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State Street Small/Mid Cap Equity Index Fund (SSMKX) Diversifiers

Mutual Fund · Currency in USD · Last updated Jun 4, 2026

The investment seeks to provide investment results that, before expenses, correspond generally to the total return of the Russell Small Cap Completeness Index that tracks the performance of mid- to small- capitalization exchange traded U.S. equity securities. The fund uses a passive management strategy designed to track the performance of the index. The index is a float-adjusted, market capitalization index which measures the performance of the Russell 3000 Index companies excluding S&P 500 constituents. The index is constructed to provide a comprehensive and unbiased barometer of the extended broad market beyond the S&P 500 exposure.

Looking to diversify beyond SSMKX? The mutual funds below have the lowest correlation with SSMKX — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from SSMKX.

Best Diversifiers for SSMKX

1 mutual funds have low correlation with SSMKX (below 0.3), 0 of which are negatively correlated. The least correlated is Elfun Tax Exempt Income Fund (ELFTX) (Municipal Bonds) with a 1Y correlation of 0.19, roughly unchanged from 0.12 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
ELFTX
Elfun Tax Exempt Income Fund0.190.150.12
70
Municipal BondsSSMKX vs ELFTX
SSGVX
State Street Global All Cap Equity ex-U.S.Index Po...0.600.630.67
62
Foreign Large Cap EquitiesSSMKX vs SSGVX
SSGJX
State Street Global All Cap Equity ex-U.S. Index F...0.610.630.67
62
Foreign Large Cap EquitiesSSMKX vs SSGJX
SVSPX
State Street S&P 500 Index Fund Class N0.610.700.79
88
Large Cap Blend EquitiesSSMKX vs SVSPX
SSGLX
State Street Global All Cap Equity ex-U.S. Index F...0.610.630.67
62
Global EquitiesSSMKX vs SSGLX
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