CFVAX vs. SBDAX

Last updated Jun 5, 2026

CFVAX (SEI Catholic Values Trust Catholic Values Fixed Income Fund) and SBDAX (SEI Tax Exempt Trust California Municipal Bond Fund) are both mutual funds - CFVAX is a Intermediate Core-Plus Bond fund managed by SEI, while SBDAX is a Municipal Bonds fund managed by SEI. Over the past 10 years, CFVAX returned 0.82%/yr vs 1.23%/yr for SBDAX. A 0.51 correlation means they provide meaningful diversification when combined. CFVAX charges 0.71%/yr vs 0.60%/yr for SBDAX.

Performance

CFVAX vs. SBDAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SEI Catholic Values Trust Catholic Values Fixed Income Fund (CFVAX) and SEI Tax Exempt Trust California Municipal Bond Fund (SBDAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CFVAX achieves a 0.05% return, which is significantly lower than SBDAX's 0.18% return. Over the past 10 years, CFVAX has underperformed SBDAX with an annualized return of 0.82%, while SBDAX has yielded a comparatively higher 1.23% annualized return.

CFVAX

• 1D: -0.23%
• 1M: 0.10%
• YTD: 0.05%
• 6M: 0.14%
• 1Y: 4.21%
• 3Y*: 2.86%
• 5Y*: -1.25%
• 10Y*: 0.82%

SBDAX

• 1D: 0.00%
• 1M: 0.39%
• YTD: 0.18%
• 6M: 0.46%
• 1Y: 5.47%
• 3Y*: 3.04%
• 5Y*: 0.36%
• 10Y*: 1.23%

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

CFVAX vs. SBDAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CFVAX SEI Catholic Values Trust Catholic Values Fixed Income Fund	0.05%	6.89%	-0.30%	4.27%	-15.80%	-2.01%	8.02%	8.87%	-0.82%	3.33%
SBDAX SEI Tax Exempt Trust California Municipal Bond Fund	0.18%	5.70%	0.02%	4.02%	-7.30%	-0.55%	3.76%	5.90%	0.87%	3.74%

Correlation

The correlation between CFVAX and SBDAX is 0.57, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.57
Correlation (3Y) Calculated over the trailing 3-year period	0.62
Correlation (5Y) Calculated over the trailing 5-year period	0.55
Correlation (10Y) Calculated over the trailing 10-year period	0.52
Correlation (All Time) Calculated using the full available price history since Jan 5, 2016	0.51

The correlation between CFVAX and SBDAX shifts across timeframes, from 0.51 (all time) to 0.62 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

CFVAX vs. SBDAX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CFVAX

CFVAX Risk / Return Rank: 18
CFVAX Sharpe Ratio Rank: 18
CFVAX Sortino Ratio Rank: 18
CFVAX Omega Ratio Rank: 17
CFVAX Calmar Ratio Rank: 18
CFVAX Martin Ratio Rank: 17

SBDAX

SBDAX Risk / Return Rank: 54
SBDAX Sharpe Ratio Rank: 74
SBDAX Sortino Ratio Rank: 71
SBDAX Omega Ratio Rank: 87
SBDAX Calmar Ratio Rank: 22
SBDAX Martin Ratio Rank: 18

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CFVAX vs. SBDAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SEI Catholic Values Trust Catholic Values Fixed Income Fund (CFVAX) and SEI Tax Exempt Trust California Municipal Bond Fund (SBDAX). 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.

	CFVAX	SBDAX	Difference
Sharpe ratio: Return per unit of total volatility	1.18	2.48	-1.29
Sortino ratio: Return per unit of downside risk	1.75	3.48	-1.73
Omega ratio: Gain probability vs. loss probability	1.21	1.62	-0.41
Calmar ratio: Return relative to maximum drawdown	1.50	1.68	-0.17
Martin ratio: Return relative to average drawdown	4.47	4.77	-0.31
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CFVAX vs. SBDAX - Sharpe Ratio Comparison

The current CFVAX Sharpe Ratio is 1.18, which is lower than the SBDAX Sharpe Ratio of 2.48. The chart below compares the historical Sharpe Ratios of CFVAX and SBDAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	CFVAX	SBDAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.18	2.48	-1.29
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.20	0.11	-0.31
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.16	0.35	-0.19
Sharpe Ratio (All Time) Calculated using the full available price history	0.21	0.98	-0.77

Drawdowns

CFVAX vs. SBDAX - Drawdown Comparison

The maximum CFVAX drawdown since its inception was -21.41%, which is greater than SBDAX's maximum drawdown of -11.86%. Use the drawdown chart below to compare losses from any high point for CFVAX and SBDAX.

Drawdown Indicators

	CFVAX	SBDAX	Difference
Max Drawdown Largest peak-to-trough decline	-21.41%	-11.86%	-9.55%
Max Drawdown (1Y) Largest decline over 1 year	-3.22%	-3.40%	+0.18%
Max Drawdown (3Y) Largest decline over 3 years	-7.52%	-4.47%	-3.05%
Max Drawdown (5Y) Largest decline over 5 years	-21.12%	-11.86%	-9.26%
Max Drawdown (10Y) Largest decline over 10 years	-21.41%	-11.86%	-9.55%
Current Drawdown Current decline from peak	-8.27%	-1.88%	-6.39%
Average Drawdown Average peak-to-trough decline	-6.35%	-1.87%	-4.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.08%	1.19%	-0.11%

Volatility

CFVAX vs. SBDAX - Volatility Comparison

SEI Catholic Values Trust Catholic Values Fixed Income Fund (CFVAX) has a higher volatility of 1.44% compared to SEI Tax Exempt Trust California Municipal Bond Fund (SBDAX) at 0.81%. This indicates that CFVAX's price experiences larger fluctuations and is considered to be riskier than SBDAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CFVAX	SBDAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.44%	0.81%	+0.63%
Volatility (6M) Calculated over the trailing 6-month period	2.89%	1.87%	+1.02%
Volatility (1Y) Calculated over the trailing 1-year period	4.08%	2.30%	+1.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.40%	3.19%	+3.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.27%	3.56%	+1.71%

CFVAX vs. SBDAX - Expense Ratio Comparison

CFVAX has a 0.71% expense ratio, which is higher than SBDAX's 0.60% expense ratio.

Dividends

CFVAX vs. SBDAX - Dividend Comparison

CFVAX's dividend yield for the trailing twelve months is around 3.81%, more than SBDAX's 2.17% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CFVAX SEI Catholic Values Trust Catholic Values Fixed Income Fund	3.81%	3.73%	2.63%	1.62%	1.41%	1.70%	3.91%	2.97%	2.42%	1.66%	0.33%	0.00%
SBDAX SEI Tax Exempt Trust California Municipal Bond Fund	2.17%	2.74%	1.78%	1.26%	1.38%	1.35%	1.87%	2.21%	1.98%	1.99%	2.23%	2.79%

Frequently Asked Questions

Can I hold both CFVAX and SBDAX in my portfolio?

CFVAX and SBDAX have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CFVAX or SBDAX?

CFVAX has higher volatility (1.44%) compared to SBDAX (0.81%). In terms of maximum drawdown, CFVAX dropped -21.41% vs SBDAX's -11.86%.

Which has better risk-adjusted returns?

SBDAX currently has the higher Sharpe Ratio (2.48 vs 1.18), 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.