SEIAX vs. WAIIX

Last updated Jun 4, 2026

SEIAX (SEI Multi-Asset Real Return Fund Class A) and WAIIX (Western Asset Inflation Indexed Plus Bond Fund) are both Inflation-Protected Bonds funds. Over the past 10 years, SEIAX returned 4.26%/yr vs 2.26%/yr for WAIIX. At a 0.21 correlation, their price movements are largely independent. SEIAX charges 0.21%/yr vs 0.54%/yr for WAIIX.

Performance

SEIAX vs. WAIIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SEI Multi-Asset Real Return Fund Class A (SEIAX) and Western Asset Inflation Indexed Plus Bond Fund (WAIIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SEIAX achieves a 8.10% return, which is significantly higher than WAIIX's 1.43% return. Over the past 10 years, SEIAX has outperformed WAIIX with an annualized return of 4.26%, while WAIIX has yielded a comparatively lower 2.26% annualized return.

SEIAX

• 1D: 0.12%
• 1M: -1.48%
• YTD: 8.10%
• 6M: 7.92%
• 1Y: 12.80%
• 3Y*: 8.07%
• 5Y*: 6.47%
• 10Y*: 4.26%

WAIIX

• 1D: 0.00%
• 1M: 0.10%
• YTD: 1.43%
• 6M: 0.98%
• 1Y: 4.83%
• 3Y*: 3.39%
• 5Y*: 0.54%
• 10Y*: 2.26%

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

SEIAX vs. WAIIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SEIAX SEI Multi-Asset Real Return Fund Class A	8.10%	8.50%	4.74%	-1.01%	9.20%	11.41%	-0.51%	6.33%	-2.93%	-1.12%
WAIIX Western Asset Inflation Indexed Plus Bond Fund	1.43%	6.41%	1.05%	3.30%	-12.64%	4.74%	9.84%	9.79%	-2.25%	3.82%

Correlation

The correlation between SEIAX and WAIIX is 0.10, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.10
Correlation (3Y) Calculated over the trailing 3-year period	0.27
Correlation (5Y) Calculated over the trailing 5-year period	0.30
Correlation (10Y) Calculated over the trailing 10-year period	0.25
Correlation (All Time) Calculated using the full available price history since Jan 4, 2012	0.21

The correlation between SEIAX and WAIIX shifts across timeframes, from 0.10 (1 year) to 0.30 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

SEIAX vs. WAIIX — Risk / Return Rank

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

SEIAX

SEIAX Risk / Return Rank: 79
SEIAX Sharpe Ratio Rank: 68
SEIAX Sortino Ratio Rank: 71
SEIAX Omega Ratio Rank: 69
SEIAX Calmar Ratio Rank: 94
SEIAX Martin Ratio Rank: 90

WAIIX

WAIIX Risk / Return Rank: 27
WAIIX Sharpe Ratio Rank: 22
WAIIX Sortino Ratio Rank: 24
WAIIX Omega Ratio Rank: 22
WAIIX Calmar Ratio Rank: 33
WAIIX Martin Ratio Rank: 32

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.

SEIAX vs. WAIIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SEI Multi-Asset Real Return Fund Class A (SEIAX) and Western Asset Inflation Indexed Plus Bond Fund (WAIIX). 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.

	SEIAX	WAIIX	Difference
Sharpe ratio: Return per unit of total volatility	2.42	1.37	+1.05
Sortino ratio: Return per unit of downside risk	3.52	2.06	+1.46
Omega ratio: Gain probability vs. loss probability	1.47	1.25	+0.22
Calmar ratio: Return relative to maximum drawdown	5.52	2.18	+3.34
Martin ratio: Return relative to average drawdown	18.48	7.31	+11.17
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SEIAX vs. WAIIX - Sharpe Ratio Comparison

The current SEIAX Sharpe Ratio is 2.42, which is higher than the WAIIX Sharpe Ratio of 1.37. The chart below compares the historical Sharpe Ratios of SEIAX and WAIIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SEIAX	WAIIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.42	1.37	+1.05
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.16	0.08	+1.07
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.82	0.40	+0.42
Sharpe Ratio (All Time) Calculated using the full available price history	0.45	0.64	-0.19

Drawdowns

SEIAX vs. WAIIX - Drawdown Comparison

The maximum SEIAX drawdown since its inception was -20.97%, which is greater than WAIIX's maximum drawdown of -16.55%. Use the drawdown chart below to compare losses from any high point for SEIAX and WAIIX.

Drawdown Indicators

	SEIAX	WAIIX	Difference
Max Drawdown Largest peak-to-trough decline	-20.97%	-16.55%	-4.42%
Max Drawdown (1Y) Largest decline over 1 year	-2.33%	-2.18%	-0.15%
Max Drawdown (3Y) Largest decline over 3 years	-3.31%	-5.85%	+2.54%
Max Drawdown (5Y) Largest decline over 5 years	-7.67%	-15.99%	+8.32%
Max Drawdown (10Y) Largest decline over 10 years	-13.20%	-15.99%	+2.79%
Current Drawdown Current decline from peak	-1.84%	-2.10%	+0.26%
Average Drawdown Average peak-to-trough decline	-7.09%	-3.83%	-3.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.69%	0.65%	+0.04%

Volatility

SEIAX vs. WAIIX - Volatility Comparison

SEI Multi-Asset Real Return Fund Class A (SEIAX) has a higher volatility of 2.06% compared to Western Asset Inflation Indexed Plus Bond Fund (WAIIX) at 0.93%. This indicates that SEIAX's price experiences larger fluctuations and is considered to be riskier than WAIIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SEIAX	WAIIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.06%	0.93%	+1.13%
Volatility (6M) Calculated over the trailing 6-month period	4.67%	2.39%	+2.28%
Volatility (1Y) Calculated over the trailing 1-year period	5.31%	3.47%	+1.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.62%	6.39%	-0.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.23%	5.65%	-0.42%

SEIAX vs. WAIIX - Expense Ratio Comparison

SEIAX has a 0.21% expense ratio, which is lower than WAIIX's 0.54% expense ratio.

Dividends

SEIAX vs. WAIIX - Dividend Comparison

SEIAX's dividend yield for the trailing twelve months is around 2.72%, less than WAIIX's 3.45% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SEIAX SEI Multi-Asset Real Return Fund Class A	2.72%	2.94%	5.16%	3.77%	13.78%	10.42%	2.34%	2.13%	3.63%	1.57%	1.73%	1.01%
WAIIX Western Asset Inflation Indexed Plus Bond Fund	3.45%	4.12%	3.44%	2.80%	6.69%	12.25%	1.38%	2.18%	2.82%	2.03%	1.30%	0.37%

Frequently Asked Questions

Can I hold both SEIAX and WAIIX in my portfolio?

SEIAX and WAIIX have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SEIAX or WAIIX?

SEIAX has higher volatility (2.06%) compared to WAIIX (0.93%). In terms of maximum drawdown, SEIAX dropped -20.97% vs WAIIX's -16.55%.

Which has better risk-adjusted returns?

SEIAX currently has the higher Sharpe Ratio (2.42 vs 1.37), 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.