SUMAX vs. MUB
Compare and contrast key facts about SEI Tax Exempt Trust Short Duration Municipal Fund (SUMAX) and iShares National AMT-Free Muni Bond ETF (MUB).
SUMAX is managed by SEI. It was launched on Nov 12, 2003. MUB is a passively managed fund by iShares that tracks the performance of the S&P National AMT-Free Municipal Bond Index. It was launched on Sep 7, 2007.
Performance
SUMAX vs. MUB - Performance Comparison
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SUMAX vs. MUB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SUMAX SEI Tax Exempt Trust Short Duration Municipal Fund | 0.24% | 4.38% | 2.49% | 3.22% | -2.08% | -0.01% | 1.77% | 2.28% | 1.09% | 0.88% |
MUB iShares National AMT-Free Muni Bond ETF | 0.04% | 3.78% | 1.26% | 5.56% | -7.34% | 1.02% | 5.12% | 7.06% | 0.93% | 4.72% |
Returns By Period
In the year-to-date period, SUMAX achieves a 0.24% return, which is significantly higher than MUB's 0.04% return. Over the past 10 years, SUMAX has underperformed MUB with an annualized return of 1.37%, while MUB has yielded a comparatively higher 2.00% annualized return.
SUMAX
- 1D
- 0.10%
- 1M
- -0.60%
- YTD
- 0.24%
- 6M
- 0.84%
- 1Y
- 2.90%
- 3Y*
- 3.04%
- 5Y*
- 1.61%
- 10Y*
- 1.37%
MUB
- 1D
- 0.42%
- 1M
- -1.55%
- YTD
- 0.04%
- 6M
- 1.52%
- 1Y
- 4.03%
- 3Y*
- 2.67%
- 5Y*
- 0.88%
- 10Y*
- 2.00%
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SUMAX vs. MUB - Expense Ratio Comparison
SUMAX has a 0.63% expense ratio, which is higher than MUB's 0.07% expense ratio.
Return for Risk
SUMAX vs. MUB — Risk / Return Rank
SUMAX
MUB
SUMAX vs. MUB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SEI Tax Exempt Trust Short Duration Municipal Fund (SUMAX) and iShares National AMT-Free Muni Bond ETF (MUB). 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.
| SUMAX | MUB | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.08 | 0.98 | +1.10 |
Sortino ratioReturn per unit of downside risk | 3.35 | 1.27 | +2.07 |
Omega ratioGain probability vs. loss probability | 1.85 | 1.21 | +0.64 |
Calmar ratioReturn relative to maximum drawdown | 2.81 | 1.33 | +1.48 |
Martin ratioReturn relative to average drawdown | 12.45 | 4.22 | +8.22 |
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
| SUMAX | MUB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.08 | 0.98 | +1.10 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.18 | 0.22 | +0.96 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.13 | 0.41 | +0.72 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.54 | 0.58 | +0.96 |
Correlation
The correlation between SUMAX and MUB is 0.29, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
SUMAX vs. MUB - Dividend Comparison
SUMAX's dividend yield for the trailing twelve months is around 2.56%, less than MUB's 3.19% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SUMAX SEI Tax Exempt Trust Short Duration Municipal Fund | 2.56% | 3.37% | 2.36% | 1.73% | 0.71% | 0.58% | 1.06% | 1.45% | 1.08% | 0.67% | 0.39% | 0.79% |
MUB iShares National AMT-Free Muni Bond ETF | 3.19% | 3.14% | 3.01% | 2.65% | 2.11% | 1.81% | 2.11% | 2.42% | 2.46% | 2.26% | 2.21% | 2.51% |
Drawdowns
SUMAX vs. MUB - Drawdown Comparison
The maximum SUMAX drawdown since its inception was -3.70%, smaller than the maximum MUB drawdown of -13.68%. Use the drawdown chart below to compare losses from any high point for SUMAX and MUB.
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Drawdown Indicators
| SUMAX | MUB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.70% | -13.68% | +9.98% |
Max Drawdown (1Y)Largest decline over 1 year | -1.20% | -3.30% | +2.10% |
Max Drawdown (5Y)Largest decline over 5 years | -3.70% | -11.88% | +8.18% |
Max Drawdown (10Y)Largest decline over 10 years | -3.70% | -13.68% | +9.98% |
Current DrawdownCurrent decline from peak | -0.69% | -1.87% | +1.18% |
Average DrawdownAverage peak-to-trough decline | -0.26% | -2.24% | +1.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.27% | 1.04% | -0.77% |
Volatility
SUMAX vs. MUB - Volatility Comparison
The current volatility for SEI Tax Exempt Trust Short Duration Municipal Fund (SUMAX) is 0.29%, while iShares National AMT-Free Muni Bond ETF (MUB) has a volatility of 1.56%. This indicates that SUMAX experiences smaller price fluctuations and is considered to be less risky than MUB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SUMAX | MUB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.29% | 1.56% | -1.27% |
Volatility (6M)Calculated over the trailing 6-month period | 0.77% | 2.07% | -1.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.49% | 4.15% | -2.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.37% | 4.04% | -2.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.22% | 4.91% | -3.69% |