Fund Evaluator:
Core Fixed Income (AAEYX)
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Fund Details
Core Fixed Income Overview
Core Fixed Income (AAEYX) is an actively managed Taxable Bond Intermediate Core Bond fund. SEI launched the fund in 2023.
The investment seeks total return. Under normal circumstances, the fund will invest at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in fixed income securities. It is expected that the fund will invest at least 90% of its assets in a portfolio of securities designed to track, before fees and expenses, the performance of one or more indexes that represent broad exposure to the U.S. investment grade fixed income market (U.S. Investment Grade Index).
About Core Fixed Income (AAEYX)
There are 8 members of the management team with an average tenure of 3.35 years: Marc DiCosimo (2024), Tim Sauermelch (2023), Richard Bamford (2023), Bradley Sullivan (2023), Anthony Karaminas (2023), James Kramer (2023), Philip Terrenzio (2023), Sean Simko (2023). Management tenure is more important for actively managed funds than passive index funds.
The fund has 1 primary benchmark: S&P 500 (TR) (1970) index with a weighting of 100%. Core Fixed Income has 642 securities in its portfolio. The top 10 holdings constitute 19.0% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Core Fixed Income is part of the Fixed Income global asset class and is within the Taxable Bond fund group. Core Fixed Income has 7.4% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0%. There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 98.0% (90.6% domestic bond, 7.4% foreign bond and 0.0% convertible bond). Core Fixed Income has 2.0% of the portfolio in cash.
Assets Under Management
The fund has $188 million in total assets, which is below the $3 billion average for the Intermediate Core Bond category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
AAEYX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Core Fixed Income expense ratio is below average compared to funds in the Intermediate Core Bond category. Core Fixed Income has an expense ratio of 0.33%, which is 42% lower than its category average, making the fund expense ratio grade a B. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. A portfolio turnover rate cannot be currently calculated for Core Fixed Income. By way of comparison, the average portfolio turnover is 151% for the Intermediate Core Bond category.
Recently, in the month of August 2026, Core Fixed Income returned 0.4%, which earned it a grade of A, as the Intermediate Core Bond category had an average return of 0.3%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
Core Fixed Income has a trailing yield of 3.83%, which is below the 4.04% category average. The fund normally distributes its income annually and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Core Fixed Income Grades
Year to date, the fund has returned -0.4%, 0.0 percentage points worse than the category, which translates into a grade of C. The fund has returned 1.5% over the past year (grade of D).
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AAEYX Trailing NAV Total Returns Data as of 8/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| AAEYX Return (NAV) | 0.4% | -0.8% | 1.5% | na | na | na |
| AAEYX Grade | A | D | D | na | na | na |
| +/- Category | 0.1% | -0.0% | -0.1% | na | na | na |
| Intermediate Core Bond Avg | 0.3% | -0.8% | 1.6% | 4.0% | -0.4% | 1.4% |
| AAEYX Tax Cost Ratio | na | na | 1.5% | na | na | na |
AAEYX Annual NAV Total ReturnsData as of 8/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| AAEYX Return (NAV) | -0.4% | 6.7% | na | na | na | na | na | na | na | na | na |
| AAEYX Grade | C | D | na | na | na | na | na | na | na | na | na |
| +/- Category | -0.0% | -0.3% | na | na | na | na | na | na | na | na | na |
| Intermediate Core Bond Avg | -0.4% | 7.0% | 1.6% | 5.6% | -13.2% | -1.5% | 8.1% | 8.5% | -0.4% | 3.6% | 2.8% |
| Risk Measures | |
| Standard Deviation: | na |
| Total Risk Index: | na |
| Category Risk Index: | na |
| Category Risk Grade: | |
| Beta: | na |
| R-Squared: | na |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | na |
| Bond Investment Style: | na |
| Yield: | 3.8% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $188 Mil |
| Fund Total Assets: | $ 188 Mil |
| Share Class Type: | Other |
| Portfolio Turnover: | na |
Management Team
| Number of Managers: 8 | |||
| Longest Tenure: 3.6 years | |||
| Average Tenure: 3.4 years | |||
| Managers (Year): Sauermelch Tim (2023), Bamford Richard (2023), Sullivan Bradley (2023), Karaminas Anthony (2023), Kramer James (2023), Terrenzio Philip (2023), Simko Sean (2023), DiCosimo Marc (2024) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 642 |
| % in Top 10 Holdings: | 19.0% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 7.4% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 90.6% |
| Foreign Bond: | 7.4% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 2.0% |
Purchase Information
| Fund Family: | SEI |
| Phone Number: | 800-858-7233 |
| Website: |
| Status: | Open |
| Inception Date: | February 1, 2023 |
| Min. Initial Purchase: | $ 0 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 0.33% ( Rating : Below Avg ) |
| Category Average Expense Ratio (%): | 0.56% |
| Share Class: | Core Fixed Income |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
