SEHAX vs. SPINX

Last updated Aug 1, 2026

SEHAX (SEI Institutional Investments Trust U.S. Equity Factor Allocation Fund) and SPINX (SEI Institutional Investments Trust S&P 500 Index Fund) are both mutual funds - SEHAX is a Large Cap Blend Equities fund managed by SEI, while SPINX is a S&P 500 fund tracking the S&P 500 Index. Over the past 5 years, SEHAX returned 13.09%/yr vs 12.45%/yr for SPINX. Their 0.96 correlation means they have historically moved very closely together. SEHAX charges 0.32%/yr vs 0.12%/yr for SPINX.

Performance

SEHAX vs. SPINX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SEI Institutional Investments Trust U.S. Equity Factor Allocation Fund (SEHAX) and SEI Institutional Investments Trust S&P 500 Index Fund (SPINX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SEHAX achieves a 13.28% return, which is significantly higher than SPINX's 9.32% return.

SEHAX

• 1D: 0.72%
• 1M: 1.77%
• 6M: 11.07%
• YTD: 13.28%
• 1Y: 25.44%
• 3Y*: 20.50%
• 5Y*: 13.09%
• 10Y*: —
• ALL TIME*: 14.72%

SPINX

• 1D: 1.66%
• 1M: -0.55%
• 6M: 7.77%
• YTD: 9.32%
• 1Y: 20.66%
• 3Y*: 18.70%
• 5Y*: 12.45%
• 10Y*: 14.85%
• ALL TIME*: 13.71%

*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)
SEHAX SEI Institutional Investments Trust U.S. Equity Factor Allocation Fund	$0.00	$0.00	$0.00
SPINX SEI Institutional Investments Trust S&P 500 Index Fund	$0.00	$0.00	$0.00

SEHAX vs. SPINX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
SEHAX SEI Institutional Investments Trust U.S. Equity Factor Allocation Fund	13.28%	17.99%	24.97%	21.99%	-15.84%	32.78%	13.16%	28.09%	-5.81%
SPINX SEI Institutional Investments Trust S&P 500 Index Fund	9.32%	17.89%	24.02%	26.24%	-18.27%	28.62%	18.35%	31.42%	-3.78%

Correlation

The correlation between SEHAX and SPINX is 0.92, 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.	0.92
Correlation (3Y) Balances recent behavior with more history.	0.93
Correlation (5Y) Shows whether the relationship held over a longer period.	0.95
Correlation (All Time) Calculated using the full available price history since Apr 26, 2018	0.96

The correlation between SEHAX and SPINX has been stable across timeframes, ranging from 0.92 to 0.96 - a consistent structural relationship.

Return for Risk

SEHAX vs. SPINX — Risk / Return Rank

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

SEHAX

SEHAX Risk / Return Rank: 82
SEHAX Sharpe Ratio Rank: 81
SEHAX Sortino Ratio Rank: 78
SEHAX Omega Ratio Rank: 77
SEHAX Calmar Ratio Rank: 86
SEHAX Martin Ratio Rank: 91

SPINX

SPINX Risk / Return Rank: 61
SPINX Sharpe Ratio Rank: 58
SPINX Sortino Ratio Rank: 55
SPINX Omega Ratio Rank: 56
SPINX Calmar Ratio Rank: 61
SPINX Martin Ratio Rank: 73

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.

SEHAX vs. SPINX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SEI Institutional Investments Trust U.S. Equity Factor Allocation Fund (SEHAX) and SEI Institutional Investments Trust S&P 500 Index Fund (SPINX). 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.

	SEHAX	SPINX	Difference
Sharpe ratio: Return per unit of total volatility	1.96	1.43	+0.53
Sortino ratio: Return per unit of downside risk	2.72	2.00	+0.72
Omega ratio: Gain probability vs. loss probability	1.35	1.26	+0.09
Calmar ratio: Return relative to maximum drawdown	3.04	2.07	+0.97
Martin ratio: Return relative to average drawdown	13.12	8.87	+4.25

SEHAX vs. SPINX - Sharpe Ratio Comparison

The current SEHAX Sharpe Ratio is 1.96, which is higher than the SPINX Sharpe Ratio of 1.43. The chart below compares the historical Sharpe Ratios of SEHAX and SPINX, 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

SEHAX vs. SPINX - Drawdown Comparison

The maximum SEHAX drawdown since its inception was -35.77%, which is greater than SPINX's maximum drawdown of -33.82%. Use the drawdown chart below to compare losses from any high point for SEHAX and SPINX.

Drawdown Indicators

	SEHAX	SPINX	Difference
Max Drawdown Largest peak-to-trough decline	-35.77%	-33.82%	-1.95%
Max Drawdown (1Y) Largest decline over 1 year	-7.74%	-8.92%	+1.18%
Max Drawdown (3Y) Largest decline over 3 years	-17.69%	-32.91%	+15.22%
Max Drawdown (5Y) Largest decline over 5 years	-35.77%	-32.91%	-2.86%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.82%	—
Current Drawdown Current decline from peak	-0.33%	-2.13%	+1.80%
Average Drawdown Average peak-to-trough decline	-8.88%	-5.17%	-3.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.79%	2.08%	-0.29%

Volatility

SEHAX vs. SPINX - Volatility Comparison

The current volatility for SEI Institutional Investments Trust U.S. Equity Factor Allocation Fund (SEHAX) is 2.82%, while SEI Institutional Investments Trust S&P 500 Index Fund (SPINX) has a volatility of 3.42%. This indicates that SEHAX experiences smaller price fluctuations and is considered to be less risky than SPINX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SEHAX	SPINX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.82%	3.42%	-0.60%
Volatility (6M) Calculated over the trailing 6-month period	9.26%	10.07%	-0.81%
Volatility (1Y) Calculated over the trailing 1-year period	12.03%	12.88%	-0.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.07%	22.59%	-1.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.60%	20.96%	+0.64%

SEHAX vs. SPINX - Expense Ratio Comparison

SEHAX has a 0.32% expense ratio, which is higher than SPINX's 0.12% expense ratio.

Dividends

SEHAX vs. SPINX - Dividend Comparison

SEHAX's dividend yield for the trailing twelve months is around 4.93%, less than SPINX's 10.94% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SEHAX SEI Institutional Investments Trust U.S. Equity Factor Allocation Fund	4.93%	5.52%	7.85%	1.15%	12.75%	23.76%	1.69%	1.97%	1.24%	0.00%	0.00%	0.00%
SPINX SEI Institutional Investments Trust S&P 500 Index Fund	10.94%	11.90%	26.02%	9.77%	9.59%	6.58%	3.58%	3.01%	4.94%	2.32%	1.97%	2.29%

Frequently Asked Questions

Can I hold both SEHAX and SPINX in my portfolio?

With a correlation of 0.92, SEHAX and SPINX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, SEHAX or SPINX?

SPINX has higher volatility (3.42%) compared to SEHAX (2.82%). In terms of maximum drawdown, SEHAX dropped -35.77% vs SPINX's -33.82%.

Which has better risk-adjusted returns?

SEHAX currently has the higher Sharpe Ratio (1.96 vs 1.43), 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.