SEI Short Duration Municipal F (STET)
- SUMAX
- Price as of: Mar 01, 2021
-
$10.12
N/A N/A
- Primary Theme
- Municipal Bond
- Fund Company
- SEI
- Share Class
SUMAX - Snapshot
Vitals
- YTD Return -0.1%
- 3 Yr Annualized Return 1.7%
- 5 Yr Annualized Return 1.1%
- Net Assets $1.26 B
- Holdings in Top 10 13.8%
52 WEEK LOW AND HIGH
Expenses
OPERATING RELATED FEES
- Expense Ratio 0.81%
SALES FEES
- Front Load N/A
- Deferred Load N/A
BROKERAGE FEES
- Turnover 53.00%
TRADING FEES
- Max Redemption Fee N/A
Min Investment
- Standard (Taxable) $100,000
- IRA N/A
Fund Classification
-
Primary Theme
Municipal Bond
- Fund Type Open End Mutual Fund
- Investment Style Muni National Short
SUMAX - Profile
Distributions
- YTD Total Return -0.1%
- 3 Yr Annualized Total Return 1.7%
- 5 Yr Annualized Total Return 1.1%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 1.33%
- Dividend Yield 0.0%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameSEI Tax Exempt Trust Short Duration Municipal Fund
-
Fund Family NameSEI
-
Inception DateNov 13, 2003
-
Shares Outstanding118113721
-
Share ClassInst
-
CurrencyUSD
-
Domiciled CountryUnited States
-
ManagerRichard Bamford
Fund Description
The 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.
SUMAX - Performance
Return Ranking - Trailing
Period | SUMAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | -0.1% | -3.3% | 1.4% | 7.06% |
1 Yr | 1.6% | -1.0% | 9.5% | 91.72% |
3 Yr | 1.7%* | 0.0% | 10.2% | 96.82% |
5 Yr | 1.1%* | -0.4% | 8.0% | 97.30% |
10 Yr | 0.9%* | -0.1% | 10.8% | 98.70% |
* Annualized
Return Ranking - Calendar
Period | SUMAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2020 | 0.7% | -2.8% | 310.0% | 87.77% |
2019 | 0.8% | -0.3% | 15.4% | 96.83% |
2018 | 0.0% | -10.3% | 97.2% | 4.54% |
2017 | 0.2% | -100.0% | 7.6% | 86.25% |
2016 | -0.7% | -7.9% | 96.8% | 2.69% |
Total Return Ranking - Trailing
Period | SUMAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | -0.1% | -3.3% | 1.4% | 7.06% |
1 Yr | 1.6% | -5.1% | 9.5% | 62.47% |
3 Yr | 1.7%* | -2.0% | 10.2% | 95.70% |
5 Yr | 1.1%* | -1.6% | 8.0% | 96.28% |
10 Yr | 0.9%* | -0.1% | 10.8% | 98.51% |
* Annualized
Total Return Ranking - Calendar
Period | SUMAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2020 | 0.7% | -2.8% | 310.0% | 87.77% |
2019 | 0.8% | -0.3% | 15.4% | 96.83% |
2018 | 0.0% | -10.3% | 11.0% | 8.57% |
2017 | 0.2% | -100.0% | 7.6% | 87.44% |
2016 | -0.7% | -7.9% | 3.0% | 6.18% |
NAV & Total Return History
SUMAX - Holdings
Concentration Analysis
SUMAX | Category Low | Category High | SUMAX % Rank | |
---|---|---|---|---|
Net Assets | 1.26 B | 100 | 83.2 B | 25.46% |
Number of Holdings | 538 | 3 | 11152 | 21.33% |
Net Assets in Top 10 | 174 M | -192 M | 4.18 B | 26.11% |
Weighting of Top 10 | 13.77% | 2.5% | 100.0% | 67.33% |
Top 10 Holdings
- METROPOLITAN TRANSN AUTH N Y REV 5% 2.44%
- BURKE CNTY GA DEV AUTH POLLUTN CTL REV 2.5% 1.51%
- SOUTHEAST ALA GAS SUPPLY DIST GAS SUPPLY REV 0.95% 1.38%
- NEW JERSEY ECONOMIC DEV AUTH REV 5% 1.36%
- ILLINOIS ST 5% 1.33%
- NORTH CAROLINA TPK AUTH TRIANGLE EXPWY SYS REV 5% 1.26%
- DEUTSCHE BK SPEARS/LIFERS SER DBE-7001 TR 0.62% 1.18%
