Fund Evaluator:
SEI Defensive Strategy I (SAAT) (SEDIX)
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Fund Details
SEI Defensive Strategy I (SAAT) Overview
SEI Defensive Strategy I (SAAT) (SEDIX) is an actively managed Taxable Bond Short-Term Bond fund. SEI launched the fund in 2003.
The investment seeks to manage risk of loss while providing current income and opportunity for limited capital appreciation. The fund predominantly invests in other SEI Funds, each of which has its own investment goal (the underlying SEI Funds). The underlying SEI Funds invest, in turn, in securities and other instruments of various asset classes. The fund's assets may be diversified across underlying SEI bond and money market funds, equity funds, real estate funds and multi-asset funds.
About SEI Defensive Strategy I (SAAT) (SEDIX)
There are 2 members of the management team with an average tenure of 7.01 years: Bryan Hoffman (2016), Ryan Marcante (2022). Management tenure is more important for actively managed funds than passive index funds.
The fund has 5 primary benchmarks: Bloomberg US Agg Bond TR USD index with a weighting of 100%, Bloomberg 1-3 Year Govt/Credit TR USD index with a weighting of 70%, Bloomberg 1-3 Yr US Treasury TR USD index with a weighting of 20%, Russell 3000 TR USD index with a weighting of 5% and MSCI ACWI Ex USA NR USD index with a weighting of 5%. SEI Defensive Strategy I (SAAT) has 10 securities in its portfolio. The top 10 holdings constitute 100.0% 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.
SEI Defensive Strategy I (SAAT) is part of the Fixed Income global asset class and is within the Taxable Bond fund group. SEI Defensive Strategy I (SAAT) has 12.2% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 10.9%. There is 10.1% allocated to foreign stock, and 0.1% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 30.2% (28.0% domestic bond, 2.1% foreign bond and 0.0% convertible bond). SEI Defensive Strategy I (SAAT) has 44.8% of the portfolio in cash.
Assets Under Management
The fund has $226 million in total assets, which is below the $904 million average for the Short-Term 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.
SEDIX 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 Defensive Strategy I (SAAT) expense ratio is high compared to funds in the Short-Term Bond category. SEI Defensive Strategy I (SAAT) has an expense ratio of 0.90%, which is 36% higher than its category average, making the fund expense ratio grade a D. 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 Defensive Strategy I (SAAT) has a portfolio turnover rate of 14%, indicating that holds its assets around 0.1 years. By way of comparison, the average portfolio turnover is 135% for the Short-Term Bond category.
Recently, in the month of July 2026, SEI Defensive Strategy I (SAAT) returned 0.4%, which earned it a grade of A, as the Short-Term Bond category had an average return of -0.0%. 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 Defensive Strategy I (SAAT) has a trailing yield of 2.98%, which is below the 4.16% 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 Defensive Strategy I (SAAT) Grades
Year to date, the fund has returned 2.1%, 1.3 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), 5.2% over the past three years (grade of B) and 2.8% per year over the past five years (grade of B) and 2.6% per year over the past 10 years (grade of B).
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SEDIX Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| SEDIX Return (NAV) | 0.4% | 0.6% | 4.8% | 5.2% | 2.8% | 2.6% |
| SEDIX Grade | A | A | A | B | B | B |
| +/- Category | 0.5% | 0.3% | 1.4% | 0.2% | 0.5% | 0.3% |
| Short-Term Bond Avg | -0.0% | 0.3% | 3.4% | 5.0% | 2.2% | 2.3% |
| SEDIX Tax Cost Ratio | na | na | 1.2% | 1.4% | 1.4% | 1.0% |
SEDIX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| SEDIX Return (NAV) | 2.1% | 6.1% | 4.9% | 4.9% | -3.9% | 2.1% | 2.5% | 6.1% | -0.6% | 2.6% | 2.2% |
| SEDIX Grade | A | B | C | D | B | A | F | A | F | A | C |
| +/- Category | 1.3% | 0.2% | -0.1% | -0.7% | 1.2% | 2.1% | -1.7% | 1.3% | -1.3% | 0.7% | -0.3% |
| Short-Term Bond Avg | 0.9% | 5.9% | 4.9% | 5.6% | -5.0% | -0.0% | 4.2% | 4.8% | 0.7% | 1.9% | 2.5% |
| Risk Measures | |
| Standard Deviation: | 2.3% |
| Total Risk Index: | 0.18 - Low |
| Category Risk Index: | 1.15 - Above Average |
| Category Risk Grade: | D (76% Rank) |
| Beta: | 0.36 |
| R-Squared: | 83% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Blend |
| Bond Investment Style: | na |
| Yield: | 3.0% |
| Dividend Distribution: | Quarterly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $9 Mil |
| Fund Total Assets: | $ 0 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 14% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 10.0 years | |||
| Average Tenure: 7.0 years | |||
| Managers (Year): Hoffman Bryan (2016), Marcante Ryan (2022) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 10 |
| % in Top 10 Holdings: | 100.0% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 12.2% |
Portfolio Allocation |
|
| Domestic Stock: | 10.9% |
| Foreign Stock: | 10.1% |
| Preferred Stock: | 0.1% |
| Domestic Bond: | 28.0% |
| Foreign Bond: | 2.1% |
| Convertible Bond: | 0.0% |
| Other: | 4.0% |
| Cash: | 44.8% |
Purchase Information
| Fund Family: | SEI |
| Phone Number: | 800-342-5734 |
| Website: | www.seic.com |
| Status: | Open |
| Inception Date: | November 17, 2003 |
| Min. Initial Purchase: | $100,000 |
| 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 (%): | 0.90% ( Rating : High ) |
| Category Average Expense Ratio (%): | 0.66% |
| Share Class: | SEI Defensive Strategy F (SAAT) |
| Min. Subsequent Purchase: | $1,000 |
| Min. Subsequent IRA Purchase: | $ 0 |
