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SEI Multi-Asset Real Return A (SIIT) Overview

SEI Multi-Asset Real Return A (SIIT) (SEIAX) is an actively managed Taxable Bond Inflation-Protected Bond fund. SEI launched the fund in 2011.

The investment seeks total return exceeding the rate of inflation. Under normal circumstances, the fund will pursue its investment goal by selecting investments from a broad range of asset classes, including fixed income and equity securities and commodity linked instruments. It seeks "real return" (i.e., total returns that exceed the rate of inflation over a full market cycle, regardless of market conditions). The fund may invest in U.S. and non-U.S. dollar-denominated securities.

About SEI Multi-Asset Real Return A (SIIT) (SEIAX)

There are 7 members of the management team with an average tenure of 5.10 years: Christopher Floyd (2022), Matthew Sheridan (2025), Michael Canter (2019), Steven Treftz (2012), Anthony Karaminas (2021), Jose Maldonado (2022), Serena Zhou (2024). Management tenure is more important for actively managed funds than passive index funds.

The fund has 4 primary benchmarks: Bloomberg US Agg Bond TR USD index with a weighting of 100%, Bloomberg U.S. Treasury TIPS 1-5Y TR USD index with a weighting of 70%, S&P 500 (TR) (1970) index with a weighting of 10% and Bloomberg Commodity TR USD index with a weighting of 20%. SEI Multi-Asset Real Return A (SIIT) has 330 securities in its portfolio. The top 10 holdings constitute 77.5% 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 Multi-Asset Real Return A (SIIT) is part of the Fixed Income global asset class and is within the Taxable Bond fund group. SEI Multi-Asset Real Return A (SIIT) has 5.1% 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 0.1% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 74.9% (69.9% domestic bond, 5.1% foreign bond and 0.0% convertible bond). SEI Multi-Asset Real Return A (SIIT) has 1.0% of the portfolio in cash.

Assets Under Management

The fund has $894 million in total assets, which is above the $882 million average for the Inflation-Protected 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.

SEIAX 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 Multi-Asset Real Return A (SIIT) expense ratio is average compared to funds in the Inflation-Protected Bond category. SEI Multi-Asset Real Return A (SIIT) has an expense ratio of 0.59%, which is 19% lower than its category average, making the fund expense ratio grade a C. 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 Multi-Asset Real Return A (SIIT) has a portfolio turnover rate of 55%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 73% for the Inflation-Protected Bond category.

Recently, in the month of August 2026, SEI Multi-Asset Real Return A (SIIT) returned 2.2%, which earned it a grade of A, as the Inflation-Protected Bond category had an average return of 0.2%. 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 Multi-Asset Real Return A (SIIT) has a trailing yield of 2.63%, which is below the 4.18% category average. The fund normally distributes its income 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 Multi-Asset Real Return A (SIIT) Grades

Year to date, the fund has returned 11.5%, 11.0 percentage points better than the category, which translates into a grade of A. The fund has returned 13.8% over the past year (grade of A), 8.4% over the past three years (grade of A) and 6.9% per year over the past five years (grade of A) and 4.7% per year over the past 10 years (grade of A).

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