BBSOX vs. ENIAX

Last updated Aug 1, 2026

BBSOX (BlackRock Short Obligations Fund) and ENIAX (SEI Institutional Investments Trust Opportunistic Income Fund) are both Ultrashort Bond funds. Over the past 10 years, BBSOX returned 2.47%/yr vs 4.18%/yr for ENIAX. Their 0.11 correlation means their historical movements had little consistent relationship. BBSOX charges 0.30%/yr vs 0.23%/yr for ENIAX.

Performance

BBSOX vs. ENIAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BlackRock Short Obligations Fund (BBSOX) and SEI Institutional Investments Trust Opportunistic Income Fund (ENIAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BBSOX achieves a 1.72% return, which is significantly lower than ENIAX's 2.27% return. Over the past 10 years, BBSOX has underperformed ENIAX with an annualized return of 2.47%, while ENIAX has yielded a comparatively higher 4.18% annualized return.

BBSOX

• 1D: 0.00%
• 1M: 0.00%
• 6M: 1.37%
• YTD: 1.72%
• 1Y: 3.60%
• 3Y*: 4.68%
• 5Y*: 3.31%
• 10Y*: 2.47%
• ALL TIME*: 2.00%

ENIAX

• 1D: 0.00%
• 1M: 0.36%
• 6M: 2.01%
• YTD: 2.27%
• 1Y: 4.66%
• 3Y*: 6.32%
• 5Y*: 4.80%
• 10Y*: 4.18%
• ALL TIME*: 1.87%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BBSOX BlackRock Short Obligations Fund	$0.00	$0.00	$0.00
ENIAX SEI Institutional Investments Trust Opportunistic Income Fund	$0.00	$0.00	$0.00

BBSOX vs. ENIAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BBSOX BlackRock Short Obligations Fund	1.72%	4.74%	5.36%	4.36%	0.60%	-0.10%	1.54%	3.01%	1.96%	1.18%
ENIAX SEI Institutional Investments Trust Opportunistic Income Fund	2.27%	6.14%	8.34%	7.94%	-1.16%	2.67%	2.47%	5.82%	1.82%	3.93%

Correlation

The correlation between BBSOX and ENIAX is 0.11, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.11
Correlation (3Y) Balances recent behavior with more history.	0.10
Correlation (5Y) Shows whether the relationship held over a longer period.	0.14
Correlation (10Y) Provides a long-term view across more market conditions.	0.12
Correlation (All Time) Calculated using the full available price history since Jan 2, 2013	0.11

Return for Risk

BBSOX vs. ENIAX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

BBSOX

BBSOX Risk / Return Rank: 99
BBSOX Sharpe Ratio Rank: 98
BBSOX Sortino Ratio Rank: 100
BBSOX Omega Ratio Rank: 99
BBSOX Calmar Ratio Rank: 100
BBSOX Martin Ratio Rank: 99

ENIAX

ENIAX Risk / Return Rank: 100
ENIAX Sharpe Ratio Rank: 100
ENIAX Sortino Ratio Rank: 100
ENIAX Omega Ratio Rank: 100
ENIAX Calmar Ratio Rank: 99
ENIAX Martin Ratio Rank: 100

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

BBSOX vs. ENIAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BlackRock Short Obligations Fund (BBSOX) and SEI Institutional Investments Trust Opportunistic Income Fund (ENIAX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	BBSOX	ENIAX	Difference
Sharpe ratio: Return per unit of total volatility	3.17	5.17	-2.00
Sortino ratio: Return per unit of downside risk	10.87	10.86	+0.02
Omega ratio: Gain probability vs. loss probability	3.90	4.13	-0.23
Calmar ratio: Return relative to maximum drawdown	20.77	12.85	+7.92
Martin ratio: Return relative to average drawdown	65.78	79.51	-13.73

BBSOX vs. ENIAX - Sharpe Ratio Comparison

The current BBSOX Sharpe Ratio is 3.17, which is lower than the ENIAX Sharpe Ratio of 5.17. The chart below compares the historical Sharpe Ratios of BBSOX and ENIAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BBSOX vs. ENIAX - Drawdown Comparison

The maximum BBSOX drawdown since its inception was -1.59%, smaller than the maximum ENIAX drawdown of -33.30%. Use the drawdown chart below to compare losses from any high point for BBSOX and ENIAX.

Drawdown Indicators

	BBSOX	ENIAX	Difference
Max Drawdown Largest peak-to-trough decline	-1.59%	-33.30%	+31.71%
Max Drawdown (1Y) Largest decline over 1 year	-0.20%	-0.37%	+0.17%
Max Drawdown (3Y) Largest decline over 3 years	-0.30%	-2.11%	+1.81%
Max Drawdown (5Y) Largest decline over 5 years	-1.00%	-3.52%	+2.52%
Max Drawdown (10Y) Largest decline over 10 years	-1.59%	-13.45%	+11.86%
Current Drawdown Current decline from peak	-0.10%	0.00%	-0.10%
Average Drawdown Average peak-to-trough decline	-0.08%	-7.72%	+7.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.06%	0.06%	0.00%

Volatility

BBSOX vs. ENIAX - Volatility Comparison

The current volatility for BlackRock Short Obligations Fund (BBSOX) is 0.14%, while SEI Institutional Investments Trust Opportunistic Income Fund (ENIAX) has a volatility of 0.22%. This indicates that BBSOX experiences smaller price fluctuations and is considered to be less risky than ENIAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BBSOX	ENIAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.14%	0.22%	-0.08%
Volatility (6M) Calculated over the trailing 6-month period	0.91%	0.69%	+0.22%
Volatility (1Y) Calculated over the trailing 1-year period	1.30%	0.93%	+0.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.27%	2.86%	-1.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.03%	2.78%	-1.75%

BBSOX vs. ENIAX - Expense Ratio Comparison

BBSOX has a 0.30% expense ratio, which is higher than ENIAX's 0.23% expense ratio.

Dividends

BBSOX vs. ENIAX - Dividend Comparison

BBSOX's dividend yield for the trailing twelve months is around 3.83%, less than ENIAX's 6.13% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BBSOX BlackRock Short Obligations Fund	3.83%	4.43%	5.01%	3.35%	1.29%	0.30%	1.13%	2.56%	2.24%	1.17%	1.03%	0.62%
ENIAX SEI Institutional Investments Trust Opportunistic Income Fund	6.13%	6.00%	6.78%	5.33%	4.07%	2.66%	2.96%	4.32%	3.96%	3.02%	2.75%	2.54%

Frequently Asked Questions

Can I hold both BBSOX and ENIAX in my portfolio?

BBSOX and ENIAX have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BBSOX or ENIAX?

ENIAX has higher volatility (0.22%) compared to BBSOX (0.14%). In terms of maximum drawdown, BBSOX dropped -1.59% vs ENIAX's -33.30%.

Which has better risk-adjusted returns?

ENIAX currently has the higher Sharpe Ratio (5.17 vs 3.17), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.