SGOAX vs. SBDAX

Last updated Jun 23, 2026

SGOAX (SEI Asset Allocation Trust Market Growth Strategy Allocation Fund) and SBDAX (SEI Tax Exempt Trust California Municipal Bond Fund) are both mutual funds - SGOAX is a Diversified Portfolio fund managed by SEI, while SBDAX is a Municipal Bonds fund managed by SEI. Over the past 10 years, SGOAX returned 10.96%/yr vs 1.20%/yr for SBDAX. At a correlation of -0.08, they often move in opposite directions. SGOAX charges 0.35%/yr vs 0.60%/yr for SBDAX.

Performance

SGOAX vs. SBDAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SEI Asset Allocation Trust Market Growth Strategy Allocation Fund (SGOAX) and SEI Tax Exempt Trust California Municipal Bond Fund (SBDAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SGOAX achieves a 8.85% return, which is significantly higher than SBDAX's 0.27% return. Over the past 10 years, SGOAX has outperformed SBDAX with an annualized return of 10.96%, while SBDAX has yielded a comparatively lower 1.20% annualized return.

SGOAX

• 1D: 0.61%
• 1M: 0.87%
• YTD: 8.85%
• 6M: 8.29%
• 1Y: 23.05%
• 3Y*: 15.56%
• 5Y*: 9.28%
• 10Y*: 10.96%

SBDAX

• 1D: 0.10%
• 1M: 1.28%
• YTD: 0.27%
• 6M: 0.66%
• 1Y: 5.25%
• 3Y*: 3.00%
• 5Y*: 0.38%
• 10Y*: 1.20%

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

SGOAX vs. SBDAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SGOAX SEI Asset Allocation Trust Market Growth Strategy Allocation Fund	8.85%	18.47%	11.84%	16.09%	-14.30%	20.90%	11.23%	24.41%	-8.90%	20.12%
SBDAX SEI Tax Exempt Trust California Municipal Bond Fund	0.27%	5.70%	0.02%	4.02%	-7.30%	-0.55%	3.76%	5.90%	0.87%	3.74%

Correlation

The correlation between SGOAX and SBDAX is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.29
Correlation (3Y) Calculated over the trailing 3-year period	0.20
Correlation (5Y) Calculated over the trailing 5-year period	0.13
Correlation (10Y) Calculated over the trailing 10-year period	0.03
Correlation (All Time) Calculated using the full available price history since Jan 2, 2004	-0.08

The correlation between SGOAX and SBDAX shifts across timeframes, from -0.08 (all time) to 0.29 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

SGOAX vs. SBDAX — Risk / Return Rank

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

SGOAX

SGOAX Risk / Return Rank: 63
SGOAX Sharpe Ratio Rank: 64
SGOAX Sortino Ratio Rank: 65
SGOAX Omega Ratio Rank: 59
SGOAX Calmar Ratio Rank: 59
SGOAX Martin Ratio Rank: 67

SBDAX

SBDAX Risk / Return Rank: 54
SBDAX Sharpe Ratio Rank: 74
SBDAX Sortino Ratio Rank: 72
SBDAX Omega Ratio Rank: 87
SBDAX Calmar Ratio Rank: 20
SBDAX Martin Ratio Rank: 17

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.

SGOAX vs. SBDAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SEI Asset Allocation Trust Market Growth Strategy Allocation Fund (SGOAX) and SEI Tax Exempt Trust California Municipal Bond Fund (SBDAX). 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.

	SGOAX	SBDAX	Difference
Sharpe ratio: Return per unit of total volatility	2.15	2.30	-0.15
Sortino ratio: Return per unit of downside risk	3.07	3.22	-0.15
Omega ratio: Gain probability vs. loss probability	1.39	1.57	-0.18
Calmar ratio: Return relative to maximum drawdown	2.82	1.55	+1.27
Martin ratio: Return relative to average drawdown	12.15	4.19	+7.96

SGOAX vs. SBDAX - Sharpe Ratio Comparison

The current SGOAX Sharpe Ratio is 2.15, which is comparable to the SBDAX Sharpe Ratio of 2.30. The chart below compares the historical Sharpe Ratios of SGOAX and SBDAX, 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

SGOAX vs. SBDAX - Drawdown Comparison

The maximum SGOAX drawdown since its inception was -56.17%, which is greater than SBDAX's maximum drawdown of -11.86%. Use the drawdown chart below to compare losses from any high point for SGOAX and SBDAX.

Drawdown Indicators

	SGOAX	SBDAX	Difference
Max Drawdown Largest peak-to-trough decline	-56.17%	-11.86%	-44.31%
Max Drawdown (1Y) Largest decline over 1 year	-8.13%	-3.40%	-4.73%
Max Drawdown (3Y) Largest decline over 3 years	-16.62%	-4.47%	-12.15%
Max Drawdown (5Y) Largest decline over 5 years	-24.93%	-11.86%	-13.07%
Max Drawdown (10Y) Largest decline over 10 years	-34.51%	-11.86%	-22.65%
Current Drawdown Current decline from peak	-0.60%	-1.78%	+1.18%
Average Drawdown Average peak-to-trough decline	-7.77%	-1.87%	-5.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.88%	1.26%	+0.62%

Volatility

SGOAX vs. SBDAX - Volatility Comparison

SEI Asset Allocation Trust Market Growth Strategy Allocation Fund (SGOAX) has a higher volatility of 3.47% compared to SEI Tax Exempt Trust California Municipal Bond Fund (SBDAX) at 0.57%. This indicates that SGOAX's price experiences larger fluctuations and is considered to be riskier than SBDAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SGOAX	SBDAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.47%	0.57%	+2.90%
Volatility (6M) Calculated over the trailing 6-month period	8.41%	1.87%	+6.54%
Volatility (1Y) Calculated over the trailing 1-year period	10.66%	2.29%	+8.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.60%	3.19%	+11.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.89%	3.56%	+12.33%

SGOAX vs. SBDAX - Expense Ratio Comparison

SGOAX has a 0.35% expense ratio, which is lower than SBDAX's 0.60% expense ratio.

Dividends

SGOAX vs. SBDAX - Dividend Comparison

SGOAX's dividend yield for the trailing twelve months is around 10.61%, more than SBDAX's 2.17% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SBDAX SEI Tax Exempt Trust California Municipal Bond Fund	2.17%	2.74%	1.78%	1.26%	1.38%	1.35%	1.87%	2.21%	1.98%	1.99%	2.23%	2.79%
SGOAX SEI Asset Allocation Trust Market Growth Strategy Allocation Fund	10.61%	11.42%	7.07%	5.57%	9.97%	6.00%	5.12%	3.55%	2.42%	1.23%	1.29%	1.14%

Frequently Asked Questions

Can I hold both SGOAX and SBDAX in my portfolio?

SGOAX and SBDAX have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SGOAX or SBDAX?

SGOAX has higher volatility (3.47%) compared to SBDAX (0.57%). In terms of maximum drawdown, SGOAX dropped -56.17% vs SBDAX's -11.86%.

Which has better risk-adjusted returns?

SBDAX currently has the higher Sharpe Ratio (2.30 vs 2.15), 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.