SJLD vs. MSTI

Last updated Jun 24, 2026

SJLD (SanJac Alpha Low Duration ETF) and MSTI (Madison Short-Term Strategic Income ETF) are both Short-Term Bond funds. Both are actively managed. Over the past year, SJLD returned 4.58% vs 3.63% for MSTI. At a 0.35 correlation, their price movements are largely independent. SJLD charges 0.35%/yr vs 0.40%/yr for MSTI.

Performance

SJLD vs. MSTI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SanJac Alpha Low Duration ETF (SJLD) and Madison Short-Term Strategic Income ETF (MSTI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SJLD achieves a 1.71% return, which is significantly higher than MSTI's 0.73% return.

SJLD

• 1D: 0.00%
• 1M: 0.18%
• YTD: 1.71%
• 6M: 1.76%
• 1Y: 4.58%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MSTI

• 1D: 0.10%
• 1M: 0.34%
• YTD: 0.73%
• 6M: 0.94%
• 1Y: 3.63%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SJLD vs. MSTI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SJLD SanJac Alpha Low Duration ETF	1.71%	5.20%	0.91%
MSTI Madison Short-Term Strategic Income ETF	0.73%	6.33%	0.17%

Correlation

The correlation between SJLD and MSTI is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.40
Correlation (All Time) Calculated using the full available price history since Sep 10, 2024	0.35

Return for Risk

SJLD vs. MSTI — Risk / Return Rank

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

SJLD

SJLD Risk / Return Rank: 88
SJLD Sharpe Ratio Rank: 81
SJLD Sortino Ratio Rank: 91
SJLD Omega Ratio Rank: 93
SJLD Calmar Ratio Rank: 86
SJLD Martin Ratio Rank: 92

MSTI

MSTI Risk / Return Rank: 54
MSTI Sharpe Ratio Rank: 46
MSTI Sortino Ratio Rank: 48
MSTI Omega Ratio Rank: 50
MSTI Calmar Ratio Rank: 60
MSTI 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.

SJLD vs. MSTI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SanJac Alpha Low Duration ETF (SJLD) and Madison Short-Term Strategic Income ETF (MSTI). 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.

	SJLD	MSTI	Difference
Sharpe ratio: Return per unit of total volatility	2.35	1.50	+0.85
Sortino ratio: Return per unit of downside risk	3.86	2.24	+1.62
Omega ratio: Gain probability vs. loss probability	1.57	1.30	+0.27
Calmar ratio: Return relative to maximum drawdown	4.40	2.77	+1.64
Martin ratio: Return relative to average drawdown	20.13	11.20	+8.93

SJLD vs. MSTI - Sharpe Ratio Comparison

The current SJLD Sharpe Ratio is 2.35, which is higher than the MSTI Sharpe Ratio of 1.50. The chart below compares the historical Sharpe Ratios of SJLD and MSTI, 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

SJLD vs. MSTI - Drawdown Comparison

The maximum SJLD drawdown since its inception was -1.04%, smaller than the maximum MSTI drawdown of -1.48%. Use the drawdown chart below to compare losses from any high point for SJLD and MSTI.

Drawdown Indicators

	SJLD	MSTI	Difference
Max Drawdown Largest peak-to-trough decline	-1.04%	-1.48%	+0.44%
Max Drawdown (1Y) Largest decline over 1 year	-1.04%	-1.32%	+0.28%
Current Drawdown Current decline from peak	-0.16%	-0.23%	+0.07%
Average Drawdown Average peak-to-trough decline	-0.12%	-0.29%	+0.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.23%	0.32%	-0.09%

Volatility

SJLD vs. MSTI - Volatility Comparison

The current volatility for SanJac Alpha Low Duration ETF (SJLD) is 0.29%, while Madison Short-Term Strategic Income ETF (MSTI) has a volatility of 0.49%. This indicates that SJLD experiences smaller price fluctuations and is considered to be less risky than MSTI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SJLD	MSTI	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.29%	0.49%	-0.20%
Volatility (6M) Calculated over the trailing 6-month period	1.16%	1.64%	-0.48%
Volatility (1Y) Calculated over the trailing 1-year period	1.98%	2.45%	-0.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.93%	2.70%	-0.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.93%	2.70%	-0.77%

SJLD vs. MSTI - Expense Ratio Comparison

SJLD has a 0.35% expense ratio, which is lower than MSTI's 0.40% expense ratio.

Dividends

SJLD vs. MSTI - Dividend Comparison

SJLD's dividend yield for the trailing twelve months is around 4.43%, less than MSTI's 5.33% yield.

Position	TTM	2025	2024	2023
MSTI Madison Short-Term Strategic Income ETF	5.33%	5.40%	5.48%	1.55%
SJLD SanJac Alpha Low Duration ETF	4.43%	3.74%	1.26%	0.00%

Frequently Asked Questions

Can I hold both SJLD and MSTI in my portfolio?

SJLD and MSTI have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SJLD or MSTI?

MSTI has higher volatility (0.49%) compared to SJLD (0.29%). In terms of maximum drawdown, SJLD dropped -1.04% vs MSTI's -1.48%.

Which ETF is better, SJLD or MSTI?

On 1-year performance, SJLD leads with 4.58% vs 3.63% for MSTI. On fees, SJLD is cheaper at 0.35% per year. On volatility, SJLD has been the lower-risk option at 0.29%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SJLD or MSTI?

Over the 1-year period, SJLD has performed better with a 4.58% return vs 3.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SJLD or MSTI?

SJLD is cheaper with a 0.35% expense ratio, compared with 0.40% for MSTI.

Which ETF pays a higher dividend yield, SJLD or MSTI?

MSTI has the higher dividend yield at 5.33%, compared with 4.43% for SJLD.

What is the main difference between SJLD and MSTI?

They also come from different issuers: SanJac Alpha and Madison. Their fees differ too: 0.35% for SJLD and 0.40% for MSTI.

Which has better risk-adjusted returns?

SJLD currently has the higher Sharpe Ratio (2.35 vs 1.50), 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.