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State Street Small/Mid Cap Equity Index Fund (SSMKX) Sharpe Ratio: 1.63

Mutual Fund · Currency in USD · Last updated Jun 25, 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.

SSMKX's Sharpe Ratio of 1.63 indicates that for each unit of volatility, it generates 1.63 units of excess return above the risk-free rate. The ratio is calculated using historical daily returns over the past 12 months (as of Jun 25, 2026).

Sharpe uses total volatility (standard deviation) which includes both upside and downside price movements, making it useful for comparing risk-adjusted returns across different assets. For how to read this number and when it can mislead, see Sharpe Ratio Explained.

SSMKX Sharpe Ratio Rank

SSMKX Sharpe Ratio Rank: 38.338
Below Average

SSMKX ranks above 38.3% of all investments in our database based on Sharpe Ratio over the past 12 months, indicating below-average returns relative to volatility. Securities are ranked from 0 (worst) to 100 (best).

What moves the rank

  • Strong returns with low total volatility → Higher rank
  • High volatility (both upside and downside) → Lower rank
  • Consistent returns → Higher rank than volatile returns of same magnitude
  • Sharp drawdowns increase volatility → Lower rank

What you can do with this information

  • Returns may not adequately compensate for volatility taken
  • Consider smaller allocation given below-average risk-adjusted profile
  • Explore higher-ranked investments with better consistency
  • Assess whether the volatility profile aligns with your portfolio goals

SSMKX Sharpe Ratio Market Positioning

The chart shows SSMKX's Sharpe Ratio relative to all mutual funds on our platform, with color zones indicating percentile rankings. Higher ratios indicate better risk-adjusted returns.

  • Red zone (bottom 25%): 1.19 or lower
  • Yellow zone (middle 50%): 1.19 to 2.14
  • Green zone (top 25%): 2.14 or higher
  • Top 1%: 4.07+
  • Median: 1.75 — half of all investments score higher

How it compares to other similar mutual funds

The table compares State Street Small/Mid Cap Equity Index Fund's Sharpe Ratio with other mutual funds in the Mid Cap Blend Equities category across multiple time periods, showing how SSMKX's risk-adjusted performance compares to similar funds.

Data shows 1-, 5-, and 10-year periods, plus each fund's all-time average, as of Jun 25, 2026.

SymbolName1Y Sharpe Ratio5Y Sharpe Ratio10Y Sharpe RatioAll Time Sharpe Ratio
PFSLXParadigm Select Fund2.94
VSEQXVanguard Strategic Equity Fund2.32
DSMFXDestinations Small-Mid Cap Equity Fund2.31
FZAMXFidelity Advisor Mid Cap II Fund Class Z2.29
FIIMXFidelity Advisor Mid Cap II Fund Class I2.28
FZFLXFidelity SAI Small-Mid Cap 500 Index Fund2.26
FIIAXFidelity Advisor Mid Cap II Fund Class A2.26
FITIXFidelity Advisor Mid Cap II Fund Class M2.24
FIICXFidelity Advisor Mid Cap II Fund Class C2.20
HDPMXHodges Fund2.20
SSMKXState Street Small/Mid Cap Equity Index Fund1.63

S&P 500 Index

How to choose period

Historical Sharpe Ratio

The chart shows SSMKX's rolling Sharpe ratio over time compared to your chosen benchmark. Rising trends indicate improving returns relative to total volatility, while declining trends may signal deteriorating risk-adjusted performance or increased volatility. Use multiple timeframes to distinguish short-term fluctuations from long-term patterns.

Identify market cycles by observing when SSMKX consistently outperforms (line above benchmark), underperforms (below benchmark), or aligns with the benchmark.

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Sharpe Ratio Calculator

How does SSMKX fit in your portfolio?

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