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SBDAX vs. DFABX
Performance
Return for Risk
Dividends
Drawdowns
Volatility

SBDAX vs. DFABX

Last updated Apr 1, 2026

Compare and contrast key facts about SEI Tax Exempt Trust California Municipal Bond Fund (SBDAX) and DFA Short-Term Selective State Municipal Bond Portfolio (DFABX).

SBDAX is managed by SEI. It was launched on Aug 18, 1998. DFABX is managed by Dimensional. It was launched on Apr 11, 2022.

Performance

SBDAX vs. DFABX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SEI Tax Exempt Trust California Municipal Bond Fund (SBDAX) and DFA Short-Term Selective State Municipal Bond Portfolio (DFABX). The values are adjusted to include any dividend payments, if applicable.

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SBDAX vs. DFABX - Yearly Performance Comparison

2026 (YTD)2025202420232022
SBDAX
SEI Tax Exempt Trust California Municipal Bond Fund		-1.28%5.70%0.02%4.02%0.08%
DFABX
DFA Short-Term Selective State Municipal Bond Portfolio		0.58%2.46%2.90%2.87%0.55%

Returns By Period

In the year-to-date period, SBDAX achieves a -1.28% return, which is significantly lower than DFABX's 0.58% return.

SBDAX

1D
0.10%
1M
-3.31%
YTD
-1.28%
6M
0.04%
1Y
4.02%
3Y*
2.06%
5Y*
0.20%
10Y*
1.13%

DFABX

1D
0.05%
1M
-0.05%
YTD
0.58%
6M
1.12%
1Y
2.73%
3Y*
2.60%
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

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SEI Tax Exempt Trust California Municipal Bond Fund

DFA Short-Term Selective State Municipal Bond Portfolio

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Often compared with DFABX:
DFABX vs. CBTAXDFABX vs. FOHFXDFABX vs. VNYUXDFABX vs. COLTXDFABX vs. NMTRXDFABX vs. FUENXDFABX vs. VMLUX

SBDAX vs. DFABX - Expense Ratio Comparison

SBDAX has a 0.60% expense ratio, which is higher than DFABX's 0.25% expense ratio.

SBDAX
SEI Tax Exempt Trust California Municipal Bond Fund
DFABX
DFA Short-Term Selective State Municipal Bond Portfolio

Return for Risk

SBDAX vs. DFABX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SBDAX
SBDAX Risk / Return Rank: 6262
Overall Rank
SBDAX Sharpe Ratio Rank: 7070
Sharpe Ratio Rank
SBDAX Sortino Ratio Rank: 6161
Sortino Ratio Rank
SBDAX Omega Ratio Rank: 8383
Omega Ratio Rank
SBDAX Calmar Ratio Rank: 5454
Calmar Ratio Rank
SBDAX Martin Ratio Rank: 4444
Martin Ratio Rank
DFABX
DFABX Risk / Return Rank: 9999
Overall Rank
DFABX Sharpe Ratio Rank: 9999
Sharpe Ratio Rank
DFABX Sortino Ratio Rank: 9999
Sortino Ratio Rank
DFABX Omega Ratio Rank: 9999
Omega Ratio Rank
DFABX Calmar Ratio Rank: 9898
Calmar Ratio Rank
DFABX Martin Ratio Rank: 9999
Martin Ratio Rank
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.

SBDAX vs. DFABX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SEI Tax Exempt Trust California Municipal Bond Fund (SBDAX) and DFA Short-Term Selective State Municipal Bond Portfolio (DFABX). 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.

SBDAXDFABXDifference

Sharpe ratio

Return per unit of total volatility

1.22

3.90

-2.68

Sortino ratio

Return per unit of downside risk

1.58

7.13

-5.55

Omega ratio

Gain probability vs. loss probability

1.34

3.50

-2.17

Calmar ratio

Return relative to maximum drawdown

1.27

4.84

-3.56

Martin ratio

Return relative to average drawdown

4.49

26.76

-22.27

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SBDAX vs. DFABX - Sharpe Ratio Comparison

The current SBDAX Sharpe Ratio is 1.22, which is lower than the DFABX Sharpe Ratio of 3.90. The chart below compares the historical Sharpe Ratios of SBDAX and DFABX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

SBDAXDFABXDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.22

3.90

-2.68

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.06

—

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.32

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.97

2.44

-1.47

Correlation

The correlation between SBDAX and DFABX is 0.42, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

SBDAX vs. DFABX - Dividend Comparison

SBDAX's dividend yield for the trailing twelve months is around 2.16%, less than DFABX's 2.70% yield.

TTM20252024202320222021202020192018201720162015
SBDAX
SEI Tax Exempt Trust California Municipal Bond Fund		2.16%2.74%1.78%1.26%1.38%1.35%1.87%2.21%1.98%1.99%2.23%2.79%
DFABX
DFA Short-Term Selective State Municipal Bond Portfolio		2.70%2.33%2.86%2.52%1.25%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Drawdowns

SBDAX vs. DFABX - Drawdown Comparison

The maximum SBDAX drawdown since its inception was -11.86%, which is greater than DFABX's maximum drawdown of -2.46%. Use the drawdown chart below to compare losses from any high point for SBDAX and DFABX.

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Drawdown Indicators

SBDAXDFABXDifference

Max Drawdown

Largest peak-to-trough decline

-11.86%

-2.46%

-9.40%

Max Drawdown (1Y)

Largest decline over 1 year

-3.74%

-0.50%

-3.24%

Max Drawdown (5Y)

Largest decline over 5 years

-11.86%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-11.86%

—

—

Current Drawdown

Current decline from peak

-3.31%

-0.06%

-3.25%

Average Drawdown

Average peak-to-trough decline

-1.86%

-0.25%

-1.61%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.06%

0.09%

+0.97%

Volatility

SBDAX vs. DFABX - Volatility Comparison

SEI Tax Exempt Trust California Municipal Bond Fund (SBDAX) has a higher volatility of 1.13% compared to DFA Short-Term Selective State Municipal Bond Portfolio (DFABX) at 0.18%. This indicates that SBDAX's price experiences larger fluctuations and is considered to be riskier than DFABX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SBDAXDFABXDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.13%

0.18%

+0.95%

Volatility (6M)

Calculated over the trailing 6-month period

1.65%

0.40%

+1.25%

Volatility (1Y)

Calculated over the trailing 1-year period

3.75%

0.71%

+3.04%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

3.16%

0.97%

+2.19%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

3.55%

0.97%

+2.58%