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Trending ETFs

SIIT Long Duration Credit Fund

mutual fund
SLDAX
Payout Change
Pending
Price as of:
$7.98 +0.01 +0.13%
primary theme
U.S. Long-Term Bond Duration
share class
SLDAX (Mutual Fund)

SIIT Long Duration Credit Fund

Payout Change
Pending
Price as of:
$7.98 +0.01 +0.13%
primary theme
U.S. Long-Term Bond Duration
share class
SLDAX (Mutual Fund)

SIIT Long Duration Credit Fund

Payout Change
Pending
Price as of:
$7.98 +0.01 +0.13%
primary theme
U.S. Long-Term Bond Duration
share class

Name

As of 06/14/2024

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

$7.98

$2.82 B

4.94%

$0.39

0.37%

Vitals

YTD Return

-0.9%

1 yr return

3.5%

3 Yr Avg Return

-6.1%

5 Yr Avg Return

-0.1%

Net Assets

$2.82 B

Holdings in Top 10

12.9%

52 WEEK LOW AND HIGH

$8.0
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.37%

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 06/14/2024

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

$7.98

$2.82 B

4.94%

$0.39

0.37%

SLDAX - Profile

Distributions

  • YTD Total Return -0.9%
  • 3 Yr Annualized Total Return -6.1%
  • 5 Yr Annualized Total Return -0.1%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 3.08%
DIVIDENDS
  • Dividend Yield 4.9%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    SIIT Long Duration Credit Fund
  • Fund Family Name
    SEI Funds
  • Inception Date
    Jun 29, 2012
  • Shares Outstanding
    304979772
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Timothy Bacik

Fund Description

Under normal circumstances, the Long Duration Credit Fund will invest at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in investment grade US dollar-denominated fixed income instruments. The Fund will primarily invest in (i) US and foreign corporate obligations; (ii) fixed income securities issued by sovereigns or agencies in both developed and emerging foreign markets; (iii) obligations of supranational entities; (iv) debt obligations issued by state, provincial, county, or city

governments or other municipalities, as well as those of public utilities, universities and other quasi-governmental bodies; and (v) securities issued or guaranteed by the U.S. Government and its agencies and instrumentalities. The Fund will invest primarily in fixed income securities rated in one of the three highest rating categories by a major rating agency and may also invest in fixed income securities rated in the fourth highest rating category by a major rating agency.

The Fund will primarily invest in the instruments described above and may also invest in futures contracts, options on securities or indexes and swaps, including interest rate swaps, single security swaps, swaps on an index of securities or credit default swaps. The Fund will primarily use such derivatives for hedging purposes to attempt to manage the Fund's exposure to changes in interest rate duration and related investment risks resulting from the interaction of interest rate changes over time and the current value of fixed income securities. The Fund will typically use options and swaps in an attempt to either mitigate the Fund's overall level of risk or to gain exposure to a particular fixed income security or segment of the fixed income market. Interest rate swaps, credit default swaps and total return swaps may be used to manage various portfolio exposures including, but not limited to, interest rate risk and credit risk. The Fund may use credit default swaps to take an active long or short position with respect to a security or basket of securities. 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. The Fund may also, to a lesser extent, invest in shares of exchange-traded funds (ETFs) or mutual funds to obtain exposure to certain fixed income markets.

While the Fund may invest in securities with any maturity or duration, the Fund under normal circumstances will seek to maintain an effective average duration of greater than ten years. The Fund's effective average duration was approximately 13.30 years as of July 31, 2023. 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 ten-year duration, it will decrease in value by approximately 10% if interest rates rise 1% and increase in value by approximately 10% if interest rates fall 1%. Fixed income instruments with higher duration typically have higher risk and higher volatility.

The Fund uses a multi-manager approach under the general supervision of SEI Investments Management Corporation (SIMC or the Adviser), the Fund's adviser, allocating its assets among one or more sub-advisers (each, a Sub-Adviser and collectively, the Sub-Advisers) using different investment strategies designed to provide current income consistent with the preservation of capital.

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SLDAX - Performance

Return Ranking - Trailing

Period SLDAX Return Category Return Low Category Return High Rank in Category (%)
YTD -0.9% -1.9% 2.9% 50.00%
1 Yr 3.5% -0.5% 7.1% 59.38%
3 Yr -6.1%* -11.8% 35.5% 59.38%
5 Yr -0.1%* -7.0% 24.8% 51.61%
10 Yr 2.5%* -0.4% 13.8% 61.54%

* Annualized

Return Ranking - Calendar

Period SLDAX Return Category Return Low Category Return High Rank in Category (%)
2023 4.4% 0.4% 6.0% 46.88%
2022 -28.7% -31.0% 111.9% 46.88%
2021 -8.2% -8.2% -0.4% 100.00%
2020 8.1% 1.9% 12.2% 38.71%
2019 16.7% 1.2% 19.0% 26.67%

