EIRRX vs. JCPI

Last updated Jun 4, 2026

EIRRX (Eaton Vance Short Duration Inflation-Protected Income Fund) and JCPI (JPMorgan Inflation Managed Bond ETF) are both Inflation-Protected Bonds funds. Over the past 3 years, EIRRX returned 5.30%/yr vs 5.32%/yr for JCPI. A 0.71 correlation means they provide meaningful diversification when combined. EIRRX charges 0.64%/yr vs 0.25%/yr for JCPI.

Performance

EIRRX vs. JCPI - Performance Comparison

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

Returns By Period

The year-to-date returns for both investments are quite close, with EIRRX having a 1.64% return and JCPI slightly higher at 1.72%.

EIRRX

• 1D: 0.00%
• 1M: 0.00%
• YTD: 1.64%
• 6M: 1.55%
• 1Y: 4.05%
• 3Y*: 5.30%
• 5Y*: 3.71%
• 10Y*: 3.81%

JCPI

• 1D: 0.00%
• 1M: -0.12%
• YTD: 1.72%
• 6M: 1.37%
• 1Y: 5.63%
• 3Y*: 5.32%
• 5Y*: —
• 10Y*: —

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

EIRRX vs. JCPI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
EIRRX Eaton Vance Short Duration Inflation-Protected Income Fund	1.64%	4.63%	5.65%	6.33%	-3.40%
JCPI JPMorgan Inflation Managed Bond ETF	1.72%	7.10%	4.70%	5.04%	-5.53%

Correlation

The correlation between EIRRX and JCPI is 0.63, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.63
Correlation (3Y) Calculated over the trailing 3-year period	0.67
Correlation (All Time) Calculated using the full available price history since Apr 12, 2022	0.71

The correlation between EIRRX and JCPI has been stable across timeframes, ranging from 0.63 to 0.71 - a consistent structural relationship.

Return for Risk

EIRRX vs. JCPI — Risk / Return Rank

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

EIRRX

EIRRX Risk / Return Rank: 86
EIRRX Sharpe Ratio Rank: 78
EIRRX Sortino Ratio Rank: 87
EIRRX Omega Ratio Rank: 85
EIRRX Calmar Ratio Rank: 89
EIRRX Martin Ratio Rank: 91

JCPI

JCPI Risk / Return Rank: 63
JCPI Sharpe Ratio Rank: 56
JCPI Sortino Ratio Rank: 63
JCPI Omega Ratio Rank: 58
JCPI Calmar Ratio Rank: 70
JCPI Martin Ratio Rank: 66

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.

EIRRX vs. JCPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Short Duration Inflation-Protected Income Fund (EIRRX) and JPMorgan Inflation Managed Bond ETF (JCPI). 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.

	EIRRX	JCPI	Difference
Sharpe ratio Return per unit of total volatility	2.57	1.92	+0.64
Sortino ratio Return per unit of downside risk	4.17	2.99	+1.18
Omega ratio Gain probability vs. loss probability	1.58	1.36	+0.22
Calmar ratio Return relative to maximum drawdown	4.48	3.54	+0.94
Martin ratio Return relative to average drawdown	18.95	12.18	+6.77
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EIRRX vs. JCPI - Sharpe Ratio Comparison

The current EIRRX Sharpe Ratio is 2.57, which is higher than the JCPI Sharpe Ratio of 1.92. The chart below compares the historical Sharpe Ratios of EIRRX and JCPI, 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

	EIRRX	JCPI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.57	1.92	+0.64
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.31	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.38	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.12	0.68	+0.45

Drawdowns

EIRRX vs. JCPI - Drawdown Comparison

The maximum EIRRX drawdown since its inception was -10.27%, which is greater than JCPI's maximum drawdown of -7.85%. Use the drawdown chart below to compare losses from any high point for EIRRX and JCPI.

Drawdown Indicators

	EIRRX	JCPI	Difference
Max Drawdown Largest peak-to-trough decline	-10.27%	-7.85%	-2.42%
Max Drawdown (1Y) Largest decline over 1 year	-0.89%	-1.60%	+0.71%
Max Drawdown (3Y) Largest decline over 3 years	-1.67%	-2.81%	+1.14%
Max Drawdown (5Y) Largest decline over 5 years	-6.22%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-10.27%	—	—
Current Drawdown Current decline from peak	-0.10%	-0.36%	+0.26%
Average Drawdown Average peak-to-trough decline	-1.00%	-1.87%	+0.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.21%	0.46%	-0.25%

Volatility

EIRRX vs. JCPI - Volatility Comparison

The current volatility for Eaton Vance Short Duration Inflation-Protected Income Fund (EIRRX) is 0.45%, while JPMorgan Inflation Managed Bond ETF (JCPI) has a volatility of 0.86%. This indicates that EIRRX experiences smaller price fluctuations and is considered to be less risky than JCPI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EIRRX	JCPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.45%	0.86%	-0.41%
Volatility (6M) Calculated over the trailing 6-month period	1.16%	2.05%	-0.89%
Volatility (1Y) Calculated over the trailing 1-year period	1.55%	2.95%	-1.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.84%	4.50%	-1.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.76%	4.50%	-1.74%

EIRRX vs. JCPI - Expense Ratio Comparison

EIRRX has a 0.64% expense ratio, which is higher than JCPI's 0.25% expense ratio.

Dividends

EIRRX vs. JCPI - Dividend Comparison

EIRRX's dividend yield for the trailing twelve months is around 4.07%, more than JCPI's 3.93% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EIRRX Eaton Vance Short Duration Inflation-Protected Income Fund	4.07%	3.57%	4.08%	4.50%	5.07%	3.54%	2.21%	2.66%	2.91%	2.13%	2.24%	2.05%
JCPI JPMorgan Inflation Managed Bond ETF	3.93%	3.93%	3.98%	3.45%	3.29%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EIRRX and JCPI in my portfolio?

EIRRX and JCPI have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EIRRX or JCPI?

JCPI has higher volatility (0.86%) compared to EIRRX (0.45%). In terms of maximum drawdown, EIRRX dropped -10.27% vs JCPI's -7.85%.

Which has better risk-adjusted returns?

EIRRX currently has the higher Sharpe Ratio (2.57 vs 1.92), 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.