SLDAX vs. BAB

Last updated Jun 3, 2026

SLDAX (SEI Institutional Investments Trust Long Duration Credit Fund) and BAB (Invesco Taxable Municipal Bond ETF) are both funds - SLDAX is a Long-Term Bond fund managed by SEI, while BAB is a Municipal Bonds fund tracking the BofA Merrill Lynch Build America Bond Index. Over the past 10 years, SLDAX returned 1.67%/yr vs 2.24%/yr for BAB. Their correlation of 0.81 suggests significant overlap in exposure. SLDAX charges 0.14%/yr vs 0.28%/yr for BAB.

Performance

SLDAX vs. BAB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SEI Institutional Investments Trust Long Duration Credit Fund (SLDAX) and Invesco Taxable Municipal Bond ETF (BAB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SLDAX achieves a 0.58% return, which is significantly higher than BAB's 0.12% return. Over the past 10 years, SLDAX has underperformed BAB with an annualized return of 1.67%, while BAB has yielded a comparatively higher 2.24% annualized return.

SLDAX

• 1D: -0.13%
• 1M: 0.97%
• YTD: 0.58%
• 6M: -0.13%
• 1Y: 7.57%
• 3Y*: 3.20%
• 5Y*: -2.71%
• 10Y*: 1.67%

BAB

• 1D: 0.19%
• 1M: -0.08%
• YTD: 0.12%
• 6M: 0.14%
• 1Y: 7.08%
• 3Y*: 4.42%
• 5Y*: -0.29%
• 10Y*: 2.24%

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

SLDAX vs. BAB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SLDAX SEI Institutional Investments Trust Long Duration Credit Fund	0.58%	7.37%	-2.78%	8.14%	-26.58%	-2.80%	16.56%	21.45%	-6.23%	11.67%
BAB Invesco Taxable Municipal Bond ETF	0.12%	8.30%	1.03%	8.67%	-19.50%	1.00%	9.11%	10.85%	0.93%	9.87%

Correlation

The correlation between SLDAX and BAB is 0.79, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.79
Correlation (3Y) Calculated over the trailing 3-year period	0.84
Correlation (5Y) Calculated over the trailing 5-year period	0.87
Correlation (10Y) Calculated over the trailing 10-year period	0.82
Correlation (All Time) Calculated using the full available price history since Jul 3, 2012	0.81

The correlation between SLDAX and BAB has been stable across timeframes, ranging from 0.79 to 0.87 - a consistent structural relationship.

Return for Risk

SLDAX vs. BAB — Risk / Return Rank

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

SLDAX

SLDAX Risk / Return Rank: 12
SLDAX Sharpe Ratio Rank: 11
SLDAX Sortino Ratio Rank: 11
SLDAX Omega Ratio Rank: 11
SLDAX Calmar Ratio Rank: 16
SLDAX Martin Ratio Rank: 12

BAB

BAB Risk / Return Rank: 33
BAB Sharpe Ratio Rank: 34
BAB Sortino Ratio Rank: 35
BAB Omega Ratio Rank: 32
BAB Calmar Ratio Rank: 31
BAB Martin Ratio Rank: 31

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.

SLDAX vs. BAB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SEI Institutional Investments Trust Long Duration Credit Fund (SLDAX) and Invesco Taxable Municipal Bond ETF (BAB). 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.

	SLDAX	BAB	Difference
Sharpe ratio Return per unit of total volatility	0.92	1.23	-0.31
Sortino ratio Return per unit of downside risk	1.36	1.89	-0.53
Omega ratio Gain probability vs. loss probability	1.16	1.22	-0.06
Calmar ratio Return relative to maximum drawdown	1.47	1.61	-0.14
Martin ratio Return relative to average drawdown	3.72	4.61	-0.89
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SLDAX vs. BAB - Sharpe Ratio Comparison

The current SLDAX Sharpe Ratio is 0.92, which is comparable to the BAB Sharpe Ratio of 1.23. The chart below compares the historical Sharpe Ratios of SLDAX and BAB, 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

	SLDAX	BAB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.92	1.23	-0.31
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.22	-0.04	-0.19
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.15	0.23	-0.08
Sharpe Ratio (All Time) Calculated using the full available price history	0.23	0.52	-0.29

Drawdowns

SLDAX vs. BAB - Drawdown Comparison

The maximum SLDAX drawdown since its inception was -36.12%, which is greater than BAB's maximum drawdown of -27.80%. Use the drawdown chart below to compare losses from any high point for SLDAX and BAB.

Drawdown Indicators

	SLDAX	BAB	Difference
Max Drawdown Largest peak-to-trough decline	-36.12%	-27.80%	-8.32%
Max Drawdown (1Y) Largest decline over 1 year	-5.19%	-4.15%	-1.04%
Max Drawdown (3Y) Largest decline over 3 years	-13.62%	-7.57%	-6.05%
Max Drawdown (5Y) Largest decline over 5 years	-35.17%	-24.95%	-10.22%
Max Drawdown (10Y) Largest decline over 10 years	-36.12%	-27.80%	-8.32%
Current Drawdown Current decline from peak	-19.82%	-5.64%	-14.18%
Average Drawdown Average peak-to-trough decline	-10.62%	-5.31%	-5.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.05%	1.45%	+0.60%

Volatility

SLDAX vs. BAB - Volatility Comparison

SEI Institutional Investments Trust Long Duration Credit Fund (SLDAX) has a higher volatility of 2.51% compared to Invesco Taxable Municipal Bond ETF (BAB) at 1.77%. This indicates that SLDAX's price experiences larger fluctuations and is considered to be riskier than BAB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SLDAX	BAB	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.51%	1.77%	+0.74%
Volatility (6M) Calculated over the trailing 6-month period	5.50%	3.79%	+1.71%
Volatility (1Y) Calculated over the trailing 1-year period	7.67%	5.81%	+1.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.15%	8.34%	+3.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.27%	9.70%	+1.57%

SLDAX vs. BAB - Expense Ratio Comparison

SLDAX has a 0.14% expense ratio, which is lower than BAB's 0.28% expense ratio.

Dividends

SLDAX vs. BAB - Dividend Comparison

SLDAX's dividend yield for the trailing twelve months is around 5.13%, more than BAB's 4.10% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BAB Invesco Taxable Municipal Bond ETF	4.10%	3.96%	3.97%	3.65%	3.40%	2.63%	2.96%	3.77%	4.20%	3.96%	4.26%	4.71%
SLDAX SEI Institutional Investments Trust Long Duration Credit Fund	5.13%	5.03%	4.63%	3.38%	3.27%	5.81%	7.64%	3.79%	4.26%	4.41%	4.22%	6.63%

Frequently Asked Questions

Can I hold both SLDAX and BAB in my portfolio?

SLDAX and BAB have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SLDAX or BAB?

SLDAX has higher volatility (2.51%) compared to BAB (1.77%). In terms of maximum drawdown, SLDAX dropped -36.12% vs BAB's -27.80%.

Which has better risk-adjusted returns?

BAB currently has the higher Sharpe Ratio (1.23 vs 0.92), 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.