Tax-Free Conservative Competition

TFCAX Fund

USD 10.00 0.02 0.20%

The fund is listed under the High Yield Muni category and is part of the SEI family. The entity is thematically classified as Conservative Funds. CHARTWELL SHORT, PIONEER HIGH, DREYFUS HIGH, AMERICAN BEACON, and Delaware National and other firms are used as comparison peers for Tax Free Conservative Income. Price-to-sales ratios across Tax-Free Conservative's competitors show which names the market values most per dollar of revenue.

Tax-Free Conservative and American Century Correlation Summary

Moderate diversification

For the present investment horizon, the measured correlation between Tax-Free Conservative and American Century stands at 0.31, or Moderate diversification. Lower overlap tends to improve diversification, while higher overlap means both positions carry similar risk.

Moving together with Tax-Free Mutual Fund

0.73

STDAX

Saat Defensive Strategy

Pair Corr

Moving Against Tax-Free Mutual Fund

0.73	SBDAX	Stet California Municipal	Pair Corr
0.66	SENYX	Stet New York	Pair Corr
0.66	SEPAX	Stet Pennsylvania	Pair Corr
0.65	SEFIX	Sit International Fixed	Pair Corr
0.64	SIFIX	Sit International Fixed	Pair Corr

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Experienced market participants anticipate that Tax-Free Conservative's price will even out over time. Periods when Tax-Free Conservative's deviates significantly from its historical mean may warrant further fundamental analysis.

Sentiment

Range

Low	Sentiment	High
9.96	10.00	10.04

Details

Intrinsic

Valuation

Low	Intrinsic	High
9.95	9.99	10.03

Details

Naive

Forecast

Low	Next	High
9.96	10.01	10.05

Details

Bollinger

Band Projection (param)

Lower	Middle Band	Upper
9.97	9.98	10.00

Details

Competitive analysis for Tax-Free Conservative compares its financial performance and valuation metrics against sector peers. Cross-sectional comparison separates idiosyncratic performance from sector-level dynamics.

Tax-Free Conservative Competition Correlation Matrix

Studying peer correlation around Tax Free Conservative Income provides a cleaner read on how much independent price behavior still exists across the competitive set. The business currently sits in the Muni National Short sector and the Large industry. In practical terms, lower correlation may offer better diversification while higher correlation may leave the portfolio more exposed to one shared driver.

	CWFIX	PYICX	DHYCX	SHYPX	CXHYX	ACHFX
CWFIX		0.92	0.81	0.9	0.74	0.91	CWFIX
PYICX	0.92		0.85	0.88	0.79	0.94	PYICX
DHYCX	0.81	0.85		0.83	0.86	0.83	DHYCX
SHYPX	0.9	0.88	0.83		0.74	0.96	SHYPX
CXHYX	0.74	0.79	0.86	0.74		0.76	CXHYX
ACHFX	0.91	0.94	0.83	0.96	0.76		ACHFX
	CWFIX	PYICX	DHYCX	SHYPX	CXHYX	ACHFX

Risk-Adjusted Indicators

Strong recent returns in Tax-Free Mutual Fund do not always mean Tax-Free Conservative Mutual Fund is outperforming peers on business quality. Risk-adjusted metrics help compare Tax-Free Conservative's efficiency and downside exposure against peers on a like-for-like basis. These indicators are quantitative in nature and measure volatility and risk-adjusted expected returns across different positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
CWFIX	0.10	-0.01	-0.09	-0.07	0.11	-0.16	0.21	-0.21	0.73
PYICX	0.19	-0.01	-0.05	-0.03	0.22	-0.24	0.34	-0.44	1.69
DHYCX	0.18	0.00	-0.01	0.05	0.26	-0.19	0.37	-0.38	1.31
SHYPX	0.16	0.01	0.00	0.06	0.08	-0.21	0.32	-0.32	0.97
CXHYX	0.18	0.00	-0.02	-0.15	0.22	-0.23	0.42	-0.42	1.35
ACHFX	0.19	0.00	-0.02	0.03	0.15	-0.27	0.35	-0.35	1.29

