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Trending ETFs

STET TAX-ADVANTAGED INCOME FUND

mutual fund
STAYX
Payout Change
Pending
Price as of:
$9.33 +0.0 +0.0%
primary theme
U.S. Intermediate-Term Bond Duration
share class
STAYX (Mutual Fund)

STET TAX-ADVANTAGED INCOME FUND

Payout Change
Pending
Price as of:
$9.33 +0.0 +0.0%
primary theme
U.S. Intermediate-Term Bond Duration
share class
STAYX (Mutual Fund)

STET TAX-ADVANTAGED INCOME FUND

Payout Change
Pending
Price as of:
$9.33 +0.0 +0.0%
primary theme
U.S. Intermediate-Term Bond Duration
share class

Name

As of 06/21/2024

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

$9.33

$1.03 B

5.13%

$0.48

0.83%

Vitals

YTD Return

4.3%

1 yr return

8.6%

3 Yr Avg Return

-0.3%

5 Yr Avg Return

2.4%

Net Assets

$1.03 B

Holdings in Top 10

9.6%

52 WEEK LOW AND HIGH

$9.3
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.83%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 17.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$100,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 06/21/2024

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

$9.33

$1.03 B

5.13%

$0.48

0.83%

STAYX - Profile

Distributions

  • YTD Total Return 4.3%
  • 3 Yr Annualized Total Return -0.3%
  • 5 Yr Annualized Total Return 2.4%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 3.78%
DIVIDENDS
  • Dividend Yield 5.1%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    STET TAX-ADVANTAGED INCOME FUND
  • Fund Family Name
    SEI Funds
  • Inception Date
    Sep 04, 2007
  • Shares Outstanding
    19804111
  • Share Class
    Y
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Mark Lieb

Fund Description

The Tax-Advantaged Income Fund will invest, under normal circumstances, at least 50% of its net assets in municipal securities, such as bonds, that pay interest that is exempt from federal income tax, including the alternative minimum tax. The principal issuers of these securities are state and local governments and their agencies located in any of the fifty states, as well as in Puerto Rico and other U.S. territories and possessions. The Fund may invest more than 25% of its total assets in bonds of issuers in California and New York. Under

most market conditions, a large percentage of the municipal securities in which the Fund invests will be below investment grade (junk bonds), but the Fund, without limitation, may invest in higher rated municipal securities.

To a lesser extent, the Fund will also invest in a full range of preferred stock with an emphasis on preferred securities that, at the time of issuance, are eligible to pay dividends that qualify for certain favorable federal income tax treatment, such as dividends that are treated as qualified dividend income and eligible for the dividends received deduction (in each instance, provided certain requirements and holding periods are satisfied, see "Taxes"). The amount invested in preferred stocks at any one time will depend on the attractiveness of the after-tax income stream produced by the preferred securities and will be less than 50% of the Fund's net assets. It is possible that the Fund could own no preferred securities if municipal securities produce a higher yield on an after-tax basis.

Although the Fund may invest a portion of its assets in securities other than municipal and preferred securities, the Fund will seek to purchase securities that generate income eligible for preferential tax treatment in the hands of shareholders. The Fund may also invest in convertible securities, securities eligible for resale under Rule 144A of the Securities Act of 1933, as amended, and other privately placed securities, debt securities subject to federal income tax, common stock and open and closed-end funds. SEI Investments Management Corporation (SIMC or the Adviser) may directly invest up to 5% of the Fund's assets in closed-end bond funds.

The Fund uses a multi-manager approach to manage the Fund's portfolio under the general supervision of SIMC. Each sub-adviser (each, a Sub-Adviser and collectively, the Sub-Advisers) and, to the extent applicable, SIMC selects securities based on its view on the future direction of interest rates and the shape of the yield curve, as well as its views on credit quality and sector allocation issues. Where possible, each Sub-Adviser and, to the extent applicable, SIMC, will attempt to acquire securities that are underpriced relative to other eligible securities. Each Sub-Adviser and, to the extent applicable, SIMC, will seek to maintain duration of four to eleven years for the Fund's entire portfolio. The Fund may invest in securities subject to the alternative minimum tax or in taxable debt securities.

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STAYX - Performance

Return Ranking - Trailing

Period STAYX Return Category Return Low Category Return High Rank in Category (%)
YTD 4.3% -4.6% 5.4% 0.50%
1 Yr 8.6% -8.4% 13.4% 1.51%
3 Yr -0.3%* -10.6% 26.5% 1.26%
5 Yr 2.4%* -7.3% 191.2% 3.21%
10 Yr N/A* -2.6% 73.7% 3.22%

* Annualized

Return Ranking - Calendar

Period STAYX Return Category Return Low Category Return High Rank in Category (%)
2023 2.0% -16.2% 8.1% 54.55%
2022 -15.7% -34.7% 131.9% 41.63%
2021 0.6% -11.6% 4.4% 0.43%
2020 1.5% -10.1% 946.1% 91.64%
2019 4.6% -1.7% 16.9% 75.15%

