / Return Rank: 60
TMMAX Sharpe Ratio Rank: 57
TMMAX Sortino Ratio Rank: 63
TMMAX Omega Ratio Rank: 55
TMMAX Calmar Ratio Rank: 68
TMMAX Martin Ratio Rank: 58

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

BRUHX vs. TMMAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MFS Blended Research Value Equity Fund (BRUHX) and SEI Institutional Managed Trust Tax-Managed Managed Volatility Fund (TMMAX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	BRUHX	TMMAX	Difference
Sharpe ratio: Return per unit of total volatility	2.51	1.44	+1.07
Sortino ratio: Return per unit of downside risk	3.56	2.18	+1.38
Omega ratio: Gain probability vs. loss probability	1.45	1.26	+0.19
Calmar ratio: Return relative to maximum drawdown	4.31	2.22	+2.08
Martin ratio: Return relative to average drawdown	17.50	7.56	+9.94

BRUHX vs. TMMAX - Sharpe Ratio Comparison

The current BRUHX Sharpe Ratio is 2.51, which is higher than the TMMAX Sharpe Ratio of 1.44. The chart below compares the historical Sharpe Ratios of BRUHX and TMMAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BRUHX vs. TMMAX - Drawdown Comparison

The maximum BRUHX drawdown since its inception was -38.77%, smaller than the maximum TMMAX drawdown of -41.50%. Use the drawdown chart below to compare losses from any high point for BRUHX and TMMAX.

Drawdown Indicators

	BRUHX	TMMAX	Difference
Max Drawdown Largest peak-to-trough decline	-38.77%	-41.50%	+2.73%
Max Drawdown (1Y) Largest decline over 1 year	-6.69%	-5.78%	-0.91%
Max Drawdown (3Y) Largest decline over 3 years	-20.49%	-23.00%	+2.51%
Max Drawdown (5Y) Largest decline over 5 years	-20.49%	-23.00%	+2.51%
Max Drawdown (10Y) Largest decline over 10 years	-38.77%	-33.41%	-5.36%
Current Drawdown Current decline from peak	-0.68%	-3.38%	+2.70%
Average Drawdown Average peak-to-trough decline	-4.21%	-5.57%	+1.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.65%	1.69%	-0.04%

Volatility

BRUHX vs. TMMAX - Volatility Comparison

The current volatility for MFS Blended Research Value Equity Fund (BRUHX) is 2.33%, while SEI Institutional Managed Trust Tax-Managed Managed Volatility Fund (TMMAX) has a volatility of 3.98%. This indicates that BRUHX experiences smaller price fluctuations and is considered to be less risky than TMMAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BRUHX	TMMAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.33%	3.98%	-1.65%
Volatility (6M) Calculated over the trailing 6-month period	8.67%	7.18%	+1.49%
Volatility (1Y) Calculated over the trailing 1-year period	11.50%	8.95%	+2.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.13%	19.13%	-3.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.97%	17.83%	+0.14%

BRUHX vs. TMMAX - Expense Ratio Comparison

BRUHX has a 0.49% expense ratio, which is lower than TMMAX's 1.00% expense ratio.

Dividends

BRUHX vs. TMMAX - Dividend Comparison

BRUHX's dividend yield for the trailing twelve months is around 10.02%, less than TMMAX's 23.27% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BRUHX MFS Blended Research Value Equity Fund	10.02%	12.14%	11.32%	3.61%	8.44%	12.82%	1.85%	2.40%	5.04%	2.26%	0.71%	0.96%
TMMAX SEI Institutional Managed Trust Tax-Managed Managed Volatility Fund	23.27%	25.19%	23.39%	15.23%	6.54%	4.73%	2.15%	3.67%	4.91%	4.10%	4.17%	5.57%

Frequently Asked Questions

Can I hold both BRUHX and TMMAX in my portfolio?

BRUHX and TMMAX have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BRUHX or TMMAX?

TMMAX has higher volatility (3.98%) compared to BRUHX (2.33%). In terms of maximum drawdown, BRUHX dropped -38.77% vs TMMAX's -41.50%.

Which has better risk-adjusted returns?

BRUHX currently has the higher Sharpe Ratio (2.51 vs 1.44), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.