Total Return Ranking - Trailing

Period SLDAX Return Category Return Low Category Return High Rank in Category (%)
YTD -0.9% -1.9% 2.9% 50.00%
1 Yr 3.5% -0.5% 7.1% 59.38%
3 Yr -6.1%* -11.8% 35.5% 59.38%
5 Yr -0.1%* -7.0% 24.8% 51.61%
10 Yr 2.5%* -0.4% 13.8% 61.54%

* Annualized

Total Return Ranking - Calendar

Period SLDAX Return Category Return Low Category Return High Rank in Category (%)
2023 9.9% 0.4% 11.2% 34.38%
2022 -25.5% -31.0% 121.2% 40.63%
2021 -2.3% -2.9% 3.1% 81.25%
2020 16.8% 4.2% 18.6% 16.13%
2019 21.8% 4.6% 24.6% 43.33%

NAV & Total Return History


SLDAX - Holdings

Concentration Analysis

SLDAX Category Low Category High SLDAX % Rank
Net Assets 2.82 B 10.2 M 15.5 B 37.50%
Number of Holdings 1598 40 3591 34.38%
Net Assets in Top 10 389 M 3.92 M 1.8 B 40.63%
Weighting of Top 10 12.94% 2.9% 67.8% 65.63%

Top 10 Holdings

  1. US 5YR NOTE (CBT) JUN24 FINANCIAL COMMODITY FUTURE. 4.77%
  2. US ULTRA BOND CBT JUN24 FINANCIAL COMMODITY FUTURE. 1.17%
  3. US ULTRA BOND CBT JUN24 FINANCIAL COMMODITY FUTURE. 1.17%
  4. US TREASURY N/B 4.750000% 11/15/2053 1.10%
  5. US 2YR NOTE (CBT) JUN24 FINANCIAL COMMODITY FUTURE. 1.04%
  6. US TREASURY N/B 3.250000% 05/15/2042 0.92%
  7. US TREASURY N/B 4.375000% 08/15/2043 0.91%
  8. US ULTRA BOND CBT JUN24 FINANCIAL COMMODITY FUTURE. 0.76%
  9. ANHEUSER-BUSCH COS LLC / ANHEUSER-BUSCH INBEV WORL 4.900000% 02/01/2046 0.57%
  10. US TREASURY N/B 4.000000% 02/15/2034 0.53%

Asset Allocation

Weighting Return Low Return High SLDAX % Rank
Bonds
100.67% 70.55% 184.01% 21.88%
Other
7.14% -74.99% 9.55% 6.25%
Cash
0.88% -2.42% 12.08% 68.75%
Convertible Bonds
0.13% 0.00% 2.97% 81.25%
Stocks
0.00% 0.00% 9.17% 65.63%
Preferred Stocks
0.00% 0.00% 19.40% 75.00%

Bond Sector Breakdown

Weighting Return Low Return High SLDAX % Rank
Corporate
82.46% 0.41% 98.94% 34.38%
Government
10.52% 0.00% 46.64% 46.88%
Derivative
7.14% 0.00% 9.55% 6.25%
Municipal
5.94% 0.00% 99.04% 28.13%
Cash & Equivalents
0.88% 0.00% 12.08% 37.50%
Securitized
0.33% 0.00% 4.69% 53.13%

Bond Geographic Breakdown

Weighting Return Low Return High SLDAX % Rank
US
100.67% 70.55% 180.46% 21.88%
Non US
0.00% 0.00% 4.26% 78.13%

SLDAX - Expenses

Operational Fees

SLDAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.37% 0.04% 2.88% 62.50%
Management Fee 0.30% 0.03% 0.65% 43.75%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.05% 0.05% 0.40% 22.22%

Sales Fees

SLDAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 3.75% 4.75% N/A
Deferred Load N/A 1.00% 1.00% N/A

Trading Fees

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

SLDAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 1.00% 85.00% 65.79%

SLDAX - Distributions

Dividend Yield Analysis

SLDAX Category Low Category High SLDAX % Rank
Dividend Yield 4.94% 0.00% 6.52% 65.63%

Dividend Distribution Analysis

SLDAX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

SLDAX Category Low Category High SLDAX % Rank
Net Income Ratio 3.08% 2.10% 5.46% 59.38%

Capital Gain Distribution Analysis

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

Distributions History

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SLDAX - Fund Manager Analysis

Managers

Timothy Bacik


Start Date

Tenure

Tenure Rank

Jun 29, 2012

9.93

9.9%

Tim Bacik, CFA graduated from Wesleyan University with a B.A. in Economics. Mr. Bacik joined LGIMA in 2011 as a Senior Portfolio Manager and has over 23 years of industry experience. Tim serves as an analyst and portfolio manager, with over 14 years of fixed income experience. In 2019, he was promoted to Head of Active Fixed Income. Prior to joining Lee Munder Capital Group in April 2004, he worked at Alliance Capital as a portfolio manager for institutional core/core+ fixed income products. His responsibilities also included generating and executing strategies across all Alliance fixed income credit investors and providing daily commentary to Alliance fixed income personnel, who then communicated these strategies, ideas, and market events.

