SECAX vs. RIVSX

Last updated Aug 4, 2026

SECAX (SEI Institutional Investments Trust Small Cap II Fund) and RIVSX (River Oak Discovery Fund) are both Small Cap Blend Equities funds. Over the past 10 years, SECAX returned 11.38%/yr vs 11.84%/yr for RIVSX. Their correlation of 0.89 means they have usually moved in the same direction. SECAX charges 0.72%/yr vs 1.18%/yr for RIVSX.

Performance

SECAX vs. RIVSX - 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 River Oak Discovery Fund (RIVSX). 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 lower than RIVSX's 30.67% return. Both investments have delivered pretty close results over the past 10 years, with SECAX having a 11.38% annualized return and RIVSX not far ahead at 11.84%.

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%

RIVSX

• 1D: 1.23%
• 1M: -2.30%
• 6M: 20.09%
• YTD: 30.67%
• 1Y: 48.36%
• 3Y*: 15.04%
• 5Y*: 8.56%
• 10Y*: 11.84%
• ALL TIME*: 8.54%

*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)
RIVSX River Oak Discovery Fund	$0.00	$0.00	$0.00
SECAX SEI Institutional Investments Trust Small Cap II Fund	$0.00	$0.00	$0.00

SECAX vs. RIVSX - 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%
RIVSX River Oak Discovery Fund	30.67%	9.11%	4.42%	8.18%	-14.53%	24.78%	29.00%	30.36%	-13.72%	11.33%

Correlation

The correlation between SECAX and RIVSX is 0.85, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.85
Correlation (3Y) Balances recent behavior with more history.	0.89
Correlation (5Y) Shows whether the relationship held over a longer period.	0.90
Correlation (10Y) Provides a long-term view across more market conditions.	0.89
Correlation (All Time) Calculated using the full available price history since Jan 2, 2013	0.89

The correlation between SECAX and RIVSX has been stable across timeframes, ranging from 0.85 to 0.90 - a consistent structural relationship.

Return for Risk

SECAX vs. RIVSX — 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

RIVSX

RIVSX Risk / Return Rank: 92
RIVSX Sharpe Ratio Rank: 93
RIVSX Sortino Ratio Rank: 90
RIVSX Omega Ratio Rank: 85
RIVSX Calmar Ratio Rank: 97
RIVSX Martin Ratio Rank: 95

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. RIVSX - 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 River Oak Discovery Fund (RIVSX). 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	RIVSX	Difference
Sharpe ratio: Return per unit of total volatility	1.92	2.43	-0.51
Sortino ratio: Return per unit of downside risk	2.78	3.36	-0.58
Omega ratio: Gain probability vs. loss probability	1.33	1.42	-0.09
Calmar ratio: Return relative to maximum drawdown	3.42	5.12	-1.70
Martin ratio: Return relative to average drawdown	12.39	16.39	-4.00

SECAX vs. RIVSX - Sharpe Ratio Comparison

The current SECAX Sharpe Ratio is 1.92, which is comparable to the RIVSX Sharpe Ratio of 2.43. The chart below compares the historical Sharpe Ratios of SECAX and RIVSX, 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. RIVSX - Drawdown Comparison

The maximum SECAX drawdown since its inception was -42.43%, smaller than the maximum RIVSX drawdown of -60.61%. Use the drawdown chart below to compare losses from any high point for SECAX and RIVSX.

Drawdown Indicators

	SECAX	RIVSX	Difference
Max Drawdown Largest peak-to-trough decline	-42.43%	-60.61%	+18.18%
Max Drawdown (1Y) Largest decline over 1 year	-10.03%	-9.11%	-0.92%
Max Drawdown (3Y) Largest decline over 3 years	-26.31%	-24.52%	-1.79%
Max Drawdown (5Y) Largest decline over 5 years	-37.58%	-25.75%	-11.83%
Max Drawdown (10Y) Largest decline over 10 years	-42.43%	-41.45%	-0.98%
Current Drawdown Current decline from peak	-1.76%	-4.63%	+2.87%
Average Drawdown Average peak-to-trough decline	-10.12%	-10.42%	+0.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.76%	2.84%	-0.08%

Volatility

SECAX vs. RIVSX - Volatility Comparison

The current volatility for SEI Institutional Investments Trust Small Cap II Fund (SECAX) is 3.73%, while River Oak Discovery Fund (RIVSX) has a volatility of 5.64%. This indicates that SECAX experiences smaller price fluctuations and is considered to be less risky than RIVSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SECAX	RIVSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.73%	5.64%	-1.91%
Volatility (6M) Calculated over the trailing 6-month period	12.64%	13.36%	-0.72%
Volatility (1Y) Calculated over the trailing 1-year period	17.87%	19.26%	-1.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.61%	20.34%	+5.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.39%	21.84%	+2.55%

SECAX vs. RIVSX - Expense Ratio Comparison

SECAX has a 0.72% expense ratio, which is lower than RIVSX's 1.18% expense ratio.

Dividends

SECAX vs. RIVSX - Dividend Comparison

SECAX's dividend yield for the trailing twelve months is around 8.65%, more than RIVSX's 0.22% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RIVSX River Oak Discovery Fund	0.22%	0.29%	0.00%	0.00%	0.15%	16.84%	14.54%	3.81%	17.54%	5.48%	0.00%	0.11%
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 RIVSX in my portfolio?

SECAX and RIVSX have a correlation of 0.85, 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 RIVSX?

RIVSX has higher volatility (5.64%) compared to SECAX (3.73%). In terms of maximum drawdown, SECAX dropped -42.43% vs RIVSX's -60.61%.

Which has better risk-adjusted returns?

RIVSX currently has the higher Sharpe Ratio (2.43 vs 1.92), 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.