STET SHORT DURATION MUNICIPAL FUND
Name
As of 04/30/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
0.4%
1 yr return
2.8%
3 Yr Avg Return
0.8%
5 Yr Avg Return
1.2%
Net Assets
$882 M
Holdings in Top 10
13.5%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 0.56%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 30.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$100,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 04/30/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
SHYMX - Profile
Distributions
- YTD Total Return 0.4%
- 3 Yr Annualized Total Return 0.8%
- 5 Yr Annualized Total Return 1.2%
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 1.02%
- Dividend Yield 2.7%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameSTET SHORT DURATION MUNICIPAL FUND
-
Fund Family NameSEI Funds
-
Inception DateNov 13, 2003
-
Shares Outstanding6794193
-
Share ClassY
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerRichard Bamford
Fund Description
The Short Duration Municipal Fund will invest, under normal circumstances, at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in investment grade municipal securities that pay interest that is exempt from federal income tax, including, but not limited to, municipal bonds, notes, variable rate demand notes and commercial paper. The principal issuers of these securities are state and local governments and their agencies located in any of the fifty states, the District of Columbia, Puerto Rico and other U.S. territories and possessions.
The Fund uses one or more sub-advisers (each, a Sub-Adviser and collectively, the Sub-Advisers) to manage the Fund's portfolio under the general supervision of SEI Investments Management Corporation, the Fund's adviser (SIMC or the Adviser). The Sub-Advisers select securities based on their views on the future direction of interest rates and the shape of the yield curve, as well as their views on credit quality and sector allocation issues. Where possible, the Sub-Advisers will attempt to acquire securities that are underpriced relative to other eligible securities. The Sub-Advisers will strive to maintain a portfolio duration of three years or less. Duration is a measure of the expected life of a fixed income security that is used to determine the sensitivity of a security's price to changes in interest rates. For example, if a fixed income security has a three-year duration, it will decrease in value by approximately 3% if interest rates rise 1% and increase in value by approximately 3% if interest rates fall 1%. The Fund may, to a limited extent, invest in securities subject to the alternative minimum tax or in debt securities subject to federal income tax.
SHYMX - Performance
Return Ranking - Trailing
Period | SHYMX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 0.4% | -5.1% | 9.2% | 4.80% |
1 Yr | 2.8% | -5.0% | 27.9% | 26.36% |
3 Yr | 0.8%* | -11.4% | 2.7% | 3.38% |
5 Yr | 1.2%* | -6.3% | 1101.7% | 15.23% |
10 Yr | N/A* | -0.5% | 248.1% | 94.98% |
* Annualized
Return Ranking - Calendar
Period | SHYMX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 1.3% | -1.4% | 41.0% | 90.96% |
2022 | -2.8% | -39.7% | 0.3% | 2.97% |
2021 | -0.6% | -5.6% | 6.9% | 52.79% |