Tax-Free Conservative Competitive Analysis

Better Than Average

Worse Than Peers

View Performance Chart

	TFCAX	CWFIX	PYICX	DHYCX	SHYPX	CXHYX	ACHFX
	0.20 10.00 Tax-Free	0.10 9.57 CHARTWELL SHORT	0.22 9.06 PIONEER HIGH	0.09 10.71 DREYFUS HIGH	0.21 9.46 AMERICAN BEACON	0.31 9.73 Delaware	0.23 8.70 American Century
Market Volatility (90 Days Market Risk)	Very Low	Very Low	Very Low	Very Low	Very Low	Very Low	Very Low
Market Performance (90 Days Performance)	Constructive	Soft	Soft	Mild	Moderate	Soft	Mild
Odds of Financial Distress (Probability Of Bankruptcy)	Below Average	Below Average	Below Average	Below Average	Below Average	Below Average	Below Average
Current Valuation (Equity Enterprise Value)	Aligned With Model	Aligned With Model	Aligned With Model	Aligned With Model	Aligned With Model	Aligned With Model	Aligned With Model
Buy or Sell Analysis (Average Analysts Consensus)	Not Available	Not Available	Not Available	Not Available	Not Available	Not Available	Not Available
Trade Advice (90 Days Macroaxis Advice)	Cautious Hold	Cautious Hold	Cautious Hold	Cautious Hold	Cautious Hold	Sell	Cautious Hold
Net Asset	200.05 M	316.61 M	459.93 M	168.95 M	2.18 B	2.84 B	828.24 M
Price To Sales TTM	N/A	N/A	0.62 X	N/A	2.66 X	N/A	N/A
Minimum Initial Investment	100 K	1 K	N/A	N/A	N/A	N/A	N/A
Price To Book TTM	N/A	N/A	1.56 X	N/A	1.19 X	N/A	N/A
Five Year Return	2.09 %	3.85 %	2.79 %	-1.08 %	5.65 %	0.73 %	N/A
One Year Return	2.38 %	5.94 %	7.55 %	6.80 %	11.13 %	4.72 %	9.87 %
Last Dividend Paid	N/A	0.02	0.03	0.02	0.04	0.04	N/A
Price To Earnings TTM	N/A	N/A	4.31 X	N/A	12.61 X	N/A	N/A
Cash Position Weight	32.16 %	4.15 %	5.43 %	0.55 %	-3.99 %	0.47 %	0.11 %
Equity Positions Weight	N/A	N/A	0.38 %	N/A	3.96 %	N/A	0.40 %
Three Year Return	2.87 %	6.36 %	7.14 %	3.10 %	9.58 %	3.84 %	9.32 %
Annual Yield	0.0004 %	0.05 %	0.05 %	0.0017 %	0.06 %	0.0049 %	0.07 %
Year To Date Return	0.70 %	0.96 %	1.02 %	1.96 %	2.23 %	1.48 %	1.45 %
Bond Positions Weight	67.84 %	95.85 %	23.38 %	4.07 %	20.46 %	18.79 %	98.08 %
Ten Year Return	N/A	N/A	4.65 %	3.69 %	N/A	5.13 %	N/A
Day Typical Price	10.0	9.57	9.06	10.71	9.46	9.73	8.7
Period Momentum Indicator	0.02	0.01	0.02	-0.01	-0.02	0.03	-0.02
Rate Of Daily Change	1.0	1.0	1.0	1.0	1.0	1.0	1.0
Day Median Price	10.0	9.57	9.06	10.71	9.46	9.73	8.7
Price Action Indicator	0.01	0.005	0.01	-0.01	-0.01	0.015	-0.01
Relative Strength Index	100.0	51.15	54.94	56.05	57.71	57.7	56.4
Coefficient Of Variation	461.77	4356.14	5095.47	1658.43	1066.99	2099.23	1643.1
Mean Deviation	0.0174	0.1027	0.1885	0.1775	0.1584	0.1816	0.1891
Jensen Alpha	-0.001	-0.01	-0.01	0.0047	0.0079	0.0031	0.004
Total Risk Alpha	-0.0013	-0.01	-0.01	0.0033	0.0074	1.0E-4	0.0034
Sortino Ratio	N/A	-0.09	-0.05	-0.01	-0.002	-0.02	-0.02
Downside Variance	N/A	0.0323	0.087	0.1518	0.0393	0.1109	0.0617
Standard Deviation	0.0421	0.1424	0.275	0.2649	0.2082	0.2713	0.2639
Kurtosis	18.51	0.661	3.07	3.48	1.92	2.39	3.42
Potential Upside	N/A	0.211	0.3359	0.3717	0.3191	0.4175	0.3509
Treynor Ratio	-0.09	-0.07	-0.03	0.0455	0.0578	-0.15	0.0295
Maximum Drawdown	0.2012	0.7335	1.69	1.31	0.9697	1.35	1.29
Variance	0.0018	0.0203	0.0756	0.0702	0.0434	0.0736	0.0697
Market Risk Adjusted Performance	-0.08	-0.06	-0.02	0.0555	0.0678	-0.14	0.0395
Risk Adjusted Performance	-0.01	-0.04	-0.01	0.0317	0.0541	0.0204	0.0321
Skewness	4.47	-0.12	0.6745	-0.79	0.799	-0.17	1.01
Semi Deviation	N/A	0.1082	0.2223	0.2584	0.0808	0.2191	0.1538
Information Ratio	-0.26	-0.12	-0.05	-0.01	-0.0019	-0.03	-0.01
Value At Risk	N/A	-0.21	-0.44	-0.38	-0.32	-0.42	-0.35
Expected Short fall	N/A	-0.16	-0.24	-0.19	-0.21	-0.23	-0.27
Downside Deviation	N/A	0.1798	0.295	0.3896	0.1983	0.333	0.2485
Semi Variance	N/A	0.0117	0.0494	0.0667	0.0065	0.048	0.0237

Tax-Free Conservative Competition Peer Performance Charts

How to Analyze Tax-Free Conservative Against Peers

Tax-Free Conservative's peer analysis compares Tax-Free Conservative with related companies to put valuation, quality, and risk metrics in context. This establishes whether recent performance is company-specific or broadly sector-driven. A practical workflow includes:

Set a relevant peer group: Include direct competitors and close alternatives with comparable business exposure.
Benchmark core financials: Compare profitability, growth, capital structure, and cash flow quality.
Check valuation dispersion: Review whether Tax-Free Conservative trades at a premium or discount versus peers and why.
Evaluate risk profile: Compare volatility, drawdowns, and correlation to avoid false diversification assumptions.
Document the thesis: Record where Tax-Free Conservative leads or lags and what catalysts could close or widen the gap.

Use this as an educational baseline, then validate conclusions with current filings, market conditions, and portfolio objectives.

Peer Comparison Metrics & Methodology

Operating expenses at Tax-Free Conservative as a share of revenue sit below the peer group midpoint, signaling tighter cost control. Relative comparison helps show where Tax-Free Conservative is stronger or weaker against peers.

Tax Free Conservative Income figures are aggregated from fund disclosures and market reference feeds and normalized across reporting formats.

Editorial review and methodology oversight provided by: Ellen Johnson, Member of Macroaxis Editorial Board