Investment objective & strategy
As of Jan. 28, 2026 · prospectusObjective. Total return exceeding the rate of inflation.
Strategy. The Real Return Fund seeks to produce a return similar to that of the Bloomberg 1-5 Year U.S. Treasury Inflation-Protected Securities (TIPS) Index, which is the Fund's benchmark index. Under normal circumstances, the Fund will invest a significant portion of its assets in investment grade fixed income securities, including inflation-indexed bonds of varying maturities issued by the U.S. Treasury, other U.S. Government agencies and instrumentalities. An inflation-indexed bond is a bond that is structured so that its principal value will change with inflation. TIPS are a type of inflation-indexed bond in which the Fund may invest. The Fund's exposure to fixed income securities is not restricted by maturity requirements. The Fund may also invest in securities issued or guaranteed by … The Real Return Fund seeks to produce a return similar to that of the Bloomberg 1-5 Year U.S. Treasury Inflation-Protected Securities (TIPS) Index, which is the Fund's benchmark index. Under normal circumstances, the Fund will invest a significant portion of its assets in investment grade fixed income securities, including inflation-indexed bonds of varying maturities issued by the U.S. Treasury, other U.S. Government agencies and instrumentalities. An inflation-indexed bond is a bond that is structured so that its principal value will change with inflation. TIPS are a type of inflation-indexed bond in which the Fund may invest. The Fund's exposure to fixed income securities is not restricted by maturity requirements. The Fund may also invest in securities issued or guaranteed by the U.S. Government and its agencies and instrumentalities and obligations of U.S. and foreign commercial banks, such as time deposits, U.S. and foreign corporate debt including commercial paper; and securitized issues, such as mortgage-backed securities issued by U.S. Government agencies. Although the Real Return Fund is able to use a multi-manager approach under the general supervision of SEI Investments Management Corporation (SIMC or the Adviser) whereby Fund assets would be allocated among multiple sub-advisers (each, a Sub-Adviser and collectively, the Sub-Advisers), the Fund's assets currently are managed directly by SIMC.
Top holdings
As of March 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| U.S. Treasury Inflation-Linked Notes | TII | $26.12M | 6.75% |
| U.S. Treasury Notes | TII | $25.97M | 6.72% |
| U.S. Treasury Inflation-Protected Indexed Notes | TII | $24.82M | 6.42% |
| U.S. Treasury Notes | TII | $23.93M | 6.19% |
| U.S. TREASURY INFLATION-PROTECTED SECURITIES 2.375% 10/15/2028 | TII | $23.83M | 6.16% |
| U.S. TREASURY INFLATION-PROTECTED SECURITIES 1-5/8% 10/15/27 | TII | $23.00M | 5.95% |
| U.S. TREASURY INFLATION-PROTECTED SECURITIES 0-1/8% 04/15/2027 | TII | $22.46M | 5.81% |
| U.S. TREASURY INFLATION-PROTECTED SECURITIES 1.250 04/15/2028 | TII | $22.41M | 5.79% |
| U.S. TREASURY INFLATION-PROTECTED SECURITIES 0-1/8% 01/15/2031 | TII | $22.18M | 5.73% |
| U.S. TREASURY INFLATION-PROTECTED SECURITIES .125 07/15/2030 | TII | $21.77M | 5.63% |
Portfolio moves
Dec 31, 2025 → Mar 31, 2026How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| SIIT REAL RETURN FUND · RRPAX | 99% | 0.29% |
| Invesco Short Duration Inflation Protected Fund · SHTIX, LMTAX, ALMIX, LMTYX | 92% | 0.30% |
| T. Rowe Price U.S. Limited Duration TIPS Index Fund · TLDZX, TLDTX, TLDUX | 84% | 0.00% |
Footnotes
- Expense ratio as of January 28, 2026, from the fund's prospectus.
- Net assets and holdings count as of March 31, 2026, from the fund's N-PORT filing.
- Total return for calendar year 2025, before tax and after fund expenses. As reported in the fund's prospectus performance bar chart.
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