SEMCX vs. VTCLX

Last updated Jun 23, 2026

SEMCX (SEI Institutional Managed Trust Mid-Cap Fund) and VTCLX (Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares) are both mutual funds - SEMCX is a Mid Cap Blend Equities fund managed by BlackRock, while VTCLX is a Large Cap Blend Equities fund tracking the Russell 1000 Index. Over the past 10 years, SEMCX returned 10.65%/yr vs 15.42%/yr for VTCLX. Their correlation of 0.93 suggests significant overlap in exposure. SEMCX charges 0.98%/yr vs 0.05%/yr for VTCLX.

Performance

SEMCX vs. VTCLX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SEI Institutional Managed Trust Mid-Cap Fund (SEMCX) and Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares (VTCLX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SEMCX achieves a 12.51% return, which is significantly higher than VTCLX's 10.03% return. Over the past 10 years, SEMCX has underperformed VTCLX with an annualized return of 10.65%, while VTCLX has yielded a comparatively higher 15.42% annualized return.

SEMCX

• 1D: 0.37%
• 1M: 1.58%
• YTD: 12.51%
• 6M: 10.55%
• 1Y: 22.94%
• 3Y*: 15.75%
• 5Y*: 9.10%
• 10Y*: 10.65%

VTCLX

• 1D: 1.08%
• 1M: 0.78%
• YTD: 10.03%
• 6M: 9.38%
• 1Y: 26.78%
• 3Y*: 20.54%
• 5Y*: 13.27%
• 10Y*: 15.42%

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

SEMCX vs. VTCLX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SEMCX SEI Institutional Managed Trust Mid-Cap Fund	12.51%	9.87%	15.83%	14.81%	-14.50%	28.14%	5.81%	24.53%	-11.96%	20.32%
VTCLX Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares	10.03%	17.44%	23.76%	26.62%	-19.07%	26.87%	21.08%	31.47%	-4.98%	22.40%

Correlation

The correlation between SEMCX and VTCLX is 0.79, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.79
Correlation (3Y) Calculated over the trailing 3-year period	0.83
Correlation (5Y) Calculated over the trailing 5-year period	0.89
Correlation (10Y) Calculated over the trailing 10-year period	0.89
Correlation (All Time) Calculated using the full available price history since Nov 12, 2001	0.93

The correlation between SEMCX and VTCLX shifts across timeframes, from 0.79 (1 year) to 0.93 (all time), reflecting how their relationship changes across market environments.

Return for Risk

SEMCX vs. VTCLX — Risk / Return Rank

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

SEMCX

SEMCX Risk / Return Rank: 47
SEMCX Sharpe Ratio Rank: 39
SEMCX Sortino Ratio Rank: 40
SEMCX Omega Ratio Rank: 37
SEMCX Calmar Ratio Rank: 61
SEMCX Martin Ratio Rank: 59

VTCLX

VTCLX Risk / Return Rank: 64
VTCLX Sharpe Ratio Rank: 61
VTCLX Sortino Ratio Rank: 56
VTCLX Omega Ratio Rank: 57
VTCLX Calmar Ratio Rank: 68
VTCLX 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.

SEMCX vs. VTCLX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SEI Institutional Managed Trust Mid-Cap Fund (SEMCX) and Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares (VTCLX). 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.

	SEMCX	VTCLX	Difference
Sharpe ratio: Return per unit of total volatility	1.71	2.11	-0.41
Sortino ratio: Return per unit of downside risk	2.46	2.87	-0.41
Omega ratio: Gain probability vs. loss probability	1.30	1.38	-0.08
Calmar ratio: Return relative to maximum drawdown	2.85	3.03	-0.18
Martin ratio: Return relative to average drawdown	11.09	13.67	-2.58

SEMCX vs. VTCLX - Sharpe Ratio Comparison

The current SEMCX Sharpe Ratio is 1.71, which is comparable to the VTCLX Sharpe Ratio of 2.11. The chart below compares the historical Sharpe Ratios of SEMCX and VTCLX, 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

SEMCX vs. VTCLX - Drawdown Comparison

The maximum SEMCX drawdown since its inception was -61.08%, which is greater than VTCLX's maximum drawdown of -55.18%. Use the drawdown chart below to compare losses from any high point for SEMCX and VTCLX.

Drawdown Indicators

	SEMCX	VTCLX	Difference
Max Drawdown Largest peak-to-trough decline	-61.08%	-55.18%	-5.90%
Max Drawdown (1Y) Largest decline over 1 year	-8.14%	-8.79%	+0.65%
Max Drawdown (3Y) Largest decline over 3 years	-20.98%	-19.01%	-1.97%
Max Drawdown (5Y) Largest decline over 5 years	-22.39%	-24.98%	+2.59%
Max Drawdown (10Y) Largest decline over 10 years	-42.21%	-34.56%	-7.65%
Current Drawdown Current decline from peak	-1.63%	-1.15%	-0.48%
Average Drawdown Average peak-to-trough decline	-8.56%	-7.55%	-1.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.09%	1.95%	+0.14%

Volatility

SEMCX vs. VTCLX - Volatility Comparison

The current volatility for SEI Institutional Managed Trust Mid-Cap Fund (SEMCX) is 4.51%, while Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares (VTCLX) has a volatility of 4.78%. This indicates that SEMCX experiences smaller price fluctuations and is considered to be less risky than VTCLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SEMCX	VTCLX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.51%	4.78%	-0.27%
Volatility (6M) Calculated over the trailing 6-month period	10.31%	9.99%	+0.32%
Volatility (1Y) Calculated over the trailing 1-year period	13.59%	12.61%	+0.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.55%	17.31%	+0.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.69%	18.32%	+1.37%

SEMCX vs. VTCLX - Expense Ratio Comparison

SEMCX has a 0.98% expense ratio, which is higher than VTCLX's 0.05% expense ratio.

Dividends

SEMCX vs. VTCLX - Dividend Comparison

SEMCX's dividend yield for the trailing twelve months is around 19.89%, more than VTCLX's 0.91% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SEMCX SEI Institutional Managed Trust Mid-Cap Fund	19.89%	22.37%	8.65%	0.53%	0.82%	20.09%	1.12%	2.14%	13.99%	7.97%	1.66%	18.87%
VTCLX Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares	0.91%	0.93%	1.04%	1.24%	1.47%	1.04%	1.32%	1.52%	1.83%	1.57%	1.76%	1.69%

Frequently Asked Questions

Can I hold both SEMCX and VTCLX in my portfolio?

SEMCX and VTCLX have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SEMCX or VTCLX?

VTCLX has higher volatility (4.78%) compared to SEMCX (4.51%). In terms of maximum drawdown, SEMCX dropped -61.08% vs VTCLX's -55.18%.

Which has better risk-adjusted returns?

VTCLX currently has the higher Sharpe Ratio (2.11 vs 1.71), 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.