SGYAX vs. ENIAX

Last updated Jun 5, 2026

SGYAX (SEI Institutional Investments Trust High Yield Bond Fund) and ENIAX (SEI Institutional Investments Trust Opportunistic Income Fund) are both mutual funds - SGYAX is a High Yield Bonds fund managed by SEI, while ENIAX is a Ultrashort Bond fund managed by SEI. Over the past 10 years, SGYAX returned 5.88%/yr vs 4.17%/yr for ENIAX. At a 0.40 correlation, their price movements are largely independent. SGYAX charges 0.56%/yr vs 0.23%/yr for ENIAX.

Performance

SGYAX vs. ENIAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SEI Institutional Investments Trust High Yield Bond Fund (SGYAX) and SEI Institutional Investments Trust Opportunistic Income Fund (ENIAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SGYAX achieves a 1.44% return, which is significantly lower than ENIAX's 1.52% return. Over the past 10 years, SGYAX has outperformed ENIAX with an annualized return of 5.88%, while ENIAX has yielded a comparatively lower 4.17% annualized return.

SGYAX

• 1D: -0.14%
• 1M: 0.35%
• YTD: 1.44%
• 6M: 2.02%
• 1Y: 6.83%
• 3Y*: 8.58%
• 5Y*: 3.61%
• 10Y*: 5.88%

ENIAX

• 1D: 0.00%
• 1M: 0.38%
• YTD: 1.52%
• 6M: 1.93%
• 1Y: 5.15%
• 3Y*: 6.69%
• 5Y*: 4.69%
• 10Y*: 4.17%

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

SGYAX vs. ENIAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SGYAX SEI Institutional Investments Trust High Yield Bond Fund	1.44%	8.01%	9.12%	10.89%	-13.29%	9.62%	6.04%	14.01%	-2.04%	8.08%
ENIAX SEI Institutional Investments Trust Opportunistic Income Fund	1.52%	6.14%	8.34%	7.94%	-1.16%	2.67%	2.47%	5.82%	1.82%	3.93%

Correlation

The correlation between SGYAX and ENIAX is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.16
Correlation (3Y) Calculated over the trailing 3-year period	0.20
Correlation (5Y) Calculated over the trailing 5-year period	0.32
Correlation (10Y) Calculated over the trailing 10-year period	0.33
Correlation (All Time) Calculated using the full available price history since Sep 5, 2007	0.40

Over the past year, the correlation between SGYAX and ENIAX has dropped to 0.16 - well below their long-term average of 0.40, suggesting their price drivers have been diverging.

Return for Risk

SGYAX vs. ENIAX — Risk / Return Rank

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

SGYAX

SGYAX Risk / Return Rank: 59
SGYAX Sharpe Ratio Rank: 46
SGYAX Sortino Ratio Rank: 78
SGYAX Omega Ratio Rank: 75
SGYAX Calmar Ratio Rank: 43
SGYAX Martin Ratio Rank: 52

ENIAX

ENIAX Risk / Return Rank: 100
ENIAX Sharpe Ratio Rank: 100
ENIAX Sortino Ratio Rank: 100
ENIAX Omega Ratio Rank: 99
ENIAX Calmar Ratio Rank: 99
ENIAX 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.

SGYAX vs. ENIAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SEI Institutional Investments Trust High Yield Bond Fund (SGYAX) and SEI Institutional Investments Trust Opportunistic Income Fund (ENIAX). 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.

	SGYAX	ENIAX	Difference
Sharpe ratio: Return per unit of total volatility	2.00	5.58	-3.58
Sortino ratio: Return per unit of downside risk	3.76	11.95	-8.19
Omega ratio: Gain probability vs. loss probability	1.49	4.44	-2.95
Calmar ratio: Return relative to maximum drawdown	2.47	14.18	-11.70
Martin ratio: Return relative to average drawdown	10.56	87.74	-77.17
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SGYAX vs. ENIAX - Sharpe Ratio Comparison

The current SGYAX Sharpe Ratio is 2.00, which is lower than the ENIAX Sharpe Ratio of 5.58. The chart below compares the historical Sharpe Ratios of SGYAX and ENIAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SGYAX	ENIAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.00	5.58	-3.58
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.76	1.65	-0.89
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.11	1.50	-0.39
Sharpe Ratio (All Time) Calculated using the full available price history	0.63	0.67	-0.04

Drawdowns

SGYAX vs. ENIAX - Drawdown Comparison

The maximum SGYAX drawdown since its inception was -45.51%, which is greater than ENIAX's maximum drawdown of -33.30%. Use the drawdown chart below to compare losses from any high point for SGYAX and ENIAX.

Drawdown Indicators

	SGYAX	ENIAX	Difference
Max Drawdown Largest peak-to-trough decline	-45.51%	-33.30%	-12.21%
Max Drawdown (1Y) Largest decline over 1 year	-2.77%	-0.37%	-2.40%
Max Drawdown (3Y) Largest decline over 3 years	-4.18%	-2.11%	-2.07%
Max Drawdown (5Y) Largest decline over 5 years	-15.45%	-3.52%	-11.93%
Max Drawdown (10Y) Largest decline over 10 years	-21.85%	-13.45%	-8.40%
Current Drawdown Current decline from peak	-0.14%	0.00%	-0.14%
Average Drawdown Average peak-to-trough decline	-6.05%	-7.79%	+1.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.65%	0.06%	+0.59%

Volatility

SGYAX vs. ENIAX - Volatility Comparison

SEI Institutional Investments Trust High Yield Bond Fund (SGYAX) has a higher volatility of 1.02% compared to SEI Institutional Investments Trust Opportunistic Income Fund (ENIAX) at 0.21%. This indicates that SGYAX's price experiences larger fluctuations and is considered to be riskier than ENIAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SGYAX	ENIAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.02%	0.21%	+0.81%
Volatility (6M) Calculated over the trailing 6-month period	2.68%	0.69%	+1.99%
Volatility (1Y) Calculated over the trailing 1-year period	3.43%	0.95%	+2.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.79%	2.86%	+1.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.31%	2.79%	+2.52%

SGYAX vs. ENIAX - Expense Ratio Comparison

SGYAX has a 0.56% expense ratio, which is higher than ENIAX's 0.23% expense ratio.

Dividends

SGYAX vs. ENIAX - Dividend Comparison

SGYAX's dividend yield for the trailing twelve months is around 8.76%, more than ENIAX's 5.93% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ENIAX SEI Institutional Investments Trust Opportunistic Income Fund	5.93%	6.00%	6.78%	5.33%	4.07%	2.66%	2.96%	4.32%	3.96%	3.02%	2.75%	2.54%
SGYAX SEI Institutional Investments Trust High Yield Bond Fund	8.76%	8.88%	8.68%	10.08%	8.79%	5.37%	7.30%	7.15%	7.31%	7.27%	7.30%	7.88%

Frequently Asked Questions

Can I hold both SGYAX and ENIAX in my portfolio?

SGYAX and ENIAX have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SGYAX or ENIAX?

SGYAX has higher volatility (1.02%) compared to ENIAX (0.21%). In terms of maximum drawdown, SGYAX dropped -45.51% vs ENIAX's -33.30%.

Which has better risk-adjusted returns?

ENIAX currently has the higher Sharpe Ratio (5.58 vs 2.00), 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.