LCIAX vs. CAVAX

Last updated Aug 4, 2026

LCIAX (SEI Institutional Investments Trust Large Cap Index Fund) and CAVAX (SEI Catholic Values Trust Catholic Values Equity Fund) are both Large Cap Blend Equities funds from SEI. Over the past 10 years, LCIAX returned 14.76%/yr vs 11.97%/yr for CAVAX. Their 0.96 correlation means they have historically moved very closely together. LCIAX charges 0.13%/yr vs 0.86%/yr for CAVAX.

Performance

LCIAX vs. CAVAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SEI Institutional Investments Trust Large Cap Index Fund (LCIAX) and SEI Catholic Values Trust Catholic Values Equity Fund (CAVAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with LCIAX having a 9.98% return and CAVAX slightly higher at 10.38%. Over the past 10 years, LCIAX has outperformed CAVAX with an annualized return of 14.76%, while CAVAX has yielded a comparatively lower 11.97% annualized return.

LCIAX

• 1D: 0.62%
• 1M: -0.10%
• 6M: 7.90%
• YTD: 9.98%
• 1Y: 21.05%
• 3Y*: 18.91%
• 5Y*: 11.95%
• 10Y*: 14.76%
• ALL TIME*: 10.17%

CAVAX

• 1D: 0.21%
• 1M: 2.30%
• 6M: 7.28%
• YTD: 10.38%
• 1Y: 20.16%
• 3Y*: 15.78%
• 5Y*: 8.96%
• 10Y*: 11.97%
• ALL TIME*: 11.84%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
CAVAX SEI Catholic Values Trust Catholic Values Equity Fund	$0.00	$0.00	$0.00
LCIAX SEI Institutional Investments Trust Large Cap Index Fund	$0.00	$0.00	$0.00

LCIAX vs. CAVAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
LCIAX SEI Institutional Investments Trust Large Cap Index Fund	9.98%	17.33%	23.90%	26.51%	-19.27%	26.29%	20.85%	31.37%	-5.10%	21.59%
CAVAX SEI Catholic Values Trust Catholic Values Equity Fund	10.38%	15.45%	16.72%	21.33%	-18.51%	20.57%	17.33%	26.63%	-10.24%	23.69%

Correlation

The correlation between LCIAX and CAVAX is 0.94, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.94
Correlation (3Y) Balances recent behavior with more history.	0.94
Correlation (5Y) Shows whether the relationship held over a longer period.	0.95
Correlation (10Y) Provides a long-term view across more market conditions.	0.96
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016	0.96

The correlation between LCIAX and CAVAX has been stable across timeframes, ranging from 0.94 to 0.96 - a consistent structural relationship.

Return for Risk

LCIAX vs. CAVAX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

LCIAX

LCIAX Risk / Return Rank: 55
LCIAX Sharpe Ratio Rank: 51
LCIAX Sortino Ratio Rank: 47
LCIAX Omega Ratio Rank: 47
LCIAX Calmar Ratio Rank: 59
LCIAX Martin Ratio Rank: 71

CAVAX

CAVAX Risk / Return Rank: 56
CAVAX Sharpe Ratio Rank: 53
CAVAX Sortino Ratio Rank: 52
CAVAX Omega Ratio Rank: 48
CAVAX Calmar Ratio Rank: 60
CAVAX Martin Ratio Rank: 68

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

LCIAX vs. CAVAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SEI Institutional Investments Trust Large Cap Index Fund (LCIAX) and SEI Catholic Values Trust Catholic Values Equity Fund (CAVAX). 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.

	LCIAX	CAVAX	Difference
Sharpe ratio: Return per unit of total volatility	1.49	1.50	-0.01
Sortino ratio: Return per unit of downside risk	2.08	2.13	-0.05
Omega ratio: Gain probability vs. loss probability	1.27	1.26	0.00
Calmar ratio: Return relative to maximum drawdown	2.18	2.20	-0.02
Martin ratio: Return relative to average drawdown	9.41	9.10	+0.30

LCIAX vs. CAVAX - Sharpe Ratio Comparison

The current LCIAX Sharpe Ratio is 1.49, which is comparable to the CAVAX Sharpe Ratio of 1.50. The chart below compares the historical Sharpe Ratios of LCIAX and CAVAX, 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

LCIAX vs. CAVAX - Drawdown Comparison

The maximum LCIAX drawdown since its inception was -57.93%, which is greater than CAVAX's maximum drawdown of -36.55%. Use the drawdown chart below to compare losses from any high point for LCIAX and CAVAX.

Drawdown Indicators

	LCIAX	CAVAX	Difference
Max Drawdown Largest peak-to-trough decline	-57.93%	-36.55%	-21.38%
Max Drawdown (1Y) Largest decline over 1 year	-8.81%	-8.49%	-0.32%
Max Drawdown (3Y) Largest decline over 3 years	-26.32%	-17.95%	-8.37%
Max Drawdown (5Y) Largest decline over 5 years	-26.32%	-26.51%	+0.19%
Max Drawdown (10Y) Largest decline over 10 years	-34.54%	-36.55%	+2.01%
Current Drawdown Current decline from peak	-1.27%	0.00%	-1.27%
Average Drawdown Average peak-to-trough decline	-9.81%	-5.00%	-4.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.04%	2.05%	-0.01%

Volatility

LCIAX vs. CAVAX - Volatility Comparison

SEI Institutional Investments Trust Large Cap Index Fund (LCIAX) and SEI Catholic Values Trust Catholic Values Equity Fund (CAVAX) have volatilities of 3.44% and 3.49%, 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

	LCIAX	CAVAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.44%	3.49%	-0.05%
Volatility (6M) Calculated over the trailing 6-month period	10.06%	9.66%	+0.40%
Volatility (1Y) Calculated over the trailing 1-year period	12.91%	12.47%	+0.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.24%	16.15%	+4.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.77%	17.31%	+2.46%

LCIAX vs. CAVAX - Expense Ratio Comparison

LCIAX has a 0.13% expense ratio, which is lower than CAVAX's 0.86% expense ratio.

Dividends

LCIAX vs. CAVAX - Dividend Comparison

LCIAX's dividend yield for the trailing twelve months is around 14.15%, more than CAVAX's 6.10% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CAVAX SEI Catholic Values Trust Catholic Values Equity Fund	6.10%	6.73%	7.01%	1.29%	3.67%	16.58%	2.98%	2.80%	5.66%	0.71%	0.99%	0.00%
LCIAX SEI Institutional Investments Trust Large Cap Index Fund	14.15%	15.51%	14.83%	13.13%	16.71%	9.30%	2.67%	18.94%	19.92%	4.15%	3.17%	5.35%

Frequently Asked Questions

Can I hold both LCIAX and CAVAX in my portfolio?

With a correlation of 0.94, LCIAX and CAVAX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, LCIAX or CAVAX?

CAVAX has higher volatility (3.49%) compared to LCIAX (3.44%). In terms of maximum drawdown, LCIAX dropped -57.93% vs CAVAX's -36.55%.

Which has better risk-adjusted returns?

CAVAX currently has the higher Sharpe Ratio (1.50 vs 1.49), 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.