2020 | 0.7% | -2.6% | 310.0% | 88.46% |
2019 | 0.8% | 0.0% | 26.0% | 97.35% |
Total Return Ranking - Trailing
Period | SHYMX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 0.4% | -5.1% | 9.2% | 4.80% |
1 Yr | 2.8% | -5.0% | 27.9% | 26.36% |
3 Yr | 0.8%* | -11.4% | 2.7% | 3.38% |
5 Yr | 1.2%* | -6.3% | 1101.7% | 15.23% |
10 Yr | N/A* | -0.5% | 248.1% | 94.23% |
* Annualized
Total Return Ranking - Calendar
Period | SHYMX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 3.9% | -1.3% | 41.0% | 86.08% |
2022 | -1.5% | -39.7% | 1.1% | 2.90% |
2021 | 0.4% | -4.8% | 23761504.0% | 78.88% |
2020 | 2.2% | -1.5% | 17057.9% | 88.59% |
2019 | 2.6% | 0.2% | 3514.6% | 96.03% |
NAV & Total Return History
SHYMX - Holdings
Concentration Analysis
SHYMX | Category Low | Category High | SHYMX % Rank | |
---|---|---|---|---|
Net Assets | 882 M | 3.22 M | 71.9 B | 31.41% |
Number of Holdings | 482 | 2 | 13067 | 25.44% |
Net Assets in Top 10 | 119 M | -317 M | 3.56 B | 36.96% |
Weighting of Top 10 | 13.54% | 2.0% | 100.2% | 69.95% |
Top 10 Holdings
- MAIN STREET NATURAL GAS INC GA MAIN STREET NATURAL GAS INC 2.07%
- S E ALABAMA ST GAS SPLY DIST G SOUTHEAST ALABAMA GAS SUPPLY DISTRICT/THE 1.93%
- INDIANA ST FIN AUTH ENVRNMNTL INDIANA FINANCE AUTHORITY 1.61%
- ARLINGTON TX HSG FIN CORP MF H ARLINGTON HOUSING FINANCE CORP 1.25%
- ROCKPORT IN POLL CONTROL REVEN CITY OF ROCKPORT IN 1.17%
- LOWER AL GAS DIST GAS PROJ REV LOWER ALABAMA GAS DISTRICT/THE 1.14%
- WEST VIRGINIA ST ECON DEV AUTH WEST VIRGINIA ECONOMIC DEVELOPMENT AUTHORITY 1.13%
- HOUSTON TX INDEP SCH DIST HOUSTON INDEPENDENT SCHOOL DISTRICT 1.09%
- MISSOURI ST ENVRNMNTL IMPT E MISSOURI STATE ENVIRONMENTAL IMPROVEMENT ENERGY 1.08%
- CONNECTICUT ST HSG FIN AUTH HS CONNECTICUT HOUSING FINANCE AUTHORITY 1.07%
Asset Allocation
Weighting | Return Low | Return High | SHYMX % Rank | |
---|---|---|---|---|
Bonds | 100.34% | 0.00% | 150.86% | 11.64% |
Stocks | 0.00% | 0.00% | 99.81% | 91.33% |
Preferred Stocks | 0.00% | 0.00% | 0.52% | 94.24% |
Other | 0.00% | -3.18% | 33.35% | 90.23% |
Convertible Bonds | 0.00% | 0.00% | 0.93% | 94.22% |
Cash | 0.00% | -50.86% | 46.80% | 96.76% |
Bond Sector Breakdown
Weighting | Return Low | Return High | SHYMX % Rank | |
---|---|---|---|---|
Municipal | 96.03% | 44.39% | 100.00% | 74.20% |
Derivative | 0.00% | -3.18% | 23.38% | 88.48% |
Cash & Equivalents | 0.00% | 0.00% | 46.24% | 96.96% |
Securitized | 0.00% | 0.00% | 5.93% | 93.63% |
Corporate | 0.00% | 0.00% | 9.41% | 94.02% |
Government | 0.00% | 0.00% | 52.02% | 94.22% |
Bond Geographic Breakdown
Weighting | Return Low | Return High | SHYMX % Rank | |
---|---|---|---|---|
US | 100.34% | 0.00% | 142.23% | 10.68% |
Non US | 0.00% | 0.00% | 23.89% | 94.95% |
SHYMX - Expenses
Operational Fees
SHYMX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.56% | 0.01% | 20.65% | 74.72% |
Management Fee | 0.33% | 0.00% | 1.20% | 21.41% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | 0.20% | 0.01% | 0.44% | 90.67% |
Sales Fees
SHYMX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 0.50% | 4.75% | N/A |
Deferred Load | N/A | 0.25% | 5.00% | N/A |
Trading Fees
SHYMX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 1.00% | 1.00% | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
