WATFX vs. TRLVX
WATFX (Western Asset Core Bond Fund) and TRLVX (SEI Institutional Managed Trust Core Fixed Income Fund) are both Intermediate Core Bond funds. Over the past 10 years, WATFX returned 1.45%/yr vs 1.49%/yr for TRLVX. Their correlation of 0.89 suggests significant overlap in exposure. WATFX charges 0.46%/yr vs 0.66%/yr for TRLVX.
Performance
WATFX vs. TRLVX - Performance Comparison
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Returns By Period
In the year-to-date period, WATFX achieves a -0.36% return, which is significantly lower than TRLVX's -0.15% return. Both investments have delivered pretty close results over the past 10 years, with WATFX having a 1.45% annualized return and TRLVX not far ahead at 1.49%.
WATFX
- 1D
- -0.38%
- 1M
- 0.59%
- YTD
- -0.36%
- 6M
- 0.11%
- 1Y
- 4.28%
- 3Y*
- 3.52%
- 5Y*
- -1.09%
- 10Y*
- 1.45%
TRLVX
- 1D
- -0.31%
- 1M
- 0.54%
- YTD
- -0.15%
- 6M
- 0.17%
- 1Y
- 3.81%
- 3Y*
- 3.62%
- 5Y*
- -0.66%
- 10Y*
- 1.49%
WATFX vs. TRLVX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
WATFX Western Asset Core Bond Fund | -0.36% | 8.01% | 0.44% | 5.52% | -17.32% | -2.13% | 9.12% | 10.44% | -0.62% | 5.21% |
TRLVX SEI Institutional Managed Trust Core Fixed Income Fund | -0.15% | 7.06% | 0.83% | 5.92% | -15.66% | -1.63% | 9.04% | 9.25% | -0.47% | 4.15% |
Correlation
The correlation between WATFX and TRLVX is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.96 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.97 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.97 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.95 |
Correlation (All Time) Calculated using the full available price history since Aug 31, 1990 | 0.89 |
The correlation between WATFX and TRLVX has been stable across timeframes, ranging from 0.89 to 0.97 - a consistent structural relationship.
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Return for Risk
WATFX vs. TRLVX — Risk / Return Rank
WATFX
TRLVX
WATFX vs. TRLVX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Western Asset Core Bond Fund (WATFX) and SEI Institutional Managed Trust Core Fixed Income Fund (TRLVX). 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.
| WATFX | TRLVX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.11 | ||
| Sortino ratioReturn per unit of downside risk | +0.16 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.17 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.48 | 1.23 | +0.25 |
| Martin ratioReturn relative to average drawdown | 4.14 | 3.47 | +0.67 |
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Drawdowns
WATFX vs. TRLVX - Drawdown Comparison
The maximum WATFX drawdown since its inception was -23.69%, which is greater than TRLVX's maximum drawdown of -20.98%. Use the drawdown chart below to compare losses from any high point for WATFX and TRLVX.
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Drawdown Indicators
| WATFX | TRLVX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.69% | -20.98% | -2.71% |
Max Drawdown (1Y)Largest decline over 1 year | -3.04% | -3.29% | +0.25% |
Max Drawdown (3Y)Largest decline over 3 years | -8.35% | -6.90% | -1.45% |
Max Drawdown (5Y)Largest decline over 5 years | -23.26% | -20.68% | -2.58% |
Max Drawdown (10Y)Largest decline over 10 years | -23.69% | -20.98% | -2.71% |
Current DrawdownCurrent decline from peak | -7.70% | -5.28% | -2.42% |
Average DrawdownAverage peak-to-trough decline | -2.99% | -2.49% | -0.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.09% | 1.17% | -0.08% |
Volatility
WATFX vs. TRLVX - Volatility Comparison
Western Asset Core Bond Fund (WATFX) has a higher volatility of 1.24% compared to SEI Institutional Managed Trust Core Fixed Income Fund (TRLVX) at 1.16%. This indicates that WATFX's price experiences larger fluctuations and is considered to be riskier than TRLVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| WATFX | TRLVX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.24% | 1.16% | +0.08% |
Volatility (6M)Calculated over the trailing 6-month period | 2.96% | 3.04% | -0.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.08% | 4.08% | 0.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.83% | 6.38% | +0.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.54% | 5.25% | +0.29% |
WATFX vs. TRLVX - Expense Ratio Comparison
WATFX has a 0.46% expense ratio, which is lower than TRLVX's 0.66% expense ratio.
Dividends
WATFX vs. TRLVX - Dividend Comparison
WATFX's dividend yield for the trailing twelve months is around 3.95%, more than TRLVX's 3.67% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TRLVX SEI Institutional Managed Trust Core Fixed Income Fund | 3.67% | 3.52% | 4.01% | 3.38% | 1.80% | 1.90% | 5.98% | 3.73% | 2.77% | 2.36% | 4.46% | 3.64% |
WATFX Western Asset Core Bond Fund | 3.95% | 4.15% | 4.48% | 3.35% | 2.39% | 2.05% | 3.90% | 3.62% | 2.92% | 2.34% | 2.51% | 2.74% |
Frequently Asked Questions
With a correlation of 0.96, WATFX and TRLVX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
WATFX has higher volatility (1.24%) compared to TRLVX (1.16%). In terms of maximum drawdown, WATFX dropped -23.69% vs TRLVX's -20.98%.
WATFX currently has the higher Sharpe Ratio (1.11 vs 1.00), 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.
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