SECAX vs. LDRAX

Last updated Aug 4, 2026

SECAX (SEI Institutional Investments Trust Small Cap II Fund) and LDRAX (SEI Institutional Investments Trust Long Duration Fund) are both mutual funds - SECAX is a Small Cap Blend Equities fund managed by SEI, while LDRAX is a Long-Term Bond fund managed by SEI. Over the past 10 years, SECAX returned 11.38%/yr vs 0.62%/yr for LDRAX. Their -0.11 correlation means they have often moved in opposite directions in the past. SECAX charges 0.72%/yr vs 0.14%/yr for LDRAX.

Performance

SECAX vs. LDRAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SEI Institutional Investments Trust Small Cap II Fund (SECAX) and SEI Institutional Investments Trust Long Duration Fund (LDRAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SECAX achieves a 18.11% return, which is significantly higher than LDRAX's -3.50% return. Over the past 10 years, SECAX has outperformed LDRAX with an annualized return of 11.38%, while LDRAX has yielded a comparatively lower 0.62% annualized return.

SECAX

• 1D: 0.07%
• 1M: -0.08%
• 6M: 10.45%
• YTD: 18.11%
• 1Y: 36.47%
• 3Y*: 15.46%
• 5Y*: 8.78%
• 10Y*: 11.38%
• ALL TIME*: 11.22%

LDRAX

• 1D: -0.36%
• 1M: -3.99%
• 6M: -3.42%
• YTD: -3.50%
• 1Y: -1.29%
• 3Y*: 1.39%
• 5Y*: -5.21%
• 10Y*: 0.62%
• ALL TIME*: 1.30%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
LDRAX SEI Institutional Investments Trust Long Duration Fund	$0.00	$0.00	$0.00
SECAX SEI Institutional Investments Trust Small Cap II Fund	$0.00	$0.00	$0.00

SECAX vs. LDRAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SECAX SEI Institutional Investments Trust Small Cap II Fund	18.11%	12.95%	13.06%	14.56%	-15.40%	20.45%	19.84%	24.98%	-9.83%	11.94%
LDRAX SEI Institutional Investments Trust Long Duration Fund	-3.50%	6.81%	-3.28%	7.16%	-27.73%	-2.19%	18.23%	21.19%	-5.16%	11.74%

Correlation

The correlation between SECAX and LDRAX is 0.34, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.34
Correlation (3Y) Balances recent behavior with more history.	0.26
Correlation (5Y) Shows whether the relationship held over a longer period.	0.16
Correlation (10Y) Provides a long-term view across more market conditions.	-0.04
Correlation (All Time) Calculated using the full available price history since Jan 2, 2013	-0.11

The correlation between SECAX and LDRAX shifts across timeframes, from -0.11 (all time) to 0.34 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

SECAX vs. LDRAX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

SECAX

SECAX Risk / Return Rank: 81
SECAX Sharpe Ratio Rank: 79
SECAX Sortino Ratio Rank: 79
SECAX Omega Ratio Rank: 71
SECAX Calmar Ratio Rank: 89
SECAX Martin Ratio Rank: 89

LDRAX

LDRAX Risk / Return Rank: 4
LDRAX Sharpe Ratio Rank: 4
LDRAX Sortino Ratio Rank: 3
LDRAX Omega Ratio Rank: 3
LDRAX Calmar Ratio Rank: 4
LDRAX Martin Ratio Rank: 4

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

SECAX vs. LDRAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SEI Institutional Investments Trust Small Cap II Fund (SECAX) and SEI Institutional Investments Trust Long Duration Fund (LDRAX). 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.

	SECAX	LDRAX	Difference
Sharpe ratio: Return per unit of total volatility	1.92	-0.04	+1.96
Sortino ratio: Return per unit of downside risk	2.78	0.00	+2.78
Omega ratio: Gain probability vs. loss probability	1.33	1.00	+0.33
Calmar ratio: Return relative to maximum drawdown	3.42	-0.05	+3.46
Martin ratio: Return relative to average drawdown	12.39	-0.11	+12.50

SECAX vs. LDRAX - Sharpe Ratio Comparison

The current SECAX Sharpe Ratio is 1.92, which is higher than the LDRAX Sharpe Ratio of -0.04. The chart below compares the historical Sharpe Ratios of SECAX and LDRAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SECAX vs. LDRAX - Drawdown Comparison

The maximum SECAX drawdown since its inception was -42.43%, which is greater than LDRAX's maximum drawdown of -37.23%. Use the drawdown chart below to compare losses from any high point for SECAX and LDRAX.

Drawdown Indicators

	SECAX	LDRAX	Difference
Max Drawdown Largest peak-to-trough decline	-42.43%	-37.23%	-5.20%
Max Drawdown (1Y) Largest decline over 1 year	-10.03%	-6.04%	-3.99%
Max Drawdown (3Y) Largest decline over 3 years	-26.31%	-11.43%	-14.88%
Max Drawdown (5Y) Largest decline over 5 years	-37.58%	-36.35%	-1.23%
Max Drawdown (10Y) Largest decline over 10 years	-42.43%	-37.23%	-5.20%
Current Drawdown Current decline from peak	-1.76%	-25.53%	+23.77%
Average Drawdown Average peak-to-trough decline	-10.12%	-12.47%	+2.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.76%	2.49%	+0.27%

Volatility

SECAX vs. LDRAX - Volatility Comparison

SEI Institutional Investments Trust Small Cap II Fund (SECAX) has a higher volatility of 3.73% compared to SEI Institutional Investments Trust Long Duration Fund (LDRAX) at 2.05%. This indicates that SECAX's price experiences larger fluctuations and is considered to be riskier than LDRAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SECAX	LDRAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.73%	2.05%	+1.68%
Volatility (6M) Calculated over the trailing 6-month period	12.64%	5.92%	+6.72%
Volatility (1Y) Calculated over the trailing 1-year period	17.87%	7.71%	+10.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.61%	12.47%	+13.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.39%	11.37%	+13.02%

SECAX vs. LDRAX - Expense Ratio Comparison

SECAX has a 0.72% expense ratio, which is higher than LDRAX's 0.14% expense ratio.

Dividends

SECAX vs. LDRAX - Dividend Comparison

SECAX's dividend yield for the trailing twelve months is around 8.65%, more than LDRAX's 4.94% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LDRAX SEI Institutional Investments Trust Long Duration Fund	4.94%	5.04%	4.62%	3.42%	3.23%	4.30%	12.32%	8.60%	4.80%	4.46%	6.21%	9.23%
SECAX SEI Institutional Investments Trust Small Cap II Fund	8.65%	9.82%	9.95%	4.45%	4.16%	26.25%	0.79%	4.84%	24.96%	14.39%	0.72%	9.06%

Frequently Asked Questions

Can I hold both SECAX and LDRAX in my portfolio?

SECAX and LDRAX have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SECAX or LDRAX?

SECAX has higher volatility (3.73%) compared to LDRAX (2.05%). In terms of maximum drawdown, SECAX dropped -42.43% vs LDRAX's -37.23%.

Which has better risk-adjusted returns?

SECAX currently has the higher Sharpe Ratio (1.92 vs -0.04), 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.