MIIAX vs. SCOAX
MIIAX (Praxis Impact Bond Fund) and SCOAX (SEI Institutional Investments Trust Core Fixed Income Fund) are both Intermediate Core Bond funds. Over the past 10 years, MIIAX returned 1.08%/yr vs 1.61%/yr for SCOAX. Their correlation of 0.92 means they have usually moved in the same direction. MIIAX charges 0.88%/yr vs 0.36%/yr for SCOAX.
Performance
MIIAX vs. SCOAX - Performance Comparison
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Returns By Period
In the year-to-date period, MIIAX achieves a -0.56% return, which is significantly higher than SCOAX's -0.72% return. Over the past 10 years, MIIAX has underperformed SCOAX with an annualized return of 1.08%, while SCOAX has yielded a comparatively higher 1.61% annualized return.
MIIAX
- 1D
- 0.00%
- 1M
- -1.06%
- 6M
- -0.83%
- YTD
- -0.56%
- 1Y
- 1.83%
- 3Y*
- 3.50%
- 5Y*
- -0.64%
- 10Y*
- 1.08%
- ALL TIME*
- 3.22%
SCOAX
- 1D
- 0.11%
- 1M
- -1.25%
- 6M
- -0.96%
- YTD
- -0.72%
- 1Y
- 1.84%
- 3Y*
- 3.43%
- 5Y*
- -0.86%
- 10Y*
- 1.61%
- ALL TIME*
- 1.10%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
MIIAX vs. SCOAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MIIAX Praxis Impact Bond Fund | -0.56% | 6.82% | 1.17% | 5.32% | -13.09% | -2.22% | 7.45% | 7.75% | -0.36% | 3.11% |
SCOAX SEI Institutional Investments Trust Core Fixed Income Fund | -0.72% | 7.56% | 0.82% | 5.44% | -14.84% | -1.49% | 9.49% | 9.59% | 0.11% | 5.07% |
Correlation
The correlation between MIIAX and SCOAX is 0.90, 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. | 0.90 |
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. | 0.93 |
Correlation (All Time) Calculated using the full available price history since May 12, 1999 | 0.92 |
The correlation between MIIAX and SCOAX has been stable across timeframes, ranging from 0.90 to 0.95 - a consistent structural relationship.
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Return for Risk
MIIAX vs. SCOAX — Risk / Return Rank
MIIAX
SCOAX
MIIAX vs. SCOAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Praxis Impact Bond Fund (MIIAX) and SEI Institutional Investments Trust Core Fixed Income Fund (SCOAX). 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.
| MIIAX | SCOAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.07 | ||
| Sortino ratioReturn per unit of downside risk | -0.14 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.14 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 0.91 | 1.03 | -0.13 |
| Martin ratioReturn relative to average drawdown | 2.25 | 2.52 | -0.27 |
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Drawdowns
MIIAX vs. SCOAX - Drawdown Comparison
The maximum MIIAX drawdown since its inception was -18.76%, smaller than the maximum SCOAX drawdown of -20.12%. Use the drawdown chart below to compare losses from any high point for MIIAX and SCOAX.
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Drawdown Indicators
| MIIAX | SCOAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.76% | -20.12% | +1.36% |
Max Drawdown (1Y)Largest decline over 1 year | -3.06% | -3.06% | 0.00% |
Max Drawdown (3Y)Largest decline over 3 years | -5.12% | -5.95% | +0.83% |
Max Drawdown (5Y)Largest decline over 5 years | -18.22% | -19.90% | +1.68% |
Max Drawdown (10Y)Largest decline over 10 years | -18.76% | -20.12% | +1.36% |
Current DrawdownCurrent decline from peak | -4.09% | -4.77% | +0.68% |
Average DrawdownAverage peak-to-trough decline | -2.54% | -5.45% | +2.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.23% | 1.25% | -0.02% |
Volatility
MIIAX vs. SCOAX - Volatility Comparison
Praxis Impact Bond Fund (MIIAX) has a higher volatility of 1.10% compared to SEI Institutional Investments Trust Core Fixed Income Fund (SCOAX) at 0.93%. This indicates that MIIAX's price experiences larger fluctuations and is considered to be riskier than SCOAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MIIAX | SCOAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.10% | 0.93% | +0.17% |
Volatility (6M)Calculated over the trailing 6-month period | 2.97% | 3.06% | -0.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.77% | 3.93% | -0.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.85% | 6.37% | -0.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.74% | 5.23% | -0.49% |
MIIAX vs. SCOAX - Expense Ratio Comparison
MIIAX has a 0.88% expense ratio, which is higher than SCOAX's 0.36% expense ratio.
Dividends
MIIAX vs. SCOAX - Dividend Comparison
MIIAX's dividend yield for the trailing twelve months is around 3.15%, less than SCOAX's 3.96% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MIIAX Praxis Impact Bond Fund | 3.15% | 3.28% | 3.12% | 2.35% | 2.02% | 1.50% | 2.42% | 2.15% | 2.27% | 2.19% | 2.35% | 2.55% |
SCOAX SEI Institutional Investments Trust Core Fixed Income Fund | 3.96% | 4.19% | 3.57% | 2.98% | 2.11% | 1.69% | 6.04% | 4.24% | 3.16% | 3.67% | 3.79% | 4.73% |
Frequently Asked Questions
With a correlation of 0.90, MIIAX and SCOAX 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.
MIIAX has higher volatility (1.10%) compared to SCOAX (0.93%). In terms of maximum drawdown, MIIAX dropped -18.76% vs SCOAX's -20.12%.
SCOAX currently has the higher Sharpe Ratio (0.81 vs 0.74), 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.
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