ENIAX vs. SEIMX

Last updated Jun 4, 2026

ENIAX (SEI Institutional Investments Trust Opportunistic Income Fund) and SEIMX (SEI Tax Exempt Trust Intermediate-Term Municipal Fund) are both mutual funds - ENIAX is a Ultrashort Bond fund managed by SEI, while SEIMX is a Municipal Bonds fund managed by SEI. Over the past 10 years, ENIAX returned 4.17%/yr vs 1.92%/yr for SEIMX. At a 0.05 correlation, their price movements are largely independent. ENIAX charges 0.23%/yr vs 0.63%/yr for SEIMX.

Performance

ENIAX vs. SEIMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SEI Institutional Investments Trust Opportunistic Income Fund (ENIAX) and SEI Tax Exempt Trust Intermediate-Term Municipal Fund (SEIMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ENIAX achieves a 1.52% return, which is significantly higher than SEIMX's 1.27% return. Over the past 10 years, ENIAX has outperformed SEIMX with an annualized return of 4.17%, while SEIMX has yielded a comparatively lower 1.92% annualized return.

ENIAX

• 1D: 0.00%
• 1M: 0.38%
• YTD: 1.52%
• 6M: 1.93%
• 1Y: 5.28%
• 3Y*: 6.69%
• 5Y*: 4.69%
• 10Y*: 4.17%

SEIMX

• 1D: 0.09%
• 1M: 0.54%
• YTD: 1.27%
• 6M: 1.63%
• 1Y: 6.13%
• 3Y*: 3.69%
• 5Y*: 0.75%
• 10Y*: 1.92%

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

ENIAX vs. SEIMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ENIAX SEI Institutional Investments Trust Opportunistic Income Fund	1.52%	6.14%	8.34%	7.94%	-1.16%	2.67%	2.47%	5.82%	1.82%	3.93%
SEIMX SEI Tax Exempt Trust Intermediate-Term Municipal Fund	1.27%	5.10%	1.52%	5.02%	-8.87%	1.39%	4.87%	7.17%	0.70%	4.62%

Correlation

The correlation between ENIAX and SEIMX is 0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.06
Correlation (3Y) Calculated over the trailing 3-year period	0.17
Correlation (5Y) Calculated over the trailing 5-year period	0.21
Correlation (10Y) Calculated over the trailing 10-year period	0.13
Correlation (All Time) Calculated using the full available price history since Sep 5, 2007	0.05

The correlation between ENIAX and SEIMX shifts across timeframes, from 0.05 (all time) to 0.21 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

ENIAX vs. SEIMX — Risk / Return Rank

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

ENIAX

ENIAX Risk / Return Rank: 100
ENIAX Sharpe Ratio Rank: 100
ENIAX Sortino Ratio Rank: 100
ENIAX Omega Ratio Rank: 99
ENIAX Calmar Ratio Rank: 99
ENIAX Martin Ratio Rank: 100

SEIMX

SEIMX Risk / Return Rank: 67
SEIMX Sharpe Ratio Rank: 85
SEIMX Sortino Ratio Rank: 89
SEIMX Omega Ratio Rank: 94
SEIMX Calmar Ratio Rank: 33
SEIMX Martin Ratio Rank: 32

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.

ENIAX vs. SEIMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SEI Institutional Investments Trust Opportunistic Income Fund (ENIAX) and SEI Tax Exempt Trust Intermediate-Term Municipal Fund (SEIMX). 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.

	ENIAX	SEIMX	Difference
Sharpe ratio: Return per unit of total volatility	5.58	2.76	+2.82
Sortino ratio: Return per unit of downside risk	11.95	4.30	+7.65
Omega ratio: Gain probability vs. loss probability	4.44	1.75	+2.70
Calmar ratio: Return relative to maximum drawdown	14.18	2.18	+11.99
Martin ratio: Return relative to average drawdown	87.74	7.31	+80.43
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ENIAX vs. SEIMX - Sharpe Ratio Comparison

The current ENIAX Sharpe Ratio is 5.58, which is higher than the SEIMX Sharpe Ratio of 2.76. The chart below compares the historical Sharpe Ratios of ENIAX and SEIMX, 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

	ENIAX	SEIMX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	5.58	2.76	+2.82
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.65	0.23	+1.42
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.50	0.53	+0.97
Sharpe Ratio (All Time) Calculated using the full available price history	0.67	1.40	-0.73

Drawdowns

ENIAX vs. SEIMX - Drawdown Comparison

The maximum ENIAX drawdown since its inception was -33.30%, which is greater than SEIMX's maximum drawdown of -13.27%. Use the drawdown chart below to compare losses from any high point for ENIAX and SEIMX.

Drawdown Indicators

	ENIAX	SEIMX	Difference
Max Drawdown Largest peak-to-trough decline	-33.30%	-13.27%	-20.03%
Max Drawdown (1Y) Largest decline over 1 year	-0.37%	-2.82%	+2.45%
Max Drawdown (3Y) Largest decline over 3 years	-2.11%	-4.75%	+2.64%
Max Drawdown (5Y) Largest decline over 5 years	-3.52%	-13.27%	+9.75%
Max Drawdown (10Y) Largest decline over 10 years	-13.45%	-13.27%	-0.18%
Current Drawdown Current decline from peak	0.00%	-0.80%	+0.80%
Average Drawdown Average peak-to-trough decline	-7.79%	-1.49%	-6.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.06%	0.84%	-0.78%

Volatility

ENIAX vs. SEIMX - Volatility Comparison

The current volatility for SEI Institutional Investments Trust Opportunistic Income Fund (ENIAX) is 0.23%, while SEI Tax Exempt Trust Intermediate-Term Municipal Fund (SEIMX) has a volatility of 0.85%. This indicates that ENIAX experiences smaller price fluctuations and is considered to be less risky than SEIMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ENIAX	SEIMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.23%	0.85%	-0.62%
Volatility (6M) Calculated over the trailing 6-month period	0.69%	1.76%	-1.07%
Volatility (1Y) Calculated over the trailing 1-year period	0.95%	2.24%	-1.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.86%	3.26%	-0.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.79%	3.64%	-0.85%

ENIAX vs. SEIMX - Expense Ratio Comparison

ENIAX has a 0.23% expense ratio, which is lower than SEIMX's 0.63% expense ratio.

Dividends

ENIAX vs. SEIMX - Dividend Comparison

ENIAX's dividend yield for the trailing twelve months is around 5.93%, more than SEIMX's 3.02% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ENIAX SEI Institutional Investments Trust Opportunistic Income Fund	5.93%	6.00%	6.78%	5.33%	4.07%	2.66%	2.96%	4.32%	3.96%	3.02%	2.75%	2.54%
SEIMX SEI Tax Exempt Trust Intermediate-Term Municipal Fund	3.02%	3.93%	2.60%	2.13%	1.79%	2.13%	2.39%	2.71%	2.60%	2.43%	2.49%	2.51%

Frequently Asked Questions

Can I hold both ENIAX and SEIMX in my portfolio?

ENIAX and SEIMX have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ENIAX or SEIMX?

SEIMX has higher volatility (0.85%) compared to ENIAX (0.23%). In terms of maximum drawdown, ENIAX dropped -33.30% vs SEIMX's -13.27%.

Which has better risk-adjusted returns?

ENIAX currently has the higher Sharpe Ratio (5.58 vs 2.76), 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.