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Trending ETFs

Name

As of 10/04/2024

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

$10.01

$828 M

2.72%

$0.27

0.81%

Vitals

YTD Return

2.8%

1 yr return

5.1%

3 Yr Avg Return

1.4%

5 Yr Avg Return

1.3%

Net Assets

$828 M

Holdings in Top 10

13.0%

52 WEEK LOW AND HIGH

$10.0
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.81%

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 10/04/2024

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

$10.01

$828 M

2.72%

$0.27

0.81%

SUMAX - Profile

Distributions

  • YTD Total Return 2.8%
  • 3 Yr Annualized Total Return 1.4%
  • 5 Yr Annualized Total Return 1.3%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.77%
DIVIDENDS
  • Dividend Yield 2.7%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    STET SHORT DURATION MUNICIPAL FUND
  • Fund Family Name
    SEI
  • Inception Date
    Nov 13, 2003
  • Shares Outstanding
    116560146
  • Share Class
    Other
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Richard 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.

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SUMAX - Performance

Return Ranking - Trailing

Period SUMAX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.8% -1.9% 26.5% 55.87%
1 Yr 5.1% 2.4% 37.3% 96.42%
3 Yr 1.4%* -9.9% 3.4% 4.93%
5 Yr 1.3%* -6.7% 1104.9% 18.74%
10 Yr 1.0%* -0.8% 248.9% 83.23%

* Annualized

Return Ranking - Calendar

Period SUMAX Return Category Return Low Category Return High Rank in Category (%)
2023 1.4% -1.4% 41.0% 89.35%
2022 -2.8% -39.7% 0.3% 2.90%
2021 -0.6% -5.6% 6.9% 53.67%
2020 0.7% -2.6% 310.0% 88.33%
2019 0.8% 0.0% 26.0% 97.22%

Total Return Ranking - Trailing

Period SUMAX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.8% -1.9% 26.5% 55.87%
1 Yr 5.1% 2.4% 37.3% 96.42%
3 Yr 1.4%* -9.9% 3.4% 4.93%
5 Yr 1.3%* -6.7% 1104.9% 18.74%
10 Yr 1.0%* -0.8% 248.9% 83.23%

* Annualized

Total Return Ranking - Calendar

Period SUMAX Return Category Return Low Category Return High Rank in Category (%)
2023 3.7% -1.3% 41.0% 88.96%
2022 -1.8% -39.7% 1.1% 2.97%
2021 0.1% -4.8% 23761504.0% 85.26%
2020 1.9% -1.5% 17057.9% 90.49%
2019 2.3% 0.2% 3514.6% 97.29%

NAV & Total Return History


SUMAX - Holdings

Concentration Analysis

SUMAX Category Low Category High SUMAX % Rank
Net Assets 828 M 3.22 M 71.9 B 33.33%
Number of Holdings 495 4 13418 25.75%
Net Assets in Top 10 110 M -317 M 3.45 B 40.74%
Weighting of Top 10 13.04% 1.9% 100.1% 72.18%

Top 10 Holdings

  1. MAIN STREET NATURAL GAS INC GA MAIN STREET NATURAL GAS INC 2.17%
  2. INDIANA ST FIN AUTH ENVRNMNTL INDIANA FINANCE AUTHORITY 1.67%
  3. ARLINGTON TX HSG FIN CORP MF H ARLINGTON HOUSING FINANCE CORP 1.30%
  4. ROCKPORT IN POLL CONTROL REVEN CITY OF ROCKPORT IN 1.23%
  5. LOWER AL GAS DIST GAS PROJ REV LOWER ALABAMA GAS DISTRICT/THE 1.19%
  6. WEST VIRGINIA ST ECON DEV AUTH WEST VIRGINIA ECONOMIC DEVELOPMENT AUTHORITY 1.19%
  7. MISSOURI ST ENVRNMNTL IMPT E MISSOURI STATE ENVIRONMENTAL IMPROVEMENT ENERGY 1.13%
  8. HOUSTON TX INDEP SCH DIST HOUSTON INDEPENDENT SCHOOL DISTRICT 1.13%
  9. SAN ANTONIO TX ELEC GAS REVE CITY OF SAN ANTONIO TX ELECTRIC GAS SYSTEMS REVE 1.02%
  10. TULSA OK CITY OF TULSA OK 1.01%

Asset Allocation

Weighting Return Low Return High SUMAX % Rank
Bonds
100.78% 0.00% 150.86% 12.93%
Stocks
0.00% 0.00% 99.89% 45.23%
Preferred Stocks
0.00% 0.00% 0.08% 35.63%
Other
0.00% -3.72% 51.88% 40.61%
Convertible Bonds
0.00% 0.00% 0.93% 34.84%
Cash
0.00% -50.86% 43.45% 89.38%

Bond Sector Breakdown

Weighting Return Low Return High SUMAX % Rank
Municipal
96.03% 44.39% 100.00% 73.75%
Derivative
0.00% -3.72% 51.88% 37.82%
Cash & Equivalents
0.00% 0.00% 43.45% 71.07%
Securitized
0.00% 0.00% 5.93% 35.84%
Corporate
0.00% 0.00% 9.41% 45.37%
Government
0.00% 0.00% 52.02% 39.51%

Bond Geographic Breakdown

Weighting Return Low Return High SUMAX % Rank
US
100.78% 0.00% 142.23% 12.54%
Non US
0.00% 0.00% 23.89% 40.54%

SUMAX - Expenses

Operational Fees

SUMAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.81% 0.01% 8.02% 41.70%
Management Fee 0.33% 0.00% 1.20% 20.62%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.20% 0.01% 0.44% 88.57%

Sales Fees

SUMAX 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

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 30.00% 0.00% 283.00% 78.45%

SUMAX - Distributions

Dividend Yield Analysis

SUMAX Category Low Category High SUMAX % Rank
Dividend Yield 2.72% 0.00% 14.51% 84.02%

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 0.77% -0.53% 5.33% 92.14%

Capital Gain Distribution Analysis

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

Distributions History

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SUMAX - 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.

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.

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

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 7.33 1.58