PBAIX vs. SAAAX
PBAIX (BlackRock Tactical Opportunities Fund Institutional Class) and SAAAX (SEI Institutional Managed Trust Multi-Asset Accumulation Fund) are both Tactical Allocation funds from BlackRock. Over the past 10 years, PBAIX returned 6.10%/yr vs 4.51%/yr for SAAAX. At a 0.14 correlation, their price movements are largely independent. PBAIX charges 0.77%/yr vs 1.17%/yr for SAAAX.
Performance
PBAIX vs. SAAAX - Performance Comparison
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Returns By Period
In the year-to-date period, PBAIX achieves a 9.80% return, which is significantly lower than SAAAX's 11.79% return. Over the past 10 years, PBAIX has outperformed SAAAX with an annualized return of 6.10%, while SAAAX has yielded a comparatively lower 4.51% annualized return.
PBAIX
- 1D
- -0.40%
- 1M
- 0.93%
- YTD
- 9.80%
- 6M
- 10.64%
- 1Y
- 12.87%
- 3Y*
- 10.20%
- 5Y*
- 7.19%
- 10Y*
- 6.10%
SAAAX
- 1D
- 0.47%
- 1M
- 2.37%
- YTD
- 11.79%
- 6M
- 11.05%
- 1Y
- 23.39%
- 3Y*
- 10.25%
- 5Y*
- 1.65%
- 10Y*
- 4.51%
PBAIX vs. SAAAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PBAIX BlackRock Tactical Opportunities Fund Institutional Class | 9.80% | 6.46% | 12.08% | 2.64% | 6.14% | 0.50% | 6.91% | 1.65% | 4.68% | 8.05% |
SAAAX SEI Institutional Managed Trust Multi-Asset Accumulation Fund | 11.79% | 12.09% | 3.65% | 6.58% | -20.83% | 3.18% | 6.69% | 22.11% | -7.45% | 13.09% |
Correlation
The correlation between PBAIX and SAAAX is -0.16, 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 | -0.16 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.05 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.02 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.02 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2013 | 0.14 |
The correlation between PBAIX and SAAAX shifts across timeframes, from -0.16 (1 year) to 0.14 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
PBAIX vs. SAAAX — Risk / Return Rank
PBAIX
SAAAX
PBAIX vs. SAAAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BlackRock Tactical Opportunities Fund Institutional Class (PBAIX) and SEI Institutional Managed Trust Multi-Asset Accumulation Fund (SAAAX). 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.
| PBAIX | SAAAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.36 | ||
| Sortino ratioReturn per unit of downside risk | -0.21 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.48 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 4.41 | 3.34 | +1.07 |
| Martin ratioReturn relative to average drawdown | 10.85 | 13.89 | -3.04 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| PBAIX | SAAAX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.30 | 2.65 | -0.36 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.12 | 0.17 | +0.95 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.00 | 0.50 | +0.50 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.58 | 0.48 | +0.10 |
Drawdowns
PBAIX vs. SAAAX - Drawdown Comparison
The maximum PBAIX drawdown since its inception was -39.26%, which is greater than SAAAX's maximum drawdown of -29.23%. Use the drawdown chart below to compare losses from any high point for PBAIX and SAAAX.
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Drawdown Indicators
| PBAIX | SAAAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.26% | -29.23% | -10.03% |
Max Drawdown (1Y)Largest decline over 1 year | -2.99% | -7.14% | +4.15% |
Max Drawdown (3Y)Largest decline over 3 years | -6.79% | -10.60% | +3.81% |
Max Drawdown (5Y)Largest decline over 5 years | -6.79% | -29.23% | +22.44% |
Max Drawdown (10Y)Largest decline over 10 years | -8.94% | -29.23% | +20.29% |
Current DrawdownCurrent decline from peak | -0.46% | 0.00% | -0.46% |
Average DrawdownAverage peak-to-trough decline | -4.30% | -8.44% | +4.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.21% | 1.71% | -0.50% |
Volatility
PBAIX vs. SAAAX - Volatility Comparison
The current volatility for BlackRock Tactical Opportunities Fund Institutional Class (PBAIX) is 1.71%, while SEI Institutional Managed Trust Multi-Asset Accumulation Fund (SAAAX) has a volatility of 2.82%. This indicates that PBAIX experiences smaller price fluctuations and is considered to be less risky than SAAAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PBAIX | SAAAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.71% | 2.82% | -1.11% |
Volatility (6M)Calculated over the trailing 6-month period | 4.79% | 7.38% | -2.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.75% | 8.99% | -3.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.44% | 9.87% | -3.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.13% | 9.01% | -2.88% |
PBAIX vs. SAAAX - Expense Ratio Comparison
PBAIX has a 0.77% expense ratio, which is lower than SAAAX's 1.17% expense ratio.
Dividends
PBAIX vs. SAAAX - Dividend Comparison
PBAIX has not paid dividends to shareholders, while SAAAX's dividend yield for the trailing twelve months is around 2.66%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PBAIX BlackRock Tactical Opportunities Fund Institutional Class | 0.00% | 0.00% | 0.00% | 11.84% | 3.52% | 0.00% | 2.71% | 3.39% | 10.17% | 0.86% | 1.74% | 5.15% |
SAAAX SEI Institutional Managed Trust Multi-Asset Accumulation Fund | 2.66% | 2.97% | 2.21% | 2.00% | 10.43% | 8.24% | 5.25% | 12.81% | 3.30% | 4.96% | 7.41% | 2.95% |
Frequently Asked Questions
PBAIX and SAAAX have a correlation of -0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SAAAX has higher volatility (2.82%) compared to PBAIX (1.71%). In terms of maximum drawdown, PBAIX dropped -39.26% vs SAAAX's -29.23%.
SAAAX currently has the higher Sharpe Ratio (2.65 vs 2.30), 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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