SNTIX vs. SQIFX
SNTIX (SIT Tax Free Income Fund) and SQIFX (Sit Quality Income Fund) are both mutual funds - SNTIX is a Municipal Bonds fund managed by Sit, while SQIFX is a Ultrashort Bond fund managed by Sit. Over the past 10 years, SNTIX returned 2.00%/yr vs 2.05%/yr for SQIFX. Their 0.26 correlation means their historical movements had little consistent relationship. SNTIX charges 0.80%/yr vs 0.90%/yr for SQIFX.
Performance
SNTIX vs. SQIFX - Performance Comparison
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Returns By Period
In the year-to-date period, SNTIX achieves a 1.30% return, which is significantly higher than SQIFX's 0.29% return. Both investments have delivered pretty close results over the past 10 years, with SNTIX having a 2.00% annualized return and SQIFX not far ahead at 2.05%.
SNTIX
- 1D
- -0.23%
- 1M
- -2.13%
- 6M
- 0.75%
- YTD
- 1.30%
- 1Y
- 7.68%
- 3Y*
- 4.75%
- 5Y*
- 0.48%
- 10Y*
- 2.00%
- ALL TIME*
- 3.80%
SQIFX
- 1D
- 0.00%
- 1M
- -0.42%
- 6M
- -0.05%
- YTD
- 0.29%
- 1Y
- 2.39%
- 3Y*
- 4.16%
- 5Y*
- 2.18%
- 10Y*
- 2.05%
- ALL TIME*
- 1.63%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
SNTIX vs. SQIFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SNTIX SIT Tax Free Income Fund | 1.30% | 5.29% | 5.95% | 5.02% | -13.91% | 3.01% | 3.76% | 7.34% | 0.75% | 7.70% |
SQIFX Sit Quality Income Fund | 0.29% | 6.32% | 3.93% | 3.39% | -2.68% | 1.24% | 2.89% | 3.13% | 0.90% | 1.16% |
Correlation
The correlation between SNTIX and SQIFX is 0.58, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.58 |
Correlation (3Y) Balances recent behavior with more history. | 0.50 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.31 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.29 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2013 | 0.26 |
Over the past year, SNTIX and SQIFX have become more correlated (0.58) than their long-term average of 0.26, meaning their price movements have been converging.
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Return for Risk
SNTIX vs. SQIFX — Risk / Return Rank
SNTIX
SQIFX
SNTIX vs. SQIFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SIT Tax Free Income Fund (SNTIX) and Sit Quality Income Fund (SQIFX). 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.
| SNTIX | SQIFX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.07 | ||
| Sortino ratioReturn per unit of downside risk | +1.53 | ||
| Omega ratioGain probability vs. loss probability | 1.62 | 1.30 | +0.32 |
| Calmar ratioReturn relative to maximum drawdown | 2.91 | 2.14 | +0.77 |
| Martin ratioReturn relative to average drawdown | 11.18 | 7.53 | +3.65 |
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Drawdowns
SNTIX vs. SQIFX - Drawdown Comparison
The maximum SNTIX drawdown since its inception was -18.13%, which is greater than SQIFX's maximum drawdown of -4.22%. Use the drawdown chart below to compare losses from any high point for SNTIX and SQIFX.
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Drawdown Indicators
| SNTIX | SQIFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.13% | -4.22% | -13.91% |
Max Drawdown (1Y)Largest decline over 1 year | -3.04% | -1.55% | -1.49% |
Max Drawdown (3Y)Largest decline over 3 years | -5.92% | -1.55% | -4.37% |
Max Drawdown (5Y)Largest decline over 5 years | -18.13% | -4.22% | -13.91% |
Max Drawdown (10Y)Largest decline over 10 years | -18.13% | -4.22% | -13.91% |
Current DrawdownCurrent decline from peak | -2.13% | -0.56% | -1.57% |
Average DrawdownAverage peak-to-trough decline | -2.31% | -0.45% | -1.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.79% | 0.44% | +0.35% |
Volatility
SNTIX vs. SQIFX - Volatility Comparison
SIT Tax Free Income Fund (SNTIX) has a higher volatility of 0.89% compared to Sit Quality Income Fund (SQIFX) at 0.52%. This indicates that SNTIX's price experiences larger fluctuations and is considered to be riskier than SQIFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SNTIX | SQIFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.89% | 0.52% | +0.37% |
Volatility (6M)Calculated over the trailing 6-month period | 2.72% | 1.71% | +1.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.48% | 2.25% | +1.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.64% | 2.36% | +2.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.56% | 1.82% | +2.74% |
SNTIX vs. SQIFX - Expense Ratio Comparison
SNTIX has a 0.80% expense ratio, which is lower than SQIFX's 0.90% expense ratio.
Dividends
SNTIX vs. SQIFX - Dividend Comparison
SNTIX's dividend yield for the trailing twelve months is around 3.43%, less than SQIFX's 3.54% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SNTIX SIT Tax Free Income Fund | 3.43% | 4.49% | 4.14% | 3.54% | 1.88% | 2.46% | 2.62% | 3.33% | 3.37% | 4.01% | 3.70% | 3.60% |
SQIFX Sit Quality Income Fund | 3.54% | 4.21% | 3.96% | 2.78% | 3.42% | 1.23% | 1.13% | 1.95% | 1.82% | 1.16% | 0.89% | 0.95% |
Frequently Asked Questions
SNTIX and SQIFX have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SNTIX has higher volatility (0.89%) compared to SQIFX (0.52%). In terms of maximum drawdown, SNTIX dropped -18.13% vs SQIFX's -4.22%.
SNTIX currently has the higher Sharpe Ratio (2.54 vs 1.47), 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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