- WESLACO TEX HSG OPPORTUNITIES CORP MULTIFAMILY HSG REV 1.42% 1.18%
- VALDOSTA GA HSG AUTH MULTIFAMILY REV 2.25% 1.15%
- PENNSYLVANIA ST HIGHER EDL FACS AUTH REV 5% 1.07%
Asset Allocation
Weighting | Return Low | Return High | SUMAX % Rank | |
---|---|---|---|---|
Bonds | 96.07% | 66.96% | 147.73% | 75.72% |
Cash | 3.93% | -47.72% | 33.04% | 24.00% |
Stocks | 0.00% | 0.00% | 2.07% | 35.93% |
Preferred Stocks | 0.00% | -0.95% | 1.06% | 32.94% |
Other | 0.00% | -13.58% | 13.72% | 35.78% |
Convertible Bonds | 0.00% | -0.42% | 1.32% | 33.05% |
Bond Sector Breakdown
Weighting | Return Low | Return High | SUMAX % Rank | |
---|---|---|---|---|
Municipal | 96.07% | 46.63% | 100.00% | 73.15% |
Cash & Equivalents | 3.93% | 0.00% | 33.04% | 24.86% |
Derivative | 0.00% | 0.00% | 0.85% | 32.88% |
Securitized | 0.00% | 0.00% | 6.51% | 34.47% |
Corporate | 0.00% | 0.00% | 15.75% | 43.34% |
Government | 0.00% | 0.00% | 50.01% | 38.45% |
Bond Geographic Breakdown
Weighting | Return Low | Return High | SUMAX % Rank | |
---|---|---|---|---|
US | 96.07% | 66.25% | 141.36% | 55.80% |
Non US | 0.00% | 0.00% | 26.53% | 83.90% |
SUMAX - Expenses
Operational Fees
SUMAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.81% | 0.01% | 16.95% | 44.71% |
Management Fee | 0.33% | 0.00% | 1.10% | 18.90% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | 0.20% | 0.01% | 0.47% | 87.31% |
Sales Fees
SUMAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 0.50% | 5.75% | N/A |
Deferred Load | N/A | 0.25% | 5.50% | N/A |
Trading Fees
SUMAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 1.00% | 2.00% | 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.
SUMAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 53.00% | 0.00% | 299.40% | 86.69% |
SUMAX - Distributions
Dividend Yield Analysis
SUMAX | Category Low | Category High | SUMAX % Rank | |
---|---|---|---|---|
Dividend Yield | 0.00% | 0.00% | 1.71% | 37.04% |
Dividend Distribution Analysis
SUMAX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly | Monthly | Monthly | Monthly |
Net Income Ratio Analysis
SUMAX | Category Low | Category High | SUMAX % Rank | |
---|---|---|---|---|
Net Income Ratio | 1.33% | -1.65% | 6.48% | 91.12% |
Capital Gain Distribution Analysis
SUMAX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Dividend Payout History
Date | Amount |
---|---|
Feb 01, 2019 | $0.012 |
Jan 02, 2019 | $0.011 |
Dec 03, 2018 | $0.010 |
Nov 01, 2018 | $0.010 |
Oct 01, 2018 | $0.010 |
Sep 04, 2018 | $0.010 |
Aug 01, 2018 | $0.009 |
Jul 02, 2018 | $0.009 |
Jun 01, 2018 | $0.008 |
May 01, 2018 | $0.009 |
Apr 02, 2018 | $0.008 |
Mar 01, 2018 | $0.007 |
Feb 01, 2018 | $0.007 |
Jan 02, 2018 | $0.007 |
Dec 01, 2017 | $0.006 |
Oct 02, 2017 | $0.006 |
Sep 01, 2017 | $0.006 |
Aug 01, 2017 | $0.006 |
Jul 03, 2017 | $0.005 |
Jun 01, 2017 | $0.005 |
May 01, 2017 | $0.005 |
Apr 03, 2017 | $0.005 |
Mar 01, 2017 | $0.005 |
Feb 01, 2017 | $0.005 |
Jan 03, 2017 | $0.004 |
Dec 01, 2016 | $0.004 |
Aug 01, 2016 | $0.003 |
Jul 01, 2016 | $0.004 |
Jun 01, 2016 | $0.004 |
May 02, 2016 | $0.004 |
Apr 01, 2016 | $0.003 |
