Fund Evaluator:

SEI Small Cap II A (SIIT) Overview

SEI Small Cap II A (SIIT) (SECAX) is an actively managed U.S. Equity Small Blend fund. SEI launched the fund in 2012.

The investment seeks capital appreciation. The fund will invest at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in equity securities (including common and preferred stocks) of small companies, ETFs based on small capitalization indexes and securities of REITs. For purposes of this fund, a small company is a company with a market capitalization in the range of companies in the Russell 2000 Index at the time of purchase. It uses a multi-manager approach, relying upon one or more Sub-Advisers with differing investment philosophies to manage portions of the fund's portfolio under the general supervision of SIMC.

About SEI Small Cap II A (SIIT) (SECAX)

There are 17 members of the management team with an average tenure of 5.90 years: Jason Collins (2016), Tony Batek (2026), David McGonigle (2018), A. Christopher Guthrie (2026), Eric Brown (2018), Mark Giovanniello (2018), David Hintz (2024), Daniel Allen (2020), Kristin Ceglar (2020), Jeff Walkenhorst (2018), Philip Greenblatt (2020), Ted Chen (2026), Cory Furlong (2024), Jay Willadsen (2022), R. Vingers (2012), Hal Reynolds (2020), Joshua Schachter (2014). Management tenure is more important for actively managed funds than passive index funds.

The fund has 2 primary benchmarks: S&P 500 (TR) (1970) index with a weighting of 100% and Russell 2000 TR USD index with a weighting of 100%. SEI Small Cap II A (SIIT) has 543 securities in its portfolio. The top 10 holdings constitute 10.8% 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 Small Cap II A (SIIT) is part of the Equity global asset class and is within the U.S. Equity fund group. SEI Small Cap II A (SIIT) has 3.3% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 93.9%. There is 3.3% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). SEI Small Cap II A (SIIT) has 2.8% of the portfolio in cash.

Assets Under Management

The fund has $241 million in total assets, which is below the $685 million average for the Small Blend 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.

SECAX 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 Small Cap II A (SIIT) expense ratio is average compared to funds in the Small Blend category. SEI Small Cap II A (SIIT) has an expense ratio of 0.40%, which is 62% 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 Small Cap II A (SIIT) has a portfolio turnover rate of 94%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 66% for the Small Blend category.

Recently, in the month of July 2026, SEI Small Cap II A (SIIT) returned -1.8%, which earned it a grade of B, as the Small Blend category had an average return of -2.8%. 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 Small Cap II A (SIIT) has a trailing yield of 1.27%, which is above the 0.42% 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 Small Cap II A (SIIT) Grades

Year to date, the fund has returned 18.1%, 0.0 percentage points worse than the category, which translates into a grade of C. The fund has returned 33.9% over the past year (grade of B), 15.5% over the past three years (grade of B) and 9.0% per year over the past five years (grade of B) and 11.4% per year over the past 10 years (grade of B).

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