GSFTX vs. TMMAX

Last updated Jun 26, 2026

GSFTX (Columbia Dividend Income Fund) and TMMAX (SEI Institutional Managed Trust Tax-Managed Managed Volatility Fund) are both Large Cap Value Equities funds. Over the past 10 years, GSFTX returned 12.77%/yr vs 9.99%/yr for TMMAX. Their correlation of 0.93 suggests significant overlap in exposure. GSFTX charges 0.66%/yr vs 1.00%/yr for TMMAX.

Performance

GSFTX vs. TMMAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Columbia Dividend Income Fund (GSFTX) 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, GSFTX achieves a 9.08% return, which is significantly higher than TMMAX's 3.34% return. Over the past 10 years, GSFTX has outperformed TMMAX with an annualized return of 12.77%, while TMMAX has yielded a comparatively lower 9.99% annualized return.

GSFTX

• 1D: -0.15%
• 1M: 0.66%
• YTD: 9.08%
• 6M: 7.95%
• 1Y: 20.43%
• 3Y*: 16.66%
• 5Y*: 10.90%
• 10Y*: 12.77%

TMMAX

• 1D: 0.32%
• 1M: -1.27%
• YTD: 3.34%
• 6M: 2.32%
• 1Y: 9.39%
• 3Y*: 12.07%
• 5Y*: 9.29%
• 10Y*: 9.99%

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

GSFTX vs. TMMAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GSFTX Columbia Dividend Income Fund	9.08%	15.88%	15.00%	10.57%	-4.94%	26.26%	7.75%	28.12%	-4.38%	20.16%
TMMAX SEI Institutional Managed Trust Tax-Managed Managed Volatility Fund	3.34%	11.03%	17.07%	7.32%	-3.11%	24.10%	1.32%	24.00%	-2.84%	15.19%

Correlation

The correlation between GSFTX and TMMAX is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.81
Correlation (3Y) Calculated over the trailing 3-year period	0.85
Correlation (5Y) Calculated over the trailing 5-year period	0.89
Correlation (10Y) Calculated over the trailing 10-year period	0.90
Correlation (All Time) Calculated using the full available price history since Dec 21, 2007	0.93

The correlation between GSFTX and TMMAX shifts across timeframes, from 0.81 (1 year) to 0.93 (all time), reflecting how their relationship changes across market environments.

Return for Risk

GSFTX vs. TMMAX — Risk / Return Rank

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

GSFTX

GSFTX Risk / Return Rank: 80
GSFTX Sharpe Ratio Rank: 78
GSFTX Sortino Ratio Rank: 78
GSFTX Omega Ratio Rank: 71
GSFTX Calmar Ratio Rank: 86
GSFTX Martin Ratio Rank: 85

TMMAX

TMMAX Risk / Return Rank: 20
TMMAX Sharpe Ratio Rank: 19
TMMAX Sortino Ratio Rank: 19
TMMAX Omega Ratio Rank: 17
TMMAX Calmar Ratio Rank: 23
TMMAX Martin Ratio Rank: 25

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.

GSFTX vs. TMMAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Columbia Dividend Income Fund (GSFTX) 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.

	GSFTX	TMMAX	Difference
Sharpe ratio: Return per unit of total volatility	2.19	1.00	+1.19
Sortino ratio: Return per unit of downside risk	3.16	1.47	+1.69
Omega ratio: Gain probability vs. loss probability	1.39	1.18	+0.21
Calmar ratio: Return relative to maximum drawdown	3.64	1.45	+2.19
Martin ratio: Return relative to average drawdown	13.72	4.93	+8.78

GSFTX vs. TMMAX - Sharpe Ratio Comparison

The current GSFTX Sharpe Ratio is 2.19, which is higher than the TMMAX Sharpe Ratio of 1.00. The chart below compares the historical Sharpe Ratios of GSFTX 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

GSFTX vs. TMMAX - Drawdown Comparison

The maximum GSFTX drawdown since its inception was -47.69%, which is greater than TMMAX's maximum drawdown of -41.50%. Use the drawdown chart below to compare losses from any high point for GSFTX and TMMAX.

Drawdown Indicators

	GSFTX	TMMAX	Difference
Max Drawdown Largest peak-to-trough decline	-47.69%	-41.50%	-6.19%
Max Drawdown (1Y) Largest decline over 1 year	-5.51%	-5.78%	+0.27%
Max Drawdown (3Y) Largest decline over 3 years	-13.01%	-23.00%	+9.99%
Max Drawdown (5Y) Largest decline over 5 years	-17.01%	-23.00%	+5.99%
Max Drawdown (10Y) Largest decline over 10 years	-32.76%	-33.41%	+0.65%
Current Drawdown Current decline from peak	-0.81%	-7.83%	+7.02%
Average Drawdown Average peak-to-trough decline	-6.36%	-5.57%	-0.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.46%	1.70%	-0.24%

Volatility

GSFTX vs. TMMAX - Volatility Comparison

Columbia Dividend Income Fund (GSFTX) and SEI Institutional Managed Trust Tax-Managed Managed Volatility Fund (TMMAX) have volatilities of 2.67% and 2.70%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GSFTX	TMMAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.67%	2.70%	-0.03%
Volatility (6M) Calculated over the trailing 6-month period	6.90%	6.21%	+0.69%
Volatility (1Y) Calculated over the trailing 1-year period	9.16%	8.37%	+0.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.25%	19.07%	-5.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.67%	17.81%	-2.14%

GSFTX vs. TMMAX - Expense Ratio Comparison

GSFTX has a 0.66% expense ratio, which is lower than TMMAX's 1.00% expense ratio.

Dividends

GSFTX vs. TMMAX - Dividend Comparison

GSFTX's dividend yield for the trailing twelve months is around 4.95%, less than TMMAX's 24.48% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GSFTX Columbia Dividend Income Fund	4.95%	5.35%	6.02%	4.96%	3.87%	2.87%	1.74%	2.90%	7.63%	4.00%	3.77%	8.27%
TMMAX SEI Institutional Managed Trust Tax-Managed Managed Volatility Fund	24.48%	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 GSFTX and TMMAX in my portfolio?

GSFTX and TMMAX have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GSFTX or TMMAX?

TMMAX has higher volatility (2.70%) compared to GSFTX (2.67%). In terms of maximum drawdown, GSFTX dropped -47.69% vs TMMAX's -41.50%.

Which has better risk-adjusted returns?

GSFTX currently has the higher Sharpe Ratio (2.19 vs 1.00), 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.