SEI Select Small Cap ETF

SEI Select Small Cap ETF (SEIS) is an actively managed fund from SEI Investments. It holds about 350 US small-company stocks, chosen by a computer model that scores factors such as value, momentum, quality and low volatility. Its 0.55% expense ratio is about double the 0.28% average of similar funds. It launched in October 2024, so its track record is short.

• Over the year to Oct 27, 2026, SEIS returned +12.9%, 9th of 9 among similar funds.
• Its worst full calendar year was 2025 (+9.8%); its best was 2025 (+9.8%).
• The deepest fall in its price history was 26.1% (Nov 25, 2024 to Apr 8, 2025), recovered by Sep 11, 2025.

As of Jun 30, 2026, the fund held 351 securities; the ten largest made up 11.83% of assets.

• Over the three months to Jun 30, 2026, investors added a net $50.7M (creations minus redemptions, per the N-PORT report).
• Monthly total returns reported for that quarter: +5.81%, +1.54%, +13.05%.

SEIS does not track an index. It puts at least 80% of its net assets into small companies. The fund defines these as companies within the market-value range of the Russell 2000 Index, a common benchmark of US small-cap stocks. As of June 30, 2026, that range ran from $50.89 million to $13.80 billion. The fund can also own some mid-size companies and stocks outside the index.

The adviser, SEI Investments Management Corporation (SIMC), runs a quantitative model, which means a set of rules applied by computer. The model scores every small company on "factors": value (cheap shares), momentum (rising prices), quality (healthy finances) and low volatility (steadier prices). SIMC can tilt toward some factors, and it can add or drop factors as its research changes. It also gets model portfolios from one or more outside sub-advisers. However, SIMC alone decides what the fund owns and in what amounts, and it can ignore the sub-advisers' lists entirely.

The result is a widely spread portfolio. As of June 30, 2026, it held 351 stocks, and the 10 largest made up just 11.8% of assets. The fund does not rebalance on a fixed calendar. Instead, SIMC adjusts holdings to reflect its views or to manage risk. Trading is heavy: portfolio turnover was 98%, meaning the fund traded close to its full value in a year. That can add trading costs that are not included in the expense ratio.

• SEIS charges 0.55% a year, versus an average of 0.28% for the similar funds below (8th of 9, cheapest first).
• Using the prospectus's standard example, $10,000 invested would cost about $56 in the first year and $689 over 10 years (assuming a 5% annual return).

An actively managed, higher-cost small-cap fund with a short record is better suited to a smaller slice beside a broad core holding than to being the core itself.

SEIS adds smaller US companies, which can move differently from the large stocks that dominate most portfolios. Its history is short. It launched in October 2024, so it did not exist during the 2008, 2020 or 2022 sell-offs. Its only full calendar year, 2025, returned 9.8%. Even so, it fell 26.1% between November 25, 2024 and April 8, 2025, and took about five months to recover, by September 11, 2025. Anyone forced to sell near that low would have locked in a loss. Income is small: the trailing yield was 0.28% as of October 27, 2026, paid quarterly. Costs are high for the category at 0.55% a year. In the SEC's standard example, that comes to $689 over 10 years on $10,000. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.

Matched by holdings overlap from the latest N-PORT reports.