SVOAX vs. TWEIX

Last updated Aug 1, 2026

SVOAX (SEI Institutional Managed Trust U.S. Managed Volatility Fund) and TWEIX (American Century Equity Income Fund) are both mutual funds - SVOAX is a Low Volatility fund managed by BlackRock, while TWEIX is a Dividend fund managed by American Century. Over the past 10 years, SVOAX returned 8.81%/yr vs 8.93%/yr for TWEIX. Their correlation of 0.92 means they have usually moved in the same direction. SVOAX charges 0.90%/yr vs 0.94%/yr for TWEIX.

Performance

SVOAX vs. TWEIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SEI Institutional Managed Trust U.S. Managed Volatility Fund (SVOAX) and American Century Equity Income Fund (TWEIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SVOAX achieves a 9.20% return, which is significantly lower than TWEIX's 13.18% return. Both investments have delivered pretty close results over the past 10 years, with SVOAX having a 8.81% annualized return and TWEIX not far ahead at 8.93%.

SVOAX

• 1D: -0.97%
• 1M: 3.51%
• 6M: 6.84%
• YTD: 9.20%
• 1Y: 14.77%
• 3Y*: 12.41%
• 5Y*: 8.33%
• 10Y*: 8.81%
• ALL TIME*: 8.95%

TWEIX

• 1D: 0.00%
• 1M: 2.27%
• 6M: 8.81%
• YTD: 13.18%
• 1Y: 19.64%
• 3Y*: 11.66%
• 5Y*: 7.98%
• 10Y*: 8.93%
• ALL TIME*: 10.15%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
SVOAX SEI Institutional Managed Trust U.S. Managed Volatility Fund	$0.00	$0.00	$0.00
TWEIX American Century Equity Income Fund	$0.00	$0.00	$0.00

SVOAX vs. TWEIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SVOAX SEI Institutional Managed Trust U.S. Managed Volatility Fund	9.20%	10.47%	15.46%	3.68%	-1.10%	19.77%	-2.15%	24.17%	-2.75%	14.04%
TWEIX American Century Equity Income Fund	13.18%	11.84%	10.51%	3.92%	-3.06%	16.83%	1.10%	24.14%	-3.77%	13.35%

Correlation

The correlation between SVOAX and TWEIX is 0.79, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.79
Correlation (3Y) Balances recent behavior with more history.	0.86
Correlation (5Y) Shows whether the relationship held over a longer period.	0.90
Correlation (10Y) Provides a long-term view across more market conditions.	0.91
Correlation (All Time) Calculated using the full available price history since Oct 29, 2004	0.92

The correlation between SVOAX and TWEIX shifts across timeframes, from 0.79 (1 year) to 0.92 (all time), reflecting how their relationship changes across market environments.

Return for Risk

SVOAX vs. TWEIX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

SVOAX

SVOAX Risk / Return Rank: 63
SVOAX Sharpe Ratio Rank: 59
SVOAX Sortino Ratio Rank: 64
SVOAX Omega Ratio Rank: 54
SVOAX Calmar Ratio Rank: 76
SVOAX Martin Ratio Rank: 62

TWEIX

TWEIX Risk / Return Rank: 83
TWEIX Sharpe Ratio Rank: 87
TWEIX Sortino Ratio Rank: 88
TWEIX Omega Ratio Rank: 81
TWEIX Calmar Ratio Rank: 84
TWEIX Martin Ratio Rank: 78

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

SVOAX vs. TWEIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SEI Institutional Managed Trust U.S. Managed Volatility Fund (SVOAX) and American Century Equity Income Fund (TWEIX). 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.

	SVOAX	TWEIX	Difference
Sharpe ratio: Return per unit of total volatility	1.47	2.11	-0.64
Sortino ratio: Return per unit of downside risk	2.25	3.22	-0.97
Omega ratio: Gain probability vs. loss probability	1.26	1.37	-0.11
Calmar ratio: Return relative to maximum drawdown	2.52	2.81	-0.30
Martin ratio: Return relative to average drawdown	7.98	9.29	-1.31

SVOAX vs. TWEIX - Sharpe Ratio Comparison

The current SVOAX Sharpe Ratio is 1.47, which is lower than the TWEIX Sharpe Ratio of 2.11. The chart below compares the historical Sharpe Ratios of SVOAX and TWEIX, 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

SVOAX vs. TWEIX - Drawdown Comparison

The maximum SVOAX drawdown since its inception was -47.22%, which is greater than TWEIX's maximum drawdown of -39.30%. Use the drawdown chart below to compare losses from any high point for SVOAX and TWEIX.

Drawdown Indicators

	SVOAX	TWEIX	Difference
Max Drawdown Largest peak-to-trough decline	-47.22%	-39.30%	-7.92%
Max Drawdown (1Y) Largest decline over 1 year	-5.39%	-6.43%	+1.04%
Max Drawdown (3Y) Largest decline over 3 years	-20.19%	-10.16%	-10.03%
Max Drawdown (5Y) Largest decline over 5 years	-20.19%	-13.69%	-6.50%
Max Drawdown (10Y) Largest decline over 10 years	-34.09%	-32.82%	-1.27%
Current Drawdown Current decline from peak	-1.11%	-0.63%	-0.48%
Average Drawdown Average peak-to-trough decline	-5.89%	-4.14%	-1.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.70%	1.95%	-0.25%

Volatility

SVOAX vs. TWEIX - Volatility Comparison

SEI Institutional Managed Trust U.S. Managed Volatility Fund (SVOAX) has a higher volatility of 3.76% compared to American Century Equity Income Fund (TWEIX) at 2.87%. This indicates that SVOAX's price experiences larger fluctuations and is considered to be riskier than TWEIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SVOAX	TWEIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.76%	2.87%	+0.89%
Volatility (6M) Calculated over the trailing 6-month period	7.12%	6.59%	+0.53%
Volatility (1Y) Calculated over the trailing 1-year period	9.23%	8.59%	+0.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.19%	10.75%	+5.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.17%	13.32%	+2.85%

SVOAX vs. TWEIX - Expense Ratio Comparison

SVOAX has a 0.90% expense ratio, which is lower than TWEIX's 0.94% expense ratio.

Dividends

SVOAX vs. TWEIX - Dividend Comparison

SVOAX's dividend yield for the trailing twelve months is around 15.57%, more than TWEIX's 9.31% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SVOAX SEI Institutional Managed Trust U.S. Managed Volatility Fund	15.57%	16.95%	17.05%	13.66%	11.01%	18.42%	1.47%	4.66%	13.86%	9.21%	4.35%	6.58%
TWEIX American Century Equity Income Fund	9.31%	10.35%	11.51%	8.02%	8.76%	6.83%	2.00%	7.38%	8.79%	11.95%	7.88%	10.49%

Frequently Asked Questions

Can I hold both SVOAX and TWEIX in my portfolio?

SVOAX and TWEIX have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SVOAX or TWEIX?

SVOAX has higher volatility (3.76%) compared to TWEIX (2.87%). In terms of maximum drawdown, SVOAX dropped -47.22% vs TWEIX's -39.30%.

Which has better risk-adjusted returns?

TWEIX currently has the higher Sharpe Ratio (2.11 vs 1.47), 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.