SETAX vs. CREMX

Last updated Apr 1, 2026

Compare and contrast key facts about SEI Institutional Managed Trust Real Estate Fund (SETAX) and Redwood Real Estate Income Fund (CREMX).

SETAX is managed by BlackRock. It was launched on Nov 13, 2003. CREMX is an actively managed fund by Redwood. It was launched on Jun 23, 2023.

Performance

SETAX vs. CREMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SEI Institutional Managed Trust Real Estate Fund (SETAX) and Redwood Real Estate Income Fund (CREMX). The values are adjusted to include any dividend payments, if applicable.

SETAX vs. CREMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
SETAX SEI Institutional Managed Trust Real Estate Fund	1.64%	1.90%	10.63%	10.42%
CREMX Redwood Real Estate Income Fund	1.84%	7.72%	8.09%	1.95%

Returns By Period

In the year-to-date period, SETAX achieves a 1.64% return, which is significantly lower than CREMX's 1.84% return.

SETAX

• 1D: 0.41%
• 1M: -7.19%
• YTD: 1.64%
• 6M: -0.20%
• 1Y: 1.74%
• 3Y*: 8.96%
• 5Y*: 5.37%
• 10Y*: 5.56%

CREMX

• 1D: 0.04%
• 1M: 0.52%
• YTD: 1.84%
• 6M: 3.80%
• 1Y: 7.64%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SETAX vs. CREMX - Expense Ratio Comparison

SETAX has a 1.14% expense ratio, which is lower than CREMX's 5.16% expense ratio.

CREMX

Redwood Real Estate Income Fund

SETAX

SEI Institutional Managed Trust Real Estate Fund

Return for Risk

SETAX vs. CREMX — Risk / Return Rank

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

SETAX

SETAX Risk / Return Rank: 9
SETAX Sharpe Ratio Rank: 8
SETAX Sortino Ratio Rank: 8
SETAX Omega Ratio Rank: 8
SETAX Calmar Ratio Rank: 10
SETAX Martin Ratio Rank: 11

CREMX

CREMX Risk / Return Rank: 100
CREMX Sharpe Ratio Rank: 100
CREMX Sortino Ratio Rank: 100
CREMX Omega Ratio Rank: 100
CREMX Calmar Ratio Rank: 100
CREMX Martin Ratio Rank: 100

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.

SETAX vs. CREMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SEI Institutional Managed Trust Real Estate Fund (SETAX) and Redwood Real Estate Income Fund (CREMX). 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.

	SETAX	CREMX	Difference
Sharpe ratio Return per unit of total volatility	0.17	10.81	-10.63
Sortino ratio Return per unit of downside risk	0.35	14.46	-14.11
Omega ratio Gain probability vs. loss probability	1.05	13.62	-12.57
Calmar ratio Return relative to maximum drawdown	0.22	16.19	-15.97
Martin ratio Return relative to average drawdown	0.86	101.79	-100.93
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SETAX vs. CREMX - Sharpe Ratio Comparison

The current SETAX Sharpe Ratio is 0.17, which is lower than the CREMX Sharpe Ratio of 10.81. The chart below compares the historical Sharpe Ratios of SETAX and CREMX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	SETAX	CREMX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.17	10.81	-10.63
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.28	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.26	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.28	8.81	-8.53

Correlation

The correlation between SETAX and CREMX is -0.00. 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

SETAX vs. CREMX - Dividend Comparison

SETAX's dividend yield for the trailing twelve months is around 11.67%, more than CREMX's 6.66% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SETAX SEI Institutional Managed Trust Real Estate Fund	11.67%	11.86%	5.19%	2.10%	5.36%	6.86%	6.34%	8.59%	17.07%	8.65%	13.65%	5.99%
CREMX Redwood Real Estate Income Fund	6.66%	7.38%	7.64%	1.98%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

SETAX vs. CREMX - Drawdown Comparison

The maximum SETAX drawdown since its inception was -75.06%, which is greater than CREMX's maximum drawdown of -0.71%. Use the drawdown chart below to compare losses from any high point for SETAX and CREMX.

Drawdown Indicators

	SETAX	CREMX	Difference
Max Drawdown Largest peak-to-trough decline	-75.06%	-0.71%	-74.35%
Max Drawdown (1Y) Largest decline over 1 year	-12.11%	-0.04%	-12.07%
Max Drawdown (5Y) Largest decline over 5 years	-32.26%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-41.32%	—	—
Current Drawdown Current decline from peak	-7.42%	0.00%	-7.42%
Average Drawdown Average peak-to-trough decline	-14.04%	-0.02%	-14.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.03%	0.08%	+2.95%

Volatility

SETAX vs. CREMX - Volatility Comparison

SEI Institutional Managed Trust Real Estate Fund (SETAX) has a higher volatility of 4.13% compared to Redwood Real Estate Income Fund (CREMX) at 0.11%. This indicates that SETAX's price experiences larger fluctuations and is considered to be riskier than CREMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SETAX	CREMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.13%	0.11%	+4.02%
Volatility (6M) Calculated over the trailing 6-month period	9.00%	0.29%	+8.71%
Volatility (1Y) Calculated over the trailing 1-year period	15.99%	0.67%	+15.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.18%	0.89%	+18.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.12%	0.89%	+20.23%