SBDAX vs. SENYX
SBDAX (SEI Tax Exempt Trust California Municipal Bond Fund) and SENYX (SEI Tax-Exempt Trust New York Municipal Bond Fund) are both Municipal Bonds funds from SEI. Over the past 10 years, SBDAX returned 1.14%/yr vs 1.30%/yr for SENYX. Their correlation of 0.85 suggests significant overlap in exposure. Both charge a 0.60% expense ratio.
Performance
SBDAX vs. SENYX - Performance Comparison
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Returns By Period
In the year-to-date period, SBDAX achieves a 0.18% return, which is significantly lower than SENYX's 0.52% return. Over the past 10 years, SBDAX has underperformed SENYX with an annualized return of 1.14%, while SENYX has yielded a comparatively higher 1.30% annualized return.
SBDAX
- 1D
- 0.00%
- 1M
- 1.18%
- YTD
- 0.18%
- 6M
- 0.46%
- 1Y
- 5.05%
- 3Y*
- 2.90%
- 5Y*
- 0.39%
- 10Y*
- 1.14%
SENYX
- 1D
- -0.10%
- 1M
- 0.99%
- YTD
- 0.52%
- 6M
- 0.92%
- 1Y
- 4.72%
- 3Y*
- 2.99%
- 5Y*
- 0.69%
- 10Y*
- 1.30%
SBDAX vs. SENYX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SBDAX SEI Tax Exempt Trust California Municipal Bond Fund | 0.18% | 5.70% | 0.02% | 4.02% | -7.30% | -0.55% | 3.76% | 5.90% | 0.87% | 3.74% |
SENYX SEI Tax-Exempt Trust New York Municipal Bond Fund | 0.52% | 5.71% | -0.31% | 4.35% | -6.04% | -0.14% | 3.25% | 5.92% | 0.62% | 3.41% |
Correlation
The correlation between SBDAX and SENYX is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.84 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.89 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.89 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.86 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 1999 | 0.85 |
The correlation between SBDAX and SENYX has been stable across timeframes, ranging from 0.84 to 0.89 - a consistent structural relationship.
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Return for Risk
SBDAX vs. SENYX — Risk / Return Rank
SBDAX
SENYX
SBDAX vs. SENYX - 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 Tax-Exempt Trust New York Municipal Bond Fund (SENYX). 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 | SENYX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.01 | ||
| Sortino ratioReturn per unit of downside risk | -0.12 | ||
| Omega ratioGain probability vs. loss probability | 1.54 | 1.59 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.49 | 1.57 | -0.08 |
| Martin ratioReturn relative to average drawdown | 3.99 | 4.50 | -0.51 |
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Drawdowns
SBDAX vs. SENYX - Drawdown Comparison
The maximum SBDAX drawdown since its inception was -11.86%, which is greater than SENYX's maximum drawdown of -10.92%. Use the drawdown chart below to compare losses from any high point for SBDAX and SENYX.
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Drawdown Indicators
| SBDAX | SENYX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.86% | -10.92% | -0.94% |
Max Drawdown (1Y)Largest decline over 1 year | -3.40% | -3.02% | -0.38% |
Max Drawdown (3Y)Largest decline over 3 years | -4.47% | -4.06% | -0.41% |
Max Drawdown (5Y)Largest decline over 5 years | -11.86% | -10.92% | -0.94% |
Max Drawdown (10Y)Largest decline over 10 years | -11.86% | -10.92% | -0.94% |
Current DrawdownCurrent decline from peak | -1.88% | -1.48% | -0.40% |
Average DrawdownAverage peak-to-trough decline | -1.87% | -1.67% | -0.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.27% | 1.05% | +0.22% |
Volatility
SBDAX vs. SENYX - Volatility Comparison
SEI Tax Exempt Trust California Municipal Bond Fund (SBDAX) has a higher volatility of 0.59% compared to SEI Tax-Exempt Trust New York Municipal Bond Fund (SENYX) at 0.56%. This indicates that SBDAX's price experiences larger fluctuations and is considered to be riskier than SENYX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SBDAX | SENYX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.59% | 0.56% | +0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 1.88% | 1.78% | +0.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.29% | 2.13% | +0.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.19% | 2.97% | +0.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.56% | 3.31% | +0.25% |
SBDAX vs. SENYX - Expense Ratio Comparison
Both SBDAX and SENYX have an expense ratio of 0.60%.
Dividends
SBDAX vs. SENYX - Dividend Comparison
SBDAX's dividend yield for the trailing twelve months is around 2.17%, less than SENYX's 2.36% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SBDAX SEI Tax Exempt Trust California Municipal Bond Fund | 2.17% | 2.74% | 1.78% | 1.26% | 1.38% | 1.35% | 1.87% | 2.21% | 1.98% | 1.99% | 2.23% | 2.79% |
SENYX SEI Tax-Exempt Trust New York Municipal Bond Fund | 2.36% | 2.96% | 1.64% | 1.39% | 1.24% | 1.98% | 2.00% | 2.11% | 1.92% | 1.95% | 2.03% | 2.25% |
Frequently Asked Questions
SBDAX and SENYX have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SBDAX has higher volatility (0.59%) compared to SENYX (0.56%). In terms of maximum drawdown, SBDAX dropped -11.86% vs SENYX's -10.92%.
SENYX currently has the higher Sharpe Ratio (2.22 vs 2.21), 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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