SEPAX vs. SPIIX
Compare and contrast key facts about SEI Tax-Exempt Trust Pennsylvania Municipal Bond Fund (SEPAX) and SEI S&P 500 Index Fund Class I (SPIIX).
SEPAX is managed by SEI. It was launched on Aug 25, 1998. SPIIX is a passively managed fund by SEI that tracks the performance of the S&P 500 Index. It was launched on Jun 28, 2002.
Performance
SEPAX vs. SPIIX - Performance Comparison
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SEPAX vs. SPIIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SEPAX SEI Tax-Exempt Trust Pennsylvania Municipal Bond Fund | -0.88% | 5.63% | 0.31% | 3.67% | -7.33% | -0.13% | 4.65% | 6.79% | 0.83% | 3.99% |
SPIIX SEI S&P 500 Index Fund Class I | -7.22% | 16.97% | 24.11% | 25.49% | -18.84% | 28.04% | 17.66% | 30.72% | -5.00% | 21.06% |
Returns By Period
In the year-to-date period, SEPAX achieves a -0.88% return, which is significantly higher than SPIIX's -7.22% return. Over the past 10 years, SEPAX has underperformed SPIIX with an annualized return of 1.44%, while SPIIX has yielded a comparatively higher 12.99% annualized return.
SEPAX
- 1D
- 0.10%
- 1M
- -2.53%
- YTD
- -0.88%
- 6M
- 0.26%
- 1Y
- 3.84%
- 3Y*
- 2.24%
- 5Y*
- 0.35%
- 10Y*
- 1.44%
SPIIX
- 1D
- -0.40%
- 1M
- -7.73%
- YTD
- -7.22%
- 6M
- -5.00%
- 1Y
- 13.56%
- 3Y*
- 16.34%
- 5Y*
- 10.62%
- 10Y*
- 12.99%
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SEPAX vs. SPIIX - Expense Ratio Comparison
SEPAX has a 0.63% expense ratio, which is lower than SPIIX's 0.65% expense ratio.
Return for Risk
SEPAX vs. SPIIX — Risk / Return Rank
SEPAX
SPIIX
SEPAX vs. SPIIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SEI Tax-Exempt Trust Pennsylvania Municipal Bond Fund (SEPAX) and SEI S&P 500 Index Fund Class I (SPIIX). 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.
| SEPAX | SPIIX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.38 | 0.79 | +0.60 |
Sortino ratioReturn per unit of downside risk | 1.82 | 1.23 | +0.59 |
Omega ratioGain probability vs. loss probability | 1.41 | 1.19 | +0.22 |
Calmar ratioReturn relative to maximum drawdown | 1.40 | 0.98 | +0.42 |
Martin ratioReturn relative to average drawdown | 5.71 | 4.73 | +0.98 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SEPAX | SPIIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.38 | 0.79 | +0.60 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.13 | 0.58 | -0.45 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.42 | 0.69 | -0.27 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.02 | 0.53 | +0.49 |
Correlation
The correlation between SEPAX and SPIIX is -0.11. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
Dividends
SEPAX vs. SPIIX - Dividend Comparison
SEPAX's dividend yield for the trailing twelve months is around 2.22%, less than SPIIX's 9.08% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SEPAX SEI Tax-Exempt Trust Pennsylvania Municipal Bond Fund | 2.22% | 2.83% | 1.86% | 1.45% | 1.20% | 1.66% | 2.04% | 2.22% | 1.93% | 1.84% | 1.96% | 1.87% |
SPIIX SEI S&P 500 Index Fund Class I | 9.08% | 8.42% | 12.20% | 4.10% | 10.27% | 7.03% | 5.78% | 4.04% | 3.90% | 2.08% | 4.34% | 1.53% |
Drawdowns
SEPAX vs. SPIIX - Drawdown Comparison
The maximum SEPAX drawdown since its inception was -11.49%, smaller than the maximum SPIIX drawdown of -55.78%. Use the drawdown chart below to compare losses from any high point for SEPAX and SPIIX.
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Drawdown Indicators
| SEPAX | SPIIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.49% | -55.78% | +44.29% |
Max Drawdown (1Y)Largest decline over 1 year | -3.29% | -12.14% | +8.85% |
Max Drawdown (5Y)Largest decline over 5 years | -11.49% | -25.70% | +14.21% |
Max Drawdown (10Y)Largest decline over 10 years | -11.49% | -33.85% | +22.36% |
Current DrawdownCurrent decline from peak | -2.53% | -9.02% | +6.49% |
Average DrawdownAverage peak-to-trough decline | -1.67% | -7.33% | +5.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.81% | 2.52% | -1.71% |
Volatility
SEPAX vs. SPIIX - Volatility Comparison
The current volatility for SEI Tax-Exempt Trust Pennsylvania Municipal Bond Fund (SEPAX) is 0.94%, while SEI S&P 500 Index Fund Class I (SPIIX) has a volatility of 4.24%. This indicates that SEPAX experiences smaller price fluctuations and is considered to be less risky than SPIIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SEPAX | SPIIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.94% | 4.24% | -3.30% |
Volatility (6M)Calculated over the trailing 6-month period | 1.36% | 9.09% | -7.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.27% | 18.13% | -14.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.80% | 18.41% | -15.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.46% | 18.84% | -15.38% |