FOINX vs. SSAFX
FOINX (Tributary Income Fund) and SSAFX (State Street Aggregate Bond Index Portfolio) are both Intermediate Core Bond funds. Over the past 10 years, FOINX returned 1.67%/yr vs 27.82%/yr for SSAFX. Their correlation of 0.92 suggests significant overlap in exposure. FOINX charges 0.63%/yr vs 0.02%/yr for SSAFX.
Performance
FOINX vs. SSAFX - Performance Comparison
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Returns By Period
In the year-to-date period, FOINX achieves a 0.25% return, which is significantly lower than SSAFX's 0.62% return. Over the past 10 years, FOINX has underperformed SSAFX with an annualized return of 1.67%, while SSAFX has yielded a comparatively higher 27.82% annualized return.
FOINX
- 1D
- 0.22%
- 1M
- 0.82%
- YTD
- 0.25%
- 6M
- 0.41%
- 1Y
- 4.48%
- 3Y*
- 4.19%
- 5Y*
- 0.06%
- 10Y*
- 1.67%
SSAFX
- 1D
- 0.27%
- 1M
- 0.90%
- YTD
- 0.62%
- 6M
- 0.77%
- 1Y
- 4.76%
- 3Y*
- 3.94%
- 5Y*
- -0.06%
- 10Y*
- 27.82%
FOINX vs. SSAFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FOINX Tributary Income Fund | 0.25% | 7.37% | 1.59% | 5.98% | -13.33% | -1.51% | 7.07% | 8.42% | 0.02% | 4.09% |
SSAFX State Street Aggregate Bond Index Portfolio | 0.62% | 6.81% | 1.34% | 5.61% | -13.30% | -1.72% | 978.57% | 8.69% | -0.12% | 3.38% |
Correlation
The correlation between FOINX and SSAFX is 0.93, 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 | 0.93 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.95 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.96 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.93 |
Correlation (All Time) Calculated using the full available price history since Sep 22, 2014 | 0.92 |
The correlation between FOINX and SSAFX has been stable across timeframes, ranging from 0.92 to 0.96 - a consistent structural relationship.
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Return for Risk
FOINX vs. SSAFX — Risk / Return Rank
FOINX
SSAFX
FOINX vs. SSAFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Tributary Income Fund (FOINX) and State Street Aggregate Bond Index Portfolio (SSAFX). 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.
| FOINX | SSAFX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.17 | ||
| Sortino ratioReturn per unit of downside risk | -0.28 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.23 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.38 | 1.76 | -0.38 |
| Martin ratioReturn relative to average drawdown | 3.96 | 5.07 | -1.11 |
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Drawdowns
FOINX vs. SSAFX - Drawdown Comparison
The maximum FOINX drawdown since its inception was -18.20%, roughly equal to the maximum SSAFX drawdown of -18.74%. Use the drawdown chart below to compare losses from any high point for FOINX and SSAFX.
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Drawdown Indicators
| FOINX | SSAFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.20% | -18.74% | +0.54% |
Max Drawdown (1Y)Largest decline over 1 year | -3.25% | -2.74% | -0.51% |
Max Drawdown (3Y)Largest decline over 3 years | -6.02% | -6.09% | +0.07% |
Max Drawdown (5Y)Largest decline over 5 years | -17.84% | -18.10% | +0.26% |
Max Drawdown (10Y)Largest decline over 10 years | -18.20% | -18.74% | +0.54% |
Current DrawdownCurrent decline from peak | -1.71% | -2.42% | +0.71% |
Average DrawdownAverage peak-to-trough decline | -2.47% | -4.40% | +1.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.13% | 0.95% | +0.18% |
Volatility
FOINX vs. SSAFX - Volatility Comparison
Tributary Income Fund (FOINX) has a higher volatility of 1.22% compared to State Street Aggregate Bond Index Portfolio (SSAFX) at 1.14%. This indicates that FOINX's price experiences larger fluctuations and is considered to be riskier than SSAFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FOINX | SSAFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.22% | 1.14% | +0.08% |
Volatility (6M)Calculated over the trailing 6-month period | 2.94% | 2.72% | +0.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.92% | 3.67% | +0.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.86% | 5.95% | -0.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.85% | 277.40% | -272.55% |
FOINX vs. SSAFX - Expense Ratio Comparison
FOINX has a 0.63% expense ratio, which is higher than SSAFX's 0.02% expense ratio.
Dividends
FOINX vs. SSAFX - Dividend Comparison
FOINX's dividend yield for the trailing twelve months is around 3.32%, less than SSAFX's 4.15% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FOINX Tributary Income Fund | 3.32% | 3.49% | 2.91% | 2.98% | 2.69% | 2.30% | 2.43% | 2.98% | 2.98% | 3.03% | 2.77% | 2.36% |
SSAFX State Street Aggregate Bond Index Portfolio | 4.15% | 3.70% | 3.76% | 3.16% | 2.49% | 1.90% | 2.41% | 2.88% | 2.82% | 2.42% | 2.21% | 3.21% |
Frequently Asked Questions
With a correlation of 0.93, FOINX and SSAFX 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.
FOINX has higher volatility (1.22%) compared to SSAFX (1.14%). In terms of maximum drawdown, FOINX dropped -18.20% vs SSAFX's -18.74%.
SSAFX currently has the higher Sharpe Ratio (1.32 vs 1.15), 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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