SLDAX vs. SPLB

Last updated Jun 3, 2026

SLDAX (SEI Institutional Investments Trust Long Duration Credit Fund) and SPLB (SPDR Portfolio Long Term Corporate Bond ETF) are both funds - SLDAX is a Long-Term Bond fund managed by SEI, while SPLB is a Corporate Bonds fund tracking the Bloomberg Barclays Long U.S. Corporate Index. Over the past 10 years, SLDAX returned 1.67%/yr vs 2.26%/yr for SPLB. Their correlation of 0.85 suggests significant overlap in exposure. SLDAX charges 0.14%/yr vs 0.07%/yr for SPLB.

Performance

SLDAX vs. SPLB - 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 SPDR Portfolio Long Term Corporate Bond ETF (SPLB). 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 lower than SPLB's 1.28% return. Over the past 10 years, SLDAX has underperformed SPLB with an annualized return of 1.67%, while SPLB has yielded a comparatively higher 2.26% 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%

SPLB

• 1D: -0.04%
• 1M: 1.36%
• YTD: 1.28%
• 6M: 0.52%
• 1Y: 8.15%
• 3Y*: 4.47%
• 5Y*: -1.57%
• 10Y*: 2.26%

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

SLDAX vs. SPLB - 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%
SPLB SPDR Portfolio Long Term Corporate Bond ETF	1.28%	7.05%	-1.74%	11.20%	-25.68%	-1.99%	13.47%	23.49%	-7.35%	12.26%

Correlation

The correlation between SLDAX and SPLB is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (10Y) Calculated over the trailing 10-year period	0.86
Correlation (All Time) Calculated using the full available price history since Jul 3, 2012	0.85

The correlation between SLDAX and SPLB has been stable across timeframes, ranging from 0.85 to 0.95 - a consistent structural relationship.

Return for Risk

SLDAX vs. SPLB — 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

SPLB

SPLB Risk / Return Rank: 27
SPLB Sharpe Ratio Rank: 28
SPLB Sortino Ratio Rank: 27
SPLB Omega Ratio Rank: 27
SPLB Calmar Ratio Rank: 29
SPLB Martin Ratio Rank: 25

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. SPLB - 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 SPDR Portfolio Long Term Corporate Bond ETF (SPLB). 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	SPLB	Difference
Sharpe ratio Return per unit of total volatility	0.92	1.02	-0.10
Sortino ratio Return per unit of downside risk	1.36	1.49	-0.13
Omega ratio Gain probability vs. loss probability	1.16	1.18	-0.02
Calmar ratio Return relative to maximum drawdown	1.47	1.41	+0.06
Martin ratio Return relative to average drawdown	3.72	3.52	+0.20
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. SPLB - Sharpe Ratio Comparison

The current SLDAX Sharpe Ratio is 0.92, which is comparable to the SPLB Sharpe Ratio of 1.02. The chart below compares the historical Sharpe Ratios of SLDAX and SPLB, 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	SPLB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.92	1.02	-0.10
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.22	-0.12	-0.10
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.15	0.18	-0.03
Sharpe Ratio (All Time) Calculated using the full available price history	0.23	0.45	-0.22

Drawdowns

SLDAX vs. SPLB - Drawdown Comparison

The maximum SLDAX drawdown since its inception was -36.12%, roughly equal to the maximum SPLB drawdown of -34.46%. Use the drawdown chart below to compare losses from any high point for SLDAX and SPLB.

Drawdown Indicators

	SLDAX	SPLB	Difference
Max Drawdown Largest peak-to-trough decline	-36.12%	-34.46%	-1.66%
Max Drawdown (1Y) Largest decline over 1 year	-5.19%	-5.42%	+0.23%
Max Drawdown (3Y) Largest decline over 3 years	-13.62%	-12.91%	-0.71%
Max Drawdown (5Y) Largest decline over 5 years	-35.17%	-34.46%	-0.71%
Max Drawdown (10Y) Largest decline over 10 years	-36.12%	-34.46%	-1.66%
Current Drawdown Current decline from peak	-19.82%	-14.23%	-5.59%
Average Drawdown Average peak-to-trough decline	-10.62%	-8.01%	-2.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.05%	2.18%	-0.13%

Volatility

SLDAX vs. SPLB - Volatility Comparison

SEI Institutional Investments Trust Long Duration Credit Fund (SLDAX) has a higher volatility of 2.51% compared to SPDR Portfolio Long Term Corporate Bond ETF (SPLB) at 2.39%. This indicates that SLDAX's price experiences larger fluctuations and is considered to be riskier than SPLB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SLDAX	SPLB	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.51%	2.39%	+0.12%
Volatility (6M) Calculated over the trailing 6-month period	5.50%	5.86%	-0.36%
Volatility (1Y) Calculated over the trailing 1-year period	7.67%	8.05%	-0.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.15%	12.71%	-0.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.27%	12.95%	-1.68%

SLDAX vs. SPLB - Expense Ratio Comparison

SLDAX has a 0.14% expense ratio, which is higher than SPLB's 0.07% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

SLDAX vs. SPLB - Dividend Comparison

SLDAX's dividend yield for the trailing twelve months is around 5.13%, less than SPLB's 5.36% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
SPLB SPDR Portfolio Long Term Corporate Bond ETF	5.36%	5.25%	5.20%	4.60%	4.53%	3.00%	3.01%	3.79%	4.50%	4.06%	4.34%	4.70%

Frequently Asked Questions

Can I hold both SLDAX and SPLB in my portfolio?

With a correlation of 0.93, SLDAX and SPLB 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, SLDAX or SPLB?

SLDAX has higher volatility (2.51%) compared to SPLB (2.39%). In terms of maximum drawdown, SLDAX dropped -36.12% vs SPLB's -34.46%.

Which has better risk-adjusted returns?

SPLB currently has the higher Sharpe Ratio (1.02 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.