ELFNX vs. SVSPX

Last updated Jun 5, 2026

ELFNX (Elfun Trusts) and SVSPX (State Street S&P 500 Index Fund Class N) are both mutual funds - ELFNX is a Large Cap Growth Equities fund managed by State Street, while SVSPX is a Large Cap Blend Equities fund tracking the S&P 500 Index. Over the past 10 years, ELFNX returned 16.45%/yr vs 15.42%/yr for SVSPX. Their correlation of 0.94 suggests significant overlap in exposure. ELFNX charges 0.18%/yr vs 0.16%/yr for SVSPX.

Performance

ELFNX vs. SVSPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Elfun Trusts (ELFNX) and State Street S&P 500 Index Fund Class N (SVSPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ELFNX achieves a 6.19% return, which is significantly lower than SVSPX's 10.81% return. Over the past 10 years, ELFNX has outperformed SVSPX with an annualized return of 16.45%, while SVSPX has yielded a comparatively lower 15.42% annualized return.

ELFNX

• 1D: -0.71%
• 1M: 2.78%
• YTD: 6.19%
• 6M: 6.10%
• 1Y: 23.16%
• 3Y*: 22.18%
• 5Y*: 13.01%
• 10Y*: 16.45%

SVSPX

• 1D: -0.74%
• 1M: 4.16%
• YTD: 10.81%
• 6M: 10.84%
• 1Y: 28.00%
• 3Y*: 22.42%
• 5Y*: 13.79%
• 10Y*: 15.42%

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

ELFNX vs. SVSPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ELFNX Elfun Trusts	6.19%	16.64%	26.91%	34.50%	-19.91%	24.46%	25.18%	35.57%	-3.25%	25.60%
SVSPX State Street S&P 500 Index Fund Class N	10.81%	17.83%	25.07%	26.21%	-18.31%	28.38%	18.48%	31.27%	-4.87%	21.71%

Correlation

The correlation between ELFNX and SVSPX is 0.73, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.73
Correlation (3Y) Calculated over the trailing 3-year period	0.82
Correlation (5Y) Calculated over the trailing 5-year period	0.90
Correlation (10Y) Calculated over the trailing 10-year period	0.93
Correlation (All Time) Calculated using the full available price history since Jan 5, 1993	0.94

Over the past year, the correlation between ELFNX and SVSPX has dropped to 0.73 - well below their long-term average of 0.94, suggesting their price drivers have been diverging.

Return for Risk

ELFNX vs. SVSPX — Risk / Return Rank

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

ELFNX

ELFNX Risk / Return Rank: 38
ELFNX Sharpe Ratio Rank: 42
ELFNX Sortino Ratio Rank: 39
ELFNX Omega Ratio Rank: 39
ELFNX Calmar Ratio Rank: 31
ELFNX Martin Ratio Rank: 39

SVSPX

SVSPX Risk / Return Rank: 84
SVSPX Sharpe Ratio Rank: 86
SVSPX Sortino Ratio Rank: 83
SVSPX Omega Ratio Rank: 77
SVSPX Calmar Ratio Rank: 84
SVSPX Martin Ratio Rank: 91

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.

ELFNX vs. SVSPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Elfun Trusts (ELFNX) and State Street S&P 500 Index Fund Class N (SVSPX). 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.

	ELFNX	SVSPX	Difference
Sharpe ratio: Return per unit of total volatility	1.89	2.81	-0.92
Sortino ratio: Return per unit of downside risk	2.60	4.01	-1.41
Omega ratio: Gain probability vs. loss probability	1.33	1.51	-0.18
Calmar ratio: Return relative to maximum drawdown	2.07	4.00	-1.92
Martin ratio: Return relative to average drawdown	8.48	18.92	-10.44
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ELFNX vs. SVSPX - Sharpe Ratio Comparison

The current ELFNX Sharpe Ratio is 1.89, which is lower than the SVSPX Sharpe Ratio of 2.81. The chart below compares the historical Sharpe Ratios of ELFNX and SVSPX, 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

	ELFNX	SVSPX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.89	2.81	-0.92
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.73	0.83	-0.10
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.90	0.86	+0.04
Sharpe Ratio (All Time) Calculated using the full available price history	0.59	0.58	+0.01

Drawdowns

ELFNX vs. SVSPX - Drawdown Comparison

The maximum ELFNX drawdown since its inception was -50.28%, smaller than the maximum SVSPX drawdown of -55.76%. Use the drawdown chart below to compare losses from any high point for ELFNX and SVSPX.

Drawdown Indicators

	ELFNX	SVSPX	Difference
Max Drawdown Largest peak-to-trough decline	-50.28%	-55.76%	+5.48%
Max Drawdown (1Y) Largest decline over 1 year	-11.40%	-8.93%	-2.47%
Max Drawdown (3Y) Largest decline over 3 years	-19.58%	-19.09%	-0.49%
Max Drawdown (5Y) Largest decline over 5 years	-26.39%	-24.59%	-1.80%
Max Drawdown (10Y) Largest decline over 10 years	-32.44%	-33.69%	+1.25%
Current Drawdown Current decline from peak	-1.10%	-0.74%	-0.36%
Average Drawdown Average peak-to-trough decline	-7.63%	-9.24%	+1.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.79%	2.88%	-0.09%

Volatility

ELFNX vs. SVSPX - Volatility Comparison

The current volatility for Elfun Trusts (ELFNX) is 2.98%, while State Street S&P 500 Index Fund Class N (SVSPX) has a volatility of 3.20%. This indicates that ELFNX experiences smaller price fluctuations and is considered to be less risky than SVSPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ELFNX	SVSPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.98%	3.20%	-0.22%
Volatility (6M) Calculated over the trailing 6-month period	9.48%	10.29%	-0.81%
Volatility (1Y) Calculated over the trailing 1-year period	12.51%	12.69%	-0.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.90%	17.45%	+0.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.37%	18.34%	+0.03%

ELFNX vs. SVSPX - Expense Ratio Comparison

ELFNX has a 0.18% expense ratio, which is higher than SVSPX's 0.16% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

ELFNX vs. SVSPX - Dividend Comparison

ELFNX's dividend yield for the trailing twelve months is around 9.29%, more than SVSPX's 7.49% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ELFNX Elfun Trusts	9.29%	9.87%	10.43%	2.90%	9.01%	11.62%	8.60%	9.39%	16.18%	10.80%	8.85%	8.22%
SVSPX State Street S&P 500 Index Fund Class N	7.49%	8.28%	9.39%	12.38%	10.53%	11.65%	15.98%	6.40%	13.29%	4.94%	8.63%	4.05%

Frequently Asked Questions

Can I hold both ELFNX and SVSPX in my portfolio?

ELFNX and SVSPX have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ELFNX or SVSPX?

SVSPX has higher volatility (3.20%) compared to ELFNX (2.98%). In terms of maximum drawdown, ELFNX dropped -50.28% vs SVSPX's -55.76%.

Which has better risk-adjusted returns?

SVSPX currently has the higher Sharpe Ratio (2.81 vs 1.89), 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.