SHYMX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 30.00% | 0.00% | 283.00% | 79.66% |
SHYMX - Distributions
Dividend Yield Analysis
SHYMX | Category Low | Category High | SHYMX % Rank | |
---|---|---|---|---|
Dividend Yield | 2.67% | 0.00% | 14.28% | 67.79% |
Dividend Distribution Analysis
SHYMX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly | Monthly | Monthly | Monthly |
Net Income Ratio Analysis
SHYMX | Category Low | Category High | SHYMX % Rank | |
---|---|---|---|---|
Net Income Ratio | 1.02% | -0.53% | 5.33% | 86.25% |
Capital Gain Distribution Analysis
SHYMX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Semi-Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Apr 01, 2024 | $0.022 | DailyAccrualFund |
Mar 01, 2024 | $0.022 | DailyAccrualFund |
Feb 01, 2024 | $0.021 | DailyAccrualFund |
Jan 02, 2024 | $0.023 | DailyAccrualFund |
Dec 01, 2023 | $0.022 | DailyAccrualFund |
Nov 01, 2023 | $0.022 | DailyAccrualFund |
Oct 02, 2023 | $0.021 | DailyAccrualFund |
Sep 01, 2023 | $0.021 | DailyAccrualFund |
Aug 01, 2023 | $0.019 | DailyAccrualFund |
Jul 03, 2023 | $0.020 | DailyAccrualFund |
Jun 01, 2023 | $0.019 | DailyAccrualFund |
May 01, 2023 | $0.018 | DailyAccrualFund |
Apr 03, 2023 | $0.017 | DailyAccrualFund |
Mar 01, 2023 | $0.015 | DailyAccrualFund |
Feb 01, 2023 | $0.018 | DailyAccrualFund |
Jan 03, 2023 | $0.012 | DailyAccrualFund |
Dec 01, 2022 | $0.015 | DailyAccrualFund |
Nov 01, 2022 | $0.015 | DailyAccrualFund |
Oct 03, 2022 | $0.013 | DailyAccrualFund |
Sep 01, 2022 | $0.012 | DailyAccrualFund |
Aug 01, 2022 | $0.010 | DailyAccrualFund |
Jul 01, 2022 | $0.008 | DailyAccrualFund |
Jun 01, 2022 | $0.008 | DailyAccrualFund |
May 02, 2022 | $0.008 | DailyAccrualFund |
Apr 01, 2022 | $0.007 | DailyAccrualFund |
Mar 01, 2022 | $0.006 | DailyAccrualFund |
Feb 01, 2022 | $0.005 | DailyAccrualFund |
Jan 03, 2022 | $0.007 | DailyAccrualFund |
Dec 01, 2021 | $0.006 | DailyAccrualFund |
Nov 01, 2021 | $0.005 | DailyAccrualFund |
Oct 01, 2021 | $0.006 | DailyAccrualFund |
Sep 01, 2021 | $0.007 | DailyAccrualFund |
Aug 02, 2021 | $0.007 | DailyAccrualFund |
Jul 01, 2021 | $0.007 | DailyAccrualFund |
Jun 01, 2021 | $0.008 | DailyAccrualFund |
May 03, 2021 | $0.009 | DailyAccrualFund |
Apr 01, 2021 | $0.009 | DailyAccrualFund |
Mar 01, 2021 | $0.008 | DailyAccrualFund |
Feb 01, 2021 | $0.008 | DailyAccrualFund |
Dec 31, 2020 | $0.008 | DailyAccrualFund |
Nov 30, 2020 | $0.011 | DailyAccrualFund |
Oct 30, 2020 | $0.010 | DailyAccrualFund |
Sep 30, 2020 | $0.010 | DailyAccrualFund |
Aug 31, 2020 | $0.010 | DailyAccrualFund |
Jul 31, 2020 | $0.011 | DailyAccrualFund |
Jun 30, 2020 | $0.010 | DailyAccrualFund |
Jun 01, 2020 | $0.011 | DailyAccrualFund |
May 01, 2020 | $0.013 | DailyAccrualFund |
Apr 01, 2020 | $0.014 | DailyAccrualFund |
Mar 02, 2020 | $0.012 | DailyAccrualFund |
Feb 03, 2020 | $0.012 | DailyAccrualFund |
Jan 02, 2020 | $0.013 | DailyAccrualFund |
Dec 02, 2019 | $0.012 | DailyAccrualFund |
Nov 01, 2019 | $0.013 | DailyAccrualFund |
Oct 01, 2019 | $0.013 | DailyAccrualFund |
Sep 03, 2019 | $0.014 | DailyAccrualFund |
Aug 01, 2019 | $0.013 | DailyAccrualFund |
Jul 01, 2019 | $0.014 | OrdinaryDividend |
Jun 03, 2019 | $0.014 | DailyAccrualFund |
