RRPAX vs. ENIAX
RRPAX (SEI Institutional Investments Trust Real Return Fund) and ENIAX (SEI Institutional Investments Trust Opportunistic Income Fund) are both mutual funds - RRPAX is a Inflation-Protected Bonds fund managed by SEI, while ENIAX is a Ultrashort Bond fund managed by SEI. Over the past 10 years, RRPAX returned 2.98%/yr vs 4.17%/yr for ENIAX. At a 0.13 correlation, their price movements are largely independent. RRPAX charges 0.02%/yr vs 0.23%/yr for ENIAX.
Performance
RRPAX vs. ENIAX - Performance Comparison
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Returns By Period
In the year-to-date period, RRPAX achieves a 1.97% return, which is significantly higher than ENIAX's 1.52% return. Over the past 10 years, RRPAX has underperformed ENIAX with an annualized return of 2.98%, while ENIAX has yielded a comparatively higher 4.17% annualized return.
RRPAX
- 1D
- 0.00%
- 1M
- 0.11%
- YTD
- 1.97%
- 6M
- 1.88%
- 1Y
- 4.58%
- 3Y*
- 4.96%
- 5Y*
- 2.91%
- 10Y*
- 2.98%
ENIAX
- 1D
- 0.00%
- 1M
- 0.38%
- YTD
- 1.52%
- 6M
- 1.93%
- 1Y
- 5.15%
- 3Y*
- 6.69%
- 5Y*
- 4.69%
- 10Y*
- 4.17%
RRPAX vs. ENIAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
RRPAX SEI Institutional Investments Trust Real Return Fund | 1.97% | 6.53% | 4.54% | 3.49% | -4.06% | 5.41% | 5.64% | 5.01% | 0.31% | 0.73% |
ENIAX SEI Institutional Investments Trust Opportunistic Income Fund | 1.52% | 6.14% | 8.34% | 7.94% | -1.16% | 2.67% | 2.47% | 5.82% | 1.82% | 3.93% |
Correlation
The correlation between RRPAX and ENIAX is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.29 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.22 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.16 |
Correlation (All Time) Calculated using the full available price history since Sep 5, 2007 | 0.13 |
The correlation between RRPAX and ENIAX shifts across timeframes, from 0.11 (1 year) to 0.29 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
RRPAX vs. ENIAX — Risk / Return Rank
RRPAX
ENIAX
RRPAX vs. ENIAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SEI Institutional Investments Trust Real Return Fund (RRPAX) and SEI Institutional Investments Trust Opportunistic Income Fund (ENIAX). 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.
| RRPAX | ENIAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.01 | ||
| Sortino ratioReturn per unit of downside risk | -7.71 | ||
| Omega ratioGain probability vs. loss probability | 1.57 | 4.44 | -2.88 |
| Calmar ratioReturn relative to maximum drawdown | 5.54 | 14.18 | -8.64 |
| Martin ratioReturn relative to average drawdown | 20.50 | 87.74 | -67.23 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| RRPAX | ENIAX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.57 | 5.58 | -3.01 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.90 | 1.65 | -0.74 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.11 | 1.50 | -0.39 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.52 | 0.67 | -0.15 |
Drawdowns
RRPAX vs. ENIAX - Drawdown Comparison
The maximum RRPAX drawdown since its inception was -16.15%, smaller than the maximum ENIAX drawdown of -33.30%. Use the drawdown chart below to compare losses from any high point for RRPAX and ENIAX.
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Drawdown Indicators
| RRPAX | ENIAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.15% | -33.30% | +17.15% |
Max Drawdown (1Y)Largest decline over 1 year | -0.85% | -0.37% | -0.48% |
Max Drawdown (3Y)Largest decline over 3 years | -1.89% | -2.11% | +0.22% |
Max Drawdown (5Y)Largest decline over 5 years | -6.48% | -3.52% | -2.96% |
Max Drawdown (10Y)Largest decline over 10 years | -6.48% | -13.45% | +6.97% |
Current DrawdownCurrent decline from peak | -0.11% | 0.00% | -0.11% |
Average DrawdownAverage peak-to-trough decline | -2.95% | -7.79% | +4.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.23% | 0.06% | +0.17% |
Volatility
RRPAX vs. ENIAX - Volatility Comparison
SEI Institutional Investments Trust Real Return Fund (RRPAX) has a higher volatility of 0.58% compared to SEI Institutional Investments Trust Opportunistic Income Fund (ENIAX) at 0.21%. This indicates that RRPAX's price experiences larger fluctuations and is considered to be riskier than ENIAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RRPAX | ENIAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.58% | 0.21% | +0.37% |
Volatility (6M)Calculated over the trailing 6-month period | 1.32% | 0.69% | +0.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.84% | 0.95% | +0.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.24% | 2.86% | +0.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.70% | 2.79% | -0.09% |
RRPAX vs. ENIAX - Expense Ratio Comparison
RRPAX has a 0.02% expense ratio, which is lower than ENIAX's 0.23% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
RRPAX vs. ENIAX - Dividend Comparison
RRPAX's dividend yield for the trailing twelve months is around 3.92%, less than ENIAX's 5.93% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ENIAX SEI Institutional Investments Trust Opportunistic Income Fund | 5.93% | 6.00% | 6.78% | 5.33% | 4.07% | 2.66% | 2.96% | 4.32% | 3.96% | 3.02% | 2.75% | 2.54% |
RRPAX SEI Institutional Investments Trust Real Return Fund | 3.92% | 4.64% | 3.57% | 2.43% | 7.18% | 5.33% | 1.38% | 2.14% | 2.35% | 1.89% | 1.23% | 0.00% |
Frequently Asked Questions
RRPAX and ENIAX have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
RRPAX has higher volatility (0.58%) compared to ENIAX (0.21%). In terms of maximum drawdown, RRPAX dropped -16.15% vs ENIAX's -33.30%.
ENIAX currently has the higher Sharpe Ratio (5.58 vs 2.57), 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.
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