SUSAX vs. SGYAX

Last updated Jun 26, 2026

SUSAX (SEI Institutional Investments Trust Ultra Short Duration Bond Fund) and SGYAX (SEI Institutional Investments Trust High Yield Bond Fund) are both mutual funds - SUSAX is a Ultrashort Bond fund managed by SEI, while SGYAX is a High Yield Bonds fund managed by SEI. Over the past 10 years, SUSAX returned 2.53%/yr vs 5.87%/yr for SGYAX. At a 0.27 correlation, their price movements are largely independent. SUSAX charges 0.22%/yr vs 0.56%/yr for SGYAX.

Performance

SUSAX vs. SGYAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SEI Institutional Investments Trust Ultra Short Duration Bond Fund (SUSAX) and SEI Institutional Investments Trust High Yield Bond Fund (SGYAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SUSAX achieves a 1.26% return, which is significantly higher than SGYAX's 1.15% return. Over the past 10 years, SUSAX has underperformed SGYAX with an annualized return of 2.53%, while SGYAX has yielded a comparatively higher 5.87% annualized return.

SUSAX

• 1D: 0.10%
• 1M: 0.35%
• YTD: 1.26%
• 6M: 1.63%
• 1Y: 4.17%
• 3Y*: 4.89%
• 5Y*: 3.03%
• 10Y*: 2.53%

SGYAX

• 1D: 0.00%
• 1M: 0.34%
• YTD: 1.15%
• 6M: 1.85%
• 1Y: 5.92%
• 3Y*: 8.53%
• 5Y*: 3.48%
• 10Y*: 5.87%

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

SUSAX vs. SGYAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SUSAX SEI Institutional Investments Trust Ultra Short Duration Bond Fund	1.26%	5.09%	5.31%	5.00%	-1.44%	0.17%	2.06%	3.55%	1.89%	1.77%
SGYAX SEI Institutional Investments Trust High Yield Bond Fund	1.15%	8.01%	9.12%	10.89%	-13.29%	9.62%	6.04%	14.01%	-2.04%	8.08%

Correlation

The correlation between SUSAX and SGYAX is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.40
Correlation (3Y) Calculated over the trailing 3-year period	0.40
Correlation (5Y) Calculated over the trailing 5-year period	0.38
Correlation (10Y) Calculated over the trailing 10-year period	0.32
Correlation (All Time) Calculated using the full available price history since Jun 22, 2011	0.27

The correlation between SUSAX and SGYAX shifts across timeframes, from 0.27 (all time) to 0.40 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

SUSAX vs. SGYAX — Risk / Return Rank

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

SUSAX

SUSAX Risk / Return Rank: 98
SUSAX Sharpe Ratio Rank: 96
SUSAX Sortino Ratio Rank: 99
SUSAX Omega Ratio Rank: 99
SUSAX Calmar Ratio Rank: 98
SUSAX Martin Ratio Rank: 99

SGYAX

SGYAX Risk / Return Rank: 61
SGYAX Sharpe Ratio Rank: 51
SGYAX Sortino Ratio Rank: 81
SGYAX Omega Ratio Rank: 78
SGYAX Calmar Ratio Rank: 44
SGYAX Martin Ratio Rank: 53

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.

SUSAX vs. SGYAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SEI Institutional Investments Trust Ultra Short Duration Bond Fund (SUSAX) and SEI Institutional Investments Trust High Yield Bond Fund (SGYAX). 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.

	SUSAX	SGYAX	Difference
Sharpe ratio: Return per unit of total volatility	2.94	1.75	+1.19
Sortino ratio: Return per unit of downside risk	7.65	3.27	+4.39
Omega ratio: Gain probability vs. loss probability	2.49	1.42	+1.08
Calmar ratio: Return relative to maximum drawdown	8.57	2.20	+6.38
Martin ratio: Return relative to average drawdown	38.38	9.32	+29.07

SUSAX vs. SGYAX - Sharpe Ratio Comparison

The current SUSAX Sharpe Ratio is 2.94, which is higher than the SGYAX Sharpe Ratio of 1.75. The chart below compares the historical Sharpe Ratios of SUSAX and SGYAX, 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

SUSAX vs. SGYAX - Drawdown Comparison

The maximum SUSAX drawdown since its inception was -4.28%, smaller than the maximum SGYAX drawdown of -45.51%. Use the drawdown chart below to compare losses from any high point for SUSAX and SGYAX.

Drawdown Indicators

	SUSAX	SGYAX	Difference
Max Drawdown Largest peak-to-trough decline	-4.28%	-45.51%	+41.23%
Max Drawdown (1Y) Largest decline over 1 year	-0.50%	-2.77%	+2.27%
Max Drawdown (3Y) Largest decline over 3 years	-0.50%	-4.18%	+3.68%
Max Drawdown (5Y) Largest decline over 5 years	-2.72%	-15.45%	+12.73%
Max Drawdown (10Y) Largest decline over 10 years	-4.28%	-21.85%	+17.57%
Current Drawdown Current decline from peak	-0.10%	-0.43%	+0.33%
Average Drawdown Average peak-to-trough decline	-0.22%	-6.04%	+5.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.11%	0.65%	-0.54%

Volatility

SUSAX vs. SGYAX - Volatility Comparison

The current volatility for SEI Institutional Investments Trust Ultra Short Duration Bond Fund (SUSAX) is 0.52%, while SEI Institutional Investments Trust High Yield Bond Fund (SGYAX) has a volatility of 0.93%. This indicates that SUSAX experiences smaller price fluctuations and is considered to be less risky than SGYAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SUSAX	SGYAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.52%	0.93%	-0.41%
Volatility (6M) Calculated over the trailing 6-month period	1.03%	2.71%	-1.68%
Volatility (1Y) Calculated over the trailing 1-year period	1.46%	3.48%	-2.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.41%	4.80%	-3.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.29%	5.29%	-4.00%

SUSAX vs. SGYAX - Expense Ratio Comparison

SUSAX has a 0.22% expense ratio, which is lower than SGYAX's 0.56% expense ratio.

Dividends

SUSAX vs. SGYAX - Dividend Comparison

SUSAX's dividend yield for the trailing twelve months is around 4.39%, less than SGYAX's 8.78% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SGYAX SEI Institutional Investments Trust High Yield Bond Fund	8.78%	8.88%	8.68%	10.08%	8.79%	5.37%	7.30%	7.15%	7.31%	7.27%	7.30%	7.88%
SUSAX SEI Institutional Investments Trust Ultra Short Duration Bond Fund	4.39%	4.55%	4.44%	3.02%	1.19%	0.78%	1.53%	2.98%	2.48%	1.75%	1.43%	1.15%

Frequently Asked Questions

Can I hold both SUSAX and SGYAX in my portfolio?

SUSAX and SGYAX have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SUSAX or SGYAX?

SGYAX has higher volatility (0.93%) compared to SUSAX (0.52%). In terms of maximum drawdown, SUSAX dropped -4.28% vs SGYAX's -45.51%.

Which has better risk-adjusted returns?

SUSAX currently has the higher Sharpe Ratio (2.94 vs 1.75), 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.