TMMAX vs. SHXPX

Last updated Jun 25, 2026

TMMAX (SEI Institutional Managed Trust Tax-Managed Managed Volatility Fund) and SHXPX (American Beacon Shapiro Equity Opportunities Fund) are both Large Cap Value Equities funds. At a 0.09 correlation, their price movements are largely independent. TMMAX charges 1.00%/yr vs 1.21%/yr for SHXPX.

Performance

TMMAX vs. SHXPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SEI Institutional Managed Trust Tax-Managed Managed Volatility Fund (TMMAX) and American Beacon Shapiro Equity Opportunities Fund (SHXPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

TMMAX

• 1D: 1.11%
• 1M: -2.27%
• YTD: 3.01%
• 6M: 1.99%
• 1Y: 8.00%
• 3Y*: 11.95%
• 5Y*: 9.35%
• 10Y*: 9.96%

SHXPX

• 1D: -52.00%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TMMAX vs. SHXPX - Yearly Performance Comparison

	2026 (YTD)
TMMAX SEI Institutional Managed Trust Tax-Managed Managed Volatility Fund	-1.46%
SHXPX American Beacon Shapiro Equity Opportunities Fund	-51.75%

Correlation

The correlation between TMMAX and SHXPX is 0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 28, 2026	0.09

Return for Risk

TMMAX vs. SHXPX — Risk / Return Rank

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

TMMAX

TMMAX Risk / Return Rank: 18
TMMAX Sharpe Ratio Rank: 16
TMMAX Sortino Ratio Rank: 17
TMMAX Omega Ratio Rank: 15
TMMAX Calmar Ratio Rank: 20
TMMAX Martin Ratio Rank: 24

SHXPX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

TMMAX vs. SHXPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SEI Institutional Managed Trust Tax-Managed Managed Volatility Fund (TMMAX) and American Beacon Shapiro Equity Opportunities Fund (SHXPX). 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.

	TMMAX	SHXPX	Difference
Sharpe ratio: Return per unit of total volatility	1.01	—	—
Sortino ratio: Return per unit of downside risk	1.49	—	—
Omega ratio: Gain probability vs. loss probability	1.18	—	—
Calmar ratio: Return relative to maximum drawdown	1.47	—	—
Martin ratio: Return relative to average drawdown	4.99	—	—

Drawdowns

TMMAX vs. SHXPX - Drawdown Comparison

The maximum TMMAX drawdown since its inception was -41.50%, smaller than the maximum SHXPX drawdown of -52.00%. Use the drawdown chart below to compare losses from any high point for TMMAX and SHXPX.

Drawdown Indicators

	TMMAX	SHXPX	Difference
Max Drawdown Largest peak-to-trough decline	-41.50%	-52.00%	+10.50%
Max Drawdown (1Y) Largest decline over 1 year	-5.78%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-23.00%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-23.00%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-33.41%	—	—
Current Drawdown Current decline from peak	-8.13%	-52.00%	+43.87%
Average Drawdown Average peak-to-trough decline	-5.57%	-2.90%	-2.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.69%	—	—

Volatility

Volatility by Period

	TMMAX	SHXPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.85%	—	—
Volatility (6M) Calculated over the trailing 6-month period	6.20%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	8.41%	194.69%	-186.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.07%	194.69%	-175.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.81%	194.69%	-176.88%

TMMAX vs. SHXPX - Expense Ratio Comparison

TMMAX has a 1.00% expense ratio, which is lower than SHXPX's 1.21% expense ratio.

Dividends

TMMAX vs. SHXPX - Dividend Comparison

TMMAX's dividend yield for the trailing twelve months is around 24.56%, while SHXPX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SHXPX American Beacon Shapiro Equity Opportunities Fund	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TMMAX SEI Institutional Managed Trust Tax-Managed Managed Volatility Fund	24.56%	25.19%	23.39%	15.23%	6.54%	4.73%	2.15%	3.67%	4.91%	4.10%	4.17%	5.57%

Frequently Asked Questions

Can I hold both TMMAX and SHXPX in my portfolio?

TMMAX and SHXPX have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.