Fund Evaluator:
SEI Moderate Strategy I (SAAT) (SMSIX)
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Fund Details
SEI Moderate Strategy I (SAAT) Overview
SEI Moderate Strategy I (SAAT) (SMSIX) is an actively managed Allocation Global Moderately Conservative Allocation fund. SEI launched the fund in 2003.
The investment seeks capital appreciation, while managing the risk of loss. 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.
About SEI Moderate Strategy I (SAAT) (SMSIX)
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 35%, Bloomberg US Agg Bond TR USD index with a weighting of 30%, Russell 3000 TR USD index with a weighting of 20% and MSCI ACWI Ex USA NR USD index with a weighting of 15%. SEI Moderate Strategy I (SAAT) has 16 securities in its portfolio. The top 10 holdings constitute 82.6% 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 Moderate Strategy I (SAAT) is part of the Allocation global asset class and is within the Allocation fund group. SEI Moderate Strategy I (SAAT) has 37.5% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 29.8%. There is 30.8% allocated to foreign stock, and 0.1% is allocated to preferred stocks. The bond allocation as a percentage of total assets is -11.3% (-18.0% domestic bond, 6.7% foreign bond and 0.0% convertible bond). SEI Moderate Strategy I (SAAT) has 48.4% of the portfolio in cash.
Assets Under Management
The fund has $2 million in total assets, which is below the $304 million average for the Global Moderately Conservative Allocation 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.
SMSIX 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 Moderate Strategy I (SAAT) expense ratio is high compared to funds in the Global Moderately Conservative Allocation category. SEI Moderate Strategy I (SAAT) has an expense ratio of 1.15%, which is 17% 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 Moderate Strategy I (SAAT) has a portfolio turnover rate of 19%, indicating that holds its assets around 0.1 years. By way of comparison, the average portfolio turnover is 50% for the Global Moderately Conservative Allocation category.
Recently, in the month of July 2026, SEI Moderate Strategy I (SAAT) returned 0.8%, which earned it a grade of A, as the Global Moderately Conservative Allocation 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 Moderate Strategy I (SAAT) has a trailing yield of 2.77%, which is below the 3.07% 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 Moderate Strategy I (SAAT) Grades
Year to date, the fund has returned 4.8%, 0.3 percentage points worse than the category, which translates into a grade of C. The fund has returned 10.0% over the past year (grade of D), 8.1% over the past three years (grade of F) and 3.7% per year over the past five years (grade of D) and 4.5% per year over the past 10 years (grade of F).
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SMSIX 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 |
|
| SMSIX Return (NAV) | 0.8% | 1.5% | 10.0% | 8.1% | 3.7% | 4.5% |
| SMSIX Grade | A | C | D | F | D | F |
| +/- Category | 1.3% | -0.0% | -0.9% | -1.0% | -0.2% | -1.0% |
| Global Moderately Conservative Allocation Avg | -0.5% | 1.5% | 10.9% | 9.1% | 3.9% | 5.4% |
| SMSIX Tax Cost Ratio | na | na | 1.1% | 1.1% | 1.5% | 1.2% |
SMSIX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| SMSIX Return (NAV) | 4.8% | 11.2% | 6.1% | 6.5% | -9.8% | 7.2% | 3.4% | 13.7% | -3.9% | 8.3% | 6.2% |
| SMSIX Grade | C | D | D | F | A | D | F | F | B | F | B |
| +/- Category | -0.3% | -0.4% | -1.2% | -3.9% | 3.7% | -0.4% | -5.5% | -1.4% | 1.0% | -2.4% | 0.1% |
| Global Moderately Conservative Allocation Avg | 5.1% | 11.6% | 7.3% | 10.4% | -13.5% | 7.5% | 8.9% | 15.0% | -4.8% | 10.7% | 6.1% |
| Risk Measures | |
| Standard Deviation: | 5.5% |
| Total Risk Index: | 0.45 - Low |
| Category Risk Index: | 0.75 - Low |
| Category Risk Grade: | A (1% Rank) |
| Beta: | 0.56 |
| R-Squared: | 89% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Blend |
| Bond Investment Style: | na |
| Yield: | 2.8% |
| Dividend Distribution: | Quarterly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $76 Mil |
| Fund Total Assets: | $ 3 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 19% |
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: | 16 |
| % in Top 10 Holdings: | 82.6% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 37.5% |
Portfolio Allocation |
|
| Domestic Stock: | 29.8% |
| Foreign Stock: | 30.8% |
| Preferred Stock: | 0.1% |
| Domestic Bond: | -18.0% |
| Foreign Bond: | 6.7% |
| Convertible Bond: | 0.0% |
| Other: | 2.1% |
| Cash: | 48.4% |
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 (%): | 1.15% ( Rating : High ) |
| Category Average Expense Ratio (%): | 0.98% |
| Share Class: | SEI Moderate Strategy F (SAAT) |
| Min. Subsequent Purchase: | $1,000 |
| Min. Subsequent IRA Purchase: | $ 0 |
