SMSAX vs. SGYAX
Compare and contrast key facts about SEI Institutional Managed Trust Multi-Strategy Alternative Fund (SMSAX) and SEI Institutional Investments Trust High Yield Bond Fund (SGYAX).
SMSAX is managed by SEI. It was launched on Mar 30, 2010. SGYAX is managed by SEI. It was launched on Dec 5, 2005.
Performance
SMSAX vs. SGYAX - Performance Comparison
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SMSAX vs. SGYAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SMSAX SEI Institutional Managed Trust Multi-Strategy Alternative Fund | 2.01% | 10.62% | 6.42% | 7.21% | -4.95% | 1.47% | 12.06% | 4.85% | -3.68% | 5.26% |
SGYAX SEI Institutional Investments Trust High Yield Bond Fund | -1.13% | 8.01% | 9.12% | 10.89% | -13.29% | 9.62% | 6.04% | 14.01% | -2.04% | 8.08% |
Returns By Period
In the year-to-date period, SMSAX achieves a 2.01% return, which is significantly higher than SGYAX's -1.13% return. Over the past 10 years, SMSAX has underperformed SGYAX with an annualized return of 4.36%, while SGYAX has yielded a comparatively higher 6.08% annualized return.
SMSAX
- 1D
- 1.20%
- 1M
- -1.74%
- YTD
- 2.01%
- 6M
- 4.75%
- 1Y
- 14.04%
- 3Y*
- 8.43%
- 5Y*
- 4.11%
- 10Y*
- 4.36%
SGYAX
- 1D
- 0.58%
- 1M
- -1.71%
- YTD
- -1.13%
- 6M
- -0.20%
- 1Y
- 5.71%
- 3Y*
- 7.70%
- 5Y*
- 3.59%
- 10Y*
- 6.08%
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SMSAX vs. SGYAX - Expense Ratio Comparison
SMSAX has a 1.35% expense ratio, which is higher than SGYAX's 0.56% expense ratio.
Return for Risk
SMSAX vs. SGYAX — Risk / Return Rank
SMSAX
SGYAX
SMSAX vs. SGYAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SEI Institutional Managed Trust Multi-Strategy Alternative Fund (SMSAX) and SEI Institutional Investments Trust High Yield Bond Fund (SGYAX). 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.
| SMSAX | SGYAX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.42 | 1.55 | +0.86 |
Sortino ratioReturn per unit of downside risk | 3.61 | 2.35 | +1.25 |
Omega ratioGain probability vs. loss probability | 1.49 | 1.36 | +0.12 |
Calmar ratioReturn relative to maximum drawdown | 3.77 | 1.98 | +1.79 |
Martin ratioReturn relative to average drawdown | 13.93 | 7.37 | +6.57 |
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
| SMSAX | SGYAX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.42 | 1.55 | +0.86 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.91 | 0.76 | +0.15 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.96 | 1.15 | -0.19 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.71 | 0.61 | +0.11 |
Correlation
The correlation between SMSAX and SGYAX is 0.47, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
SMSAX vs. SGYAX - Dividend Comparison
SMSAX's dividend yield for the trailing twelve months is around 4.98%, less than SGYAX's 8.22% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SMSAX SEI Institutional Managed Trust Multi-Strategy Alternative Fund | 4.98% | 5.08% | 5.54% | 4.35% | 2.13% | 7.61% | 2.79% | 1.01% | 4.94% | 2.20% | 0.07% | 2.66% |
SGYAX SEI Institutional Investments Trust High Yield Bond Fund | 8.22% | 8.88% | 8.68% | 10.08% | 8.79% | 5.37% | 7.30% | 7.15% | 7.31% | 7.27% | 7.30% | 7.88% |
Drawdowns
SMSAX vs. SGYAX - Drawdown Comparison
The maximum SMSAX drawdown since its inception was -10.98%, smaller than the maximum SGYAX drawdown of -45.51%. Use the drawdown chart below to compare losses from any high point for SMSAX and SGYAX.
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Drawdown Indicators
| SMSAX | SGYAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.98% | -45.51% | +34.53% |
Max Drawdown (1Y)Largest decline over 1 year | -3.73% | -3.12% | -0.61% |
Max Drawdown (5Y)Largest decline over 5 years | -9.72% | -15.45% | +5.73% |
Max Drawdown (10Y)Largest decline over 10 years | -10.98% | -21.85% | +10.87% |
Current DrawdownCurrent decline from peak | -2.12% | -2.20% | +0.08% |
Average DrawdownAverage peak-to-trough decline | -2.12% | -6.10% | +3.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.01% | 0.84% | +0.17% |
Volatility
SMSAX vs. SGYAX - Volatility Comparison
SEI Institutional Managed Trust Multi-Strategy Alternative Fund (SMSAX) has a higher volatility of 2.30% compared to SEI Institutional Investments Trust High Yield Bond Fund (SGYAX) at 1.32%. This indicates that SMSAX's price experiences larger fluctuations and is considered to be riskier than SGYAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SMSAX | SGYAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.30% | 1.32% | +0.98% |
Volatility (6M)Calculated over the trailing 6-month period | 4.03% | 2.35% | +1.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.83% | 3.80% | +2.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.55% | 4.74% | -0.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.55% | 5.30% | -0.75% |