SMOAX vs. LDRAX

Last updated Jun 25, 2026

SMOAX (SEI Asset Allocation Trust Moderate Strategy Fund) and LDRAX (SEI Institutional Investments Trust Long Duration Fund) are both mutual funds - SMOAX is a Diversified Portfolio fund managed by SEI, while LDRAX is a Long-Term Bond fund managed by SEI. Over the past 10 years, SMOAX returned 4.85%/yr vs 1.35%/yr for LDRAX. At a 0.09 correlation, their price movements are largely independent. SMOAX charges 0.31%/yr vs 0.14%/yr for LDRAX.

Performance

SMOAX vs. LDRAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SEI Asset Allocation Trust Moderate Strategy Fund (SMOAX) and SEI Institutional Investments Trust Long Duration Fund (LDRAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SMOAX achieves a 3.58% return, which is significantly higher than LDRAX's 0.43% return. Over the past 10 years, SMOAX has outperformed LDRAX with an annualized return of 4.85%, while LDRAX has yielded a comparatively lower 1.35% annualized return.

SMOAX

• 1D: -0.31%
• 1M: -0.55%
• YTD: 3.58%
• 6M: 3.34%
• 1Y: 9.24%
• 3Y*: 8.33%
• 5Y*: 3.95%
• 10Y*: 4.85%

LDRAX

• 1D: 0.17%
• 1M: 1.50%
• YTD: 0.43%
• 6M: 0.36%
• 1Y: 4.67%
• 3Y*: 2.12%
• 5Y*: -3.77%
• 10Y*: 1.35%

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

SMOAX vs. LDRAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SMOAX SEI Asset Allocation Trust Moderate Strategy Fund	3.58%	11.44%	6.40%	6.34%	-9.68%	7.42%	3.66%	13.98%	-3.54%	8.45%
LDRAX SEI Institutional Investments Trust Long Duration Fund	0.43%	6.81%	-3.28%	7.16%	-27.73%	-2.19%	18.23%	21.19%	-5.16%	11.74%

Correlation

The correlation between SMOAX and LDRAX is 0.59, 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	0.59
Correlation (3Y) Calculated over the trailing 3-year period	0.59
Correlation (5Y) Calculated over the trailing 5-year period	0.51
Correlation (10Y) Calculated over the trailing 10-year period	0.34
Correlation (All Time) Calculated using the full available price history since Apr 30, 2004	0.09

Over the past year, SMOAX and LDRAX have become more correlated (0.59) than their long-term average of 0.09, meaning their price movements have been converging.

Return for Risk

SMOAX vs. LDRAX — Risk / Return Rank

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

SMOAX

SMOAX Risk / Return Rank: 61
SMOAX Sharpe Ratio Rank: 71
SMOAX Sortino Ratio Rank: 70
SMOAX Omega Ratio Rank: 69
SMOAX Calmar Ratio Rank: 46
SMOAX Martin Ratio Rank: 51

LDRAX

LDRAX Risk / Return Rank: 10
LDRAX Sharpe Ratio Rank: 9
LDRAX Sortino Ratio Rank: 9
LDRAX Omega Ratio Rank: 9
LDRAX Calmar Ratio Rank: 12
LDRAX Martin Ratio Rank: 10

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.

SMOAX vs. LDRAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SEI Asset Allocation Trust Moderate Strategy Fund (SMOAX) and SEI Institutional Investments Trust Long Duration Fund (LDRAX). 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.

	SMOAX	LDRAX	Difference
Sharpe ratio: Return per unit of total volatility	2.11	0.67	+1.44
Sortino ratio: Return per unit of downside risk	2.95	1.00	+1.95
Omega ratio: Gain probability vs. loss probability	1.39	1.12	+0.27
Calmar ratio: Return relative to maximum drawdown	2.29	0.98	+1.31
Martin ratio: Return relative to average drawdown	9.20	2.40	+6.80

SMOAX vs. LDRAX - Sharpe Ratio Comparison

The current SMOAX Sharpe Ratio is 2.11, which is higher than the LDRAX Sharpe Ratio of 0.67. The chart below compares the historical Sharpe Ratios of SMOAX and LDRAX, 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

SMOAX vs. LDRAX - Drawdown Comparison

The maximum SMOAX drawdown since its inception was -37.80%, roughly equal to the maximum LDRAX drawdown of -37.23%. Use the drawdown chart below to compare losses from any high point for SMOAX and LDRAX.

Drawdown Indicators

	SMOAX	LDRAX	Difference
Max Drawdown Largest peak-to-trough decline	-37.80%	-37.23%	-0.57%
Max Drawdown (1Y) Largest decline over 1 year	-4.26%	-5.34%	+1.08%
Max Drawdown (3Y) Largest decline over 3 years	-5.03%	-14.49%	+9.46%
Max Drawdown (5Y) Largest decline over 5 years	-16.63%	-36.35%	+19.72%
Max Drawdown (10Y) Largest decline over 10 years	-16.94%	-37.23%	+20.29%
Current Drawdown Current decline from peak	-1.16%	-22.50%	+21.34%
Average Drawdown Average peak-to-trough decline	-4.36%	-12.42%	+8.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.06%	2.18%	-1.12%

Volatility

SMOAX vs. LDRAX - Volatility Comparison

The current volatility for SEI Asset Allocation Trust Moderate Strategy Fund (SMOAX) is 1.53%, while SEI Institutional Investments Trust Long Duration Fund (LDRAX) has a volatility of 1.98%. This indicates that SMOAX experiences smaller price fluctuations and is considered to be less risky than LDRAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SMOAX	LDRAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.53%	1.98%	-0.45%
Volatility (6M) Calculated over the trailing 6-month period	3.73%	5.73%	-2.00%
Volatility (1Y) Calculated over the trailing 1-year period	4.65%	7.90%	-3.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.04%	12.51%	-6.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.12%	11.40%	-5.28%

SMOAX vs. LDRAX - Expense Ratio Comparison

SMOAX has a 0.31% expense ratio, which is higher than LDRAX's 0.14% expense ratio.

Dividends

SMOAX vs. LDRAX - Dividend Comparison

SMOAX's dividend yield for the trailing twelve months is around 3.11%, less than LDRAX's 5.15% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LDRAX SEI Institutional Investments Trust Long Duration Fund	5.15%	5.04%	4.62%	3.42%	3.23%	4.30%	12.32%	8.60%	4.80%	4.46%	6.21%	9.23%
SMOAX SEI Asset Allocation Trust Moderate Strategy Fund	3.11%	3.17%	3.49%	2.68%	9.53%	5.06%	2.69%	3.30%	2.38%	2.09%	2.58%	3.02%

Frequently Asked Questions

Can I hold both SMOAX and LDRAX in my portfolio?

SMOAX and LDRAX have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SMOAX or LDRAX?

LDRAX has higher volatility (1.98%) compared to SMOAX (1.53%). In terms of maximum drawdown, SMOAX dropped -37.80% vs LDRAX's -37.23%.

Which has better risk-adjusted returns?

SMOAX currently has the higher Sharpe Ratio (2.11 vs 0.67), 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.