May 01, 2019 | $0.014 | DailyAccrualFund |
Apr 01, 2019 | $0.014 | DailyAccrualFund |
Mar 01, 2019 | $0.013 | DailyAccrualFund |
Feb 01, 2019 | $0.014 | DailyAccrualFund |
Jan 02, 2019 | $0.013 | DailyAccrualFund |
Dec 03, 2018 | $0.012 | DailyAccrualFund |
Nov 01, 2018 | $0.013 | DailyAccrualFund |
Oct 01, 2018 | $0.012 | DailyAccrualFund |
Sep 04, 2018 | $0.012 | DailyAccrualFund |
Aug 01, 2018 | $0.011 | DailyAccrualFund |
Jul 02, 2018 | $0.011 | DailyAccrualFund |
Jun 01, 2018 | $0.011 | DailyAccrualFund |
May 01, 2018 | $0.011 | DailyAccrualFund |
Apr 02, 2018 | $0.010 | DailyAccrualFund |
Mar 01, 2018 | $0.009 | DailyAccrualFund |
Feb 01, 2018 | $0.009 | DailyAccrualFund |
Jan 02, 2018 | $0.009 | DailyAccrualFund |
Dec 01, 2017 | $0.009 | DailyAccrualFund |
Oct 02, 2017 | $0.008 | DailyAccrualFund |
Sep 01, 2017 | $0.009 | DailyAccrualFund |
Aug 01, 2017 | $0.008 | DailyAccrualFund |
Jul 03, 2017 | $0.008 | DailyAccrualFund |
Jun 01, 2017 | $0.007 | DailyAccrualFund |
May 01, 2017 | $0.007 | DailyAccrualFund |
Apr 03, 2017 | $0.007 | DailyAccrualFund |
Mar 01, 2017 | $0.007 | DailyAccrualFund |
Feb 01, 2017 | $0.007 | DailyAccrualFund |
Jan 03, 2017 | $0.006 | DailyAccrualFund |
Dec 01, 2016 | $0.006 | DailyAccrualFund |
Sep 01, 2016 | $0.006 | DailyAccrualFund |
Jul 01, 2016 | $0.006 | DailyAccrualFund |
Jun 01, 2016 | $0.006 | DailyAccrualFund |
May 02, 2016 | $0.006 | DailyAccrualFund |
Apr 01, 2016 | $0.005 | DailyAccrualFund |
Mar 01, 2016 | $0.005 | DailyAccrualFund |
Feb 01, 2016 | $0.006 | DailyAccrualFund |
Jan 04, 2016 | $0.005 | DailyAccrualFund |
Dec 01, 2015 | $0.018 | DailyAccrualFund |
Nov 02, 2015 | $0.005 | DailyAccrualFund |
Oct 01, 2015 | $0.005 | DailyAccrualFund |
Sep 01, 2015 | $0.003 | DailyAccrualFund |
Aug 03, 2015 | $0.002 | DailyAccrualFund |
Jul 01, 2015 | $0.035 | DailyAccrualFund |
Jun 01, 2015 | $0.003 | DailyAccrualFund |
SHYMX - Fund Manager Analysis
Managers
Richard Bamford
Start Date
Tenure
Tenure Rank
Dec 31, 2003
18.43
18.4%
Richard A. Bamford serves as a Portfolio Manager for the Fixed Income Team within SIMC's Investment Management Unit. Mr. Bamford is responsible for investment grade debt and municipal bond portfolios. Mr. Bamford's duties include manager analysis and selection, strategy development and enhancement as well as investment research. Mr. Bamford has over 20 years of investment experience in investment management. Prior to joining SEI in 1999, Mr. Bamford worked as a Municipal Credit Analyst for Vanguard. Mr. Bamford received a Bachelor of Science in Economics/Finance and Accounting from the University of Scranton and an M.B.A. with a concentration in Finance from St. Joseph's University.
Kristian Lind
Start Date
Tenure
Tenure Rank
Oct 07, 2011
10.65
10.7%
Kristian J. Lind, Managing Director, joined the firm in 2005. Kristian is a Portfolio Manager for the Municipal Fixed Income team. Prior to this, he worked for Weiss, Peck & Greer as an assistant portfolio manager working in the Municipal Fixed Income group, where he worked since 2003. Prior to Weiss, Peck & Greer, he began his career as an operations analyst at Barclays Capital in their Operations Control group. Kristian holds a BS in Finance from Purdue University.
