SRAAX vs. CAVAX

Last updated Jun 25, 2026

SRAAX (SEI Institutional Managed Trust Real Return Fund) and CAVAX (SEI Catholic Values Trust Catholic Values Equity Fund) are both mutual funds - SRAAX is a Inflation-Protected Bonds fund managed by SEI, while CAVAX is a Large Cap Blend Equities fund managed by SEI. Over the past 10 years, SRAAX returned 2.72%/yr vs 12.32%/yr for CAVAX. At a 0.09 correlation, their price movements are largely independent. SRAAX charges 0.45%/yr vs 0.86%/yr for CAVAX.

Performance

SRAAX vs. CAVAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SEI Institutional Managed Trust Real Return Fund (SRAAX) and SEI Catholic Values Trust Catholic Values Equity Fund (CAVAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SRAAX achieves a 0.86% return, which is significantly lower than CAVAX's 6.78% return. Over the past 10 years, SRAAX has underperformed CAVAX with an annualized return of 2.72%, while CAVAX has yielded a comparatively higher 12.32% annualized return.

SRAAX

• 1D: 0.00%
• 1M: -0.31%
• YTD: 0.86%
• 6M: 0.95%
• 1Y: 2.93%
• 3Y*: 4.52%
• 5Y*: 2.95%
• 10Y*: 2.72%

CAVAX

• 1D: -1.25%
• 1M: -0.82%
• YTD: 6.78%
• 6M: 5.59%
• 1Y: 17.01%
• 3Y*: 16.64%
• 5Y*: 8.44%
• 10Y*: 12.32%

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

SRAAX vs. CAVAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SRAAX SEI Institutional Managed Trust Real Return Fund	0.86%	6.05%	4.05%	4.07%	-4.43%	6.98%	5.08%	4.59%	-0.03%	0.42%
CAVAX SEI Catholic Values Trust Catholic Values Equity Fund	6.78%	15.45%	16.72%	21.33%	-18.51%	20.57%	17.33%	26.63%	-10.24%	23.69%

Correlation

The correlation between SRAAX and CAVAX is 0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.04
Correlation (3Y) Calculated over the trailing 3-year period	0.11
Correlation (5Y) Calculated over the trailing 5-year period	0.15
Correlation (10Y) Calculated over the trailing 10-year period	0.09
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016	0.09

The correlation between SRAAX and CAVAX shifts across timeframes, from 0.04 (1 year) to 0.15 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

SRAAX vs. CAVAX — Risk / Return Rank

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

SRAAX

SRAAX Risk / Return Rank: 52
SRAAX Sharpe Ratio Rank: 40
SRAAX Sortino Ratio Rank: 43
SRAAX Omega Ratio Rank: 49
SRAAX Calmar Ratio Rank: 71
SRAAX Martin Ratio Rank: 58

CAVAX

CAVAX Risk / Return Rank: 37
CAVAX Sharpe Ratio Rank: 34
CAVAX Sortino Ratio Rank: 33
CAVAX Omega Ratio Rank: 33
CAVAX Calmar Ratio Rank: 39
CAVAX Martin Ratio Rank: 48

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.

SRAAX vs. CAVAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SEI Institutional Managed Trust Real Return Fund (SRAAX) and SEI Catholic Values Trust Catholic Values Equity Fund (CAVAX). 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.

	SRAAX	CAVAX	Difference
Sharpe ratio: Return per unit of total volatility	1.57	1.52	+0.06
Sortino ratio: Return per unit of downside risk	2.36	2.14	+0.22
Omega ratio: Gain probability vs. loss probability	1.33	1.27	+0.06
Calmar ratio: Return relative to maximum drawdown	2.91	2.19	+0.72
Martin ratio: Return relative to average drawdown	10.20	9.14	+1.06

SRAAX vs. CAVAX - Sharpe Ratio Comparison

The current SRAAX Sharpe Ratio is 1.57, which is comparable to the CAVAX Sharpe Ratio of 1.52. The chart below compares the historical Sharpe Ratios of SRAAX and CAVAX, 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

SRAAX vs. CAVAX - Drawdown Comparison

The maximum SRAAX drawdown since its inception was -6.72%, smaller than the maximum CAVAX drawdown of -36.55%. Use the drawdown chart below to compare losses from any high point for SRAAX and CAVAX.

Drawdown Indicators

	SRAAX	CAVAX	Difference
Max Drawdown Largest peak-to-trough decline	-6.72%	-36.55%	+29.83%
Max Drawdown (1Y) Largest decline over 1 year	-1.01%	-8.49%	+7.48%
Max Drawdown (3Y) Largest decline over 3 years	-1.53%	-17.95%	+16.42%
Max Drawdown (5Y) Largest decline over 5 years	-6.72%	-26.51%	+19.79%
Max Drawdown (10Y) Largest decline over 10 years	-6.72%	-36.55%	+29.83%
Current Drawdown Current decline from peak	-1.01%	-2.79%	+1.78%
Average Drawdown Average peak-to-trough decline	-1.61%	-5.04%	+3.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.29%	2.03%	-1.74%

Volatility

SRAAX vs. CAVAX - Volatility Comparison

The current volatility for SEI Institutional Managed Trust Real Return Fund (SRAAX) is 0.86%, while SEI Catholic Values Trust Catholic Values Equity Fund (CAVAX) has a volatility of 4.26%. This indicates that SRAAX experiences smaller price fluctuations and is considered to be less risky than CAVAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SRAAX	CAVAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.86%	4.26%	-3.40%
Volatility (6M) Calculated over the trailing 6-month period	1.43%	9.58%	-8.15%
Volatility (1Y) Calculated over the trailing 1-year period	1.88%	12.29%	-10.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.32%	16.16%	-12.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.76%	17.35%	-14.59%

SRAAX vs. CAVAX - Expense Ratio Comparison

SRAAX has a 0.45% expense ratio, which is lower than CAVAX's 0.86% expense ratio.

Dividends

SRAAX vs. CAVAX - Dividend Comparison

SRAAX's dividend yield for the trailing twelve months is around 3.51%, less than CAVAX's 6.31% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
CAVAX SEI Catholic Values Trust Catholic Values Equity Fund	6.31%	6.73%	7.01%	1.29%	3.67%	16.58%	2.98%	2.80%	5.66%	0.71%	0.99%
SRAAX SEI Institutional Managed Trust Real Return Fund	3.51%	4.25%	3.35%	2.58%	7.65%	6.49%	0.56%	1.75%	2.63%	1.12%	0.00%

Frequently Asked Questions

Can I hold both SRAAX and CAVAX in my portfolio?

SRAAX and CAVAX have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SRAAX or CAVAX?

CAVAX has higher volatility (4.26%) compared to SRAAX (0.86%). In terms of maximum drawdown, SRAAX dropped -6.72% vs CAVAX's -36.55%.

Which has better risk-adjusted returns?

SRAAX currently has the higher Sharpe Ratio (1.57 vs 1.52), 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.