Fund Evaluator:

SEI Opportunistic Income A (SIIT) Overview

SEI Opportunistic Income A (SIIT) (ENIAX) is an actively managed Taxable Bond Multisector Bond fund. SEI launched the fund in 2006.

The investment seeks capital appreciation and income. The fund invests primarily in a diversified portfolio of investment grade and junk bonds, including: (i) securities issued or guaranteed by the U.S. government and its agencies and instrumentalities and obligations of U.S. and foreign commercial banks; (ii) obligations of foreign governments; (iii) U.S. and foreign corporate debt securities, including commercial paper, and fully-collateralized repurchase agreements with counterparties deemed credit-worthy by the fund's Sub-Advisers; and (iv) securitized issues.

About SEI Opportunistic Income A (SIIT) (ENIAX)

There are 9 members of the management team with an average tenure of 7.01 years: Seth Brufsky (2009), Richard Bamford (2014), Anthony Karaminas (2021), David Bees (2016), Samantha Milner (2018), Marc K. Piccuirro (2023), Connor Minnaar (2023), Nilay Shah (2021), Russel Almeida (2024). Management tenure is more important for actively managed funds than passive index funds.

The fund has 2 primary benchmarks: Bloomberg US Agg Bond TR USD index with a weighting of 100% and ICE BofA USD 3M Dep OR CM TR USD index with a weighting of 100%. SEI Opportunistic Income A (SIIT) has 907 securities in its portfolio. The top 10 holdings constitute 11.3% 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.

SEI Opportunistic Income A (SIIT) is part of the Fixed Income global asset class and is within the Taxable Bond fund group. SEI Opportunistic Income A (SIIT) has 3.9% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.7%. 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 92.3% (88.4% domestic bond, 3.9% foreign bond and 0.0% convertible bond). SEI Opportunistic Income A (SIIT) has 7.1% of the portfolio in cash.

Assets Under Management

The fund has $402 million in total assets, which is below the $1 billion average for the Multisector 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.

ENIAX 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 SEI Opportunistic Income A (SIIT) expense ratio is below average compared to funds in the Multisector Bond category. SEI Opportunistic Income A (SIIT) has an expense ratio of 0.29%, which is 69% lower than its category average, making the fund expense ratio grade a A. 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. SEI Opportunistic Income A (SIIT) has a portfolio turnover rate of 47%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 157% for the Multisector Bond category.

Recently, in the month of August 2026, SEI Opportunistic Income A (SIIT) returned 0.5%, which earned it a grade of C, as the Multisector Bond category had an average return of 0.5%. 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.

SEI Opportunistic Income A (SIIT) has a trailing yield of 6.10%, which is above the 5.31% category average. The fund normally distributes its income quarterly 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.

SEI Opportunistic Income A (SIIT) Grades

Year to date, the fund has returned 2.8%, 1.4 percentage points better than the category, which translates into a grade of A. The fund has returned 4.8% over the past year (grade of A), 6.9% over the past three years (grade of C) and 5.2% per year over the past five years (grade of A) and 4.4% per year over the past 10 years (grade of A).

For more mutual fund grades, analysis and screening tools to help your investment discovery, join AAII for a $2, full-access trial. Learn more here: https://invest.aaii.com/membership.

Otherwise, for more information about SEI Opportunistic Income A (SIIT), including its riskiness, submit your email to unlock the rest of the article.