SITEX vs. PYELX

Last updated Aug 4, 2026

SITEX (SEI Institutional International Trust Emerging Markets Debt Fund) and PYELX (Payden Emerging Markets Local Bond Fund) are both Emerging Markets Bonds funds. Over the past 10 years, SITEX returned 3.28%/yr vs 9.91%/yr for PYELX. Their 0.79 correlation means they have sometimes moved together and sometimes differently. SITEX charges 1.36%/yr vs 0.09%/yr for PYELX.

Performance

SITEX vs. PYELX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SEI Institutional International Trust Emerging Markets Debt Fund (SITEX) and Payden Emerging Markets Local Bond Fund (PYELX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SITEX achieves a 3.52% return, which is significantly higher than PYELX's 1.46% return. Over the past 10 years, SITEX has underperformed PYELX with an annualized return of 3.28%, while PYELX has yielded a comparatively higher 9.91% annualized return.

SITEX

• 1D: 0.00%
• 1M: -0.56%
• 6M: 0.97%
• YTD: 3.52%
• 1Y: 12.32%
• 3Y*: 9.82%
• 5Y*: 3.32%
• 10Y*: 3.28%
• ALL TIME*: 6.53%

PYELX

• 1D: 0.10%
• 1M: -0.01%
• 6M: -0.52%
• YTD: 1.46%
• 1Y: 9.07%
• 3Y*: 33.92%
• 5Y*: 17.67%
• 10Y*: 9.91%
• ALL TIME*: 6.13%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
PYELX Payden Emerging Markets Local Bond Fund	$0.00	$0.00	$0.00
SITEX SEI Institutional International Trust Emerging Markets Debt Fund	$0.00	$0.00	$0.00

SITEX vs. PYELX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SITEX SEI Institutional International Trust Emerging Markets Debt Fund	3.52%	19.86%	2.65%	13.56%	-15.44%	-5.84%	4.04%	14.37%	-8.72%	14.26%
PYELX Payden Emerging Markets Local Bond Fund	1.46%	139.58%	-3.48%	13.16%	-11.28%	-7.83%	1.79%	13.92%	-8.16%	15.38%

Correlation

The correlation between SITEX and PYELX is 0.84, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.84
Correlation (3Y) Balances recent behavior with more history.	0.77
Correlation (5Y) Shows whether the relationship held over a longer period.	0.79
Correlation (10Y) Provides a long-term view across more market conditions.	0.78
Correlation (All Time) Calculated using the full available price history since Jan 3, 2012	0.79

The correlation between SITEX and PYELX has been stable across timeframes, ranging from 0.77 to 0.84 - a consistent structural relationship.

Return for Risk

SITEX vs. PYELX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

SITEX

SITEX Risk / Return Rank: 79
SITEX Sharpe Ratio Rank: 87
SITEX Sortino Ratio Rank: 90
SITEX Omega Ratio Rank: 88
SITEX Calmar Ratio Rank: 66
SITEX Martin Ratio Rank: 65

PYELX

PYELX Risk / Return Rank: 40
PYELX Sharpe Ratio Rank: 48
PYELX Sortino Ratio Rank: 47
PYELX Omega Ratio Rank: 53
PYELX Calmar Ratio Rank: 27
PYELX Martin Ratio Rank: 26

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

SITEX vs. PYELX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SEI Institutional International Trust Emerging Markets Debt Fund (SITEX) and Payden Emerging Markets Local Bond Fund (PYELX). 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.

	SITEX	PYELX	Difference
Sharpe ratio: Return per unit of total volatility	2.18	1.43	+0.75
Sortino ratio: Return per unit of downside risk	3.40	2.05	+1.35
Omega ratio: Gain probability vs. loss probability	1.45	1.28	+0.17
Calmar ratio: Return relative to maximum drawdown	2.33	1.34	+0.99
Martin ratio: Return relative to average drawdown	8.87	4.03	+4.84

SITEX vs. PYELX - Sharpe Ratio Comparison

The current SITEX Sharpe Ratio is 2.18, which is higher than the PYELX Sharpe Ratio of 1.43. The chart below compares the historical Sharpe Ratios of SITEX and PYELX, 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

SITEX vs. PYELX - Drawdown Comparison

The maximum SITEX drawdown since its inception was -45.23%, which is greater than PYELX's maximum drawdown of -35.29%. Use the drawdown chart below to compare losses from any high point for SITEX and PYELX.

Drawdown Indicators

	SITEX	PYELX	Difference
Max Drawdown Largest peak-to-trough decline	-45.23%	-35.29%	-9.94%
Max Drawdown (1Y) Largest decline over 1 year	-5.56%	-7.22%	+1.66%
Max Drawdown (3Y) Largest decline over 3 years	-6.89%	-8.12%	+1.23%
Max Drawdown (5Y) Largest decline over 5 years	-28.05%	-24.24%	-3.81%
Max Drawdown (10Y) Largest decline over 10 years	-28.92%	-26.58%	-2.34%
Current Drawdown Current decline from peak	-1.07%	-2.34%	+1.27%
Average Drawdown Average peak-to-trough decline	-6.58%	-16.27%	+9.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.44%	2.40%	-0.96%

Volatility

SITEX vs. PYELX - Volatility Comparison

The current volatility for SEI Institutional International Trust Emerging Markets Debt Fund (SITEX) is 1.23%, while Payden Emerging Markets Local Bond Fund (PYELX) has a volatility of 1.72%. This indicates that SITEX experiences smaller price fluctuations and is considered to be less risky than PYELX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SITEX	PYELX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.23%	1.72%	-0.49%
Volatility (6M) Calculated over the trailing 6-month period	5.15%	6.02%	-0.87%
Volatility (1Y) Calculated over the trailing 1-year period	5.93%	6.76%	-0.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.14%	45.33%	-38.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.42%	32.68%	-24.26%

SITEX vs. PYELX - Expense Ratio Comparison

SITEX has a 1.36% expense ratio, which is higher than PYELX's 0.09% expense ratio.

Dividends

SITEX vs. PYELX - Dividend Comparison

SITEX's dividend yield for the trailing twelve months is around 6.29%, less than PYELX's 7.14% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PYELX Payden Emerging Markets Local Bond Fund	7.14%	6.28%	7.08%	5.38%	5.93%	5.36%	4.69%	5.46%	6.67%	6.15%	5.44%	5.26%
SITEX SEI Institutional International Trust Emerging Markets Debt Fund	6.29%	6.27%	5.68%	5.16%	1.62%	3.43%	0.38%	2.18%	2.47%	3.90%	1.58%	0.52%

Frequently Asked Questions

Can I hold both SITEX and PYELX in my portfolio?

SITEX and PYELX have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SITEX or PYELX?

PYELX has higher volatility (1.72%) compared to SITEX (1.23%). In terms of maximum drawdown, SITEX dropped -45.23% vs PYELX's -35.29%.

Which has better risk-adjusted returns?

SITEX currently has the higher Sharpe Ratio (2.18 vs 1.43), 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.