SAAAX vs. SCHD

Last updated Jun 4, 2026

SAAAX (SEI Institutional Managed Trust Multi-Asset Accumulation Fund) and SCHD (Schwab U.S. Dividend Equity ETF) are both funds - SAAAX is a Tactical Allocation fund managed by BlackRock, while SCHD is a Dividend fund tracking the Dow Jones U.S. Dividend 100 Index. Over the past 10 years, SAAAX returned 4.51%/yr vs 12.77%/yr for SCHD. A 0.50 correlation means they provide meaningful diversification when combined. SAAAX charges 1.17%/yr vs 0.06%/yr for SCHD.

Performance

SAAAX vs. SCHD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SEI Institutional Managed Trust Multi-Asset Accumulation Fund (SAAAX) and Schwab U.S. Dividend Equity ETF (SCHD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SAAAX achieves a 11.79% return, which is significantly lower than SCHD's 19.01% return. Over the past 10 years, SAAAX has underperformed SCHD with an annualized return of 4.51%, while SCHD has yielded a comparatively higher 12.77% annualized return.

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%

SCHD

• 1D: 0.00%
• 1M: 2.70%
• YTD: 19.01%
• 6M: 18.63%
• 1Y: 27.16%
• 3Y*: 15.09%
• 5Y*: 8.36%
• 10Y*: 12.77%

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

SAAAX vs. SCHD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
SCHD Schwab U.S. Dividend Equity ETF	19.01%	4.34%	11.66%	4.54%	-3.26%	29.87%	15.03%	27.29%	-5.56%	20.85%

Correlation

The correlation between SAAAX and SCHD is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.39
Correlation (3Y) Calculated over the trailing 3-year period	0.47
Correlation (5Y) Calculated over the trailing 5-year period	0.50
Correlation (10Y) Calculated over the trailing 10-year period	0.50
Correlation (All Time) Calculated using the full available price history since Jan 3, 2013	0.50

The correlation between SAAAX and SCHD shifts across timeframes, from 0.39 (1 year) to 0.50 (all time), reflecting how their relationship changes across market environments.

Return for Risk

SAAAX vs. SCHD — Risk / Return Rank

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

SAAAX

SAAAX Risk / Return Rank: 75
SAAAX Sharpe Ratio Rank: 81
SAAAX Sortino Ratio Rank: 75
SAAAX Omega Ratio Rank: 73
SAAAX Calmar Ratio Rank: 73
SAAAX Martin Ratio Rank: 73

SCHD

SCHD Risk / Return Rank: 80
SCHD Sharpe Ratio Rank: 75
SCHD Sortino Ratio Rank: 84
SCHD Omega Ratio Rank: 73
SCHD Calmar Ratio Rank: 91
SCHD Martin Ratio Rank: 75

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.

SAAAX vs. SCHD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SEI Institutional Managed Trust Multi-Asset Accumulation Fund (SAAAX) and Schwab U.S. Dividend Equity ETF (SCHD). 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.

	SAAAX	SCHD	Difference
Sharpe ratio: Return per unit of total volatility	2.65	2.49	+0.16
Sortino ratio: Return per unit of downside risk	3.62	3.87	-0.25
Omega ratio: Gain probability vs. loss probability	1.48	1.45	+0.04
Calmar ratio: Return relative to maximum drawdown	3.34	5.91	-2.58
Martin ratio: Return relative to average drawdown	13.89	14.53	-0.64
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SAAAX vs. SCHD - Sharpe Ratio Comparison

The current SAAAX Sharpe Ratio is 2.65, which is comparable to the SCHD Sharpe Ratio of 2.49. The chart below compares the historical Sharpe Ratios of SAAAX and SCHD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SAAAX	SCHD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.65	2.49	+0.16
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.17	0.58	-0.42
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.50	0.77	-0.26
Sharpe Ratio (All Time) Calculated using the full available price history	0.48	0.86	-0.38

Drawdowns

SAAAX vs. SCHD - Drawdown Comparison

The maximum SAAAX drawdown since its inception was -29.23%, smaller than the maximum SCHD drawdown of -33.37%. Use the drawdown chart below to compare losses from any high point for SAAAX and SCHD.

Drawdown Indicators

	SAAAX	SCHD	Difference
Max Drawdown Largest peak-to-trough decline	-29.23%	-33.37%	+4.14%
Max Drawdown (1Y) Largest decline over 1 year	-7.14%	-4.61%	-2.53%
Max Drawdown (3Y) Largest decline over 3 years	-10.60%	-16.13%	+5.53%
Max Drawdown (5Y) Largest decline over 5 years	-29.23%	-16.85%	-12.38%
Max Drawdown (10Y) Largest decline over 10 years	-29.23%	-33.37%	+4.14%
Current Drawdown Current decline from peak	0.00%	-1.40%	+1.40%
Average Drawdown Average peak-to-trough decline	-8.44%	-3.32%	-5.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.71%	1.88%	-0.17%

Volatility

SAAAX vs. SCHD - Volatility Comparison

SEI Institutional Managed Trust Multi-Asset Accumulation Fund (SAAAX) has a higher volatility of 2.82% compared to Schwab U.S. Dividend Equity ETF (SCHD) at 2.66%. This indicates that SAAAX's price experiences larger fluctuations and is considered to be riskier than SCHD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SAAAX	SCHD	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.82%	2.66%	+0.16%
Volatility (6M) Calculated over the trailing 6-month period	7.38%	7.66%	-0.28%
Volatility (1Y) Calculated over the trailing 1-year period	8.99%	10.96%	-1.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.87%	14.38%	-4.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.01%	16.72%	-7.71%

SAAAX vs. SCHD - Expense Ratio Comparison

SAAAX has a 1.17% expense ratio, which is higher than SCHD's 0.06% expense ratio.

Dividends

SAAAX vs. SCHD - Dividend Comparison

SAAAX's dividend yield for the trailing twelve months is around 2.66%, less than SCHD's 3.26% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
SCHD Schwab U.S. Dividend Equity ETF	3.26%	3.82%	3.64%	3.49%	3.39%	2.78%	3.16%	2.98%	3.06%	2.63%	2.89%	2.97%

Frequently Asked Questions

Can I hold both SAAAX and SCHD in my portfolio?

SAAAX and SCHD have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SAAAX or SCHD?

SAAAX has higher volatility (2.82%) compared to SCHD (2.66%). In terms of maximum drawdown, SAAAX dropped -29.23% vs SCHD's -33.37%.

Which has better risk-adjusted returns?

SAAAX currently has the higher Sharpe Ratio (2.65 vs 2.49), 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.