FHLKX vs. SIFAX

Last updated Jun 25, 2026

FHLKX (Fidelity Health Savings Fund Class K) and SIFAX (SEI Institutional Managed Trust Multi-Asset Inflation Managed Fund) are both Diversified Portfolio funds. Over the past 5 years, FHLKX returned 4.11%/yr vs 5.36%/yr for SIFAX. At a 0.23 correlation, their price movements are largely independent. FHLKX charges 0.37%/yr vs 0.90%/yr for SIFAX.

Performance

FHLKX vs. SIFAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Health Savings Fund Class K (FHLKX) and SEI Institutional Managed Trust Multi-Asset Inflation Managed Fund (SIFAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FHLKX achieves a 6.04% return, which is significantly higher than SIFAX's 5.68% return.

FHLKX

• 1D: -0.85%
• 1M: 0.14%
• YTD: 6.04%
• 6M: 5.83%
• 1Y: 12.87%
• 3Y*: 10.07%
• 5Y*: 4.11%
• 10Y*: —

SIFAX

• 1D: 0.24%
• 1M: -2.79%
• YTD: 5.68%
• 6M: 5.82%
• 1Y: 9.25%
• 3Y*: 6.67%
• 5Y*: 5.36%
• 10Y*: 3.24%

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

FHLKX vs. SIFAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
FHLKX Fidelity Health Savings Fund Class K	6.04%	12.17%	7.06%	9.82%	-14.79%	5.50%	10.70%
SIFAX SEI Institutional Managed Trust Multi-Asset Inflation Managed Fund	5.68%	7.82%	4.08%	-1.74%	8.48%	10.83%	0.83%

Correlation

The correlation between FHLKX and SIFAX is -0.12, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.12
Correlation (3Y) Calculated over the trailing 3-year period	0.07
Correlation (5Y) Calculated over the trailing 5-year period	0.17
Correlation (All Time) Calculated using the full available price history since Mar 6, 2020	0.23

The correlation between FHLKX and SIFAX shifts across timeframes, from -0.12 (1 year) to 0.23 (all time), reflecting how their relationship changes across market environments.

Return for Risk

FHLKX vs. SIFAX — Risk / Return Rank

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

FHLKX

FHLKX Risk / Return Rank: 72
FHLKX Sharpe Ratio Rank: 69
FHLKX Sortino Ratio Rank: 68
FHLKX Omega Ratio Rank: 74
FHLKX Calmar Ratio Rank: 73
FHLKX Martin Ratio Rank: 78

SIFAX

SIFAX Risk / Return Rank: 38
SIFAX Sharpe Ratio Rank: 36
SIFAX Sortino Ratio Rank: 36
SIFAX Omega Ratio Rank: 36
SIFAX Calmar Ratio Rank: 34
SIFAX Martin Ratio Rank: 47

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.

FHLKX vs. SIFAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Health Savings Fund Class K (FHLKX) and SEI Institutional Managed Trust Multi-Asset Inflation Managed Fund (SIFAX). 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.

	FHLKX	SIFAX	Difference
Sharpe ratio: Return per unit of total volatility	2.15	1.56	+0.58
Sortino ratio: Return per unit of downside risk	3.05	2.26	+0.78
Omega ratio: Gain probability vs. loss probability	1.43	1.28	+0.14
Calmar ratio: Return relative to maximum drawdown	3.07	2.04	+1.03
Martin ratio: Return relative to average drawdown	13.12	9.03	+4.08

FHLKX vs. SIFAX - Sharpe Ratio Comparison

The current FHLKX Sharpe Ratio is 2.15, which is higher than the SIFAX Sharpe Ratio of 1.56. The chart below compares the historical Sharpe Ratios of FHLKX and SIFAX, 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

FHLKX vs. SIFAX - Drawdown Comparison

The maximum FHLKX drawdown since its inception was -19.09%, smaller than the maximum SIFAX drawdown of -23.62%. Use the drawdown chart below to compare losses from any high point for FHLKX and SIFAX.

Drawdown Indicators

	FHLKX	SIFAX	Difference
Max Drawdown Largest peak-to-trough decline	-19.09%	-23.62%	+4.53%
Max Drawdown (1Y) Largest decline over 1 year	-4.42%	-4.24%	-0.18%
Max Drawdown (3Y) Largest decline over 3 years	-6.64%	-4.24%	-2.40%
Max Drawdown (5Y) Largest decline over 5 years	-19.09%	-8.32%	-10.77%
Max Drawdown (10Y) Largest decline over 10 years	—	-14.69%	—
Current Drawdown Current decline from peak	-1.13%	-4.01%	+2.88%
Average Drawdown Average peak-to-trough decline	-4.78%	-8.53%	+3.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.03%	1.01%	+0.02%

Volatility

FHLKX vs. SIFAX - Volatility Comparison

Fidelity Health Savings Fund Class K (FHLKX) has a higher volatility of 2.74% compared to SEI Institutional Managed Trust Multi-Asset Inflation Managed Fund (SIFAX) at 1.62%. This indicates that FHLKX's price experiences larger fluctuations and is considered to be riskier than SIFAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FHLKX	SIFAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.74%	1.62%	+1.12%
Volatility (6M) Calculated over the trailing 6-month period	5.42%	4.76%	+0.66%
Volatility (1Y) Calculated over the trailing 1-year period	6.32%	5.55%	+0.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.83%	5.62%	+1.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.31%	5.23%	+2.08%

FHLKX vs. SIFAX - Expense Ratio Comparison

FHLKX has a 0.37% expense ratio, which is lower than SIFAX's 0.90% expense ratio.

Dividends

FHLKX vs. SIFAX - Dividend Comparison

FHLKX's dividend yield for the trailing twelve months is around 2.91%, less than SIFAX's 4.31% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FHLKX Fidelity Health Savings Fund Class K	2.91%	3.05%	3.01%	2.88%	3.85%	2.84%	1.73%	0.00%	0.00%	0.00%	0.00%	0.00%
SIFAX SEI Institutional Managed Trust Multi-Asset Inflation Managed Fund	4.31%	4.55%	3.25%	3.82%	11.90%	7.89%	1.45%	1.49%	1.90%	1.39%	1.15%	0.48%

Frequently Asked Questions

Can I hold both FHLKX and SIFAX in my portfolio?

FHLKX and SIFAX have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FHLKX or SIFAX?

FHLKX has higher volatility (2.74%) compared to SIFAX (1.62%). In terms of maximum drawdown, FHLKX dropped -19.09% vs SIFAX's -23.62%.

Which has better risk-adjusted returns?

FHLKX currently has the higher Sharpe Ratio (2.15 vs 1.56), 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.