SBDAX vs. NQP
Compare and contrast key facts about SEI Tax Exempt Trust California Municipal Bond Fund (SBDAX) and Nuveen Pennsylvania Quality Municipal Income (NQP).
SBDAX is managed by SEI. It was launched on Aug 18, 1998. NQP is an actively managed fund by Nuveen. It was launched on Feb 21, 1991.
Performance
SBDAX vs. NQP - Performance Comparison
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SBDAX vs. NQP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SBDAX SEI Tax Exempt Trust California Municipal Bond Fund | -1.09% | 5.70% | 0.02% | 4.02% | -7.30% | -0.55% | 3.76% | 5.90% | 0.87% | 3.74% |
NQP Nuveen Pennsylvania Quality Municipal Income | 2.14% | 15.46% | 2.70% | 7.44% | -21.95% | 7.75% | 7.08% | 21.21% | -2.28% | 5.96% |
Returns By Period
In the year-to-date period, SBDAX achieves a -1.09% return, which is significantly lower than NQP's 2.14% return. Over the past 10 years, SBDAX has underperformed NQP with an annualized return of 1.15%, while NQP has yielded a comparatively higher 3.34% annualized return.
SBDAX
- 1D
- 0.20%
- 1M
- -2.84%
- YTD
- -1.09%
- 6M
- 0.23%
- 1Y
- 3.91%
- 3Y*
- 2.12%
- 5Y*
- 0.24%
- 10Y*
- 1.15%
NQP
- 1D
- -0.17%
- 1M
- -0.51%
- YTD
- 2.14%
- 6M
- 2.76%
- 1Y
- 13.70%
- 3Y*
- 7.94%
- 5Y*
- 1.65%
- 10Y*
- 3.34%
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SBDAX vs. NQP - Expense Ratio Comparison
SBDAX has a 0.60% expense ratio, which is lower than NQP's 1.27% expense ratio.
Return for Risk
SBDAX vs. NQP — Risk / Return Rank
SBDAX
NQP
SBDAX vs. NQP - 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 Nuveen Pennsylvania Quality Municipal Income (NQP). 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.
| SBDAX | NQP | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.14 | 1.50 | -0.36 |
Sortino ratioReturn per unit of downside risk | 1.47 | 2.27 | -0.81 |
Omega ratioGain probability vs. loss probability | 1.31 | 1.31 | 0.00 |
Calmar ratioReturn relative to maximum drawdown | 1.27 | 3.27 | -1.99 |
Martin ratioReturn relative to average drawdown | 4.41 | 8.94 | -4.52 |
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
| SBDAX | NQP | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.14 | 1.50 | -0.36 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.08 | 0.17 | -0.09 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.33 | 0.31 | +0.02 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.97 | 0.41 | +0.56 |
Correlation
The correlation between SBDAX and NQP is 0.28, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
SBDAX vs. NQP - Dividend Comparison
SBDAX's dividend yield for the trailing twelve months is around 2.16%, less than NQP's 7.86% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
NQP Nuveen Pennsylvania Quality Municipal Income | 7.86% | 7.87% | 6.69% | 3.07% | 4.89% | 4.51% | 4.38% | 4.23% | 5.34% | 5.34% | 5.67% | 6.10% |
Drawdowns
SBDAX vs. NQP - Drawdown Comparison
The maximum SBDAX drawdown since its inception was -11.86%, smaller than the maximum NQP drawdown of -41.87%. Use the drawdown chart below to compare losses from any high point for SBDAX and NQP.
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Drawdown Indicators
| SBDAX | NQP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.86% | -41.87% | +30.01% |
Max Drawdown (1Y)Largest decline over 1 year | -3.74% | -4.63% | +0.89% |
Max Drawdown (5Y)Largest decline over 5 years | -11.86% | -32.41% | +20.55% |
Max Drawdown (10Y)Largest decline over 10 years | -11.86% | -32.41% | +20.55% |
Current DrawdownCurrent decline from peak | -3.12% | -1.68% | -1.44% |
Average DrawdownAverage peak-to-trough decline | -1.86% | -6.93% | +5.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.08% | 1.69% | -0.61% |
Volatility
SBDAX vs. NQP - Volatility Comparison
The current volatility for SEI Tax Exempt Trust California Municipal Bond Fund (SBDAX) is 1.17%, while Nuveen Pennsylvania Quality Municipal Income (NQP) has a volatility of 4.13%. This indicates that SBDAX experiences smaller price fluctuations and is considered to be less risky than NQP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SBDAX | NQP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.17% | 4.13% | -2.96% |
Volatility (6M)Calculated over the trailing 6-month period | 1.66% | 5.32% | -3.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.75% | 9.22% | -5.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.16% | 9.80% | -6.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.55% | 10.85% | -7.30% |