SGVAX vs. EINFX
SGVAX (Western Asset Mortgage Total Return Fund) and EINFX (Elfun Income Fund) are both Intermediate Core-Plus Bond funds. Over the past 10 years, SGVAX returned 1.10%/yr vs 1.07%/yr for EINFX. Their correlation of 0.82 means they have usually moved in the same direction. SGVAX charges 0.94%/yr vs 0.29%/yr for EINFX.
Performance
SGVAX vs. EINFX - Performance Comparison
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Returns By Period
In the year-to-date period, SGVAX achieves a 0.08% return, which is significantly higher than EINFX's -1.00% return. Both investments have delivered pretty close results over the past 10 years, with SGVAX having a 1.10% annualized return and EINFX not far behind at 1.07%.
SGVAX
- 1D
- 0.00%
- 1M
- -1.20%
- 6M
- -0.45%
- YTD
- 0.08%
- 1Y
- 2.69%
- 3Y*
- 4.06%
- 5Y*
- -0.63%
- 10Y*
- 1.10%
- ALL TIME*
- 3.39%
EINFX
- 1D
- 0.00%
- 1M
- -1.14%
- 6M
- -1.18%
- YTD
- -1.00%
- 1Y
- 1.42%
- 3Y*
- 2.65%
- 5Y*
- -1.23%
- 10Y*
- 1.07%
- ALL TIME*
- 3.71%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
EINFX Elfun Income Fund | $0.00 | $0.00 | $0.00 |
| $0.00 | $0.00 | $0.00 |
SGVAX vs. EINFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SGVAX Western Asset Mortgage Total Return Fund | 0.08% | 7.69% | 2.31% | 3.14% | -14.37% | 0.40% | 2.25% | 6.03% | 2.03% | 4.53% |
EINFX Elfun Income Fund | -1.00% | 7.35% | -0.73% | 4.75% | -13.82% | -1.57% | 7.81% | 9.51% | -0.86% | 3.91% |
Correlation
The correlation between SGVAX and EINFX is 0.91, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.91 |
Correlation (3Y) Balances recent behavior with more history. | 0.95 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.95 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.88 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 1993 | 0.82 |
The correlation between SGVAX and EINFX shifts across timeframes, from 0.82 (all time) to 0.95 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
SGVAX vs. EINFX — Risk / Return Rank
SGVAX
EINFX
SGVAX vs. EINFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Western Asset Mortgage Total Return Fund (SGVAX) and Elfun Income Fund (EINFX). 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.
| SGVAX | EINFX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.34 | ||
| Sortino ratioReturn per unit of downside risk | +0.46 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.12 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 1.45 | 0.80 | +0.65 |
| Martin ratioReturn relative to average drawdown | 4.08 | 1.93 | +2.14 |
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Drawdowns
SGVAX vs. EINFX - Drawdown Comparison
The maximum SGVAX drawdown since its inception was -20.70%, roughly equal to the maximum EINFX drawdown of -19.78%. Use the drawdown chart below to compare losses from any high point for SGVAX and EINFX.
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Drawdown Indicators
| SGVAX | EINFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.70% | -19.78% | -0.92% |
Max Drawdown (1Y)Largest decline over 1 year | -2.94% | -3.40% | +0.46% |
Max Drawdown (3Y)Largest decline over 3 years | -7.29% | -6.96% | -0.33% |
Max Drawdown (5Y)Largest decline over 5 years | -20.70% | -19.78% | -0.92% |
Max Drawdown (10Y)Largest decline over 10 years | -20.70% | -19.78% | -0.92% |
Current DrawdownCurrent decline from peak | -3.39% | -6.24% | +2.85% |
Average DrawdownAverage peak-to-trough decline | -2.62% | -3.58% | +0.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.04% | 1.40% | -0.36% |
Volatility
SGVAX vs. EINFX - Volatility Comparison
Western Asset Mortgage Total Return Fund (SGVAX) has a higher volatility of 1.13% compared to Elfun Income Fund (EINFX) at 0.95%. This indicates that SGVAX's price experiences larger fluctuations and is considered to be riskier than EINFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SGVAX | EINFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.13% | 0.95% | +0.18% |
Volatility (6M)Calculated over the trailing 6-month period | 3.29% | 3.11% | +0.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.21% | 4.03% | +0.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.66% | 6.51% | +0.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.13% | 5.24% | -0.11% |
SGVAX vs. EINFX - Expense Ratio Comparison
SGVAX has a 0.94% expense ratio, which is higher than EINFX's 0.29% expense ratio.
Dividends
SGVAX vs. EINFX - Dividend Comparison
SGVAX's dividend yield for the trailing twelve months is around 4.29%, more than EINFX's 3.57% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EINFX Elfun Income Fund | 3.57% | 3.84% | 3.04% | 2.76% | 4.09% | 3.31% | 3.15% | 2.78% | 2.88% | 2.42% | 3.34% | 2.87% |
SGVAX Western Asset Mortgage Total Return Fund | 4.29% | 4.83% | 3.88% | 3.67% | 3.22% | 2.29% | 3.38% | 4.39% | 5.39% | 3.79% | 3.55% | 3.85% |
Frequently Asked Questions
With a correlation of 0.91, SGVAX and EINFX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
SGVAX has higher volatility (1.13%) compared to EINFX (0.95%). In terms of maximum drawdown, SGVAX dropped -20.70% vs EINFX's -19.78%.
SGVAX currently has the higher Sharpe Ratio (1.02 vs 0.67), 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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