DOXGX vs. TMMAX

Last updated Jun 24, 2026

DOXGX (Dodge & Cox Stock Fund) and TMMAX (SEI Institutional Managed Trust Tax-Managed Managed Volatility Fund) are both Large Cap Value Equities funds. Over the past 3 years, DOXGX returned 14.72%/yr vs 11.54%/yr for TMMAX. A 0.80 correlation means they provide meaningful diversification when combined. DOXGX charges 0.41%/yr vs 1.00%/yr for TMMAX.

Performance

DOXGX vs. TMMAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dodge & Cox Stock Fund (DOXGX) 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, DOXGX achieves a 2.71% return, which is significantly higher than TMMAX's 1.88% return.

DOXGX

• 1D: -0.24%
• 1M: -1.00%
• YTD: 2.71%
• 6M: 2.22%
• 1Y: 11.13%
• 3Y*: 14.72%
• 5Y*: —
• 10Y*: —

TMMAX

• 1D: -0.26%
• 1M: -3.35%
• YTD: 1.88%
• 6M: 1.20%
• 1Y: 7.24%
• 3Y*: 11.54%
• 5Y*: 9.25%
• 10Y*: 9.84%

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

DOXGX vs. TMMAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
DOXGX Dodge & Cox Stock Fund	2.71%	13.77%	14.47%	17.60%	-2.46%
TMMAX SEI Institutional Managed Trust Tax-Managed Managed Volatility Fund	1.88%	11.03%	17.07%	7.32%	1.10%

Correlation

The correlation between DOXGX and TMMAX is 0.79, 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	0.79
Correlation (3Y) Calculated over the trailing 3-year period	0.78
Correlation (All Time) Calculated using the full available price history since May 3, 2022	0.80

The correlation between DOXGX and TMMAX has been stable across timeframes, ranging from 0.78 to 0.80 - a consistent structural relationship.

Return for Risk

DOXGX vs. TMMAX — Risk / Return Rank

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

DOXGX

DOXGX Risk / Return Rank: 18
DOXGX Sharpe Ratio Rank: 15
DOXGX Sortino Ratio Rank: 15
DOXGX Omega Ratio Rank: 14
DOXGX Calmar Ratio Rank: 20
DOXGX Martin Ratio Rank: 24

TMMAX

TMMAX Risk / Return Rank: 16
TMMAX Sharpe Ratio Rank: 14
TMMAX Sortino Ratio Rank: 14
TMMAX Omega Ratio Rank: 13
TMMAX Calmar Ratio Rank: 18
TMMAX Martin Ratio Rank: 21

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.

DOXGX vs. TMMAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dodge & Cox Stock Fund (DOXGX) 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.

	DOXGX	TMMAX	Difference
Sharpe ratio: Return per unit of total volatility	1.01	0.99	+0.02
Sortino ratio: Return per unit of downside risk	1.48	1.45	+0.03
Omega ratio: Gain probability vs. loss probability	1.18	1.17	+0.01
Calmar ratio: Return relative to maximum drawdown	1.54	1.43	+0.11
Martin ratio: Return relative to average drawdown	5.40	4.88	+0.53

DOXGX vs. TMMAX - Sharpe Ratio Comparison

The current DOXGX Sharpe Ratio is 1.01, which is comparable to the TMMAX Sharpe Ratio of 0.99. The chart below compares the historical Sharpe Ratios of DOXGX 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

DOXGX vs. TMMAX - Drawdown Comparison

The maximum DOXGX drawdown since its inception was -16.47%, smaller than the maximum TMMAX drawdown of -41.50%. Use the drawdown chart below to compare losses from any high point for DOXGX and TMMAX.

Drawdown Indicators

	DOXGX	TMMAX	Difference
Max Drawdown Largest peak-to-trough decline	-16.47%	-41.50%	+25.03%
Max Drawdown (1Y) Largest decline over 1 year	-7.51%	-5.78%	-1.73%
Max Drawdown (3Y) Largest decline over 3 years	-14.88%	-23.00%	+8.12%
Max Drawdown (5Y) Largest decline over 5 years	—	-23.00%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.41%	—
Current Drawdown Current decline from peak	-2.21%	-9.14%	+6.93%
Average Drawdown Average peak-to-trough decline	-3.12%	-5.57%	+2.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.14%	1.69%	+0.45%

Volatility

DOXGX vs. TMMAX - Volatility Comparison

Dodge & Cox Stock Fund (DOXGX) has a higher volatility of 3.79% compared to SEI Institutional Managed Trust Tax-Managed Managed Volatility Fund (TMMAX) at 2.57%. This indicates that DOXGX's price experiences larger fluctuations and is considered to be riskier than TMMAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DOXGX	TMMAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.79%	2.57%	+1.22%
Volatility (6M) Calculated over the trailing 6-month period	8.48%	6.11%	+2.37%
Volatility (1Y) Calculated over the trailing 1-year period	11.50%	8.36%	+3.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.70%	19.07%	-3.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.70%	17.82%	-2.12%

DOXGX vs. TMMAX - Expense Ratio Comparison

DOXGX has a 0.41% expense ratio, which is lower than TMMAX's 1.00% expense ratio.

Dividends

DOXGX vs. TMMAX - Dividend Comparison

DOXGX's dividend yield for the trailing twelve months is around 9.57%, less than TMMAX's 24.83% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DOXGX Dodge & Cox Stock Fund	9.57%	9.96%	8.30%	3.86%	4.50%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TMMAX SEI Institutional Managed Trust Tax-Managed Managed Volatility Fund	24.83%	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 DOXGX and TMMAX in my portfolio?

DOXGX and TMMAX have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DOXGX or TMMAX?

DOXGX has higher volatility (3.79%) compared to TMMAX (2.57%). In terms of maximum drawdown, DOXGX dropped -16.47% vs TMMAX's -41.50%.

Which has better risk-adjusted returns?

DOXGX currently has the higher Sharpe Ratio (1.01 vs 0.99), 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.