JIBFX vs. SSAFX
JIBFX (Johnson Institutional Core Bond Fund) and SSAFX (State Street Aggregate Bond Index Portfolio) are both Intermediate Core Bond funds. Over the past 10 years, JIBFX returned 1.82%/yr vs 27.74%/yr for SSAFX. With a 0.96 correlation, they move nearly in lockstep. JIBFX charges 0.25%/yr vs 0.02%/yr for SSAFX.
Performance
JIBFX vs. SSAFX - Performance Comparison
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Returns By Period
In the year-to-date period, JIBFX achieves a 0.47% return, which is significantly higher than SSAFX's 0.33% return. Over the past 10 years, JIBFX has underperformed SSAFX with an annualized return of 1.82%, while SSAFX has yielded a comparatively higher 27.74% annualized return.
JIBFX
- 1D
- 0.28%
- 1M
- 0.97%
- YTD
- 0.47%
- 6M
- 0.66%
- 1Y
- 4.90%
- 3Y*
- 4.20%
- 5Y*
- -0.08%
- 10Y*
- 1.82%
SSAFX
- 1D
- -0.29%
- 1M
- 0.60%
- YTD
- 0.33%
- 6M
- 0.47%
- 1Y
- 4.23%
- 3Y*
- 3.80%
- 5Y*
- -0.06%
- 10Y*
- 27.74%
JIBFX vs. SSAFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
JIBFX Johnson Institutional Core Bond Fund | 0.47% | 7.87% | 1.21% | 5.43% | -13.69% | -2.04% | 9.71% | 8.95% | 0.10% | 3.73% |
SSAFX State Street Aggregate Bond Index Portfolio | 0.33% | 6.81% | 1.34% | 5.61% | -13.30% | -1.72% | 978.57% | 8.69% | -0.12% | 3.38% |
Correlation
The correlation between JIBFX and SSAFX is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.98 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.98 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.98 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.97 |
Correlation (All Time) Calculated using the full available price history since Sep 22, 2014 | 0.96 |
The correlation between JIBFX and SSAFX has been stable across timeframes, ranging from 0.96 to 0.98 - a consistent structural relationship.
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Return for Risk
JIBFX vs. SSAFX — Risk / Return Rank
JIBFX
SSAFX
JIBFX vs. SSAFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Johnson Institutional Core Bond Fund (JIBFX) 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.
| JIBFX | SSAFX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.05 | ||
| Sortino ratioReturn per unit of downside risk | +0.06 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.21 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.61 | 1.63 | -0.02 |
| Martin ratioReturn relative to average drawdown | 4.58 | 4.67 | -0.09 |
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Drawdowns
JIBFX vs. SSAFX - Drawdown Comparison
The maximum JIBFX drawdown since its inception was -19.54%, roughly equal to the maximum SSAFX drawdown of -18.74%. Use the drawdown chart below to compare losses from any high point for JIBFX and SSAFX.
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Drawdown Indicators
| JIBFX | SSAFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.54% | -18.74% | -0.80% |
Max Drawdown (1Y)Largest decline over 1 year | -3.11% | -2.74% | -0.37% |
Max Drawdown (3Y)Largest decline over 3 years | -7.02% | -6.09% | -0.93% |
Max Drawdown (5Y)Largest decline over 5 years | -18.96% | -18.10% | -0.86% |
Max Drawdown (10Y)Largest decline over 10 years | -19.54% | -18.74% | -0.80% |
Current DrawdownCurrent decline from peak | -2.62% | -2.71% | +0.09% |
Average DrawdownAverage peak-to-trough decline | -5.16% | -4.40% | -0.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.09% | 0.96% | +0.13% |
Volatility
JIBFX vs. SSAFX - Volatility Comparison
Johnson Institutional Core Bond Fund (JIBFX) has a higher volatility of 1.18% compared to State Street Aggregate Bond Index Portfolio (SSAFX) at 1.08%. This indicates that JIBFX'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
| JIBFX | SSAFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.18% | 1.08% | +0.10% |
Volatility (6M)Calculated over the trailing 6-month period | 2.91% | 2.74% | +0.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.97% | 3.69% | +0.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.54% | 5.95% | +0.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.33% | 277.57% | -272.24% |
JIBFX vs. SSAFX - Expense Ratio Comparison
JIBFX has a 0.25% expense ratio, which is higher than SSAFX's 0.02% 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
JIBFX vs. SSAFX - Dividend Comparison
JIBFX's dividend yield for the trailing twelve months is around 3.91%, less than SSAFX's 4.17% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
JIBFX Johnson Institutional Core Bond Fund | 3.91% | 3.85% | 3.69% | 2.92% | 2.41% | 1.75% | 3.11% | 2.76% | 2.77% | 2.52% | 3.03% | 2.60% |
SSAFX State Street Aggregate Bond Index Portfolio | 4.17% | 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 0.98, JIBFX 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.
JIBFX has higher volatility (1.18%) compared to SSAFX (1.08%). In terms of maximum drawdown, JIBFX dropped -19.54% vs SSAFX's -18.74%.
JIBFX currently has the higher Sharpe Ratio (1.26 vs 1.21), 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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