SSPIX vs. VTMSX

Last updated Jul 14, 2026

SSPIX (SEI Institutional Managed Trust S&P 500 Index Fund) and VTMSX (Vanguard Tax-Managed Small-Cap Fund Admiral Shares) are both mutual funds - SSPIX is a S&P 500 fund tracking the S&P 500 Index, while VTMSX is a Small Cap Blend Equities fund managed by BlackRock. Over the past 10 years, SSPIX returned 14.93%/yr vs 10.79%/yr for VTMSX. Their correlation of 0.83 suggests significant overlap in exposure. SSPIX charges 0.25%/yr vs 0.09%/yr for VTMSX.

Performance

SSPIX vs. VTMSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SEI Institutional Managed Trust S&P 500 Index Fund (SSPIX) and Vanguard Tax-Managed Small-Cap Fund Admiral Shares (VTMSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SSPIX achieves a 11.13% return, which is significantly lower than VTMSX's 21.86% return. Over the past 10 years, SSPIX has outperformed VTMSX with an annualized return of 14.93%, while VTMSX has yielded a comparatively lower 10.79% annualized return.

SSPIX

• 1D: 0.43%
• 1M: 2.00%
• 6M: 8.99%
• YTD: 11.13%
• 1Y: 21.97%
• 3Y*: 20.71%
• 5Y*: 12.88%
• 10Y*: 14.93%

VTMSX

• 1D: 0.02%
• 1M: 1.52%
• 6M: 15.74%
• YTD: 21.86%
• 1Y: 30.81%
• 3Y*: 14.98%
• 5Y*: 7.23%
• 10Y*: 10.79%

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

SSPIX vs. VTMSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SSPIX SEI Institutional Managed Trust S&P 500 Index Fund	11.13%	17.44%	24.60%	26.00%	-18.52%	28.56%	18.13%	31.25%	-4.61%	20.83%
VTMSX Vanguard Tax-Managed Small-Cap Fund Admiral Shares	21.86%	5.93%	8.61%	15.95%	-16.16%	27.08%	11.05%	23.28%	-8.62%	13.05%

Correlation

The correlation between SSPIX and VTMSX is 0.72, 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	0.72
Correlation (3Y) Calculated over the trailing 3-year period	0.73
Correlation (5Y) Calculated over the trailing 5-year period	0.79
Correlation (10Y) Calculated over the trailing 10-year period	0.77
Correlation (All Time) Calculated using the full available price history since Mar 25, 1999	0.83

The correlation between SSPIX and VTMSX shifts across timeframes, from 0.72 (1 year) to 0.83 (all time), reflecting how their relationship changes across market environments.

Return for Risk

SSPIX vs. VTMSX — Risk / Return Rank

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

SSPIX

SSPIX Risk / Return Rank: 63
SSPIX Sharpe Ratio Rank: 61
SSPIX Sortino Ratio Rank: 57
SSPIX Omega Ratio Rank: 59
SSPIX Calmar Ratio Rank: 63
SSPIX Martin Ratio Rank: 74

VTMSX

VTMSX Risk / Return Rank: 68
VTMSX Sharpe Ratio Rank: 57
VTMSX Sortino Ratio Rank: 63
VTMSX Omega Ratio Rank: 50
VTMSX Calmar Ratio Rank: 88
VTMSX Martin Ratio Rank: 82

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.

SSPIX vs. VTMSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SEI Institutional Managed Trust S&P 500 Index Fund (SSPIX) and Vanguard Tax-Managed Small-Cap Fund Admiral Shares (VTMSX). 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.

	SSPIX	VTMSX	Difference
Sharpe ratio: Return per unit of total volatility	1.74	1.68	+0.05
Sortino ratio: Return per unit of downside risk	2.39	2.50	-0.12
Omega ratio: Gain probability vs. loss probability	1.32	1.29	+0.02
Calmar ratio: Return relative to maximum drawdown	2.43	3.45	-1.02
Martin ratio: Return relative to average drawdown	10.59	11.53	-0.94

SSPIX vs. VTMSX - Sharpe Ratio Comparison

The current SSPIX Sharpe Ratio is 1.74, which is comparable to the VTMSX Sharpe Ratio of 1.68. The chart below compares the historical Sharpe Ratios of SSPIX and VTMSX, 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

SSPIX vs. VTMSX - Drawdown Comparison

The maximum SSPIX drawdown since its inception was -55.66%, roughly equal to the maximum VTMSX drawdown of -57.84%. Use the drawdown chart below to compare losses from any high point for SSPIX and VTMSX.

Drawdown Indicators

	SSPIX	VTMSX	Difference
Max Drawdown Largest peak-to-trough decline	-55.66%	-57.84%	+2.18%
Max Drawdown (1Y) Largest decline over 1 year	-8.96%	-8.59%	-0.37%
Max Drawdown (3Y) Largest decline over 3 years	-25.65%	-27.93%	+2.28%
Max Drawdown (5Y) Largest decline over 5 years	-25.65%	-27.93%	+2.28%
Max Drawdown (10Y) Largest decline over 10 years	-33.82%	-43.88%	+10.06%
Current Drawdown Current decline from peak	-0.35%	-1.87%	+1.52%
Average Drawdown Average peak-to-trough decline	-10.47%	-8.90%	-1.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.05%	2.58%	-0.53%

Volatility

SSPIX vs. VTMSX - Volatility Comparison

The current volatility for SEI Institutional Managed Trust S&P 500 Index Fund (SSPIX) is 4.26%, while Vanguard Tax-Managed Small-Cap Fund Admiral Shares (VTMSX) has a volatility of 4.67%. This indicates that SSPIX experiences smaller price fluctuations and is considered to be less risky than VTMSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SSPIX	VTMSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.26%	4.67%	-0.41%
Volatility (6M) Calculated over the trailing 6-month period	9.92%	12.09%	-2.17%
Volatility (1Y) Calculated over the trailing 1-year period	12.52%	17.60%	-5.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.55%	21.42%	-2.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.86%	23.06%	-4.20%

SSPIX vs. VTMSX - Expense Ratio Comparison

SSPIX has a 0.25% expense ratio, which is higher than VTMSX's 0.09% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

SSPIX vs. VTMSX - Dividend Comparison

SSPIX's dividend yield for the trailing twelve months is around 8.04%, more than VTMSX's 1.20% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SSPIX SEI Institutional Managed Trust S&P 500 Index Fund	8.04%	8.91%	12.73%	4.51%	10.84%	7.47%	6.18%	4.46%	4.37%	1.96%	4.62%	1.77%
VTMSX Vanguard Tax-Managed Small-Cap Fund Admiral Shares	1.20%	1.28%	1.44%	1.50%	1.51%	1.16%	1.09%	1.15%	1.26%	1.11%	1.01%	1.26%

Frequently Asked Questions

Can I hold both SSPIX and VTMSX in my portfolio?

SSPIX and VTMSX have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SSPIX or VTMSX?

VTMSX has higher volatility (4.67%) compared to SSPIX (4.26%). In terms of maximum drawdown, SSPIX dropped -55.66% vs VTMSX's -57.84%.

Which has better risk-adjusted returns?

SSPIX currently has the higher Sharpe Ratio (1.74 vs 1.68), 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.