William O'Malley


Start Date

Tenure

Tenure Rank

Jun 29, 2012

9.93

9.9%

Bill joined IR+M in September 1994. Prior to IR+M, Bill was a Vice President at Wellington Management Company, LLP. Before joining Wellington in 1989, Bill worked at The Vanguard Group and in Morgan Stanley's Fixed Income Division. Bill has a BA from Amherst College (1984) and an MBA from The Wharton School of the University of Pennsylvania (1989).

Itai Lourie


Start Date

Tenure

Tenure Rank

Jun 29, 2012

9.93

9.9%

Itai is a Co-CIO of fixed income and a fixed income portfolio manager. He joined Jennison in 1996. Prior to assuming his current position in 2005, he was a fixed income trader with the firm. Itai received a BA in English from Amherst College.

Eric Staudt


Start Date

Tenure

Tenure Rank

Jun 29, 2012

9.93

9.9%

Eric is a fixed income portfolio manager. He joined Jennison in 2010. Prior to Jennison, Eric worked at UBS Global Asset Management for eleven years, most recently as a senior fixed income portfolio manager. He received a BA in economics from the University of Illinois and an MBA from DePaul University.

Jeffrey Koch


Start Date

Tenure

Tenure Rank

Jun 29, 2012

9.93

9.9%

Jeff Koch, CFA, joined LGIMA as a Senior Portfolio Manager in 2012 and was promoted to Co-Head of Fixed Income in 2013. In 2019, he was promoted to Head of Active Fixed Income. Mr. Koch has over 30 years of investment grade and high yield fixed income experience. Mr. Koch earned a B.S. in Economics from the University of Minnesota, Morris and an M.B.A. with an emphasis in Finance from Washington University. Prior to joining Metropolitan West Asset Management, Mr. Koch had been at Strong Capital Management for over 13 years where he was responsible for building their high yield bond business. Prior to joining Strong, he was employed by Fossett Corporation as a market maker clerk.

Dave Nirtaut


Start Date

Tenure

Tenure Rank

Jun 29, 2012

9.93

9.9%

Dave Nirtaut joined LGIMA in 2007 as Head of Securitized Assets and Interest Rates and was promoted to Head of Portfolio Management in 2012, and to Co-Head of Fixed Income in 2013. Mr. Nirtaut graduated from Indiana University with a B.S. in Finance and Accounting and from the University of Notre Dame with an M.B.A., magna cum laude.

Bryan Whalen


Start Date

Tenure

Tenure Rank

Dec 31, 2012

9.42

9.4%

Bryan T. Whalen, CFA Group Managing Director U.S. Fixed Income Mr. Whalen is a Generalist Portfolio Manager in the U.S. Fixed Income Group. Mr. Whalen joined TCW in 2009 during the acquisition of Metropolitan West Asset Management LLC (MetWest) as co-head of the Securitized Products division. Prior to joining TCW, Mr. Whalen was a partner and co-head of MetWest's Securitized Products division. Prior to joining MetWest in 2004, he was a director in the fixed income department at Credit Suisse First Boston in New York. Previously, he was a vice president at Donaldson, Lufkin & Jenrette. Mr. Whalen earned a BA in Economics from Yale University. He is a CFA charterholder.

Stephen Mullin


Start Date

Tenure

Tenure Rank

Sep 30, 2013

8.67

8.7%

Stephen Mullin is a portfolio manager and leads long duration fixed income for MetLife Investment Management (MIM) Public Fixed Income. Mullin joined MIM in September 2017, in connection with the acquisition of Logan Circle Partners (LCP) by MetLife. He assists in the risk / duration management of core-based and credit mandates. Prior to joining LCP in 2007, Mullin worked on the long duration portfolio management team at Delaware Investments. Prior to joining Delaware Investments, he worked at Ryan Labs where he created custom liability indices and performed asset/liability studies for the firm's clients, including public and private defined benefit plans, insurance companies, and state lotteries.

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.

Jake Remley


Start Date

Tenure

Tenure Rank

Sep 30, 2020

1.67

1.7%

Jake joined IR+M in July 2005. Prior to IR+M, he was an associate with Lehman Brothers Holdings. Previously, he was a Senior Consultant at Whitelight Systems, Inc. Jake has a BSE from Princeton University (1995) and an MBA from the Kellogg School of Management at Northwestern University (2002).

Tenure Analysis

Category Low Category High Category Average Category Mode
1.67 17.42 8.03 6.25