SEIMX vs. VTMFX

Last updated Jun 20, 2026

SEIMX (SEI Tax Exempt Trust Intermediate-Term Municipal Fund) and VTMFX (Vanguard Tax-Managed Balanced Fund Admiral Shares) are both mutual funds - SEIMX is a Municipal Bonds fund managed by SEI, while VTMFX is a Diversified Portfolio fund tracking the Composite benchmark: Russell 1000 Index and Bloomberg 1-15 Year Municipal Bond Index. Over the past 10 years, SEIMX returned 1.85%/yr vs 8.63%/yr for VTMFX. At a 0.07 correlation, their price movements are largely independent. SEIMX charges 0.63%/yr vs 0.05%/yr for VTMFX.

Performance

SEIMX vs. VTMFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SEI Tax Exempt Trust Intermediate-Term Municipal Fund (SEIMX) and Vanguard Tax-Managed Balanced Fund Admiral Shares (VTMFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SEIMX achieves a 1.27% return, which is significantly lower than VTMFX's 5.44% return. Over the past 10 years, SEIMX has underperformed VTMFX with an annualized return of 1.85%, while VTMFX has yielded a comparatively higher 8.63% annualized return.

SEIMX

• 1D: 0.00%
• 1M: 1.18%
• YTD: 1.27%
• 6M: 1.63%
• 1Y: 5.74%
• 3Y*: 3.63%
• 5Y*: 0.73%
• 10Y*: 1.85%

VTMFX

• 1D: 0.57%
• 1M: 0.96%
• YTD: 5.44%
• 6M: 5.27%
• 1Y: 15.82%
• 3Y*: 11.93%
• 5Y*: 7.23%
• 10Y*: 8.63%

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

SEIMX vs. VTMFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SEIMX SEI Tax Exempt Trust Intermediate-Term Municipal Fund	1.27%	5.10%	1.52%	5.02%	-8.87%	1.39%	4.87%	7.17%	0.70%	4.62%
VTMFX Vanguard Tax-Managed Balanced Fund Admiral Shares	5.44%	11.28%	12.17%	15.55%	-12.69%	13.10%	13.31%	18.01%	-1.40%	12.61%

Correlation

The correlation between SEIMX and VTMFX is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.30
Correlation (3Y) Calculated over the trailing 3-year period	0.27
Correlation (5Y) Calculated over the trailing 5-year period	0.24
Correlation (10Y) Calculated over the trailing 10-year period	0.14
Correlation (All Time) Calculated using the full available price history since Sep 6, 1994	0.07

Over the past year, SEIMX and VTMFX have become more correlated (0.30) than their long-term average of 0.07, meaning their price movements have been converging.

Return for Risk

SEIMX vs. VTMFX — Risk / Return Rank

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

SEIMX

SEIMX Risk / Return Rank: 67
SEIMX Sharpe Ratio Rank: 87
SEIMX Sortino Ratio Rank: 90
SEIMX Omega Ratio Rank: 94
SEIMX Calmar Ratio Rank: 34
SEIMX Martin Ratio Rank: 32

VTMFX

VTMFX Risk / Return Rank: 76
VTMFX Sharpe Ratio Rank: 81
VTMFX Sortino Ratio Rank: 79
VTMFX Omega Ratio Rank: 79
VTMFX Calmar Ratio Rank: 64
VTMFX Martin Ratio Rank: 79

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.

SEIMX vs. VTMFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SEI Tax Exempt Trust Intermediate-Term Municipal Fund (SEIMX) and Vanguard Tax-Managed Balanced Fund Admiral Shares (VTMFX). 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.

	SEIMX	VTMFX	Difference
Sharpe ratio: Return per unit of total volatility	2.59	2.45	+0.14
Sortino ratio: Return per unit of downside risk	4.03	3.45	+0.58
Omega ratio: Gain probability vs. loss probability	1.69	1.47	+0.22
Calmar ratio: Return relative to maximum drawdown	2.04	2.93	-0.89
Martin ratio: Return relative to average drawdown	6.67	13.72	-7.05

SEIMX vs. VTMFX - Sharpe Ratio Comparison

The current SEIMX Sharpe Ratio is 2.59, which is comparable to the VTMFX Sharpe Ratio of 2.45. The chart below compares the historical Sharpe Ratios of SEIMX and VTMFX, 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

SEIMX vs. VTMFX - Drawdown Comparison

The maximum SEIMX drawdown since its inception was -13.27%, smaller than the maximum VTMFX drawdown of -28.49%. Use the drawdown chart below to compare losses from any high point for SEIMX and VTMFX.

Drawdown Indicators

	SEIMX	VTMFX	Difference
Max Drawdown Largest peak-to-trough decline	-13.27%	-28.49%	+15.22%
Max Drawdown (1Y) Largest decline over 1 year	-2.82%	-5.38%	+2.56%
Max Drawdown (3Y) Largest decline over 3 years	-4.75%	-10.61%	+5.86%
Max Drawdown (5Y) Largest decline over 5 years	-13.27%	-17.40%	+4.13%
Max Drawdown (10Y) Largest decline over 10 years	-13.27%	-21.87%	+8.60%
Current Drawdown Current decline from peak	-0.80%	-0.56%	-0.24%
Average Drawdown Average peak-to-trough decline	-1.49%	-3.54%	+2.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.86%	1.15%	-0.29%

Volatility

SEIMX vs. VTMFX - Volatility Comparison

The current volatility for SEI Tax Exempt Trust Intermediate-Term Municipal Fund (SEIMX) is 0.66%, while Vanguard Tax-Managed Balanced Fund Admiral Shares (VTMFX) has a volatility of 2.50%. This indicates that SEIMX experiences smaller price fluctuations and is considered to be less risky than VTMFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SEIMX	VTMFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.66%	2.50%	-1.84%
Volatility (6M) Calculated over the trailing 6-month period	1.77%	5.21%	-3.44%
Volatility (1Y) Calculated over the trailing 1-year period	2.23%	6.45%	-4.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.26%	8.57%	-5.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.64%	9.15%	-5.51%

SEIMX vs. VTMFX - Expense Ratio Comparison

SEIMX has a 0.63% expense ratio, which is higher than VTMFX's 0.05% expense ratio.

Dividends

SEIMX vs. VTMFX - Dividend Comparison

SEIMX's dividend yield for the trailing twelve months is around 3.02%, more than VTMFX's 2.12% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SEIMX SEI Tax Exempt Trust Intermediate-Term Municipal Fund	3.02%	3.93%	2.60%	2.13%	1.79%	2.13%	2.39%	2.71%	2.60%	2.43%	2.49%	2.51%
VTMFX Vanguard Tax-Managed Balanced Fund Admiral Shares	2.12%	2.14%	2.08%	1.94%	1.85%	1.38%	1.72%	2.05%	2.22%	2.00%	2.13%	2.06%

Frequently Asked Questions

Can I hold both SEIMX and VTMFX in my portfolio?

SEIMX and VTMFX have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SEIMX or VTMFX?

VTMFX has higher volatility (2.50%) compared to SEIMX (0.66%). In terms of maximum drawdown, SEIMX dropped -13.27% vs VTMFX's -28.49%.

Which has better risk-adjusted returns?

SEIMX currently has the higher Sharpe Ratio (2.59 vs 2.45), 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.