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Trending ETFs

Name

As of 03/26/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$8.07

$531 M

7.57%

$0.61

0.52%

Vitals

YTD Return

2.3%

1 yr return

10.1%

3 Yr Avg Return

4.1%

5 Yr Avg Return

3.9%

Net Assets

$531 M

Holdings in Top 10

13.9%

52 WEEK LOW AND HIGH

$8.1
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.52%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A


Min Investment

Standard (Taxable)

$100,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 03/26/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$8.07

$531 M

7.57%

$0.61

0.52%

ENIAX - Profile

Distributions

  • YTD Total Return 2.3%
  • 3 Yr Annualized Total Return 4.1%
  • 5 Yr Annualized Total Return 3.9%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.83%
DIVIDENDS
  • Dividend Yield 7.6%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    SIIT Opportunistic Income Fund
  • Fund Family Name
    SEI Funds
  • Inception Date
    Dec 14, 2006
  • Shares Outstanding
    84403901
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Timothy Smith

Fund Description

The Opportunistic Income Fund invests primarily in a diversified portfolio of investment grade and non-investment grade fixed-income securities (junk bonds), including: (i) securities issued or guaranteed by the U.S. Government and its agencies and instrumentalities and obligations of U.S. and foreign commercial banks, such as certificates of deposit, time deposits, bankers' acceptances and bank notes; (ii) obligations of foreign governments; (iii) U.S. and foreign corporate debt securities, including commercial paper, and

fully-collateralized repurchase agreements with counterparties deemed credit-worthy by the Fund's sub-advisers (each, a Sub-Adviser and collectively, the Sub-Advisers); and (iv) securitized issues, such as residential and commercial mortgage-backed securities, asset-backed securities, mortgage dollar rolls, when issued/delayed delivery securities and collateralized debt obligations. These securities may be fixed-, variable- or floating-rate obligations and will primarily be rated CCC- or higher at the time of purchase by at least one ratings agency, although the Fund may also invest in lower rated securities. There are no restrictions on the maturity of any individual securities or on the Fund's average portfolio maturity, although the average portfolio duration of the Fund will typically vary between zero and two years. 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.

The Fund uses a multi-manager approach under the general supervision of SEI Investments Management Corporation (SIMC or the Adviser), allocating the assets among multiple Sub-Advisers that use different investment strategies designed to produce a total return that exceeds the total return of the Secured Overnight Financing Rate (SOFR), which measures the cost of borrowing cash overnight collateralized by U.S. Treasury securities.

The Sub-Advisers may seek to enhance the Fund's return by actively managing the Fund's foreign currency exposure. Up to 10% of the Fund's assets may be invested in foreign currencies. In managing the Fund's currency exposure, the Sub-Advisers buy and sell currencies (i.e., take long or short positions) using derivatives, principally futures, foreign currency forward contracts, swaps and options. The Fund may take long and short positions in foreign currencies in excess of the value of the Fund's assets denominated in a particular currency or when the Fund does not own assets denominated in that currency. In managing the Fund's currency exposure for foreign securities, the Sub-Advisers may buy and sell currencies for hedging or for speculative purposes.

The Fund also invests a portion of its assets in bank loans, which are generally non-investment grade (junk bond) floating rate instruments. Up to 100% of the bank loans in which the Fund invests may be junk bonds. The Fund may invest in bank loans in the form of participations in the loans (participations) and assignments of all or a portion of the loans from third parties (assignments). The Fund may also invest in other financial instruments or use other investment techniques, such as reverse repurchase agreements, to seek to obtain market exposure to the securities in which the Fund primarily invests.

The Fund may also invest in futures contracts and swaps for speculative or hedging purposes. Futures and swaps are used to synthetically obtain exposure to securities or baskets of securities and to manage the Fund's interest rate duration and yield curve exposure. These derivatives are also used to mitigate the Fund's overall level of risk and/or the Fund's risk to particular types of securities or market segments. Interest rate swaps are further used to manage the Fund's yield spread sensitivity. When the Fund seeks to take an active long or short position with respect to the likelihood of an event of default of a security or basket of securities, the Fund may use credit default swaps. The Fund may buy credit default swaps in an attempt to manage credit risk where the Fund has credit exposure to an issuer, and the Fund may sell credit default swaps to more efficiently gain credit exposure to such security or basket of securities.