Total Return Ranking - Trailing

Period STAYX Return Category Return Low Category Return High Rank in Category (%)
YTD 4.3% -4.6% 5.4% 0.50%
1 Yr 8.6% -8.4% 13.4% 1.51%
3 Yr -0.3%* -10.6% 26.5% 1.26%
5 Yr 2.4%* -7.3% 191.2% 3.21%
10 Yr N/A* -2.6% 73.7% 3.11%

* Annualized

Total Return Ranking - Calendar

Period STAYX Return Category Return Low Category Return High Rank in Category (%)
2023 7.4% -11.3% 11.0% 10.81%
2022 -11.8% -32.2% 131.9% 9.92%
2021 5.7% -9.4% 9.2% 0.22%
2020 7.1% -1.9% 1009.0% 78.60%
2019 9.6% 1.1% 21668.0% 29.85%

NAV & Total Return History


STAYX - Holdings

Concentration Analysis

STAYX Category Low Category High STAYX % Rank
Net Assets 1.03 B 2.9 M 314 B 54.87%
Number of Holdings 503 1 17816 61.13%
Net Assets in Top 10 98.9 M 1.57 M 34.8 B 71.50%
Weighting of Top 10 9.63% 4.4% 132.5% 93.73%

Top 10 Holdings

  1. TEXAS WTR DEV BRD ST WTR IMPLE TEXAS WATER DEVELOPMENT BOARD 1.11%
  2. NEW YORK ST LIBERTY DEV CORP L NEW YORK LIBERTY DEVELOPMENT CORP 1.05%
  3. PUERTO RICO CMWLTH COMMONWEALTH OF PUERTO RICO 1.03%
  4. PUERTO RICO CMWLTH COMMONWEALTH OF PUERTO RICO 0.97%
  5. GDB DEBT RECOVERY AUTH OF CMWL GDB DEBT RECOVERY AUTHORITY OF PUERTO RICO 0.97%
  6. TRUIST FINANCIAL CORP 4.800000% MATURITY: PERPETUAL 0.96%
  7. AFFORDABLE HSG OPPORTUNITIES T AFFORDABLE HOUSING OPPORTUNITIES TRUST SERIES AH-0 0.93%
  8. PUERTO RICO CMWLTH COMMONWEALTH OF PUERTO RICO 0.89%
  9. PUERTO RICO SALES TAX FING COR PUERTO RICO SALES TAX FINANCING CORP SALES TAX REV 0.87%
  10. DOMINION ENERGY INC 4.650000% MATURITY: PERPETUAL 0.85%

Asset Allocation

Weighting Return Low Return High STAYX % Rank
Bonds
95.65% 0.00% 211.59% 49.85%
Cash
6.06% -54.51% 87.74% 26.08%
Preferred Stocks
3.45% 0.00% 74.98% 0.30%
Convertible Bonds
2.16% 0.00% 7.93% 25.35%
Stocks
0.00% 0.00% 99.99% 93.67%
Other
-5.17% -16.94% 53.20% 98.59%

Bond Sector Breakdown

Weighting Return Low Return High STAYX % Rank
Municipal
70.38% 0.00% 100.00% 0.91%
Corporate
22.68% 0.00% 100.00% 78.60%
Cash & Equivalents
0.25% 0.00% 83.04% 80.46%
Securitized
0.00% 0.00% 98.40% 100.00%
Government
0.00% 0.00% 86.23% 99.80%
Derivative
-5.17% -9.72% 50.66% 99.80%

Bond Geographic Breakdown

Weighting Return Low Return High STAYX % Rank
US
95.65% 0.00% 211.59% 46.02%
Non US
0.00% 0.00% 33.48% 93.66%

STAYX - Expenses

Operational Fees

STAYX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.83% 0.01% 39.10% 38.56%
Management Fee 0.50% 0.00% 1.76% 92.07%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.30% 0.01% 0.50% 96.73%

Sales Fees

STAYX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.00% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

STAYX 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.

STAYX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 17.00% 2.00% 493.39% 2.73%

STAYX - Distributions

Dividend Yield Analysis

STAYX Category Low Category High STAYX % Rank
Dividend Yield 5.13% 0.00% 10.11% 23.32%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

STAYX Category Low Category High STAYX % Rank
Net Income Ratio 3.78% -1.28% 4.79% 1.06%

Capital Gain Distribution Analysis

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

Distributions History

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STAYX - Fund Manager Analysis

Managers

Mark Lieb


Start Date

Tenure

Tenure Rank

Sep 04, 2007

14.75

14.8%

Prior to founding Spectrum in 1987, Mr. Lieb was a Founder, Director and Partner of DBL Preferred Management, Inc., a wholly owned corporate cash management subsidiary of Drexel Burnham Lambert, Inc. Mr. Lieb was instrumental in the formation and development of all aspects of DBL Preferred Management, Inc., including the daily management of preferred stock portfolios for institutional clients, hedging strategies, and marketing strategies. Mr. Lieb's prior employment included the development of the preferred stock trading desk at Mosley Hallgarten & Estabrook. Mr. Lieb holds a BA in Economics from Central Connecticut State College and a MBA (Finance) from the University of Hartford.

