SLGAX vs. QCELX

Last updated Aug 1, 2026

SLGAX (SEI Institutional Managed Trust Large Cap Fund) and QCELX (AQR Large Cap Multi-Style Fund) are both Large Cap Blend Equities funds. Over the past 10 years, SLGAX returned 12.80%/yr vs 14.84%/yr for QCELX. Their 0.96 correlation means they have historically moved very closely together. SLGAX charges 0.95%/yr vs 0.41%/yr for QCELX.

Performance

SLGAX vs. QCELX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SEI Institutional Managed Trust Large Cap Fund (SLGAX) and AQR Large Cap Multi-Style Fund (QCELX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SLGAX achieves a 9.95% return, which is significantly lower than QCELX's 18.14% return. Over the past 10 years, SLGAX has underperformed QCELX with an annualized return of 12.80%, while QCELX has yielded a comparatively higher 14.84% annualized return.

SLGAX

• 1D: 1.05%
• 1M: 0.75%
• 6M: 8.72%
• YTD: 9.95%
• 1Y: 20.59%
• 3Y*: 17.34%
• 5Y*: 10.47%
• 10Y*: 12.80%
• ALL TIME*: 12.49%

QCELX

• 1D: 1.24%
• 1M: 1.62%
• 6M: 14.89%
• YTD: 18.14%
• 1Y: 32.89%
• 3Y*: 23.69%
• 5Y*: 15.42%
• 10Y*: 14.84%
• ALL TIME*: 12.97%

*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)
QCELX AQR Large Cap Multi-Style Fund	$0.00	$0.00	$0.00
SLGAX SEI Institutional Managed Trust Large Cap Fund	$0.00	$0.00	$0.00

SLGAX vs. QCELX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SLGAX SEI Institutional Managed Trust Large Cap Fund	9.95%	17.41%	20.38%	19.49%	-16.03%	24.30%	11.60%	29.13%	-6.92%	22.54%
QCELX AQR Large Cap Multi-Style Fund	18.14%	23.38%	22.73%	26.30%	-15.73%	27.18%	14.93%	24.33%	-10.96%	22.73%

Correlation

The correlation between SLGAX and QCELX is 0.92, 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.	0.92
Correlation (3Y) Balances recent behavior with more history.	0.94
Correlation (5Y) Shows whether the relationship held over a longer period.	0.96
Correlation (10Y) Provides a long-term view across more market conditions.	0.96
Correlation (All Time) Calculated using the full available price history since Jan 2, 2014	0.96

The correlation between SLGAX and QCELX has been stable across timeframes, ranging from 0.92 to 0.96 - a consistent structural relationship.

Return for Risk

SLGAX vs. QCELX — Risk / Return Rank

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

SLGAX

SLGAX Risk / Return Rank: 65
SLGAX Sharpe Ratio Rank: 63
SLGAX Sortino Ratio Rank: 60
SLGAX Omega Ratio Rank: 58
SLGAX Calmar Ratio Rank: 66
SLGAX Martin Ratio Rank: 79

QCELX

QCELX Risk / Return Rank: 90
QCELX Sharpe Ratio Rank: 90
QCELX Sortino Ratio Rank: 86
QCELX Omega Ratio Rank: 83
QCELX Calmar Ratio Rank: 94
QCELX Martin Ratio Rank: 96

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.

SLGAX vs. QCELX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SEI Institutional Managed Trust Large Cap Fund (SLGAX) and AQR Large Cap Multi-Style Fund (QCELX). 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.

	SLGAX	QCELX	Difference
Sharpe ratio: Return per unit of total volatility	1.57	2.27	-0.70
Sortino ratio: Return per unit of downside risk	2.20	3.09	-0.89
Omega ratio: Gain probability vs. loss probability	1.28	1.40	-0.12
Calmar ratio: Return relative to maximum drawdown	2.26	3.84	-1.58
Martin ratio: Return relative to average drawdown	9.86	16.20	-6.35

SLGAX vs. QCELX - Sharpe Ratio Comparison

The current SLGAX Sharpe Ratio is 1.57, which is lower than the QCELX Sharpe Ratio of 2.27. The chart below compares the historical Sharpe Ratios of SLGAX and QCELX, 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

SLGAX vs. QCELX - Drawdown Comparison

The maximum SLGAX drawdown since its inception was -36.80%, which is greater than QCELX's maximum drawdown of -33.52%. Use the drawdown chart below to compare losses from any high point for SLGAX and QCELX.

Drawdown Indicators

	SLGAX	QCELX	Difference
Max Drawdown Largest peak-to-trough decline	-36.80%	-33.52%	-3.28%
Max Drawdown (1Y) Largest decline over 1 year	-8.39%	-7.92%	-0.47%
Max Drawdown (3Y) Largest decline over 3 years	-28.89%	-18.38%	-10.51%
Max Drawdown (5Y) Largest decline over 5 years	-28.89%	-28.70%	-0.19%
Max Drawdown (10Y) Largest decline over 10 years	-36.80%	-33.52%	-3.28%
Current Drawdown Current decline from peak	-0.32%	-0.29%	-0.03%
Average Drawdown Average peak-to-trough decline	-4.84%	-5.60%	+0.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.92%	1.87%	+0.05%

Volatility

SLGAX vs. QCELX - Volatility Comparison

SEI Institutional Managed Trust Large Cap Fund (SLGAX) and AQR Large Cap Multi-Style Fund (QCELX) have volatilities of 3.00% and 3.02%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SLGAX	QCELX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.00%	3.02%	-0.02%
Volatility (6M) Calculated over the trailing 6-month period	9.38%	10.07%	-0.69%
Volatility (1Y) Calculated over the trailing 1-year period	12.13%	13.41%	-1.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.62%	18.99%	+0.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.62%	18.96%	+0.66%

SLGAX vs. QCELX - Expense Ratio Comparison

SLGAX has a 0.95% expense ratio, which is higher than QCELX's 0.41% expense ratio.

Dividends

SLGAX vs. QCELX - Dividend Comparison

SLGAX's dividend yield for the trailing twelve months is around 19.03%, more than QCELX's 12.19% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QCELX AQR Large Cap Multi-Style Fund	12.19%	14.40%	12.89%	13.67%	11.05%	12.41%	9.94%	5.36%	7.81%	0.99%	1.28%	0.89%
SLGAX SEI Institutional Managed Trust Large Cap Fund	19.03%	20.96%	18.18%	6.78%	10.41%	14.16%	3.68%	7.27%	16.21%	7.35%	0.94%	20.34%

Frequently Asked Questions

Can I hold both SLGAX and QCELX in my portfolio?

With a correlation of 0.92, SLGAX and QCELX 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, SLGAX or QCELX?

QCELX has higher volatility (3.02%) compared to SLGAX (3.00%). In terms of maximum drawdown, SLGAX dropped -36.80% vs QCELX's -33.52%.

Which has better risk-adjusted returns?

QCELX currently has the higher Sharpe Ratio (2.27 vs 1.57), 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.