SMAAX vs. SEITX
SMAAX (SEI Tax-Exempt Trust Massachusetts Municipal Bond Fund) and SEITX (SEI Institutional International Trust International Equity Fund) are both mutual funds - SMAAX is a Municipal Bonds fund managed by SEI, while SEITX is a Foreign Large Cap Equities fund managed by SEI. Over the past 10 years, SMAAX returned 1.16%/yr vs 9.70%/yr for SEITX. At a correlation of -0.08, they often move in opposite directions. SMAAX charges 0.63%/yr vs 1.08%/yr for SEITX.
Performance
SMAAX vs. SEITX - Performance Comparison
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Returns By Period
In the year-to-date period, SMAAX achieves a 0.40% return, which is significantly lower than SEITX's 10.19% return. Over the past 10 years, SMAAX has underperformed SEITX with an annualized return of 1.16%, while SEITX has yielded a comparatively higher 9.70% annualized return.
SMAAX
- 1D
- 0.00%
- 1M
- 0.20%
- YTD
- 0.40%
- 6M
- 0.77%
- 1Y
- 5.06%
- 3Y*
- 2.85%
- 5Y*
- 0.24%
- 10Y*
- 1.16%
SEITX
- 1D
- -0.49%
- 1M
- 2.37%
- YTD
- 10.19%
- 6M
- 12.44%
- 1Y
- 25.55%
- 3Y*
- 20.00%
- 5Y*
- 9.45%
- 10Y*
- 9.70%
SMAAX vs. SEITX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SMAAX SEI Tax-Exempt Trust Massachusetts Municipal Bond Fund | 0.40% | 5.42% | -0.34% | 3.94% | -7.16% | -1.26% | 4.39% | 6.35% | 0.62% | 3.46% |
SEITX SEI Institutional International Trust International Equity Fund | 10.19% | 36.91% | 6.71% | 18.14% | -15.97% | 10.09% | 11.37% | 22.42% | -16.71% | 26.66% |
Correlation
The correlation between SMAAX and SEITX is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.27 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.22 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.18 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.04 |
Correlation (All Time) Calculated using the full available price history since Jan 5, 1999 | -0.08 |
The correlation between SMAAX and SEITX shifts across timeframes, from -0.08 (all time) to 0.27 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SMAAX vs. SEITX — Risk / Return Rank
SMAAX
SEITX
SMAAX vs. SEITX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SEI Tax-Exempt Trust Massachusetts Municipal Bond Fund (SMAAX) and SEI Institutional International Trust International Equity Fund (SEITX). 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.
| SMAAX | SEITX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.45 | ||
| Sortino ratioReturn per unit of downside risk | +0.60 | ||
| Omega ratioGain probability vs. loss probability | 1.60 | 1.35 | +0.25 |
| Calmar ratioReturn relative to maximum drawdown | 1.68 | 2.38 | -0.69 |
| Martin ratioReturn relative to average drawdown | 4.94 | 8.83 | -3.89 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SMAAX | SEITX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.36 | 1.91 | +0.45 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.08 | 0.60 | -0.52 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.31 | 0.59 | -0.28 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.93 | 0.28 | +0.65 |
Drawdowns
SMAAX vs. SEITX - Drawdown Comparison
The maximum SMAAX drawdown since its inception was -12.35%, smaller than the maximum SEITX drawdown of -66.98%. Use the drawdown chart below to compare losses from any high point for SMAAX and SEITX.
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Drawdown Indicators
| SMAAX | SEITX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.35% | -66.98% | +54.63% |
Max Drawdown (1Y)Largest decline over 1 year | -3.15% | -11.23% | +8.08% |
Max Drawdown (3Y)Largest decline over 3 years | -4.23% | -14.42% | +10.19% |
Max Drawdown (5Y)Largest decline over 5 years | -12.06% | -30.60% | +18.54% |
Max Drawdown (10Y)Largest decline over 10 years | -12.35% | -38.19% | +25.84% |
Current DrawdownCurrent decline from peak | -1.66% | -1.04% | -0.62% |
Average DrawdownAverage peak-to-trough decline | -2.08% | -17.83% | +15.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.07% | 2.98% | -1.91% |
Volatility
SMAAX vs. SEITX - Volatility Comparison
The current volatility for SEI Tax-Exempt Trust Massachusetts Municipal Bond Fund (SMAAX) is 0.86%, while SEI Institutional International Trust International Equity Fund (SEITX) has a volatility of 3.80%. This indicates that SMAAX experiences smaller price fluctuations and is considered to be less risky than SEITX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SMAAX | SEITX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.86% | 3.80% | -2.94% |
Volatility (6M)Calculated over the trailing 6-month period | 1.89% | 11.25% | -9.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.25% | 13.99% | -11.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.17% | 15.96% | -12.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.77% | 16.50% | -12.73% |
SMAAX vs. SEITX - Expense Ratio Comparison
SMAAX has a 0.63% expense ratio, which is lower than SEITX's 1.08% expense ratio.
Dividends
SMAAX vs. SEITX - Dividend Comparison
SMAAX's dividend yield for the trailing twelve months is around 2.06%, less than SEITX's 15.25% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SEITX SEI Institutional International Trust International Equity Fund | 15.25% | 16.80% | 12.15% | 2.04% | 1.82% | 14.32% | 0.98% | 1.73% | 1.60% | 1.30% | 1.17% | 1.01% |
SMAAX SEI Tax-Exempt Trust Massachusetts Municipal Bond Fund | 2.06% | 2.47% | 1.54% | 1.16% | 0.95% | 1.20% | 1.82% | 2.09% | 1.84% | 2.07% | 2.40% | 2.83% |
Frequently Asked Questions
SMAAX and SEITX have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SEITX has higher volatility (3.80%) compared to SMAAX (0.86%). In terms of maximum drawdown, SMAAX dropped -12.35% vs SEITX's -66.98%.
SMAAX currently has the higher Sharpe Ratio (2.36 vs 1.91), 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.
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