SFLTX vs. TFCYX

Last updated Jul 17, 2026

SFLTX (Virtus Seix High Grade Municipal Bond Fund) and TFCYX (SEI Institutional Managed Trust Tax-Free Conservative Income Fund) are both Municipal Bonds funds. At a 0.20 correlation, their price movements are largely independent. SFLTX charges 0.74%/yr vs 0.13%/yr for TFCYX.

Performance

SFLTX vs. TFCYX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Virtus Seix High Grade Municipal Bond Fund (SFLTX) and SEI Institutional Managed Trust Tax-Free Conservative Income Fund (TFCYX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

SFLTX

• 1D: —
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

TFCYX

• 1D: 0.00%
• 1M: 0.19%
• 6M: 1.11%
• YTD: 1.11%
• 1Y: 2.33%
• 3Y*: 2.84%
• 5Y*: 2.11%
• 10Y*: —

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

SFLTX vs. TFCYX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SFLTX Virtus Seix High Grade Municipal Bond Fund	1.19%	3.51%	-0.51%	6.29%	-8.67%	0.05%	6.67%	7.55%	0.22%	5.40%
TFCYX SEI Institutional Managed Trust Tax-Free Conservative Income Fund	1.11%	2.71%	3.24%	2.77%	0.72%	0.10%	0.46%	1.40%	1.25%	0.69%

Correlation

The correlation between SFLTX and TFCYX is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.24
Correlation (3Y) Calculated over the trailing 3-year period	0.22
Correlation (5Y) Calculated over the trailing 5-year period	0.20
Correlation (All Time) Calculated using the full available price history since Jan 3, 2017	0.20

Return for Risk

SFLTX vs. TFCYX — Risk / Return Rank

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

SFLTX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

TFCYX

TFCYX Risk / Return Rank: 99
TFCYX Sharpe Ratio Rank: 98
TFCYX Sortino Ratio Rank: 99
TFCYX Omega Ratio Rank: 100
TFCYX Calmar Ratio Rank: 100
TFCYX Martin Ratio Rank: 99

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.

SFLTX vs. TFCYX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Virtus Seix High Grade Municipal Bond Fund (SFLTX) and SEI Institutional Managed Trust Tax-Free Conservative Income Fund (TFCYX). 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.

	SFLTX	TFCYX	Difference
Sharpe ratio: Return per unit of total volatility	—	3.16	—
Sortino ratio: Return per unit of downside risk	—	10.35	—
Omega ratio: Gain probability vs. loss probability	—	5.62	—
Calmar ratio: Return relative to maximum drawdown	—	23.43	—
Martin ratio: Return relative to average drawdown	—	71.45	—

Drawdowns

Drawdown Indicators

	SFLTX	TFCYX	Difference
Max Drawdown Largest peak-to-trough decline	—	-1.10%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-0.10%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-1.10%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-1.10%	—
Current Drawdown Current decline from peak	—	0.00%	—
Average Drawdown Average peak-to-trough decline	—	-0.02%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.03%	—

Volatility

Volatility by Period

	SFLTX	TFCYX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.19%	—
Volatility (6M) Calculated over the trailing 6-month period	—	0.52%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	0.74%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	1.22%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	0.91%	—

SFLTX vs. TFCYX - Expense Ratio Comparison

SFLTX has a 0.74% expense ratio, which is higher than TFCYX's 0.13% expense ratio.

Dividends

SFLTX vs. TFCYX - Dividend Comparison

SFLTX's dividend yield for the trailing twelve months is around 3.00%, more than TFCYX's 2.40% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SFLTX Virtus Seix High Grade Municipal Bond Fund	3.00%	2.94%	2.28%	2.34%	2.05%	2.02%	3.45%	3.66%	2.93%	2.43%	5.99%	3.10%
TFCYX SEI Institutional Managed Trust Tax-Free Conservative Income Fund	2.40%	2.68%	3.19%	2.63%	0.72%	0.00%	0.46%	1.39%	1.24%	0.68%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SFLTX and TFCYX in my portfolio?

SFLTX and TFCYX have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.