CMI vs. EIRRX

Last updated Jul 11, 2026

CMI (Cummins Inc.) is a stock, while EIRRX (Eaton Vance Short Duration Inflation-Protected Income Fund) is Inflation-Protected Bonds fund managed by Eaton Vance. Over the past 10 years, CMI returned 22.08%/yr vs 3.72%/yr for EIRRX. At a 0.11 correlation, their price movements are largely independent.

Performance

CMI vs. EIRRX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Cummins Inc. (CMI) and Eaton Vance Short Duration Inflation-Protected Income Fund (EIRRX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CMI achieves a 33.28% return, which is significantly higher than EIRRX's 1.27% return. Over the past 10 years, CMI has outperformed EIRRX with an annualized return of 22.08%, while EIRRX has yielded a comparatively lower 3.72% annualized return.

CMI

• 1D: 0.38%
• 1M: 2.48%
• 6M: 23.23%
• YTD: 33.28%
• 1Y: 102.70%
• 3Y*: 41.10%
• 5Y*: 25.64%
• 10Y*: 22.08%

EIRRX

• 1D: 0.00%
• 1M: -0.08%
• 6M: 1.07%
• YTD: 1.27%
• 1Y: 2.73%
• 3Y*: 5.12%
• 5Y*: 3.55%
• 10Y*: 3.72%

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

CMI vs. EIRRX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CMI Cummins Inc.	33.28%	49.36%	48.92%	1.72%	14.09%	-1.68%	30.50%	38.04%	-22.06%	32.74%
EIRRX Eaton Vance Short Duration Inflation-Protected Income Fund	1.27%	4.63%	5.65%	6.33%	-3.08%	7.84%	5.25%	5.60%	-0.15%	1.94%

Correlation

The correlation between CMI and EIRRX is 0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.08
Correlation (3Y) Calculated over the trailing 3-year period	0.06
Correlation (5Y) Calculated over the trailing 5-year period	0.09
Correlation (10Y) Calculated over the trailing 10-year period	0.11
Correlation (All Time) Calculated using the full available price history since Aug 3, 2012	0.11

Return for Risk

CMI vs. EIRRX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CMI

CMI Risk / Return Rank: 96
CMI Sharpe Ratio Rank: 96
CMI Sortino Ratio Rank: 94
CMI Omega Ratio Rank: 94
CMI Calmar Ratio Rank: 96
CMI Martin Ratio Rank: 98

EIRRX

EIRRX Risk / Return Rank: 72
EIRRX Sharpe Ratio Rank: 60
EIRRX Sortino Ratio Rank: 67
EIRRX Omega Ratio Rank: 77
EIRRX Calmar Ratio Rank: 85
EIRRX Martin Ratio Rank: 72

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CMI vs. EIRRX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Cummins Inc. (CMI) and Eaton Vance Short Duration Inflation-Protected Income Fund (EIRRX). 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.

	CMI	EIRRX	Difference
Sharpe ratio: Return per unit of total volatility	2.89	1.72	+1.17
Sortino ratio: Return per unit of downside risk	3.32	2.57	+0.75
Omega ratio: Gain probability vs. loss probability	1.45	1.38	+0.07
Calmar ratio: Return relative to maximum drawdown	6.73	3.21	+3.53
Martin ratio: Return relative to average drawdown	22.64	10.45	+12.19

CMI vs. EIRRX - Sharpe Ratio Comparison

The current CMI Sharpe Ratio is 2.89, which is higher than the EIRRX Sharpe Ratio of 1.72. The chart below compares the historical Sharpe Ratios of CMI and EIRRX, 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

CMI vs. EIRRX - Drawdown Comparison

The maximum CMI drawdown since its inception was -75.66%, which is greater than EIRRX's maximum drawdown of -10.27%. Use the drawdown chart below to compare losses from any high point for CMI and EIRRX.

Drawdown Indicators

	CMI	EIRRX	Difference
Max Drawdown Largest peak-to-trough decline	-75.66%	-10.27%	-65.39%
Max Drawdown (1Y) Largest decline over 1 year	-15.23%	-0.89%	-14.34%
Max Drawdown (3Y) Largest decline over 3 years	-30.48%	-1.67%	-28.81%
Max Drawdown (5Y) Largest decline over 5 years	-30.48%	-6.22%	-24.26%
Max Drawdown (10Y) Largest decline over 10 years	-44.05%	-10.27%	-33.78%
Current Drawdown Current decline from peak	-7.10%	-0.47%	-6.63%
Average Drawdown Average peak-to-trough decline	-22.19%	-0.99%	-21.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.52%	0.27%	+4.25%

Volatility

CMI vs. EIRRX - Volatility Comparison

Cummins Inc. (CMI) has a higher volatility of 14.54% compared to Eaton Vance Short Duration Inflation-Protected Income Fund (EIRRX) at 0.67%. This indicates that CMI's price experiences larger fluctuations and is considered to be riskier than EIRRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CMI	EIRRX	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.54%	0.67%	+13.87%
Volatility (6M) Calculated over the trailing 6-month period	30.13%	1.32%	+28.81%
Volatility (1Y) Calculated over the trailing 1-year period	35.47%	1.65%	+33.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.59%	2.84%	+25.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.40%	2.77%	+25.63%

Dividends

CMI vs. EIRRX - Dividend Comparison

CMI's dividend yield for the trailing twelve months is around 1.18%, less than EIRRX's 5.28% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CMI Cummins Inc.	1.18%	1.50%	2.01%	2.71%	2.49%	2.57%	2.33%	2.74%	3.32%	2.38%	2.93%	3.99%
EIRRX Eaton Vance Short Duration Inflation-Protected Income Fund	5.28%	3.57%	4.08%	4.50%	5.07%	3.54%	2.21%	2.66%	2.91%	2.13%	2.24%	2.05%

Frequently Asked Questions

Can I hold both CMI and EIRRX in my portfolio?

CMI and EIRRX have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CMI or EIRRX?

CMI has higher volatility (14.54%) compared to EIRRX (0.67%). In terms of maximum drawdown, CMI dropped -75.66% vs EIRRX's -10.27%.

Which has better risk-adjusted returns?

CMI currently has the higher Sharpe Ratio (2.89 vs 1.72), 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.