SIFAX vs. MACIX

Last updated Jun 5, 2026

SIFAX (SEI Institutional Managed Trust Multi-Asset Inflation Managed Fund) and MACIX (MFS Conservative Allocation Fund) are both Diversified Portfolio funds. Over the past 10 years, SIFAX returned 3.57%/yr vs 5.97%/yr for MACIX. At a 0.34 correlation, their price movements are largely independent. SIFAX charges 0.90%/yr vs 0.58%/yr for MACIX.

Performance

SIFAX vs. MACIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SEI Institutional Managed Trust Multi-Asset Inflation Managed Fund (SIFAX) and MFS Conservative Allocation Fund (MACIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SIFAX achieves a 8.33% return, which is significantly higher than MACIX's 2.65% return. Over the past 10 years, SIFAX has underperformed MACIX with an annualized return of 3.57%, while MACIX has yielded a comparatively higher 5.97% annualized return.

SIFAX

• 1D: 0.23%
• 1M: -1.04%
• YTD: 8.33%
• 6M: 7.95%
• 1Y: 12.84%
• 3Y*: 7.60%
• 5Y*: 5.81%
• 10Y*: 3.57%

MACIX

• 1D: -0.40%
• 1M: 0.69%
• YTD: 2.65%
• 6M: 2.86%
• 1Y: 8.53%
• 3Y*: 8.41%
• 5Y*: 3.61%
• 10Y*: 5.97%

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

SIFAX vs. MACIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SIFAX SEI Institutional Managed Trust Multi-Asset Inflation Managed Fund	8.33%	7.82%	4.08%	-1.74%	8.48%	10.83%	-1.59%	5.68%	-3.64%	-1.96%
MACIX MFS Conservative Allocation Fund	2.65%	9.32%	6.88%	10.74%	-13.30%	8.15%	11.88%	17.36%	-2.82%	11.04%

Correlation

The correlation between SIFAX and MACIX is -0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.08
Correlation (3Y) Calculated over the trailing 3-year period	0.11
Correlation (5Y) Calculated over the trailing 5-year period	0.20
Correlation (10Y) Calculated over the trailing 10-year period	0.30
Correlation (All Time) Calculated using the full available price history since Jan 3, 2013	0.34

The correlation between SIFAX and MACIX shifts across timeframes, from -0.08 (1 year) to 0.34 (all time), reflecting how their relationship changes across market environments.

Return for Risk

SIFAX vs. MACIX — Risk / Return Rank

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

SIFAX

SIFAX Risk / Return Rank: 76
SIFAX Sharpe Ratio Rank: 65
SIFAX Sortino Ratio Rank: 68
SIFAX Omega Ratio Rank: 66
SIFAX Calmar Ratio Rank: 93
SIFAX Martin Ratio Rank: 88

MACIX

MACIX Risk / Return Rank: 34
MACIX Sharpe Ratio Rank: 36
MACIX Sortino Ratio Rank: 35
MACIX Omega Ratio Rank: 37
MACIX Calmar Ratio Rank: 24
MACIX Martin Ratio Rank: 36

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.

SIFAX vs. MACIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SEI Institutional Managed Trust Multi-Asset Inflation Managed Fund (SIFAX) and MFS Conservative Allocation Fund (MACIX). 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.

	SIFAX	MACIX	Difference
Sharpe ratio: Return per unit of total volatility	2.36	1.71	+0.65
Sortino ratio: Return per unit of downside risk	3.42	2.46	+0.96
Omega ratio: Gain probability vs. loss probability	1.45	1.32	+0.13
Calmar ratio: Return relative to maximum drawdown	5.29	1.78	+3.52
Martin ratio: Return relative to average drawdown	16.74	7.85	+8.89
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SIFAX vs. MACIX - Sharpe Ratio Comparison

The current SIFAX Sharpe Ratio is 2.36, which is higher than the MACIX Sharpe Ratio of 1.71. The chart below compares the historical Sharpe Ratios of SIFAX and MACIX, 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

	SIFAX	MACIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.36	1.71	+0.65
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.04	0.51	+0.54
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.69	0.84	-0.15
Sharpe Ratio (All Time) Calculated using the full available price history	0.34	0.81	-0.47

Drawdowns

SIFAX vs. MACIX - Drawdown Comparison

The maximum SIFAX drawdown since its inception was -23.62%, smaller than the maximum MACIX drawdown of -25.35%. Use the drawdown chart below to compare losses from any high point for SIFAX and MACIX.

Drawdown Indicators

	SIFAX	MACIX	Difference
Max Drawdown Largest peak-to-trough decline	-23.62%	-25.35%	+1.73%
Max Drawdown (1Y) Largest decline over 1 year	-2.41%	-5.04%	+2.63%
Max Drawdown (3Y) Largest decline over 3 years	-3.57%	-6.42%	+2.85%
Max Drawdown (5Y) Largest decline over 5 years	-8.32%	-18.41%	+10.09%
Max Drawdown (10Y) Largest decline over 10 years	-14.69%	-18.41%	+3.72%
Current Drawdown Current decline from peak	-1.61%	-0.40%	-1.21%
Average Drawdown Average peak-to-trough decline	-8.55%	-2.60%	-5.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.76%	1.14%	-0.38%

Volatility

SIFAX vs. MACIX - Volatility Comparison

SEI Institutional Managed Trust Multi-Asset Inflation Managed Fund (SIFAX) has a higher volatility of 2.16% compared to MFS Conservative Allocation Fund (MACIX) at 1.65%. This indicates that SIFAX's price experiences larger fluctuations and is considered to be riskier than MACIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SIFAX	MACIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.16%	1.65%	+0.51%
Volatility (6M) Calculated over the trailing 6-month period	4.70%	4.25%	+0.45%
Volatility (1Y) Calculated over the trailing 1-year period	5.41%	5.24%	+0.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.60%	7.17%	-1.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.22%	7.14%	-1.92%

SIFAX vs. MACIX - Expense Ratio Comparison

SIFAX has a 0.90% expense ratio, which is higher than MACIX's 0.58% expense ratio.

Dividends

SIFAX vs. MACIX - Dividend Comparison

SIFAX's dividend yield for the trailing twelve months is around 4.20%, less than MACIX's 5.91% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MACIX MFS Conservative Allocation Fund	5.91%	6.07%	7.08%	3.47%	3.61%	3.89%	3.01%	3.65%	5.14%	4.60%	2.76%	1.95%
SIFAX SEI Institutional Managed Trust Multi-Asset Inflation Managed Fund	4.20%	4.55%	3.25%	3.82%	11.90%	7.89%	1.45%	1.49%	1.90%	1.39%	1.15%	0.48%

Frequently Asked Questions

Can I hold both SIFAX and MACIX in my portfolio?

SIFAX and MACIX have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SIFAX or MACIX?

SIFAX has higher volatility (2.16%) compared to MACIX (1.65%). In terms of maximum drawdown, SIFAX dropped -23.62% vs MACIX's -25.35%.

Which has better risk-adjusted returns?

SIFAX currently has the higher Sharpe Ratio (2.36 vs 1.71), 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.