ENIAX vs. JPST

Last updated Jun 17, 2026

ENIAX (SEI Institutional Investments Trust Opportunistic Income Fund) and JPST (JPMorgan Ultra-Short Income ETF) are both Ultrashort Bond funds. Over the past 5 years, ENIAX returned 4.69%/yr vs 3.65%/yr for JPST. At a 0.17 correlation, their price movements are largely independent. ENIAX charges 0.23%/yr vs 0.18%/yr for JPST.

Performance

ENIAX vs. JPST - Performance Comparison

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

Returns By Period

In the year-to-date period, ENIAX achieves a 1.65% return, which is significantly higher than JPST's 1.56% return.

ENIAX

• 1D: 0.00%
• 1M: 0.38%
• YTD: 1.65%
• 6M: 1.93%
• 1Y: 5.15%
• 3Y*: 6.59%
• 5Y*: 4.69%
• 10Y*: 4.18%

JPST

• 1D: 0.00%
• 1M: 0.37%
• YTD: 1.56%
• 6M: 1.76%
• 1Y: 4.31%
• 3Y*: 5.19%
• 5Y*: 3.65%
• 10Y*: —

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

ENIAX vs. JPST - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ENIAX SEI Institutional Investments Trust Opportunistic Income Fund	1.65%	6.14%	8.34%	7.94%	-1.16%	2.67%	2.47%	5.82%	1.82%	2.29%
JPST JPMorgan Ultra-Short Income ETF	1.56%	4.99%	5.58%	5.13%	1.14%	0.11%	2.18%	3.34%	2.23%	0.98%

Correlation

The correlation between ENIAX and JPST is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.13
Correlation (3Y) Calculated over the trailing 3-year period	0.19
Correlation (5Y) Calculated over the trailing 5-year period	0.19
Correlation (All Time) Calculated using the full available price history since May 19, 2017	0.17

Return for Risk

ENIAX vs. JPST — Risk / Return Rank

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

ENIAX

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

JPST

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

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.

ENIAX vs. JPST - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SEI Institutional Investments Trust Opportunistic Income Fund (ENIAX) and JPMorgan Ultra-Short Income ETF (JPST). 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.

	ENIAX	JPST	Difference
Sharpe ratio: Return per unit of total volatility	5.38	8.14	-2.76
Sortino ratio: Return per unit of downside risk	11.21	17.91	-6.70
Omega ratio: Gain probability vs. loss probability	4.10	3.98	+0.12
Calmar ratio: Return relative to maximum drawdown	13.83	29.16	-15.33
Martin ratio: Return relative to average drawdown	84.16	143.14	-58.97

ENIAX vs. JPST - Sharpe Ratio Comparison

The current ENIAX Sharpe Ratio is 5.38, which is lower than the JPST Sharpe Ratio of 8.14. The chart below compares the historical Sharpe Ratios of ENIAX and JPST, 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

ENIAX vs. JPST - Drawdown Comparison

The maximum ENIAX drawdown since its inception was -33.30%, which is greater than JPST's maximum drawdown of -3.28%. Use the drawdown chart below to compare losses from any high point for ENIAX and JPST.

Drawdown Indicators

	ENIAX	JPST	Difference
Max Drawdown Largest peak-to-trough decline	-33.30%	-3.28%	-30.02%
Max Drawdown (1Y) Largest decline over 1 year	-0.37%	-0.15%	-0.22%
Max Drawdown (3Y) Largest decline over 3 years	-2.11%	-0.30%	-1.81%
Max Drawdown (5Y) Largest decline over 5 years	-3.52%	-0.79%	-2.73%
Max Drawdown (10Y) Largest decline over 10 years	-13.45%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-7.77%	-0.08%	-7.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.06%	0.03%	+0.03%

Volatility

ENIAX vs. JPST - Volatility Comparison

SEI Institutional Investments Trust Opportunistic Income Fund (ENIAX) has a higher volatility of 0.27% compared to JPMorgan Ultra-Short Income ETF (JPST) at 0.16%. This indicates that ENIAX's price experiences larger fluctuations and is considered to be riskier than JPST based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ENIAX	JPST	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.27%	0.16%	+0.11%
Volatility (6M) Calculated over the trailing 6-month period	0.70%	0.36%	+0.34%
Volatility (1Y) Calculated over the trailing 1-year period	0.96%	0.53%	+0.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.86%	0.58%	+2.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.79%	0.93%	+1.86%

ENIAX vs. JPST - Expense Ratio Comparison

ENIAX has a 0.23% expense ratio, which is higher than JPST's 0.18% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

ENIAX vs. JPST - Dividend Comparison

ENIAX's dividend yield for the trailing twelve months is around 5.92%, more than JPST's 4.25% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ENIAX SEI Institutional Investments Trust Opportunistic Income Fund	5.92%	6.00%	6.78%	5.33%	4.07%	2.66%	2.96%	4.32%	3.96%	3.02%	2.75%	2.54%
JPST JPMorgan Ultra-Short Income ETF	4.25%	4.43%	5.16%	4.79%	1.83%	0.73%	1.43%	2.69%	2.07%	0.96%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ENIAX and JPST in my portfolio?

ENIAX and JPST have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ENIAX or JPST?

ENIAX has higher volatility (0.27%) compared to JPST (0.16%). In terms of maximum drawdown, ENIAX dropped -33.30% vs JPST's -3.28%.

Which has better risk-adjusted returns?

JPST currently has the higher Sharpe Ratio (8.14 vs 5.38), 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.