EINFX vs. ELFNX

Last updated Jun 5, 2026

EINFX (Elfun Income Fund) and ELFNX (Elfun Trusts) are both mutual funds - EINFX is a Intermediate Core-Plus Bond fund managed by State Street, while ELFNX is a Large Cap Growth Equities fund managed by State Street. Over the past 10 years, EINFX returned 1.34%/yr vs 16.45%/yr for ELFNX. At a 0.02 correlation, their price movements are largely independent. EINFX charges 0.29%/yr vs 0.18%/yr for ELFNX.

Performance

EINFX vs. ELFNX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Elfun Income Fund (EINFX) and Elfun Trusts (ELFNX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EINFX achieves a -0.17% return, which is significantly lower than ELFNX's 6.19% return. Over the past 10 years, EINFX has underperformed ELFNX with an annualized return of 1.34%, while ELFNX has yielded a comparatively higher 16.45% annualized return.

EINFX

• 1D: -0.21%
• 1M: 0.05%
• YTD: -0.17%
• 6M: -0.05%
• 1Y: 4.22%
• 3Y*: 2.91%
• 5Y*: -0.73%
• 10Y*: 1.34%

ELFNX

• 1D: -0.71%
• 1M: 2.78%
• YTD: 6.19%
• 6M: 6.10%
• 1Y: 23.16%
• 3Y*: 22.18%
• 5Y*: 13.01%
• 10Y*: 16.45%

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

EINFX vs. ELFNX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EINFX Elfun Income Fund	-0.17%	7.35%	-0.73%	4.75%	-13.82%	-1.57%	7.81%	9.51%	-0.86%	3.91%
ELFNX Elfun Trusts	6.19%	16.64%	26.91%	34.50%	-19.91%	24.46%	25.18%	35.57%	-3.25%	25.60%

Correlation

The correlation between EINFX and ELFNX is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.20
Correlation (3Y) Calculated over the trailing 3-year period	0.17
Correlation (5Y) Calculated over the trailing 5-year period	0.13
Correlation (10Y) Calculated over the trailing 10-year period	0.03
Correlation (All Time) Calculated using the full available price history since Jan 3, 1984	0.02

The correlation between EINFX and ELFNX shifts across timeframes, from 0.02 (all time) to 0.20 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

EINFX vs. ELFNX — Risk / Return Rank

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

EINFX

EINFX Risk / Return Rank: 16
EINFX Sharpe Ratio Rank: 17
EINFX Sortino Ratio Rank: 17
EINFX Omega Ratio Rank: 16
EINFX Calmar Ratio Rank: 17
EINFX Martin Ratio Rank: 16

ELFNX

ELFNX Risk / Return Rank: 38
ELFNX Sharpe Ratio Rank: 42
ELFNX Sortino Ratio Rank: 39
ELFNX Omega Ratio Rank: 39
ELFNX Calmar Ratio Rank: 31
ELFNX Martin Ratio Rank: 39

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.

EINFX vs. ELFNX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Elfun Income Fund (EINFX) and Elfun Trusts (ELFNX). 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.

	EINFX	ELFNX	Difference
Sharpe ratio: Return per unit of total volatility	1.15	1.89	-0.74
Sortino ratio: Return per unit of downside risk	1.74	2.60	-0.87
Omega ratio: Gain probability vs. loss probability	1.20	1.33	-0.13
Calmar ratio: Return relative to maximum drawdown	1.44	2.07	-0.63
Martin ratio: Return relative to average drawdown	4.32	8.48	-4.16
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EINFX vs. ELFNX - Sharpe Ratio Comparison

The current EINFX Sharpe Ratio is 1.15, which is lower than the ELFNX Sharpe Ratio of 1.89. The chart below compares the historical Sharpe Ratios of EINFX and ELFNX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	EINFX	ELFNX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.15	1.89	-0.74
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.11	0.73	-0.84
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.26	0.90	-0.64
Sharpe Ratio (All Time) Calculated using the full available price history	0.79	0.59	+0.19

Drawdowns

EINFX vs. ELFNX - Drawdown Comparison

The maximum EINFX drawdown since its inception was -19.78%, smaller than the maximum ELFNX drawdown of -50.28%. Use the drawdown chart below to compare losses from any high point for EINFX and ELFNX.

Drawdown Indicators

	EINFX	ELFNX	Difference
Max Drawdown Largest peak-to-trough decline	-19.78%	-50.28%	+30.50%
Max Drawdown (1Y) Largest decline over 1 year	-3.40%	-11.40%	+8.00%
Max Drawdown (3Y) Largest decline over 3 years	-8.10%	-19.58%	+11.48%
Max Drawdown (5Y) Largest decline over 5 years	-19.78%	-26.39%	+6.61%
Max Drawdown (10Y) Largest decline over 10 years	-19.78%	-32.44%	+12.66%
Current Drawdown Current decline from peak	-5.45%	-1.10%	-4.35%
Average Drawdown Average peak-to-trough decline	-3.57%	-7.63%	+4.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.13%	2.79%	-1.66%

Volatility

EINFX vs. ELFNX - Volatility Comparison

The current volatility for Elfun Income Fund (EINFX) is 1.46%, while Elfun Trusts (ELFNX) has a volatility of 2.98%. This indicates that EINFX experiences smaller price fluctuations and is considered to be less risky than ELFNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EINFX	ELFNX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.46%	2.98%	-1.52%
Volatility (6M) Calculated over the trailing 6-month period	2.93%	9.48%	-6.55%
Volatility (1Y) Calculated over the trailing 1-year period	4.24%	12.51%	-8.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.50%	17.90%	-11.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.23%	18.37%	-13.14%

EINFX vs. ELFNX - Expense Ratio Comparison

EINFX has a 0.29% expense ratio, which is higher than ELFNX's 0.18% expense ratio.

Dividends

EINFX vs. ELFNX - Dividend Comparison

EINFX's dividend yield for the trailing twelve months is around 3.86%, less than ELFNX's 9.29% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EINFX Elfun Income Fund	3.86%	3.84%	3.04%	2.76%	4.09%	3.31%	3.15%	2.78%	2.88%	2.42%	3.34%	2.87%
ELFNX Elfun Trusts	9.29%	9.87%	10.43%	2.90%	9.01%	11.62%	8.60%	9.39%	16.18%	10.80%	8.85%	8.22%

Frequently Asked Questions

Can I hold both EINFX and ELFNX in my portfolio?

EINFX and ELFNX have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EINFX or ELFNX?

ELFNX has higher volatility (2.98%) compared to EINFX (1.46%). In terms of maximum drawdown, EINFX dropped -19.78% vs ELFNX's -50.28%.

Which has better risk-adjusted returns?

ELFNX currently has the higher Sharpe Ratio (1.89 vs 1.15), 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.