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ENIAX - Performance

Return Ranking - Trailing

Period ENIAX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.3% -0.5% 2.8% 1.38%
1 Yr 10.1% 0.0% 14.2% 1.39%
3 Yr 4.1%* -1.8% 5.7% 1.46%
5 Yr 3.9%* -0.8% 4.2% 1.60%
10 Yr 3.4%* -4.5% 27.5% 1.74%

* Annualized

Return Ranking - Calendar

Period ENIAX Return Category Return Low Category Return High Rank in Category (%)
2023 2.3% -2.3% 4.3% 14.75%
2022 -5.0% -6.5% 0.5% 94.76%
2021 0.0% -2.1% 0.3% 9.31%
2020 -0.6% -3.1% 1.8% 90.77%
2019 1.4% -1.2% 6.1% 7.07%

Total Return Ranking - Trailing

Period ENIAX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.3% -0.5% 2.8% 1.38%
1 Yr 10.1% 0.0% 14.2% 1.39%
3 Yr 4.1%* -1.8% 5.7% 1.46%
5 Yr 3.9%* -0.8% 4.2% 1.60%
10 Yr 3.4%* -4.5% 27.5% 1.74%

* Annualized

Total Return Ranking - Calendar

Period ENIAX Return Category Return Low Category Return High Rank in Category (%)
2023 9.8% 0.8% 12.1% 1.84%
2022 -1.2% -5.1% 2.5% 79.05%
2021 2.7% -2.1% 14.5% 1.47%
2020 2.6% -1.0% 3.6% 13.85%
2019 5.8% 0.3% 9.6% 1.63%

NAV & Total Return History


ENIAX - Holdings

Concentration Analysis

ENIAX Category Low Category High ENIAX % Rank
Net Assets 531 M 25.4 K 22.5 B 55.20%
Number of Holdings 932 2 1304 10.41%
Net Assets in Top 10 73.4 M 32.5 K 18.4 B 71.95%
Weighting of Top 10 13.93% 6.0% 168.1% 75.57%

Top 10 Holdings

  1. SEI DAILY INCOME TRUST GOVERNMENT FUND (#36) 9.51%
  2. TVA DISCOUNT NOTE ZERO COUPON 11/30/2015 0.66%
  3. TOWD POINT MORTGAGE TRUST 2019-HY2 TPMT 2019-HY2 M2 0.57%
  4. STAR 2021-SFR2 TRUST STAR 2021-SFR2 C 0.56%
  5. CONNECTICUT AVENUE SECURITIES TRUST 2023-R04 CAS 2023-R04 1M1 0.53%
  6. CONNECTICUT AVENUE SECURITIES TRUST 2023-R03 CAS 2023-R03 2M1 0.50%
  7. CONNECTICUT AVENUE SECURITIES TRUST 2023-R05 CAS 2023-R05 1M1 0.42%
  8. MISSOURI HIGHER EDUCATION LOAN AUTHORITY MHELA 2021-2 A1B 0.40%
  9. FREDDIE MAC STACR REMIC TRUST 2023-HQA1 STACR 2023-HQA1 M1B 0.39%
  10. FREDDIE MAC STACR REMIC TRUST 2023-DNA1 STACR 2023-DNA1 M1B 0.39%

Asset Allocation

Weighting Return Low Return High ENIAX % Rank
Bonds
91.80% 0.00% 122.45% 28.96%
Cash
9.55% 0.00% 109.89% 32.58%
Convertible Bonds
0.56% 0.00% 15.25% 73.64%
Stocks
0.00% 0.00% 97.29% 67.87%
Preferred Stocks
0.00% 0.00% 0.00% 64.71%
Other
-1.23% -29.59% 99.92% 98.19%

Bond Sector Breakdown

Weighting Return Low Return High ENIAX % Rank
Securitized
53.47% 0.00% 100.00% 15.91%
Corporate
38.40% 0.00% 99.91% 51.82%
Cash & Equivalents
9.55% 0.00% 109.89% 31.67%
Municipal
1.36% 0.00% 70.39% 15.91%
Government
0.20% 0.00% 100.00% 68.18%
Derivative
-1.46% -29.59% 30.99% 97.74%

Bond Geographic Breakdown

Weighting Return Low Return High ENIAX % Rank
US
91.80% 0.00% 122.45% 28.51%
Non US
0.00% 0.00% 22.24% 72.40%

ENIAX - Expenses

Operational Fees

ENIAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.52% 0.02% 28.11% 46.58%
Management Fee 0.45% 0.00% 1.19% 87.33%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.05% 0.01% 0.40% 14.58%

Sales Fees

ENIAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 1.50% 5.75% N/A
Deferred Load N/A 0.25% 1.00% N/A

Trading Fees

ENIAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.00% 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.

ENIAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 0.00% 369.54% 13.33%

ENIAX - Distributions

Dividend Yield Analysis

ENIAX Category Low Category High ENIAX % Rank
Dividend Yield 7.57% 0.00% 7.91% 1.36%

Dividend Distribution Analysis

ENIAX Category Low Category High Category Mod
Dividend Distribution Frequency Quarterly Monthly Monthly Monthly

Net Income Ratio Analysis

ENIAX Category Low Category High ENIAX % Rank
Net Income Ratio 2.83% -1.30% 14.86% 1.41%

Capital Gain Distribution Analysis

ENIAX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

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ENIAX - Fund Manager Analysis

Managers

Timothy Smith


Start Date

Tenure

Tenure Rank

Dec 14, 2006

15.47

15.5%

Timothy E. Smith Senior Managing Director, Partner, and Fixed Income Portfolio Manager of Wellington Management, has served as portfolio manager of the Fund since 2013. Mr. Smith joined Wellington Management as an investment professional in 1992. Tim is a fixed income portfolio manager specializing in short-duration investing, including money market, enhanced cash, LIBOR, and short-term bond portfolios. He is chair of the firm’s Short Duration Strategy Group and is a member of the Error Resolution Council and the Financial Reserves Management Team.

Seth Brufsky


Start Date

Tenure

Tenure Rank

Jun 05, 2009

12.99

13.0%

Mr. Brufsky is a Partner in the Ares Credit Group, Co-Head and Portfolio Manager of Global Liquid Credit and a member of the Management Committee of Ares Management. Mr. Brufsky also serves as a Director, President, Chief Executive Officer and Portfolio Manager of the Ares Dynamic Credit Allocation Fund, Inc. (NYSE: ARDC). Additionally, he serves as a member of the Ares Credit Group’s U.S. Liquid Credit Investment Committee and the Ares Dynamic Credit Allocation Fund Investment Committee.

Peter Farley


Start Date

Tenure

Tenure Rank

Sep 30, 2013

8.67

8.7%

Peter M. Farley, CFA. Mr. Farley joined Manulife Asset Management in 2012. Previously,Mr. Farley joined Declaration in 1996. Senior Managing Director and Senior Portfolio Manager Managed fund since 2005

Richard Bamford


Start Date

Tenure

Tenure Rank

Dec 31, 2014

7.42

7.4%

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.

David Bees


Start Date

Tenure

Tenure Rank

Dec 31, 2016

5.42

5.4%

David Bees, CFA, Managing Director, Associate Portfolio Manager, joined Manulife Asset Management (US) LLC(formerly known as Declaration Management & Research LLC) in 2001 and has 18 years of fixed income experience in mortgage and asset-backed securities markets. Mr. Bees is an Associate Portfolio Manager focused on dedicated securitized strategies, specifically covering the asset backed securities and residential mortgage backed securities market. From 2008-2016, he provided research and analysis for non-agency residential mortgage backed and asset backed securities. Prior to that, Mr. Bees was responsible for all mortgage securities trading at the company.

Jason Duko


Start Date

Tenure

Tenure Rank

Dec 31, 2018

3.42

3.4%

Mr. Duko is a Partner and Portfolio Manager of U.S. Liquid Credit in the Ares Credit Group, where he is primarily responsible for managing Ares’ U.S. bank loan credit strategies. Mr. Duko also serves as a Vice President of Ares Dynamic Credit Allocation Fund, Inc. Additionally, he serves as a member of the Ares Credit Group’s U.S. Liquid Credit Investment Committee.

Samantha Milner


Start Date

Tenure

Tenure Rank

Dec 31, 2018

3.42

3.4%

Ms. Milner is a Partner, Portfolio Manager and Head of U.S. Liquid Credit Research in the Ares Credit Group, where she is primarily responsible for managing Ares’ U.S. bank loan credit strategies. Ms. Milner serves as a Vice President and Portfolio Manager for the Ares Dynamic Credit Allocation Fund, Inc. (NYSE: ARDC). Additionally, she serves as a member of the Ares Credit Group’s U.S. Liquid Credit Investment Committee, and the Ares Dynamic Credit Allocation Fund Investment Committee.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 32.44 6.56 7.92