BCPIX vs. SSASX
BCPIX (Brandes Core Plus Fixed Income Fund) and SSASX (State Street Income Fund) are both Intermediate Core-Plus Bond funds. Over the past 5 years, BCPIX returned 0.73%/yr vs -0.82%/yr for SSASX. Their correlation of 0.95 suggests significant overlap in exposure. BCPIX charges 0.30%/yr vs 0.20%/yr for SSASX.
Performance
BCPIX vs. SSASX - Performance Comparison
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Returns By Period
In the year-to-date period, BCPIX achieves a -0.08% return, which is significantly higher than SSASX's -0.31% return.
BCPIX
- 1D
- -0.36%
- 1M
- 0.89%
- YTD
- -0.08%
- 6M
- 0.44%
- 1Y
- 3.53%
- 3Y*
- 4.11%
- 5Y*
- 0.73%
- 10Y*
- 1.71%
SSASX
- 1D
- -0.31%
- 1M
- 0.66%
- YTD
- -0.31%
- 6M
- 0.11%
- 1Y
- 3.94%
- 3Y*
- 2.87%
- 5Y*
- -0.82%
- 10Y*
- —
BCPIX vs. SSASX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
BCPIX Brandes Core Plus Fixed Income Fund | -0.08% | 6.71% | 1.98% | 6.70% | -10.78% | 0.78% |
SSASX State Street Income Fund | -0.31% | 7.49% | -0.95% | 4.83% | -13.74% | 0.59% |
Correlation
The correlation between BCPIX and SSASX is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.94 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.96 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.95 |
Correlation (All Time) Calculated using the full available price history since May 24, 2021 | 0.95 |
The correlation between BCPIX and SSASX has been stable across timeframes, ranging from 0.94 to 0.96 - a consistent structural relationship.
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Return for Risk
BCPIX vs. SSASX — Risk / Return Rank
BCPIX
SSASX
BCPIX vs. SSASX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Brandes Core Plus Fixed Income Fund (BCPIX) and State Street Income Fund (SSASX). 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.
| BCPIX | SSASX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.05 | ||
| Sortino ratioReturn per unit of downside risk | +0.09 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.18 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.44 | 1.22 | +0.23 |
| Martin ratioReturn relative to average drawdown | 4.24 | 3.38 | +0.85 |
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Drawdowns
BCPIX vs. SSASX - Drawdown Comparison
The maximum BCPIX drawdown since its inception was -22.43%, which is greater than SSASX's maximum drawdown of -19.65%. Use the drawdown chart below to compare losses from any high point for BCPIX and SSASX.
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Drawdown Indicators
| BCPIX | SSASX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.43% | -19.65% | -2.78% |
Max Drawdown (1Y)Largest decline over 1 year | -2.63% | -3.42% | +0.79% |
Max Drawdown (3Y)Largest decline over 3 years | -5.44% | -7.97% | +2.53% |
Max Drawdown (5Y)Largest decline over 5 years | -15.19% | -19.65% | +4.46% |
Max Drawdown (10Y)Largest decline over 10 years | -15.19% | — | — |
Current DrawdownCurrent decline from peak | -1.29% | -5.55% | +4.26% |
Average DrawdownAverage peak-to-trough decline | -4.25% | -9.63% | +5.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.89% | 1.23% | -0.34% |
Volatility
BCPIX vs. SSASX - Volatility Comparison
Brandes Core Plus Fixed Income Fund (BCPIX) and State Street Income Fund (SSASX) have volatilities of 1.17% and 1.18%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BCPIX | SSASX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.17% | 1.18% | -0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 2.72% | 3.00% | -0.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.58% | 4.14% | -0.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.10% | 6.50% | -1.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.18% | 6.47% | -2.29% |
BCPIX vs. SSASX - Expense Ratio Comparison
BCPIX has a 0.30% expense ratio, which is higher than SSASX's 0.20% expense ratio.
Dividends
BCPIX vs. SSASX - Dividend Comparison
BCPIX's dividend yield for the trailing twelve months is around 4.23%, more than SSASX's 4.02% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BCPIX Brandes Core Plus Fixed Income Fund | 4.23% | 4.32% | 3.67% | 2.91% | 2.54% | 1.89% | 1.76% | 2.77% | 2.90% | 2.49% | 2.84% | 2.72% |
SSASX State Street Income Fund | 4.02% | 4.01% | 2.76% | 2.86% | 2.48% | 3.77% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.94, BCPIX and SSASX 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.
SSASX has higher volatility (1.18%) compared to BCPIX (1.17%). In terms of maximum drawdown, BCPIX dropped -22.43% vs SSASX's -19.65%.
BCPIX currently has the higher Sharpe Ratio (1.06 vs 1.01), 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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