SPINX vs. SEHAX

Last updated Jun 3, 2026

SPINX (SEI Institutional Investments Trust S&P 500 Index Fund) and SEHAX (SEI Institutional Investments Trust U.S. Equity Factor Allocation Fund) are both mutual funds - SPINX is a S&P 500 fund tracking the S&P 500 Index, while SEHAX is a Large Cap Blend Equities fund managed by SEI. Over the past 5 years, SPINX returned 13.92%/yr vs 13.73%/yr for SEHAX. With a 0.96 correlation, they move nearly in lockstep. SPINX charges 0.12%/yr vs 0.32%/yr for SEHAX.

Performance

SPINX vs. SEHAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SEI Institutional Investments Trust S&P 500 Index Fund (SPINX) and SEI Institutional Investments Trust U.S. Equity Factor Allocation Fund (SEHAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPINX achieves a 11.50% return, which is significantly lower than SEHAX's 12.99% return.

SPINX

• 1D: 0.26%
• 1M: 5.21%
• YTD: 11.50%
• 6M: 11.99%
• 1Y: 29.60%
• 3Y*: 22.36%
• 5Y*: 13.92%
• 10Y*: 15.49%

SEHAX

• 1D: 0.72%
• 1M: 6.26%
• YTD: 12.99%
• 6M: 14.52%
• 1Y: 30.06%
• 3Y*: 23.20%
• 5Y*: 13.73%
• 10Y*: —

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

SPINX vs. SEHAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
SPINX SEI Institutional Investments Trust S&P 500 Index Fund	11.50%	17.89%	24.02%	26.24%	-18.27%	28.62%	18.35%	31.42%	-4.83%
SEHAX SEI Institutional Investments Trust U.S. Equity Factor Allocation Fund	12.99%	17.99%	24.97%	21.99%	-15.84%	32.78%	13.16%	28.09%	-5.81%

Correlation

The correlation between SPINX and SEHAX is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (All Time) Calculated using the full available price history since Apr 27, 2018	0.96

The correlation between SPINX and SEHAX has been stable across timeframes, ranging from 0.93 to 0.96 - a consistent structural relationship.

Return for Risk

SPINX vs. SEHAX — Risk / Return Rank

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

SPINX

SPINX Risk / Return Rank: 74
SPINX Sharpe Ratio Rank: 77
SPINX Sortino Ratio Rank: 68
SPINX Omega Ratio Rank: 69
SPINX Calmar Ratio Rank: 74
SPINX Martin Ratio Rank: 84

SEHAX

SEHAX Risk / Return Rank: 81
SEHAX Sharpe Ratio Rank: 81
SEHAX Sortino Ratio Rank: 77
SEHAX Omega Ratio Rank: 71
SEHAX Calmar Ratio Rank: 84
SEHAX Martin Ratio Rank: 90

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.

SPINX vs. SEHAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SEI Institutional Investments Trust S&P 500 Index Fund (SPINX) and SEI Institutional Investments Trust U.S. Equity Factor Allocation Fund (SEHAX). 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.

	SPINX	SEHAX	Difference
Sharpe ratio Return per unit of total volatility	2.55	2.64	-0.09
Sortino ratio Return per unit of downside risk	3.45	3.66	-0.21
Omega ratio Gain probability vs. loss probability	1.47	1.47	-0.01
Calmar ratio Return relative to maximum drawdown	3.38	3.93	-0.55
Martin ratio Return relative to average drawdown	15.83	18.22	-2.39
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPINX vs. SEHAX - Sharpe Ratio Comparison

The current SPINX Sharpe Ratio is 2.55, which is comparable to the SEHAX Sharpe Ratio of 2.64. The chart below compares the historical Sharpe Ratios of SPINX and SEHAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SPINX	SEHAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.55	2.64	-0.09
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.62	0.66	-0.03
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.74	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.72	0.69	+0.02

Drawdowns

SPINX vs. SEHAX - Drawdown Comparison

The maximum SPINX drawdown since its inception was -33.82%, smaller than the maximum SEHAX drawdown of -35.77%. Use the drawdown chart below to compare losses from any high point for SPINX and SEHAX.

Drawdown Indicators

	SPINX	SEHAX	Difference
Max Drawdown Largest peak-to-trough decline	-33.82%	-35.77%	+1.95%
Max Drawdown (1Y) Largest decline over 1 year	-8.92%	-7.74%	-1.18%
Max Drawdown (3Y) Largest decline over 3 years	-32.91%	-17.69%	-15.22%
Max Drawdown (5Y) Largest decline over 5 years	-32.91%	-35.77%	+2.86%
Max Drawdown (10Y) Largest decline over 10 years	-33.82%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-5.22%	-9.03%	+3.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.90%	1.67%	+0.23%

Volatility

SPINX vs. SEHAX - Volatility Comparison

The current volatility for SEI Institutional Investments Trust S&P 500 Index Fund (SPINX) is 2.83%, while SEI Institutional Investments Trust U.S. Equity Factor Allocation Fund (SEHAX) has a volatility of 3.02%. This indicates that SPINX experiences smaller price fluctuations and is considered to be less risky than SEHAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPINX	SEHAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.83%	3.02%	-0.19%
Volatility (6M) Calculated over the trailing 6-month period	8.98%	8.70%	+0.28%
Volatility (1Y) Calculated over the trailing 1-year period	11.89%	11.57%	+0.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.49%	21.04%	+1.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.95%	21.75%	-0.80%

SPINX vs. SEHAX - Expense Ratio Comparison

SPINX has a 0.12% expense ratio, which is lower than SEHAX's 0.32% expense ratio.

Dividends

SPINX vs. SEHAX - Dividend Comparison

SPINX's dividend yield for the trailing twelve months is around 10.69%, more than SEHAX's 4.92% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SEHAX SEI Institutional Investments Trust U.S. Equity Factor Allocation Fund	4.92%	5.52%	7.85%	1.15%	12.75%	23.76%	1.69%	1.97%	1.24%	0.00%	0.00%	0.00%
SPINX SEI Institutional Investments Trust S&P 500 Index Fund	10.69%	11.90%	26.02%	9.77%	9.59%	6.58%	3.58%	3.01%	4.94%	2.32%	1.97%	2.29%

Frequently Asked Questions

Can I hold both SPINX and SEHAX in my portfolio?

With a correlation of 0.93, SPINX and SEHAX 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, SPINX or SEHAX?

SEHAX has higher volatility (3.02%) compared to SPINX (2.83%). In terms of maximum drawdown, SPINX dropped -33.82% vs SEHAX's -35.77%.

Which has better risk-adjusted returns?

SEHAX currently has the higher Sharpe Ratio (2.64 vs 2.55), 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.