L. Jacoby


Start Date

Tenure

Tenure Rank

Sep 04, 2007

14.75

14.8%

Mr. Jacoby joined Spectrum in 1995 as a Portfolio Manager and most recently held the position of Managing Director and Senior Portfolio Manager until his appointment as CIO on January 1, 2010, following the planned retirement of his predecessor. Prior to joining Spectrum, Mr. Jacoby was a Senior Investment Officer at USL Capital Corporation (a subsidiary of Ford Motor Corporation) and co-manager of the preferred stock portfolio of its US Corporate Financing Division for six years. Mr. Jacoby began his career in 1981 with The Northern Trust Company, Chicago and then moved to Los Angeles to join E.F. Hutton & Co. as a Vice President and Institutional Salesman, Generalist Fixed Income Sales through most of the 1980s. Mr. Jacoby holds a BSBA (Finance) from the Boston University School of Management.

Richard Bamford


Start Date

Tenure

Tenure Rank

Dec 31, 2007

14.42

14.4%

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.

Manu Krishnan


Start Date

Tenure

Tenure Rank

Dec 31, 2007

14.42

14.4%

Manu Krishnan joined Spectrum in 2004. Mr. Krishnan earned a B.S. in Mechanical Engineering from the College of Engineering, Osmania University, India, an M.S. in Mechanical Engineering from the University of Delaware, and an M.B.A. in Finance from Cornell University. Mr. Krishnan has earned the right to use the Chartered Financial Analyst designation.

Roberto Giangregorio


Start Date

Tenure

Tenure Rank

Dec 31, 2007

14.42

14.4%

Mr. Giangregorio joined Spectrum in 2003. Previously, he was an intern with the Cayuga MBA Fund LLC where he covered Utility Sector equities. He also worked for the Ford Motor Company for over eight years as an engine design engineer. Mr. Giangregorio holds a BS (Mechanical Engineering) from S.U.N.Y. at Stony Brook, a MS (Mechanical Engineering) from the University of Wisconsin-Madison and a MBA (Finance) with distinction from Cornell University.

Fernando Diaz


Start Date

Tenure

Tenure Rank

Dec 31, 2007

14.42

14.4%

Prior to joining Spectrum in 2000, Mr. Diaz was head of preferred trading at Spear, Leeds & Kellogg and Pershing, a division of DLJ, where he initiated preferred trading operations at both firms. Mr. Diaz also worked at Goldman Sachs as an analyst in the Investment Banking division and in the Preferred Stock Department as a trader and product analyst.

David Hammer


Start Date

Tenure

Tenure Rank

Dec 31, 2015

6.42

6.4%

Mr. Hammer is an executive vice president in the New York office and head of municipal bond portfolio management. He rejoined PIMCO in 2015 from Morgan Stanley, where he was managing director and head of municipal trading, risk management and research. Previously at PIMCO, he was a senior vice president and municipal bond portfolio manager, and prior to joining PIMCO in 2012, he was an executive director and head of the high yield and distressed municipal bond trading group at Morgan Stanley. He has 17 years of investment experience and holds an undergraduate degree from Syracuse University.

Terry Goode


Start Date

Tenure

Tenure Rank

Dec 11, 2017

4.47

4.5%

Terry Goode is a senior portfolio manager for the Municipal Fixed Income team at Allspring Global Investments. He is responsible for managing national and state-specific mutual funds, insurance accounts, and separate accounts. Terry joined Allspring from its predecessor firm, Wells Fargo Asset Management (WFAM). Before this, he served as head of the WFAM Tax-Exempt Research team, leading the group responsible for providing credit research to the Municipal Fixed Income team. Prior to joining WFAM, Terry performed similar research duties and provided bond ratings as a director at Standard & Poor’s Credit Market Services. He held a similar position with Wells Fargo Bank’s health care division. Terry earned a bachelor’s degree in economics from the University of California, Los Angeles, and a master’s degree in business administration with an emphasis in finance and investment strategy from the Haas School of Business at the University of California, Berkeley. Terry is a member of the National Federation of Municipal Analysts and the Society of Municipal Analysts and served as former chair and member of the California Society of Municipal Analysts.

Dennis Derby


Start Date

Tenure

Tenure Rank

Dec 11, 2017

4.47

4.5%

Mr. Derby joined Wells Capital Management or one of its predecessor firms in 1995, where he currently serves as a Senior Research Analyst and Portfolio Manager with the Tax- Exempt Fixed-Income team.

Kerry Laurin


Start Date

Tenure

Tenure Rank

Dec 31, 2020

1.41

1.4%

Ms. Laurin joined Wells Capital Management or one of its predecessor firms in 2016, where she currently serves as a Senior Analyst. Prior to joining WFAM, she was as a research analyst for Heartland Advisors where she covered taxable fixed income, consumer, and utility equity sectors.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 33.43 6.78 1.16