JCPI vs. EIRRX

Last updated Jun 5, 2026

JCPI (JPMorgan Inflation Managed Bond ETF) and EIRRX (Eaton Vance Short Duration Inflation-Protected Income Fund) are both Inflation-Protected Bonds funds. Over the past 3 years, JCPI returned 5.33%/yr vs 5.30%/yr for EIRRX. A 0.71 correlation means they provide meaningful diversification when combined. JCPI charges 0.25%/yr vs 0.64%/yr for EIRRX.

Performance

JCPI vs. EIRRX - Performance Comparison

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

Returns By Period

The year-to-date returns for both stocks are quite close, with JCPI having a 1.65% return and EIRRX slightly lower at 1.64%.

JCPI

• 1D: -0.07%
• 1M: -0.27%
• YTD: 1.65%
• 6M: 1.28%
• 1Y: 5.11%
• 3Y*: 5.33%
• 5Y*: —
• 10Y*: —

EIRRX

• 1D: 0.00%
• 1M: 0.10%
• YTD: 1.64%
• 6M: 1.55%
• 1Y: 3.95%
• 3Y*: 5.30%
• 5Y*: 3.67%
• 10Y*: 3.81%

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

JCPI vs. EIRRX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
JCPI JPMorgan Inflation Managed Bond ETF	1.65%	7.10%	4.70%	5.04%	-5.53%
EIRRX Eaton Vance Short Duration Inflation-Protected Income Fund	1.64%	4.63%	5.65%	6.33%	-3.40%

Correlation

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

Return for Risk

JCPI vs. EIRRX — Risk / Return Rank

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

JCPI

JCPI Risk / Return Rank: 58
JCPI Sharpe Ratio Rank: 52
JCPI Sortino Ratio Rank: 58
JCPI Omega Ratio Rank: 53
JCPI Calmar Ratio Rank: 65
JCPI Martin Ratio Rank: 63

EIRRX

EIRRX Risk / Return Rank: 87
EIRRX Sharpe Ratio Rank: 81
EIRRX Sortino Ratio Rank: 88
EIRRX Omega Ratio Rank: 86
EIRRX Calmar Ratio Rank: 90
EIRRX Martin Ratio Rank: 92

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.

JCPI vs. EIRRX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Inflation Managed Bond ETF (JCPI) 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.

	JCPI	EIRRX	Difference
Sharpe ratio: Return per unit of total volatility	1.76	2.64	-0.88
Sortino ratio: Return per unit of downside risk	2.72	4.30	-1.58
Omega ratio: Gain probability vs. loss probability	1.33	1.60	-0.27
Calmar ratio: Return relative to maximum drawdown	3.21	4.60	-1.39
Martin ratio: Return relative to average drawdown	11.08	19.43	-8.35
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JCPI vs. EIRRX - Sharpe Ratio Comparison

The current JCPI Sharpe Ratio is 1.76, which is lower than the EIRRX Sharpe Ratio of 2.64. The chart below compares the historical Sharpe Ratios of JCPI 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.

Sharpe Ratios by Period

	JCPI	EIRRX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.76	2.64	-0.88
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.30	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	1.38	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.67	1.12	-0.45

Drawdowns

JCPI vs. EIRRX - Drawdown Comparison

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

Drawdown Indicators

	JCPI	EIRRX	Difference
Max Drawdown Largest peak-to-trough decline	-7.85%	-10.27%	+2.42%
Max Drawdown (1Y) Largest decline over 1 year	-1.60%	-0.89%	-0.71%
Max Drawdown (3Y) Largest decline over 3 years	-2.81%	-1.67%	-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	-0.44%	-0.10%	-0.34%
Average Drawdown Average peak-to-trough decline	-1.87%	-1.00%	-0.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.46%	0.21%	+0.25%

Volatility

JCPI vs. EIRRX - Volatility Comparison

JPMorgan Inflation Managed Bond ETF (JCPI) has a higher volatility of 0.86% compared to Eaton Vance Short Duration Inflation-Protected Income Fund (EIRRX) at 0.45%. This indicates that JCPI'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

	JCPI	EIRRX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.86%	0.45%	+0.41%
Volatility (6M) Calculated over the trailing 6-month period	2.04%	1.16%	+0.88%
Volatility (1Y) Calculated over the trailing 1-year period	2.94%	1.55%	+1.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.50%	2.84%	+1.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.50%	2.76%	+1.74%

JCPI vs. EIRRX - Expense Ratio Comparison

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

Dividends

JCPI vs. EIRRX - Dividend Comparison

JCPI's dividend yield for the trailing twelve months is around 3.94%, less than EIRRX's 4.07% 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	3.94%	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 JCPI and EIRRX in my portfolio?

JCPI and EIRRX 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, JCPI or EIRRX?

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

Which has better risk-adjusted returns?

EIRRX currently has the higher Sharpe Ratio (2.64 vs 1.76), 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.