Bruce Johns
Start Date
Tenure
Tenure Rank
Dec 31, 2011
10.42
10.4%
Bruce Johns is a senior portfolio manager for the Municipal Fixed Income team at Allspring Global Investments. In this capacity, he manages national short to intermediate maturity strategies and certain state-specific mutual funds. Bruce joined Allspring from its predecessor firm, Wells Fargo Asset Management (WFAM). He joined WFAM from Strong Capital Management, where he was a senior research analyst covering the health care sector. Prior to taking on the role of research analyst at Strong, his area of responsibility included all fixed income settlements operations. He earned a bachelor’s degree in business and finance from the University of Wisconsin, Parkside. Bruce is a member of the National Federation of Municipal Analysts and the Minnesota Society of Municipal Analysts.
Peter Moukios
Start Date
Tenure
Tenure Rank
Dec 31, 2016
5.42
5.4%
Peter Moukios, Senior Vice President, joined the firm in 2008. Pete is a Portfolio Manager for the Municipal Fixed Income team. Additionally, he co-manages the sub-advised SEI Short Duration Bond Fund. Prior to this, he was a portfolio manager in Municipal Securities at Weiss, Peck & Greer, where he worked since 1987. Previously he worked at Manufacturers Hanover Trust where he was the supervisor of broker custody. Pete is a member of the Municipal Analysts Group of New York and a member of the National Federation of Municipal Analysts. He holds a BS degree in management from St. John's University and a MBA from Fordham University.
Robert Amodeo
Start Date
Tenure
Tenure Rank
Apr 27, 2017
5.1
5.1%
– Western Asset Management Company, LLC – Head of Municipals, 2005- – Salomon Brothers Asset Management – Analyst to Managing Director, Portfolio Manager, 1992-2005 – Salomon Brothers Inc. – Accountant to Analyst, 1988-1992 – The Bank of New York – Accountant, 1987-1988 – Columbia University, M.P.A., Advanced Management and Finance – Long Island University, B.S. – Chartered Financial Analyst
S. Leech
Start Date
Tenure
Tenure Rank
Apr 27, 2017
5.1
5.1%
– Western Asset Management Company, LLC – Chief Investment Officer, 1990– – Greenwich Capital Markets – Portfolio Manager, 1988–1990 – The First Boston Corporation – Fixed Income Manager, 1980–1988 – National Bank of Detroit – Portfolio Manager, 1977–1980 – The Wharton School, University of Pennsylvania, M.B.A., B.S., B.A., summa cum laude, 1972–1976
John Mooney
Start Date
Tenure
Tenure Rank
Apr 27, 2017
5.1
5.1%
John C. Mooney is a Portfolio Manager at Western Asset. He has been with Western Asset since 2005.
James Randazzo
Start Date
Tenure
Tenure Rank
Dec 31, 2019
2.42
2.4%
James (Jim) Randazzo is a senior portfolio manager for the Global Liquidity Solutions and Municipal Fixed Income teams at Allspring Global Investments. He joined Allspring from its predecessor firm, Wells Fargo Asset Management (WFAM). Prior to WFAM, Jim was with Evergreen or one of its predecessor firms since 2000. Earlier, he served as a financial analyst at KPMG, as a financial advisor for Prudential Securities, and as a trader for HSBC. He began his investment industry career in 1993 at Greenwich Partners, Inc. Jim earned a bachelor’s degree in finance from Iona College and a master’s degree in business administration with an emphasis in finance from the University of Connecticut.
Nicholos Venditti
Start Date
Tenure
Tenure Rank
Dec 31, 2020
1.41
1.4%
Nicholos Venditti is a senior portfolio manager for the Municipal Fixed Income team at Allspring Global Investments. He joined Allspring from its predecessor firm, Wells Fargo Asset Management (WFAM). Before joining WFAM, he was with Thornburg Investment Management as a portfolio manager and head of the municipal bond group. Earlier positions there include serving as a portfolio manager on seven mutual funds and separately managed accounts with total assets of approximately $10 billion. Prior to Thornburg, Nicholos held a variety of roles focused on municipal credit analysis at Financial Security Assurance/Assured Guaranty, where he began his investment industry career in 2007. He earned a bachelor’s degree in theoretical economics from Trinity University; a master’s degree in applied economics from the University of North Carolina, Greensboro, where he also served as an adjunct professor; and a master’s degree in finance from Syracuse University. He has earned the right to use the Chartered Financial Analyst® (CFA) designation.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.08 | 35.05 | 7.37 | 1.58 |