SIOAX vs. ABRZX

Last updated Jun 4, 2026

SIOAX (SEI Institutional Managed Trust Multi-Asset Income Fund) and ABRZX (Invesco Balanced-Risk Allocation Fund Class A) are both Tactical Allocation funds. Over the past 10 years, SIOAX returned 5.04%/yr vs 4.91%/yr for ABRZX. A 0.54 correlation means they provide meaningful diversification when combined. SIOAX charges 0.80%/yr vs 1.41%/yr for ABRZX.

Performance

SIOAX vs. ABRZX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SEI Institutional Managed Trust Multi-Asset Income Fund (SIOAX) and Invesco Balanced-Risk Allocation Fund Class A (ABRZX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SIOAX achieves a 2.69% return, which is significantly lower than ABRZX's 21.20% return. Both investments have delivered pretty close results over the past 10 years, with SIOAX having a 5.04% annualized return and ABRZX not far behind at 4.91%.

SIOAX

• 1D: 0.10%
• 1M: 0.55%
• YTD: 2.69%
• 6M: 3.27%
• 1Y: 8.31%
• 3Y*: 9.22%
• 5Y*: 3.78%
• 10Y*: 5.04%

ABRZX

• 1D: 0.82%
• 1M: 2.17%
• YTD: 21.20%
• 6M: 20.90%
• 1Y: 30.30%
• 3Y*: 12.25%
• 5Y*: 4.60%
• 10Y*: 4.91%

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

SIOAX vs. ABRZX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SIOAX SEI Institutional Managed Trust Multi-Asset Income Fund	2.69%	10.08%	7.25%	11.09%	-13.13%	4.50%	5.33%	14.33%	-2.11%	6.77%
ABRZX Invesco Balanced-Risk Allocation Fund Class A	21.20%	8.20%	3.14%	5.97%	-14.96%	9.36%	9.20%	9.43%	-7.01%	9.80%

Correlation

The correlation between SIOAX and ABRZX is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.47
Correlation (3Y) Calculated over the trailing 3-year period	0.55
Correlation (5Y) Calculated over the trailing 5-year period	0.59
Correlation (10Y) Calculated over the trailing 10-year period	0.58
Correlation (All Time) Calculated using the full available price history since Jan 3, 2013	0.54

The correlation between SIOAX and ABRZX shifts across timeframes, from 0.47 (1 year) to 0.59 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

SIOAX vs. ABRZX — Risk / Return Rank

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

SIOAX

SIOAX Risk / Return Rank: 88
SIOAX Sharpe Ratio Rank: 94
SIOAX Sortino Ratio Rank: 95
SIOAX Omega Ratio Rank: 93
SIOAX Calmar Ratio Rank: 78
SIOAX Martin Ratio Rank: 80

ABRZX

ABRZX Risk / Return Rank: 95
ABRZX Sharpe Ratio Rank: 96
ABRZX Sortino Ratio Rank: 92
ABRZX Omega Ratio Rank: 93
ABRZX Calmar Ratio Rank: 98
ABRZX Martin Ratio Rank: 97

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.

SIOAX vs. ABRZX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SEI Institutional Managed Trust Multi-Asset Income Fund (SIOAX) and Invesco Balanced-Risk Allocation Fund Class A (ABRZX). 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.

	SIOAX	ABRZX	Difference
Sharpe ratio: Return per unit of total volatility	3.23	3.49	-0.25
Sortino ratio: Return per unit of downside risk	5.06	4.59	+0.47
Omega ratio: Gain probability vs. loss probability	1.70	1.70	0.00
Calmar ratio: Return relative to maximum drawdown	3.56	7.59	-4.03
Martin ratio: Return relative to average drawdown	15.01	27.46	-12.45
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SIOAX vs. ABRZX - Sharpe Ratio Comparison

The current SIOAX Sharpe Ratio is 3.23, which is comparable to the ABRZX Sharpe Ratio of 3.49. The chart below compares the historical Sharpe Ratios of SIOAX and ABRZX, 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

	SIOAX	ABRZX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.23	3.49	-0.25
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.83	0.38	+0.45
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.00	0.45	+0.54
Sharpe Ratio (All Time) Calculated using the full available price history	1.09	0.63	+0.46

Drawdowns

SIOAX vs. ABRZX - Drawdown Comparison

The maximum SIOAX drawdown since its inception was -22.10%, smaller than the maximum ABRZX drawdown of -26.62%. Use the drawdown chart below to compare losses from any high point for SIOAX and ABRZX.

Drawdown Indicators

	SIOAX	ABRZX	Difference
Max Drawdown Largest peak-to-trough decline	-22.10%	-26.62%	+4.52%
Max Drawdown (1Y) Largest decline over 1 year	-2.34%	-4.07%	+1.73%
Max Drawdown (3Y) Largest decline over 3 years	-4.24%	-18.28%	+14.04%
Max Drawdown (5Y) Largest decline over 5 years	-17.57%	-19.33%	+1.76%
Max Drawdown (10Y) Largest decline over 10 years	-22.10%	-26.62%	+4.52%
Current Drawdown Current decline from peak	-0.03%	0.00%	-0.03%
Average Drawdown Average peak-to-trough decline	-2.33%	-4.74%	+2.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.55%	1.12%	-0.57%

Volatility

SIOAX vs. ABRZX - Volatility Comparison

The current volatility for SEI Institutional Managed Trust Multi-Asset Income Fund (SIOAX) is 0.71%, while Invesco Balanced-Risk Allocation Fund Class A (ABRZX) has a volatility of 2.99%. This indicates that SIOAX experiences smaller price fluctuations and is considered to be less risky than ABRZX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SIOAX	ABRZX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.71%	2.99%	-2.28%
Volatility (6M) Calculated over the trailing 6-month period	2.04%	7.89%	-5.85%
Volatility (1Y) Calculated over the trailing 1-year period	2.58%	8.87%	-6.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.57%	12.22%	-7.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.08%	10.90%	-5.82%

SIOAX vs. ABRZX - Expense Ratio Comparison

SIOAX has a 0.80% expense ratio, which is lower than ABRZX's 1.41% expense ratio.

Dividends

SIOAX vs. ABRZX - Dividend Comparison

SIOAX's dividend yield for the trailing twelve months is around 5.51%, more than ABRZX's 2.79% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ABRZX Invesco Balanced-Risk Allocation Fund Class A	2.79%	3.38%	13.28%	2.21%	0.00%	26.02%	1.18%	6.49%	0.00%	6.43%	4.41%	6.91%
SIOAX SEI Institutional Managed Trust Multi-Asset Income Fund	5.51%	5.37%	6.08%	6.49%	6.11%	3.87%	3.05%	4.43%	3.29%	4.31%	4.27%	6.30%

Frequently Asked Questions

Can I hold both SIOAX and ABRZX in my portfolio?

SIOAX and ABRZX have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SIOAX or ABRZX?

ABRZX has higher volatility (2.99%) compared to SIOAX (0.71%). In terms of maximum drawdown, SIOAX dropped -22.10% vs ABRZX's -26.62%.

Which has better risk-adjusted returns?

ABRZX currently has the higher Sharpe Ratio (3.49 vs 3.23), 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.