SUMAX vs. SPINX
Compare and contrast key facts about SEI Tax Exempt Trust Short Duration Municipal Fund (SUMAX) and SEI Institutional Investments Trust S&P 500 Index Fund (SPINX).
SUMAX is managed by SEI. It was launched on Nov 12, 2003. SPINX is a passively managed fund by SEI that tracks the performance of the S&P 500 Index. It was launched on Dec 18, 2013.
Performance
SUMAX vs. SPINX - Performance Comparison
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SUMAX vs. SPINX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SUMAX SEI Tax Exempt Trust Short Duration Municipal Fund | 0.34% | 4.38% | 2.49% | 3.22% | -2.08% | -0.01% | 1.77% | 2.28% | 1.09% | 0.88% |
SPINX SEI Institutional Investments Trust S&P 500 Index Fund | -3.64% | 17.89% | 24.02% | 26.24% | -18.27% | 28.62% | 18.35% | 31.42% | -4.46% | 21.74% |
Returns By Period
In the year-to-date period, SUMAX achieves a 0.34% return, which is significantly higher than SPINX's -3.64% return. Over the past 10 years, SUMAX has underperformed SPINX with an annualized return of 1.38%, while SPINX has yielded a comparatively higher 14.01% annualized return.
SUMAX
- 1D
- 0.10%
- 1M
- -0.40%
- YTD
- 0.34%
- 6M
- 0.95%
- 1Y
- 3.01%
- 3Y*
- 3.08%
- 5Y*
- 1.63%
- 10Y*
- 1.38%
SPINX
- 1D
- 0.75%
- 1M
- -3.41%
- YTD
- -3.64%
- 6M
- -1.40%
- 1Y
- 17.43%
- 3Y*
- 18.27%
- 5Y*
- 11.71%
- 10Y*
- 14.01%
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SUMAX vs. SPINX - Expense Ratio Comparison
SUMAX has a 0.63% expense ratio, which is higher than SPINX's 0.12% expense ratio.
Return for Risk
SUMAX vs. SPINX — Risk / Return Rank
SUMAX
SPINX
SUMAX vs. SPINX - 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 SEI Institutional Investments Trust S&P 500 Index Fund (SPINX). 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 | SPINX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.08 | 1.00 | +1.08 |
Sortino ratioReturn per unit of downside risk | 3.35 | 1.52 | +1.83 |
Omega ratioGain probability vs. loss probability | 1.85 | 1.23 | +0.62 |
Calmar ratioReturn relative to maximum drawdown | 2.59 | 1.54 | +1.05 |
Martin ratioReturn relative to average drawdown | 11.38 | 7.31 | +4.07 |
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 | SPINX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.08 | 1.00 | +1.08 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.19 | 0.52 | +0.67 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.14 | 0.67 | +0.47 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.54 | 0.65 | +0.89 |
Correlation
The correlation between SUMAX and SPINX is 0.04, 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. SPINX - Dividend Comparison
SUMAX's dividend yield for the trailing twelve months is around 2.56%, less than SPINX's 12.35% 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% |
SPINX SEI Institutional Investments Trust S&P 500 Index Fund | 12.35% | 11.90% | 26.02% | 9.77% | 9.59% | 6.58% | 3.58% | 3.01% | 4.94% | 2.32% | 1.97% | 2.29% |
Drawdowns
SUMAX vs. SPINX - Drawdown Comparison
The maximum SUMAX drawdown since its inception was -3.70%, smaller than the maximum SPINX drawdown of -33.82%. Use the drawdown chart below to compare losses from any high point for SUMAX and SPINX.
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Drawdown Indicators
| SUMAX | SPINX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.70% | -33.82% | +30.12% |
Max Drawdown (1Y)Largest decline over 1 year | -1.20% | -8.92% | +7.72% |
Max Drawdown (5Y)Largest decline over 5 years | -3.70% | -32.91% | +29.21% |
Max Drawdown (10Y)Largest decline over 10 years | -3.70% | -33.82% | +30.12% |
Current DrawdownCurrent decline from peak | -0.59% | -10.36% | +9.77% |
Average DrawdownAverage peak-to-trough decline | -0.26% | -5.25% | +4.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.27% | 2.55% | -2.28% |
Volatility
SUMAX vs. SPINX - Volatility Comparison
The current volatility for SEI Tax Exempt Trust Short Duration Municipal Fund (SUMAX) is 0.31%, while SEI Institutional Investments Trust S&P 500 Index Fund (SPINX) has a volatility of 5.39%. This indicates that SUMAX experiences smaller price fluctuations and is considered to be less risky than SPINX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SUMAX | SPINX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.31% | 5.39% | -5.08% |
Volatility (6M)Calculated over the trailing 6-month period | 0.74% | 9.61% | -8.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.46% | 18.34% | -16.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.37% | 22.50% | -21.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.22% | 20.93% | -19.71% |