Feb 01, 2016 | $0.003 |
Jan 04, 2016 | $0.003 |
Dec 01, 2015 | $0.019 |
Nov 02, 2015 | $0.003 |
Oct 01, 2015 | $0.003 |
Sep 01, 2015 | $0.003 |
Aug 03, 2015 | $0.002 |
Jul 01, 2015 | $0.038 |
Jun 01, 2015 | $0.002 |
May 01, 2015 | $0.002 |
Apr 01, 2015 | $0.002 |
Mar 02, 2015 | $0.002 |
Feb 02, 2015 | $0.002 |
Jan 02, 2015 | $0.002 |
Dec 01, 2014 | $0.002 |
Nov 03, 2014 | $0.002 |
Oct 01, 2014 | $0.003 |
Sep 02, 2014 | $0.003 |
Aug 01, 2014 | $0.003 |
Jul 01, 2014 | $0.004 |
Jun 02, 2014 | $0.005 |
May 01, 2014 | $0.005 |
Apr 01, 2014 | $0.005 |
Mar 03, 2014 | $0.005 |
Feb 03, 2014 | $0.006 |
Jan 02, 2014 | $0.006 |
Dec 02, 2013 | $0.005 |
Nov 01, 2013 | $0.005 |
Oct 01, 2013 | $0.005 |
Sep 03, 2013 | $0.004 |
Aug 01, 2013 | $0.004 |
Jul 01, 2013 | $0.004 |
Jun 03, 2013 | $0.005 |
May 01, 2013 | $0.006 |
Apr 01, 2013 | $0.005 |
Mar 01, 2013 | $0.006 |
Feb 01, 2013 | $0.007 |
Jan 02, 2013 | $0.007 |
Dec 03, 2012 | $0.007 |
Nov 01, 2012 | $0.007 |
Oct 01, 2012 | $0.007 |
Sep 04, 2012 | $0.008 |
Aug 01, 2012 | $0.008 |
Jul 02, 2012 | $0.009 |
Jun 01, 2012 | $0.010 |
May 01, 2012 | $0.010 |
Apr 02, 2012 | $0.009 |
Mar 01, 2012 | $0.008 |
Feb 01, 2012 | $0.009 |
Jan 03, 2012 | $0.010 |
Dec 01, 2011 | $0.010 |
Nov 01, 2011 | $0.011 |
Oct 03, 2011 | $0.010 |
Sep 01, 2011 | $0.009 |
Aug 01, 2011 | $0.011 |
Jul 01, 2011 | $0.012 |
Jun 01, 2011 | $0.012 |
May 02, 2011 | $0.012 |
Apr 01, 2011 | $0.012 |
Mar 01, 2011 | $0.011 |
Feb 01, 2011 | $0.011 |
Jan 03, 2011 | $0.012 |
Dec 01, 2010 | $0.010 |
Nov 01, 2010 | $0.012 |
Oct 01, 2010 | $0.012 |
Sep 01, 2010 | $0.013 |
Aug 02, 2010 | $0.014 |
Jul 01, 2010 | $0.014 |
Jun 01, 2010 | $0.015 |
May 03, 2010 | $0.014 |
Apr 01, 2010 | $0.015 |
Mar 01, 2010 | $0.014 |
Feb 01, 2010 | $0.016 |
Jan 04, 2010 | $0.016 |
Dec 01, 2009 | $0.014 |
Nov 02, 2009 | $0.016 |
Oct 01, 2009 | $0.019 |
Sep 01, 2009 | $0.021 |
Aug 03, 2009 | $0.022 |
Jul 01, 2009 | $0.021 |
Jun 01, 2009 | $0.022 |
May 01, 2009 | $0.023 |
Apr 01, 2009 | $0.023 |
Mar 02, 2009 | $0.021 |
Feb 02, 2009 | $0.023 |
Jan 02, 2009 | $0.023 |
Dec 01, 2008 | $0.023 |
Nov 03, 2008 | $0.024 |
Oct 01, 2008 | $0.022 |
Sep 02, 2008 | $0.026 |
Aug 01, 2008 | $0.025 |
Jul 01, 2008 | $0.024 |
Jun 02, 2008 | $0.022 |
May 01, 2008 | $0.021 |
Apr 01, 2008 | $0.023 |
Mar 03, 2008 | $0.023 |
Feb 01, 2008 | $0.025 |
Jan 02, 2008 | $0.027 |
Dec 03, 2007 | $0.028 |
Nov 01, 2007 | $0.028 |
Oct 01, 2007 | $0.027 |
Sep 04, 2007 | $0.028 |
Aug 01, 2007 | $0.027 |
Jul 02, 2007 | $0.026 |
Jun 01, 2007 | $0.027 |
May 01, 2007 | $0.025 |
Apr 02, 2007 | $0.026 |
Mar 01, 2007 | $0.023 |
Feb 01, 2007 | $0.026 |
Jan 02, 2007 | $0.025 |
Nov 01, 2006 | $0.025 |
Oct 02, 2006 | $0.024 |
Sep 01, 2006 | $0.024 |
Aug 01, 2006 | $0.024 |
Jul 03, 2006 | $0.022 |
Jun 01, 2006 | $0.022 |
May 01, 2006 | $0.021 |
Apr 03, 2006 | $0.021 |
Mar 01, 2006 | $0.020 |
Feb 01, 2006 | $0.020 |
Dec 01, 2005 | $0.019 |
Nov 01, 2005 | $0.019 |
Oct 03, 2005 | $0.018 |
Sep 01, 2005 | $0.018 |
Aug 01, 2005 | $0.017 |
Jul 01, 2005 | $0.015 |
Jun 01, 2005 | $0.013 |
May 02, 2005 | $0.014 |
Apr 01, 2005 | $0.013 |
Mar 01, 2005 | $0.012 |
