SENYX vs. SGYAX

Last updated Aug 1, 2026

SENYX (SEI Tax-Exempt Trust New York Municipal Bond Fund) and SGYAX (SEI Institutional Investments Trust High Yield Bond Fund) are both mutual funds - SENYX is a Municipal Bonds fund managed by SEI, while SGYAX is a High Yield Bonds fund managed by SEI. Over the past 10 years, SENYX returned 1.17%/yr vs 5.42%/yr for SGYAX. Their 0.13 correlation means their historical movements had little consistent relationship. SENYX charges 0.60%/yr vs 0.56%/yr for SGYAX.

Performance

SENYX vs. SGYAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SEI Tax-Exempt Trust New York Municipal Bond Fund (SENYX) and SEI Institutional Investments Trust High Yield Bond Fund (SGYAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SENYX achieves a -0.54% return, which is significantly lower than SGYAX's 1.08% return. Over the past 10 years, SENYX has underperformed SGYAX with an annualized return of 1.17%, while SGYAX has yielded a comparatively higher 5.42% annualized return.

SENYX

• 1D: -0.10%
• 1M: -1.44%
• 6M: -1.60%
• YTD: -0.54%
• 1Y: 2.73%
• 3Y*: 2.53%
• 5Y*: 0.31%
• 10Y*: 1.17%
• ALL TIME*: 2.92%

SGYAX

• 1D: 0.15%
• 1M: -0.58%
• 6M: -0.02%
• YTD: 1.08%
• 1Y: 3.94%
• 3Y*: 7.30%
• 5Y*: 3.23%
• 10Y*: 5.42%
• ALL TIME*: 3.13%

*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)
SENYX SEI Tax-Exempt Trust New York Municipal Bond Fund	$0.00	$0.00	$0.00
SGYAX SEI Institutional Investments Trust High Yield Bond Fund	$0.00	$0.00	$0.00

SENYX vs. SGYAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SENYX SEI Tax-Exempt Trust New York Municipal Bond Fund	-0.54%	5.71%	-0.31%	4.35%	-6.04%	-0.14%	3.25%	5.92%	0.62%	3.41%
SGYAX SEI Institutional Investments Trust High Yield Bond Fund	1.08%	8.01%	9.12%	10.89%	-13.29%	9.62%	6.04%	14.01%	-2.04%	8.08%

Correlation

The correlation between SENYX and SGYAX is 0.47, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.47
Correlation (3Y) Balances recent behavior with more history.	0.44
Correlation (5Y) Shows whether the relationship held over a longer period.	0.43
Correlation (10Y) Provides a long-term view across more market conditions.	0.30
Correlation (All Time) Calculated using the full available price history since Jan 3, 2006	0.13

Over the past year, SENYX and SGYAX have become more correlated (0.47) than their long-term average of 0.13, meaning their price movements have been converging.

Return for Risk

SENYX vs. SGYAX — Risk / Return Rank

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

SENYX

SENYX Risk / Return Rank: 46
SENYX Sharpe Ratio Rank: 57
SENYX Sortino Ratio Rank: 54
SENYX Omega Ratio Rank: 78
SENYX Calmar Ratio Rank: 22
SENYX Martin Ratio Rank: 19

SGYAX

SGYAX Risk / Return Rank: 54
SGYAX Sharpe Ratio Rank: 47
SGYAX Sortino Ratio Rank: 70
SGYAX Omega Ratio Rank: 67
SGYAX Calmar Ratio Rank: 39
SGYAX Martin Ratio Rank: 48

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.

SENYX vs. SGYAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SEI Tax-Exempt Trust New York Municipal Bond Fund (SENYX) and SEI Institutional Investments Trust High Yield Bond Fund (SGYAX). 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.

	SENYX	SGYAX	Difference
Sharpe ratio: Return per unit of total volatility	1.50	1.28	+0.22
Sortino ratio: Return per unit of downside risk	2.11	2.34	-0.23
Omega ratio: Gain probability vs. loss probability	1.36	1.29	+0.07
Calmar ratio: Return relative to maximum drawdown	1.11	1.59	-0.48
Martin ratio: Return relative to average drawdown	2.81	6.60	-3.79

SENYX vs. SGYAX - Sharpe Ratio Comparison

The current SENYX Sharpe Ratio is 1.50, which is comparable to the SGYAX Sharpe Ratio of 1.28. The chart below compares the historical Sharpe Ratios of SENYX and SGYAX, 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

SENYX vs. SGYAX - Drawdown Comparison

The maximum SENYX drawdown since its inception was -10.92%, smaller than the maximum SGYAX drawdown of -45.51%. Use the drawdown chart below to compare losses from any high point for SENYX and SGYAX.

Drawdown Indicators

	SENYX	SGYAX	Difference
Max Drawdown Largest peak-to-trough decline	-10.92%	-45.51%	+34.59%
Max Drawdown (1Y) Largest decline over 1 year	-3.02%	-2.77%	-0.25%
Max Drawdown (3Y) Largest decline over 3 years	-3.72%	-4.18%	+0.46%
Max Drawdown (5Y) Largest decline over 5 years	-10.92%	-15.45%	+4.53%
Max Drawdown (10Y) Largest decline over 10 years	-10.92%	-21.85%	+10.93%
Current Drawdown Current decline from peak	-2.51%	-0.72%	-1.79%
Average Drawdown Average peak-to-trough decline	-1.67%	-6.01%	+4.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.19%	0.67%	+0.52%

Volatility

SENYX vs. SGYAX - Volatility Comparison

SEI Tax-Exempt Trust New York Municipal Bond Fund (SENYX) has a higher volatility of 0.69% compared to SEI Institutional Investments Trust High Yield Bond Fund (SGYAX) at 0.59%. This indicates that SENYX's price experiences larger fluctuations and is considered to be riskier than SGYAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SENYX	SGYAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.69%	0.59%	+0.10%
Volatility (6M) Calculated over the trailing 6-month period	1.88%	2.78%	-0.90%
Volatility (1Y) Calculated over the trailing 1-year period	2.24%	3.46%	-1.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.99%	4.79%	-1.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.31%	5.27%	-1.96%

SENYX vs. SGYAX - Expense Ratio Comparison

SENYX has a 0.60% expense ratio, which is higher than SGYAX's 0.56% expense ratio.

Dividends

SENYX vs. SGYAX - Dividend Comparison

SENYX's dividend yield for the trailing twelve months is around 2.23%, less than SGYAX's 8.06% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SENYX SEI Tax-Exempt Trust New York Municipal Bond Fund	2.23%	2.96%	1.64%	1.39%	1.24%	1.98%	2.00%	2.11%	1.92%	1.95%	2.03%	2.25%
SGYAX SEI Institutional Investments Trust High Yield Bond Fund	8.06%	8.88%	8.68%	10.08%	8.79%	5.37%	7.30%	7.15%	7.31%	7.27%	7.30%	7.88%

Frequently Asked Questions

Can I hold both SENYX and SGYAX in my portfolio?

SENYX and SGYAX have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SENYX or SGYAX?

SENYX has higher volatility (0.69%) compared to SGYAX (0.59%). In terms of maximum drawdown, SENYX dropped -10.92% vs SGYAX's -45.51%.

Which has better risk-adjusted returns?

SENYX currently has the higher Sharpe Ratio (1.50 vs 1.28), 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.