SEATX vs. MUB
SEATX (SEI Tax Exempt Trust Tax-Advantaged Income Fund) and MUB (iShares National AMT-Free Muni Bond ETF) are both funds - SEATX is a Intermediate Core-Plus Bond fund managed by SEI, while MUB is a Municipal Bonds fund tracking the S&P National AMT-Free Municipal Bond Index. Over the past 10 years, SEATX returned 2.69%/yr vs 1.90%/yr for MUB. At a 0.44 correlation, their price movements are largely independent. SEATX charges 0.86%/yr vs 0.07%/yr for MUB.
Performance
SEATX vs. MUB - Performance Comparison
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Returns By Period
In the year-to-date period, SEATX achieves a 2.21% return, which is significantly higher than MUB's 1.48% return. Over the past 10 years, SEATX has outperformed MUB with an annualized return of 2.69%, while MUB has yielded a comparatively lower 1.90% annualized return.
SEATX
- 1D
- -0.11%
- 1M
- 1.38%
- YTD
- 2.21%
- 6M
- 2.65%
- 1Y
- 5.28%
- 3Y*
- 4.52%
- 5Y*
- 0.37%
- 10Y*
- 2.69%
MUB
- 1D
- -0.06%
- 1M
- 1.29%
- YTD
- 1.48%
- 6M
- 1.78%
- 1Y
- 6.40%
- 3Y*
- 3.19%
- 5Y*
- 0.93%
- 10Y*
- 1.90%
SEATX vs. MUB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SEATX SEI Tax Exempt Trust Tax-Advantaged Income Fund | 2.21% | 2.12% | 5.75% | 5.57% | -13.10% | 4.00% | 6.20% | 10.58% | 0.56% | 8.54% |
MUB iShares National AMT-Free Muni Bond ETF | 1.48% | 3.78% | 1.26% | 5.56% | -7.34% | 1.02% | 5.12% | 7.06% | 0.93% | 4.72% |
Correlation
The correlation between SEATX and MUB is 0.71, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.71 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.69 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.66 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.60 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2008 | 0.44 |
Over the past year, SEATX and MUB have become more correlated (0.71) than their long-term average of 0.44, meaning their price movements have been converging.
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Return for Risk
SEATX vs. MUB — Risk / Return Rank
SEATX
MUB
SEATX vs. MUB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SEI Tax Exempt Trust Tax-Advantaged Income Fund (SEATX) and iShares National AMT-Free Muni Bond ETF (MUB). 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.
| SEATX | MUB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.43 | ||
| Sortino ratioReturn per unit of downside risk | -0.33 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.46 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 1.92 | 2.31 | -0.39 |
| Martin ratioReturn relative to average drawdown | 7.13 | 8.02 | -0.89 |
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Drawdowns
SEATX vs. MUB - Drawdown Comparison
The maximum SEATX drawdown since its inception was -28.46%, which is greater than MUB's maximum drawdown of -13.68%. Use the drawdown chart below to compare losses from any high point for SEATX and MUB.
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Drawdown Indicators
| SEATX | MUB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.46% | -13.68% | -14.78% |
Max Drawdown (1Y)Largest decline over 1 year | -2.84% | -2.79% | -0.05% |
Max Drawdown (3Y)Largest decline over 3 years | -6.80% | -5.34% | -1.46% |
Max Drawdown (5Y)Largest decline over 5 years | -17.71% | -11.88% | -5.83% |
Max Drawdown (10Y)Largest decline over 10 years | -17.71% | -13.68% | -4.03% |
Current DrawdownCurrent decline from peak | -0.11% | -0.47% | +0.36% |
Average DrawdownAverage peak-to-trough decline | -3.48% | -2.23% | -1.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.76% | 0.80% | -0.04% |
Volatility
SEATX vs. MUB - Volatility Comparison
SEI Tax Exempt Trust Tax-Advantaged Income Fund (SEATX) has a higher volatility of 0.82% compared to iShares National AMT-Free Muni Bond ETF (MUB) at 0.77%. This indicates that SEATX's price experiences larger fluctuations and is considered to be riskier than MUB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SEATX | MUB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.82% | 0.77% | +0.05% |
Volatility (6M)Calculated over the trailing 6-month period | 2.27% | 2.27% | 0.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.02% | 2.88% | +0.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.29% | 4.07% | +0.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.57% | 4.92% | -0.35% |
SEATX vs. MUB - Expense Ratio Comparison
SEATX has a 0.86% expense ratio, which is higher than MUB's 0.07% expense ratio.
Dividends
SEATX vs. MUB - Dividend Comparison
SEATX's dividend yield for the trailing twelve months is around 4.68%, more than MUB's 3.17% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MUB iShares National AMT-Free Muni Bond ETF | 3.17% | 3.14% | 3.01% | 2.65% | 2.11% | 1.81% | 2.11% | 2.42% | 2.46% | 2.26% | 2.21% | 2.51% |
SEATX SEI Tax Exempt Trust Tax-Advantaged Income Fund | 4.68% | 4.52% | 4.63% | 3.38% | 3.16% | 3.37% | 4.28% | 5.63% | 4.76% | 4.65% | 4.10% | 4.25% |
Frequently Asked Questions
SEATX and MUB have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SEATX has higher volatility (0.82%) compared to MUB (0.77%). In terms of maximum drawdown, SEATX dropped -28.46% vs MUB's -13.68%.
MUB currently has the higher Sharpe Ratio (2.23 vs 1.80), 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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