SLCAX vs. SPINX

Last updated Jun 3, 2026

SLCAX (SEI Institutional Investments Trust Large Cap Fund) and SPINX (SEI Institutional Investments Trust S&P 500 Index Fund) are both mutual funds - SLCAX is a Large Cap Blend Equities fund managed by SEI, while SPINX is a S&P 500 fund tracking the S&P 500 Index. Over the past 10 years, SLCAX returned 13.36%/yr vs 15.49%/yr for SPINX. With a 0.97 correlation, they move nearly in lockstep. SLCAX charges 0.47%/yr vs 0.12%/yr for SPINX.

Performance

SLCAX vs. SPINX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SEI Institutional Investments Trust Large Cap Fund (SLCAX) and SEI Institutional Investments Trust S&P 500 Index Fund (SPINX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with SLCAX having a 11.07% return and SPINX slightly higher at 11.50%. Over the past 10 years, SLCAX has underperformed SPINX with an annualized return of 13.36%, while SPINX has yielded a comparatively higher 15.49% annualized return.

SLCAX

• 1D: 0.35%
• 1M: 3.76%
• YTD: 11.07%
• 6M: 12.02%
• 1Y: 27.99%
• 3Y*: 20.86%
• 5Y*: 11.91%
• 10Y*: 13.36%

SPINX

• 1D: 0.26%
• 1M: 5.21%
• YTD: 11.50%
• 6M: 11.99%
• 1Y: 29.60%
• 3Y*: 22.36%
• 5Y*: 13.92%
• 10Y*: 15.49%

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

SLCAX vs. SPINX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SLCAX SEI Institutional Investments Trust Large Cap Fund	11.07%	17.94%	20.89%	18.93%	-14.21%	26.47%	11.66%	28.06%	-6.91%	20.99%
SPINX SEI Institutional Investments Trust S&P 500 Index Fund	11.50%	17.89%	24.02%	26.24%	-18.27%	28.62%	18.35%	31.42%	-4.46%	21.74%

Correlation

The correlation between SLCAX and SPINX is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.96
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (10Y) Calculated over the trailing 10-year period	0.97
Correlation (All Time) Calculated using the full available price history since Dec 20, 2013	0.97

The correlation between SLCAX and SPINX has been stable across timeframes, ranging from 0.96 to 0.97 - a consistent structural relationship.

Return for Risk

SLCAX vs. SPINX — Risk / Return Rank

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

SLCAX

SLCAX Risk / Return Rank: 76
SLCAX Sharpe Ratio Rank: 77
SLCAX Sortino Ratio Rank: 72
SLCAX Omega Ratio Rank: 68
SLCAX Calmar Ratio Rank: 78
SLCAX Martin Ratio Rank: 85

SPINX

SPINX Risk / Return Rank: 74
SPINX Sharpe Ratio Rank: 77
SPINX Sortino Ratio Rank: 68
SPINX Omega Ratio Rank: 69
SPINX Calmar Ratio Rank: 74
SPINX Martin Ratio Rank: 84

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.

SLCAX vs. SPINX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SEI Institutional Investments Trust Large Cap Fund (SLCAX) and SEI Institutional Investments Trust S&P 500 Index Fund (SPINX). 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.

	SLCAX	SPINX	Difference
Sharpe ratio Return per unit of total volatility	2.54	2.55	-0.01
Sortino ratio Return per unit of downside risk	3.55	3.45	+0.10
Omega ratio Gain probability vs. loss probability	1.46	1.47	-0.01
Calmar ratio Return relative to maximum drawdown	3.54	3.38	+0.16
Martin ratio Return relative to average drawdown	16.34	15.83	+0.50
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SLCAX vs. SPINX - Sharpe Ratio Comparison

The current SLCAX Sharpe Ratio is 2.54, which is comparable to the SPINX Sharpe Ratio of 2.55. The chart below compares the historical Sharpe Ratios of SLCAX and SPINX, 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

	SLCAX	SPINX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.54	2.55	-0.01
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.58	0.62	-0.05
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.67	0.74	-0.08
Sharpe Ratio (All Time) Calculated using the full available price history	0.45	0.72	-0.27

Drawdowns

SLCAX vs. SPINX - Drawdown Comparison

The maximum SLCAX drawdown since its inception was -56.24%, which is greater than SPINX's maximum drawdown of -33.82%. Use the drawdown chart below to compare losses from any high point for SLCAX and SPINX.

Drawdown Indicators

	SLCAX	SPINX	Difference
Max Drawdown Largest peak-to-trough decline	-56.24%	-33.82%	-22.42%
Max Drawdown (1Y) Largest decline over 1 year	-8.08%	-8.92%	+0.84%
Max Drawdown (3Y) Largest decline over 3 years	-22.33%	-32.91%	+10.58%
Max Drawdown (5Y) Largest decline over 5 years	-33.95%	-32.91%	-1.04%
Max Drawdown (10Y) Largest decline over 10 years	-35.87%	-33.82%	-2.05%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-10.57%	-5.22%	-5.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.75%	1.90%	-0.15%

Volatility

SLCAX vs. SPINX - Volatility Comparison

The current volatility for SEI Institutional Investments Trust Large Cap Fund (SLCAX) is 2.61%, while SEI Institutional Investments Trust S&P 500 Index Fund (SPINX) has a volatility of 2.83%. This indicates that SLCAX experiences smaller price fluctuations and is considered to be less risky than SPINX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SLCAX	SPINX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.61%	2.83%	-0.22%
Volatility (6M) Calculated over the trailing 6-month period	8.61%	8.98%	-0.37%
Volatility (1Y) Calculated over the trailing 1-year period	11.25%	11.89%	-0.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.79%	22.49%	-1.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.11%	20.95%	-0.84%

SLCAX vs. SPINX - Expense Ratio Comparison

SLCAX has a 0.47% expense ratio, which is higher than SPINX's 0.12% expense ratio.

Dividends

SLCAX vs. SPINX - Dividend Comparison

SLCAX's dividend yield for the trailing twelve months is around 33.77%, more than SPINX's 10.69% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SLCAX SEI Institutional Investments Trust Large Cap Fund	33.77%	37.47%	12.36%	7.46%	13.40%	20.97%	6.89%	11.19%	31.44%	23.33%	5.33%	17.76%
SPINX SEI Institutional Investments Trust S&P 500 Index Fund	10.69%	11.90%	26.02%	9.77%	9.59%	6.58%	3.58%	3.01%	4.94%	2.32%	1.97%	2.29%

Frequently Asked Questions

Can I hold both SLCAX and SPINX in my portfolio?

With a correlation of 0.96, SLCAX and SPINX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, SLCAX or SPINX?

SPINX has higher volatility (2.83%) compared to SLCAX (2.61%). In terms of maximum drawdown, SLCAX dropped -56.24% vs SPINX's -33.82%.

Which has better risk-adjusted returns?

SPINX currently has the higher Sharpe Ratio (2.55 vs 2.54), 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.