SECPX vs. NUSFX

Last updated Jun 25, 2026

SECPX (SEI Daily Income Ultra Short Duration Bond Fund) and NUSFX (Northern Ultra-Short Fixed Income Fund) are both Ultrashort Bond funds. Over the past 10 years, SECPX returned 2.30%/yr vs 2.31%/yr for NUSFX. At a 0.27 correlation, their price movements are largely independent. SECPX charges 0.38%/yr vs 0.28%/yr for NUSFX.

Performance

SECPX vs. NUSFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SEI Daily Income Ultra Short Duration Bond Fund (SECPX) and Northern Ultra-Short Fixed Income Fund (NUSFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with SECPX having a 1.10% return and NUSFX slightly higher at 1.14%. Both investments have delivered pretty close results over the past 10 years, with SECPX having a 2.30% annualized return and NUSFX not far ahead at 2.31%.

SECPX

• 1D: 0.11%
• 1M: 0.33%
• YTD: 1.10%
• 6M: 1.55%
• 1Y: 3.92%
• 3Y*: 4.54%
• 5Y*: 2.83%
• 10Y*: 2.30%

NUSFX

• 1D: 0.00%
• 1M: 0.37%
• YTD: 1.14%
• 6M: 1.14%
• 1Y: 3.73%
• 3Y*: 4.42%
• 5Y*: 2.74%
• 10Y*: 2.31%

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

SECPX vs. NUSFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SECPX SEI Daily Income Ultra Short Duration Bond Fund	1.10%	4.76%	4.68%	5.07%	-1.22%	-0.06%	1.84%	3.23%	1.72%	1.67%
NUSFX Northern Ultra-Short Fixed Income Fund	1.14%	4.27%	5.22%	5.21%	-1.59%	-0.17%	2.34%	3.68%	1.51%	1.53%

Correlation

The correlation between SECPX and NUSFX is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.11
Correlation (3Y) Calculated over the trailing 3-year period	0.23
Correlation (5Y) Calculated over the trailing 5-year period	0.32
Correlation (10Y) Calculated over the trailing 10-year period	0.30
Correlation (All Time) Calculated using the full available price history since Jun 25, 2009	0.27

The correlation between SECPX and NUSFX shifts across timeframes, from 0.11 (1 year) to 0.32 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

SECPX vs. NUSFX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SECPX

SECPX Risk / Return Rank: 97
SECPX Sharpe Ratio Rank: 92
SECPX Sortino Ratio Rank: 98
SECPX Omega Ratio Rank: 98
SECPX Calmar Ratio Rank: 98
SECPX Martin Ratio Rank: 98

NUSFX

NUSFX Risk / Return Rank: 98
NUSFX Sharpe Ratio Rank: 96
NUSFX Sortino Ratio Rank: 99
NUSFX Omega Ratio Rank: 99
NUSFX Calmar Ratio Rank: 99
NUSFX Martin Ratio Rank: 99

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SECPX vs. NUSFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SEI Daily Income Ultra Short Duration Bond Fund (SECPX) and Northern Ultra-Short Fixed Income Fund (NUSFX). 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.

	SECPX	NUSFX	Difference
Sharpe ratio: Return per unit of total volatility	2.73	3.07	-0.34
Sortino ratio: Return per unit of downside risk	6.50	10.32	-3.82
Omega ratio: Gain probability vs. loss probability	2.25	3.49	-1.24
Calmar ratio: Return relative to maximum drawdown	7.39	10.91	-3.52
Martin ratio: Return relative to average drawdown	33.32	39.70	-6.39

SECPX vs. NUSFX - Sharpe Ratio Comparison

The current SECPX Sharpe Ratio is 2.73, which is comparable to the NUSFX Sharpe Ratio of 3.07. The chart below compares the historical Sharpe Ratios of SECPX and NUSFX, 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

SECPX vs. NUSFX - Drawdown Comparison

The maximum SECPX drawdown since its inception was -11.64%, which is greater than NUSFX's maximum drawdown of -3.88%. Use the drawdown chart below to compare losses from any high point for SECPX and NUSFX.

Drawdown Indicators

	SECPX	NUSFX	Difference
Max Drawdown Largest peak-to-trough decline	-11.64%	-3.88%	-7.76%
Max Drawdown (1Y) Largest decline over 1 year	-0.53%	-0.39%	-0.14%
Max Drawdown (3Y) Largest decline over 3 years	-0.53%	-0.87%	+0.34%
Max Drawdown (5Y) Largest decline over 5 years	-2.64%	-3.35%	+0.71%
Max Drawdown (10Y) Largest decline over 10 years	-4.47%	-3.88%	-0.59%
Current Drawdown Current decline from peak	-0.11%	-0.10%	-0.01%
Average Drawdown Average peak-to-trough decline	-0.54%	-0.24%	-0.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.12%	0.11%	+0.01%

Volatility

SECPX vs. NUSFX - Volatility Comparison

SEI Daily Income Ultra Short Duration Bond Fund (SECPX) has a higher volatility of 0.53% compared to Northern Ultra-Short Fixed Income Fund (NUSFX) at 0.50%. This indicates that SECPX's price experiences larger fluctuations and is considered to be riskier than NUSFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SECPX	NUSFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.53%	0.50%	+0.03%
Volatility (6M) Calculated over the trailing 6-month period	1.07%	0.96%	+0.11%
Volatility (1Y) Calculated over the trailing 1-year period	1.45%	1.38%	+0.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.36%	1.32%	+0.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.25%	1.22%	+0.03%

SECPX vs. NUSFX - Expense Ratio Comparison

SECPX has a 0.38% expense ratio, which is higher than NUSFX's 0.28% expense ratio.

Dividends

SECPX vs. NUSFX - Dividend Comparison

SECPX's dividend yield for the trailing twelve months is around 4.07%, more than NUSFX's 3.76% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NUSFX Northern Ultra-Short Fixed Income Fund	3.76%	3.78%	4.09%	2.86%	0.97%	0.71%	1.52%	2.42%	2.09%	1.42%	1.07%	0.85%
SECPX SEI Daily Income Ultra Short Duration Bond Fund	4.07%	4.21%	3.80%	3.17%	1.05%	0.58%	1.49%	2.53%	2.14%	1.44%	1.00%	1.59%

Frequently Asked Questions

Can I hold both SECPX and NUSFX in my portfolio?

SECPX and NUSFX have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SECPX or NUSFX?

SECPX has higher volatility (0.53%) compared to NUSFX (0.50%). In terms of maximum drawdown, SECPX dropped -11.64% vs NUSFX's -3.88%.

Which has better risk-adjusted returns?

NUSFX currently has the higher Sharpe Ratio (3.07 vs 2.73), 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.