SUMAX: SEI Tax Exempt Trust Short Duration Municipal Fund - MutualFunds.com
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SEI Short Duration Municipal F (STET)

SUMAX - Snapshot

Vitals

  • YTD Return -0.1%
  • 3 Yr Annualized Return 1.7%
  • 5 Yr Annualized Return 1.1%
  • Net Assets $1.25 B
  • Holdings in Top 10 14.5%

52 WEEK LOW AND HIGH

$10.13
$10.03
$10.16

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
  • Fund Type Open End Mutual Fund
  • Investment Style Muni National Short

Compare SUMAX to Popular Municipal Bond Funds and ETFs

Overview

Income Profile

Income Risk

Returns Profile

Allocations

Expenses

About

$14.80

0.00%

$84.65 B

-

$0.00

-0.40%

0.17%

$11.23

0.00%

$36.12 B

-

$0.00

-0.27%

0.17%

$13.65

0.00%

$26.06 B

-

$0.00

0.22%

0.52%

$15.93

0.00%

$22.20 B

-

$0.00

-0.13%

0.17%

$116.67

+0.23%

$21.92 B

-

-

-0.45%

0.07%

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%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    SEI Tax Exempt Trust Short Duration Municipal Fund
  • Fund Family Name
    SEI
  • Inception Date
    Nov 13, 2003
  • Shares Outstanding
    116931546
  • Share Class
    Inst
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Richard 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% -2.2% 6.0% 52.43%
1 Yr 2.7% -1.3% 26.9% 95.34%
3 Yr 1.7%* 0.3% 9.9% 97.10%
5 Yr 1.1%* -0.5% 7.8% 96.69%
10 Yr 0.9%* -0.1% 10.1% 98.63%

* Annualized

Return Ranking - Calendar

Period SUMAX Return Category Return Low Category Return High Rank in Category (%)
2020 0.7% -2.8% 310.0% 88.00%
2019 0.8% -0.3% 15.4% 96.81%
2018 0.0% -10.3% 97.2% 4.77%
2017 0.2% -100.0% 7.6% 86.11%
2016 -0.7% -7.9% 96.8% 2.71%

Total Return Ranking - Trailing

Period SUMAX Return Category Return Low Category Return High Rank in Category (%)
YTD -0.1% -2.2% 6.0% 52.49%
1 Yr 2.7% -4.2% 26.9% 87.34%
3 Yr 1.7%* -1.6% 9.9% 96.15%
5 Yr 1.1%* -1.7% 7.8% 95.18%
10 Yr 0.9%* -0.2% 10.1% 98.44%

* Annualized

Total Return Ranking - Calendar

Period SUMAX Return Category Return Low Category Return High Rank in Category (%)
2020 0.7% -2.8% 310.0% 88.00%
2019 0.8% -0.3% 15.4% 96.81%
2018 0.0% -10.3% 11.0% 8.76%
2017 0.2% -100.0% 7.6% 87.30%
2016 -0.7% -7.9% 3.0% 6.14%

NAV & Total Return History


SUMAX - Holdings

Concentration Analysis

SUMAX Category Low Category High SUMAX % Rank
Net Assets 1.25 B 911 K 84.6 B 26.37%
Number of Holdings 537 3 11766 21.70%
Net Assets in Top 10 181 M -192 M 4.03 B 26.08%
Weighting of Top 10 14.53% 2.3% 100.0% 64.36%

Top 10 Holdings

  1. METROPOLITAN TRANSN AUTH N Y REV 5% 2.46%
  2. DEUTSCHE BK SPEARS/LIFERS SER DBE-7001 TR 0.56% 1.78%
  3. BURKE CNTY GA DEV AUTH POLLUTN CTL REV 2.5% 1.52%
  4. SOUTHEAST ALA GAS SUPPLY DIST GAS SUPPLY REV 0.92% 1.42%
  5. NEW JERSEY ECONOMIC DEV AUTH REV 5% 1.37%
  6. ILLINOIS ST 5% 1.35%
  7. NORTH CAROLINA TPK AUTH TRIANGLE EXPWY SYS REV 5% 1.27%
  8. WESLACO TEX HSG OPPORTUNITIES CORP MULTIFAMILY HSG REV 1.42% 1.19%
  9. VALDOSTA GA HSG AUTH MULTIFAMILY REV 2.25% 1.15%
  10. BLACK BELT ENERGY GAS DIST ALA GAS PREPAY REV 0.98% 1.10%

Asset Allocation

Weighting Return Low Return High SUMAX % Rank
Bonds
93.82% 67.26% 147.73% 81.33%
Cash
6.18% -47.72% 29.76% 18.17%
Stocks
0.00% -0.15% 2.34% 44.79%
Preferred Stocks
0.00% -0.94% 0.15% 43.39%
Other
0.00% -13.58% 30.00% 46.36%
Convertible Bonds
0.00% 0.00% 1.26% 43.62%

Bond Sector Breakdown

Weighting Return Low Return High SUMAX % Rank
Municipal
93.82% 43.37% 100.00% 78.99%
Cash & Equivalents
6.18% 0.00% 29.76% 18.79%
Derivative
0.00% 0.00% 0.85% 43.28%
Securitized
0.00% 0.00% 7.36% 44.76%
Corporate
0.00% 0.00% 15.75% 52.56%
Government
0.00% 0.00% 50.36% 47.49%

Bond Geographic Breakdown

Weighting Return Low Return High SUMAX % Rank
US
93.82% 67.24% 141.36% 67.65%
Non US
0.00% 0.00% 23.50% 88.15%

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% 45.13%
Management Fee 0.33% 0.00% 1.12% 19.43%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.20% 0.01% 0.47% 88.04%

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% 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.

SUMAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 53.00% 0.00% 299.40% 85.73%

SUMAX - Distributions

Dividend Yield Analysis

SUMAX Category Low Category High SUMAX % Rank
Dividend Yield 0.00% 0.00% 1.80% 47.13%

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% 5.71% 89.20%

Capital Gain Distribution Analysis

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

Dividend Payout History

View More +

SUMAX - Fund Manager Analysis

Managers

Richard Bamford


Start Date

Tenure

Tenure Rank

Dec 31, 2003

17.34

17.3%

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

9.57

9.6%

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

9.36

9.4%

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

9.34

9.3%

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

4.33

4.3%

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

4.01

4.0%

– 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

4.01

4.0%

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

4.01

4.0%

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

1.33

1.3%

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
0.07 36.1 7.02 0.49