Feb 01, 2005 | $0.013 |
Jan 03, 2005 | $0.013 |
Dec 01, 2004 | $0.012 |
Nov 01, 2004 | $0.011 |
Oct 01, 2004 | $0.011 |
Sep 01, 2004 | $0.010 |
Aug 02, 2004 | $0.009 |
Jul 01, 2004 | $0.009 |
Jun 01, 2004 | $0.008 |
May 03, 2004 | $0.007 |
Apr 01, 2004 | $0.007 |
Mar 01, 2004 | $0.008 |
SUMAX - Fund Manager Analysis
Managers
Richard Bamford
Start Date
Tenure
Tenure Rank
Dec 31, 2003
17.1
17.1%
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
9.33
9.3%
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.
Wendy Casetta
Start Date
Tenure
Tenure Rank
Dec 22, 2011
9.12
9.1%
Wendy Casetta is a senior portfolio manager for the Wells Fargo Asset Management (WFAM) Municipal Fixed Income team. She joined Wells Fargo Asset Management (WFAM) from Strong Capital Management where she held a similar position. Prior to joining Strong, Wendy was a fixed income trader and investment associate at Barnett Capital Advisors in Jacksonville, FL. She began her investment industry career in 1993 as a registered representative at the Nicholas Company in Milwaukee, WI. Wendy earned a bachelor’s degree in finance from the University of Wisconsin, Oshkosh, and a master’s degree in business administration from the University of North Florida, Jacksonville.
Bruce Johns
Start Date
Tenure
Tenure Rank
Dec 31, 2011
9.09
9.1%
Bruce Johns is a senior portfolio manager for the Wells Fargo Asset Management (WFAM) Municipal Fixed Income team. In this capacity, he manages certain state specific mutual funds, oversees management for portfolio liquidity assets. In addition, he is a research analyst for several healthcare sector issuers. Bruce joined WFAM from Strong Capital Management where he was a senior research analyst. Prior to taking on the role of research analyst at Strong his area of responsibility included all fixed income settlements operations. Bruce began his investment industry career in 1998 as a mutual fund and brokerage agent with Strong Financial Services. 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
4.09
4.1%
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.
S. Leech
Start Date
Tenure
Tenure Rank
Apr 27, 2017
3.77
3.8%
– 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
3.77
3.8%
John C. Mooney is a Portfolio Manager at Western Asset. He has been with Western Asset since 2005.
Robert Amodeo
Start Date
Tenure
Tenure Rank
Apr 27, 2017
3.77
3.8%
Robert E. Amodeo is the Head of Municipals at Western Asset. He has been with Western Asset since 2005.
James Randazzo
Start Date
Tenure
Tenure Rank
Dec 31, 2019
1.09
1.1%
Jim Randazzo is a senior portfolio manager of the Wells Fargo Asset Management (WFAM) Short Duration Fixed Income team. Prior to joining WFAM, Jim had been with Evergreen or one of its predecessor firms since 2000. Prior to this, Jim served as a financial analyst at KPMG, LLP, as a financial adviser for Prudential Securities, and as a trader for HSBC. He began his investment industry career in 1993 at Greenwich Partners, Inc. He 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.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.03 | 35.86 | 7.01 | 0.25 |