SWVXX vs. ENIAX

Last updated Jun 4, 2026

SWVXX (Schwab Prime Advantage Money Fund Investor Shares) and ENIAX (SEI Institutional Investments Trust Opportunistic Income Fund) are both mutual funds - SWVXX is a Money Market fund actively managed by Charles Schwab, while ENIAX is a Ultrashort Bond fund managed by SEI. Over the past 5 years, SWVXX returned 3.14%/yr vs 4.69%/yr for ENIAX. At a correlation of -0.02, they often move in opposite directions. SWVXX charges 0.34%/yr vs 0.23%/yr for ENIAX.

Performance

SWVXX vs. ENIAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab Prime Advantage Money Fund Investor Shares (SWVXX) and SEI Institutional Investments Trust Opportunistic Income Fund (ENIAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with SWVXX having a 1.45% return and ENIAX slightly higher at 1.52%.

SWVXX

• 1D: 0.00%
• 1M: 0.29%
• YTD: 1.45%
• 6M: 1.77%
• 1Y: 3.85%
• 3Y*: 4.71%
• 5Y*: 3.14%
• 10Y*: —

ENIAX

• 1D: 0.00%
• 1M: 0.38%
• YTD: 1.52%
• 6M: 1.93%
• 1Y: 5.28%
• 3Y*: 6.69%
• 5Y*: 4.69%
• 10Y*: 4.17%

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

SWVXX vs. ENIAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
SWVXX Schwab Prime Advantage Money Fund Investor Shares	1.45%	4.15%	5.16%	5.04%	0.00%	0.00%
ENIAX SEI Institutional Investments Trust Opportunistic Income Fund	1.52%	6.14%	8.34%	7.94%	-1.16%	1.09%

Correlation

The correlation between SWVXX and ENIAX is -0.12, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.12
Correlation (3Y) Calculated over the trailing 3-year period	-0.05
Correlation (5Y) Calculated over the trailing 5-year period	-0.03
Correlation (All Time) Calculated using the full available price history since May 26, 2021	-0.02

Return for Risk

SWVXX vs. ENIAX — 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

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.

SWVXX vs. ENIAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab Prime Advantage Money Fund Investor Shares (SWVXX) 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.

	SWVXX	ENIAX	Difference
Sharpe ratio: Return per unit of total volatility	3.71	5.58	-1.87
Sortino ratio: Return per unit of downside risk	—	11.95	—
Omega ratio: Gain probability vs. loss probability	—	4.44	—
Calmar ratio: Return relative to maximum drawdown	—	14.18	—
Martin ratio: Return relative to average drawdown	—	87.74	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SWVXX vs. ENIAX - Sharpe Ratio Comparison

The current SWVXX Sharpe Ratio is 3.71, which is lower than the ENIAX Sharpe Ratio of 5.58. The chart below compares the historical Sharpe Ratios of SWVXX and ENIAX, 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

	SWVXX	ENIAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.71	5.58	-1.87
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	2.95	1.65	+1.31
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	1.50	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.94	0.67	+2.28

Drawdowns

SWVXX vs. ENIAX - Drawdown Comparison

The maximum SWVXX drawdown since its inception was 0.00%, smaller than the maximum ENIAX drawdown of -33.30%. Use the drawdown chart below to compare losses from any high point for SWVXX and ENIAX.

Drawdown Indicators

	SWVXX	ENIAX	Difference
Max Drawdown Largest peak-to-trough decline	0.00%	-33.30%	+33.30%
Max Drawdown (1Y) Largest decline over 1 year	0.00%	-0.37%	+0.37%
Max Drawdown (3Y) Largest decline over 3 years	0.00%	-2.11%	+2.11%
Max Drawdown (5Y) Largest decline over 5 years	0.00%	-3.52%	+3.52%
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	0.00%	-7.79%	+7.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.00%	0.06%	-0.06%

Volatility

SWVXX vs. ENIAX - Volatility Comparison

Schwab Prime Advantage Money Fund Investor Shares (SWVXX) has a higher volatility of 0.29% compared to SEI Institutional Investments Trust Opportunistic Income Fund (ENIAX) at 0.23%. This indicates that SWVXX'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.

Volatility by Period

	SWVXX	ENIAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.29%	0.23%	+0.06%
Volatility (6M) Calculated over the trailing 6-month period	0.76%	0.69%	+0.07%
Volatility (1Y) Calculated over the trailing 1-year period	1.10%	0.95%	+0.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.09%	2.86%	-1.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.09%	2.79%	-1.70%

SWVXX vs. ENIAX - Expense Ratio Comparison

SWVXX has a 0.34% expense ratio, which is higher than ENIAX's 0.23% expense ratio.

Dividends

SWVXX vs. ENIAX - Dividend Comparison

SWVXX's dividend yield for the trailing twelve months is around 3.77%, 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%
SWVXX Schwab Prime Advantage Money Fund Investor Shares	3.77%	4.06%	5.02%	4.91%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SWVXX and ENIAX in my portfolio?

SWVXX and ENIAX have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SWVXX or ENIAX?

SWVXX has higher volatility (0.29%) compared to ENIAX (0.23%). In terms of maximum drawdown, SWVXX dropped 0.00% vs ENIAX's -33.30%.

Which has better risk-adjusted returns?

ENIAX currently has the higher Sharpe Ratio (5.58 vs 3.71), 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.