TMMAX vs. WFSPX
Compare and contrast key facts about SEI Institutional Managed Trust Tax-Managed Managed Volatility Fund (TMMAX) and iShares S&P 500 Index Fund (WFSPX).
TMMAX is managed by BlackRock. It was launched on Dec 20, 2007. WFSPX is a passively managed fund by BlackRock that tracks the performance of the S&P 500 Index. It was launched on Jul 30, 1993.
Performance
TMMAX vs. WFSPX - Performance Comparison
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TMMAX vs. WFSPX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TMMAX SEI Institutional Managed Trust Tax-Managed Managed Volatility Fund | -0.07% | 11.03% | 17.07% | 7.32% | -3.11% | 24.10% | 1.32% | 24.00% | -2.84% | 15.19% |
WFSPX iShares S&P 500 Index Fund | -7.06% | 17.83% | 24.94% | 26.25% | -18.14% | 28.63% | 18.43% | 31.45% | -4.83% | 21.27% |
Returns By Period
In the year-to-date period, TMMAX achieves a -0.07% return, which is significantly higher than WFSPX's -7.06% return. Over the past 10 years, TMMAX has underperformed WFSPX with an annualized return of 9.51%, while WFSPX has yielded a comparatively higher 13.63% annualized return.
TMMAX
- 1D
- 0.40%
- 1M
- -5.40%
- YTD
- -0.07%
- 6M
- 0.57%
- 1Y
- 6.09%
- 3Y*
- 11.46%
- 5Y*
- 9.81%
- 10Y*
- 9.51%
WFSPX
- 1D
- -0.39%
- 1M
- -7.68%
- YTD
- -7.06%
- 6M
- -4.63%
- 1Y
- 14.40%
- 3Y*
- 17.13%
- 5Y*
- 11.37%
- 10Y*
- 13.63%
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TMMAX vs. WFSPX - Expense Ratio Comparison
TMMAX has a 1.00% expense ratio, which is higher than WFSPX's 0.03% expense ratio.
Return for Risk
TMMAX vs. WFSPX — Risk / Return Rank
TMMAX
WFSPX
TMMAX vs. WFSPX - 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 iShares S&P 500 Index Fund (WFSPX). 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.
| TMMAX | WFSPX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.59 | 0.84 | -0.25 |
Sortino ratioReturn per unit of downside risk | 0.90 | 1.30 | -0.40 |
Omega ratioGain probability vs. loss probability | 1.13 | 1.20 | -0.07 |
Calmar ratioReturn relative to maximum drawdown | 0.72 | 1.06 | -0.33 |
Martin ratioReturn relative to average drawdown | 3.46 | 5.13 | -1.67 |
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
| TMMAX | WFSPX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.59 | 0.84 | -0.25 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.52 | 0.68 | -0.16 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.54 | 0.76 | -0.22 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.53 | 0.13 | +0.40 |
Correlation
The correlation between TMMAX and WFSPX is 0.88, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
TMMAX vs. WFSPX - Dividend Comparison
TMMAX's dividend yield for the trailing twelve months is around 25.20%, more than WFSPX's 1.58% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TMMAX SEI Institutional Managed Trust Tax-Managed Managed Volatility Fund | 25.20% | 25.19% | 23.39% | 15.23% | 6.54% | 4.73% | 2.15% | 3.67% | 4.91% | 4.10% | 4.17% | 5.57% |
WFSPX iShares S&P 500 Index Fund | 1.58% | 1.72% | 1.41% | 1.50% | 2.02% | 1.82% | 1.66% | 1.99% | 2.00% | 1.62% | 2.37% | 2.49% |
Drawdowns
TMMAX vs. WFSPX - Drawdown Comparison
The maximum TMMAX drawdown since its inception was -41.50%, smaller than the maximum WFSPX drawdown of -58.21%. Use the drawdown chart below to compare losses from any high point for TMMAX and WFSPX.
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Drawdown Indicators
| TMMAX | WFSPX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.50% | -58.21% | +16.71% |
Max Drawdown (1Y)Largest decline over 1 year | -8.75% | -12.11% | +3.36% |
Max Drawdown (5Y)Largest decline over 5 years | -23.00% | -24.51% | +1.51% |
Max Drawdown (10Y)Largest decline over 10 years | -33.41% | -33.74% | +0.33% |
Current DrawdownCurrent decline from peak | -10.87% | -8.90% | -1.97% |
Average DrawdownAverage peak-to-trough decline | -5.55% | -12.84% | +7.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.83% | 2.49% | -0.66% |
Volatility
TMMAX vs. WFSPX - Volatility Comparison
The current volatility for SEI Institutional Managed Trust Tax-Managed Managed Volatility Fund (TMMAX) is 2.50%, while iShares S&P 500 Index Fund (WFSPX) has a volatility of 4.24%. This indicates that TMMAX experiences smaller price fluctuations and is considered to be less risky than WFSPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TMMAX | WFSPX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.50% | 4.24% | -1.74% |
Volatility (6M)Calculated over the trailing 6-month period | 5.80% | 9.08% | -3.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.86% | 18.06% | -6.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.09% | 16.84% | +2.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.81% | 17.98% | -0.17% |