SBDAX vs. SEIAX
SBDAX (SEI Tax Exempt Trust California Municipal Bond Fund) and SEIAX (SEI Multi-Asset Real Return Fund Class A) are both mutual funds - SBDAX is a Municipal Bonds fund managed by SEI, while SEIAX is a Inflation-Protected Bonds fund managed by SEI. Over the past 10 years, SBDAX returned 0.99%/yr vs 4.43%/yr for SEIAX. Their 0.03 correlation means their historical movements had little consistent relationship. SBDAX charges 0.60%/yr vs 0.21%/yr for SEIAX.
Performance
SBDAX vs. SEIAX - Performance Comparison
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Returns By Period
In the year-to-date period, SBDAX achieves a -1.18% return, which is significantly lower than SEIAX's 9.31% return. Over the past 10 years, SBDAX has underperformed SEIAX with an annualized return of 0.99%, while SEIAX has yielded a comparatively higher 4.43% annualized return.
SBDAX
- 1D
- -0.10%
- 1M
- -1.74%
- 6M
- -2.22%
- YTD
- -1.18%
- 1Y
- 2.37%
- 3Y*
- 2.34%
- 5Y*
- -0.05%
- 10Y*
- 0.99%
- ALL TIME*
- 2.93%
SEIAX
- 1D
- -0.25%
- 1M
- 3.05%
- 6M
- 5.74%
- YTD
- 9.31%
- 1Y
- 12.98%
- 3Y*
- 7.77%
- 5Y*
- 6.48%
- 10Y*
- 4.43%
- ALL TIME*
- 2.29%
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 |
SBDAX vs. SEIAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SBDAX SEI Tax Exempt Trust California Municipal Bond Fund | -1.18% | 5.70% | 0.02% | 4.02% | -7.30% | -0.55% | 3.76% | 5.90% | 0.87% | 3.74% |
SEIAX SEI Multi-Asset Real Return Fund Class A | 9.31% | 8.50% | 4.74% | -1.01% | 9.20% | 11.41% | -0.51% | 6.33% | -2.93% | -1.12% |
Correlation
The correlation between SBDAX and SEIAX is -0.24, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.24 |
Correlation (3Y) Balances recent behavior with more history. | 0.01 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.05 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.05 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2012 | 0.03 |
The correlation between SBDAX and SEIAX shifts across timeframes, from -0.24 (1 year) to 0.05 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
SBDAX vs. SEIAX — Risk / Return Rank
SBDAX
SEIAX
SBDAX vs. SEIAX - 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 SEI Multi-Asset Real Return Fund Class A (SEIAX). 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.
| SBDAX | SEIAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.97 | ||
| Sortino ratioReturn per unit of downside risk | -1.53 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.41 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 0.90 | 2.98 | -2.08 |
| Martin ratioReturn relative to average drawdown | 2.08 | 10.16 | -8.08 |
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Drawdowns
SBDAX vs. SEIAX - Drawdown Comparison
The maximum SBDAX drawdown since its inception was -11.86%, smaller than the maximum SEIAX drawdown of -20.97%. Use the drawdown chart below to compare losses from any high point for SBDAX and SEIAX.
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Drawdown Indicators
| SBDAX | SEIAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.86% | -20.97% | +9.11% |
Max Drawdown (1Y)Largest decline over 1 year | -3.40% | -4.29% | +0.89% |
Max Drawdown (3Y)Largest decline over 3 years | -4.09% | -4.29% | +0.20% |
Max Drawdown (5Y)Largest decline over 5 years | -11.86% | -7.67% | -4.19% |
Max Drawdown (10Y)Largest decline over 10 years | -11.86% | -13.20% | +1.34% |
Current DrawdownCurrent decline from peak | -3.21% | -0.74% | -2.47% |
Average DrawdownAverage peak-to-trough decline | -1.87% | -7.04% | +5.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.47% | 1.26% | +0.21% |
Volatility
SBDAX vs. SEIAX - Volatility Comparison
The current volatility for SEI Tax Exempt Trust California Municipal Bond Fund (SBDAX) is 0.77%, while SEI Multi-Asset Real Return Fund Class A (SEIAX) has a volatility of 1.63%. This indicates that SBDAX experiences smaller price fluctuations and is considered to be less risky than SEIAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SBDAX | SEIAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.77% | 1.63% | -0.86% |
Volatility (6M)Calculated over the trailing 6-month period | 2.00% | 4.89% | -2.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.40% | 5.70% | -3.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.21% | 5.67% | -2.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.56% | 5.25% | -1.69% |
SBDAX vs. SEIAX - Expense Ratio Comparison
SBDAX has a 0.60% expense ratio, which is higher than SEIAX's 0.21% expense ratio.
Dividends
SBDAX vs. SEIAX - Dividend Comparison
SBDAX's dividend yield for the trailing twelve months is around 2.09%, less than SEIAX's 2.69% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SBDAX SEI Tax Exempt Trust California Municipal Bond Fund | 2.09% | 2.74% | 1.78% | 1.26% | 1.38% | 1.35% | 1.87% | 2.21% | 1.98% | 1.99% | 2.23% | 2.79% |
SEIAX SEI Multi-Asset Real Return Fund Class A | 2.69% | 2.94% | 5.16% | 3.77% | 13.78% | 10.42% | 2.34% | 2.13% | 3.63% | 1.57% | 1.73% | 1.01% |
Frequently Asked Questions
SBDAX and SEIAX have a correlation of -0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SEIAX has higher volatility (1.63%) compared to SBDAX (0.77%). In terms of maximum drawdown, SBDAX dropped -11.86% vs SEIAX's -20.97%.
SEIAX currently has the higher Sharpe Ratio (2.24 vs 1.27), 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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