ELFTX vs. SSAQX

Last updated Apr 1, 2026

Compare and contrast key facts about Elfun Tax Exempt Income Fund (ELFTX) and State Street U.S. Core Equity Fund (SSAQX).

ELFTX is managed by State Street. It was launched on Jan 1, 1980. SSAQX is managed by State Street. It was launched on Dec 31, 1979.

Performance

ELFTX vs. SSAQX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Elfun Tax Exempt Income Fund (ELFTX) and State Street U.S. Core Equity Fund (SSAQX). The values are adjusted to include any dividend payments, if applicable.

ELFTX vs. SSAQX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
ELFTX Elfun Tax Exempt Income Fund	-0.77%	3.29%	-0.14%	4.27%	-8.97%	0.84%
SSAQX State Street U.S. Core Equity Fund	-8.81%	17.43%	5.04%	28.87%	-18.27%	12.02%

Returns By Period

In the year-to-date period, ELFTX achieves a -0.77% return, which is significantly higher than SSAQX's -8.81% return.

ELFTX

• 1D: 0.21%
• 1M: -2.59%
• YTD: -0.77%
• 6M: 0.94%
• 1Y: 3.35%
• 3Y*: 1.40%
• 5Y*: -0.22%
• 10Y*: 1.37%

SSAQX

• 1D: -0.17%
• 1M: -8.03%
• YTD: -8.81%
• 6M: -5.92%
• 1Y: 13.24%
• 3Y*: 10.73%
• 5Y*: —
• 10Y*: —

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

ELFTX vs. SSAQX - Expense Ratio Comparison

ELFTX has a 0.21% expense ratio, which is higher than SSAQX'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%.

ELFTX

Elfun Tax Exempt Income Fund

SSAQX

State Street U.S. Core Equity Fund

Return for Risk

ELFTX vs. SSAQX — Risk / Return Rank

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

ELFTX

ELFTX Risk / Return Rank: 36
ELFTX Sharpe Ratio Rank: 37
ELFTX Sortino Ratio Rank: 31
ELFTX Omega Ratio Rank: 59
ELFTX Calmar Ratio Rank: 31
ELFTX Martin Ratio Rank: 24

SSAQX

SSAQX Risk / Return Rank: 39
SSAQX Sharpe Ratio Rank: 36
SSAQX Sortino Ratio Rank: 39
SSAQX Omega Ratio Rank: 41
SSAQX Calmar Ratio Rank: 38
SSAQX Martin Ratio Rank: 40

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.

ELFTX vs. SSAQX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Elfun Tax Exempt Income Fund (ELFTX) and State Street U.S. Core Equity Fund (SSAQX). 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.

	ELFTX	SSAQX	Difference
Sharpe ratio Return per unit of total volatility	0.79	0.78	+0.02
Sortino ratio Return per unit of downside risk	1.08	1.22	-0.14
Omega ratio Gain probability vs. loss probability	1.22	1.18	+0.04
Calmar ratio Return relative to maximum drawdown	0.85	1.00	-0.15
Martin ratio Return relative to average drawdown	2.58	4.12	-1.54
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ELFTX vs. SSAQX - Sharpe Ratio Comparison

The current ELFTX Sharpe Ratio is 0.79, which is comparable to the SSAQX Sharpe Ratio of 0.78. The chart below compares the historical Sharpe Ratios of ELFTX and SSAQX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	ELFTX	SSAQX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.79	0.78	+0.02
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.06	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.36	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.71	0.32	+0.39

Correlation

The correlation between ELFTX and SSAQX is 0.10, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

ELFTX vs. SSAQX - Dividend Comparison

ELFTX's dividend yield for the trailing twelve months is around 3.70%, less than SSAQX's 13.18% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ELFTX Elfun Tax Exempt Income Fund	3.70%	3.99%	2.66%	2.88%	3.09%	2.61%	3.24%	3.78%	4.09%	4.00%	4.00%	3.82%
SSAQX State Street U.S. Core Equity Fund	13.18%	12.02%	0.00%	3.83%	9.83%	13.21%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

ELFTX vs. SSAQX - Drawdown Comparison

The maximum ELFTX drawdown since its inception was -19.15%, smaller than the maximum SSAQX drawdown of -31.70%. Use the drawdown chart below to compare losses from any high point for ELFTX and SSAQX.

Drawdown Indicators

	ELFTX	SSAQX	Difference
Max Drawdown Largest peak-to-trough decline	-19.15%	-31.70%	+12.55%
Max Drawdown (1Y) Largest decline over 1 year	-5.23%	-11.49%	+6.26%
Max Drawdown (5Y) Largest decline over 5 years	-13.59%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-13.59%	—	—
Current Drawdown Current decline from peak	-3.44%	-13.39%	+9.95%
Average Drawdown Average peak-to-trough decline	-3.42%	-8.28%	+4.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.73%	2.80%	-1.07%

Volatility

ELFTX vs. SSAQX - Volatility Comparison

The current volatility for Elfun Tax Exempt Income Fund (ELFTX) is 1.04%, while State Street U.S. Core Equity Fund (SSAQX) has a volatility of 4.30%. This indicates that ELFTX experiences smaller price fluctuations and is considered to be less risky than SSAQX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ELFTX	SSAQX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.04%	4.30%	-3.26%
Volatility (6M) Calculated over the trailing 6-month period	1.66%	9.07%	-7.41%
Volatility (1Y) Calculated over the trailing 1-year period	5.12%	17.86%	-12.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.86%	19.02%	-15.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.84%	19.02%	-15.18%