SETAX vs. SOAAX
SETAX (SEI Institutional Managed Trust Real Estate Fund) and SOAAX (Spirit of America Real Estate Income & Growth Fund) are both REIT funds. Over the past 10 years, SETAX returned 6.41%/yr vs 5.14%/yr for SOAAX. With a 0.97 correlation, they move nearly in lockstep. SETAX charges 1.14%/yr vs 1.52%/yr for SOAAX.
Performance
SETAX vs. SOAAX - Performance Comparison
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Returns By Period
In the year-to-date period, SETAX achieves a 10.26% return, which is significantly lower than SOAAX's 11.76% return. Over the past 10 years, SETAX has outperformed SOAAX with an annualized return of 6.41%, while SOAAX has yielded a comparatively lower 5.14% annualized return.
SETAX
- 1D
- 0.31%
- 1M
- -1.05%
- YTD
- 10.26%
- 6M
- 9.68%
- 1Y
- 11.38%
- 3Y*
- 11.80%
- 5Y*
- 4.62%
- 10Y*
- 6.41%
SOAAX
- 1D
- 0.34%
- 1M
- -1.65%
- YTD
- 11.76%
- 6M
- 10.35%
- 1Y
- 11.63%
- 3Y*
- 8.63%
- 5Y*
- 2.84%
- 10Y*
- 5.14%
SETAX vs. SOAAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SETAX SEI Institutional Managed Trust Real Estate Fund | 10.26% | 1.90% | 10.63% | 15.75% | -25.85% | 44.05% | -3.51% | 25.14% | -5.87% | 5.17% |
SOAAX Spirit of America Real Estate Income & Growth Fund | 11.76% | -0.90% | 7.57% | 9.60% | -28.40% | 42.01% | -5.06% | 28.09% | -6.82% | 6.80% |
Correlation
The correlation between SETAX and SOAAX is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.97 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.97 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.98 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.97 |
Correlation (All Time) Calculated using the full available price history since Jan 5, 2004 | 0.97 |
The correlation between SETAX and SOAAX has been stable across timeframes, ranging from 0.97 to 0.98 - a consistent structural relationship.
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Return for Risk
SETAX vs. SOAAX — Risk / Return Rank
SETAX
SOAAX
SETAX vs. SOAAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SEI Institutional Managed Trust Real Estate Fund (SETAX) and Spirit of America Real Estate Income & Growth Fund (SOAAX). 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 | SOAAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.02 | ||
| Sortino ratioReturn per unit of downside risk | -0.01 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.16 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 1.42 | 1.44 | -0.02 |
| Martin ratioReturn relative to average drawdown | 4.29 | 4.32 | -0.04 |
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
| SETAX | SOAAX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.86 | 0.87 | -0.02 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.24 | 0.16 | +0.09 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.30 | 0.26 | +0.04 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.29 | 0.26 | +0.03 |
Drawdowns
SETAX vs. SOAAX - Drawdown Comparison
The maximum SETAX drawdown since its inception was -75.06%, roughly equal to the maximum SOAAX drawdown of -78.19%. Use the drawdown chart below to compare losses from any high point for SETAX and SOAAX.
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Drawdown Indicators
| SETAX | SOAAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -75.06% | -78.19% | +3.13% |
Max Drawdown (1Y)Largest decline over 1 year | -7.80% | -7.74% | -0.06% |
Max Drawdown (3Y)Largest decline over 3 years | -16.95% | -19.29% | +2.34% |
Max Drawdown (5Y)Largest decline over 5 years | -32.26% | -36.03% | +3.77% |
Max Drawdown (10Y)Largest decline over 10 years | -41.32% | -41.24% | -0.08% |
Current DrawdownCurrent decline from peak | -3.09% | -6.51% | +3.42% |
Average DrawdownAverage peak-to-trough decline | -13.94% | -14.62% | +0.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.58% | 2.58% | 0.00% |
Volatility
SETAX vs. SOAAX - Volatility Comparison
SEI Institutional Managed Trust Real Estate Fund (SETAX) and Spirit of America Real Estate Income & Growth Fund (SOAAX) have volatilities of 3.83% and 3.68%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SETAX | SOAAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.83% | 3.68% | +0.15% |
Volatility (6M)Calculated over the trailing 6-month period | 9.37% | 9.19% | +0.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.95% | 12.80% | +0.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.17% | 18.24% | +0.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.12% | 19.72% | +1.40% |
SETAX vs. SOAAX - Expense Ratio Comparison
SETAX has a 1.14% expense ratio, which is lower than SOAAX's 1.52% expense ratio.
Dividends
SETAX vs. SOAAX - Dividend Comparison
SETAX's dividend yield for the trailing twelve months is around 10.76%, more than SOAAX's 9.52% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SETAX SEI Institutional Managed Trust Real Estate Fund | 10.76% | 11.86% | 5.19% | 2.10% | 5.36% | 6.86% | 6.34% | 8.59% | 17.07% | 8.65% | 13.65% | 5.99% |
SOAAX Spirit of America Real Estate Income & Growth Fund | 9.52% | 10.64% | 9.53% | 9.32% | 9.32% | 6.12% | 8.13% | 7.11% | 8.47% | 6.87% | 7.18% | 8.97% |
Frequently Asked Questions
With a correlation of 0.97, SETAX and SOAAX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
SETAX has higher volatility (3.83%) compared to SOAAX (3.68%). In terms of maximum drawdown, SETAX dropped -75.06% vs SOAAX's -78.19%.
SOAAX currently has the higher Sharpe Ratio (0.87 vs 0.86), 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.
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