MPHQX vs. SSASX
MPHQX (BlackRock Total Return Fund Class K) and SSASX (State Street Income Fund) are both Intermediate Core-Plus Bond funds. Over the past 5 years, MPHQX returned 0.32%/yr vs -0.82%/yr for SSASX. With a 0.95 correlation, they move nearly in lockstep. MPHQX charges 0.37%/yr vs 0.20%/yr for SSASX.
Performance
MPHQX vs. SSASX - Performance Comparison
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Returns By Period
MPHQX
- 1D
- 0.20%
- 1M
- 1.30%
- YTD
- 0.96%
- 6M
- 1.47%
- 1Y
- 6.15%
- 3Y*
- 4.62%
- 5Y*
- 0.32%
- 10Y*
- 2.20%
SSASX
- 1D
- 0.20%
- 1M
- 0.97%
- YTD
- -0.00%
- 6M
- 0.42%
- 1Y
- 4.47%
- 3Y*
- 2.98%
- 5Y*
- -0.82%
- 10Y*
- —
MPHQX vs. SSASX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
MPHQX BlackRock Total Return Fund Class K | 0.96% | 8.21% | 1.92% | 6.04% | -14.14% | 1.50% |
SSASX State Street Income Fund | -0.00% | 7.49% | -0.95% | 4.83% | -13.74% | 0.59% |
Correlation
The correlation between MPHQX and SSASX is 0.92, 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 | 0.92 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.95 |
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 MPHQX and SSASX has been stable across timeframes, ranging from 0.92 to 0.95 - a consistent structural relationship.
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Return for Risk
MPHQX vs. SSASX — Risk / Return Rank
MPHQX
SSASX
MPHQX vs. SSASX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BlackRock Total Return Fund Class K (MPHQX) 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.
| MPHQX | SSASX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.25 | ||
| Sortino ratioReturn per unit of downside risk | +0.24 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.20 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 1.47 | 1.34 | +0.12 |
| Martin ratioReturn relative to average drawdown | 3.77 | 3.76 | +0.02 |
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Drawdowns
MPHQX vs. SSASX - Drawdown Comparison
The maximum MPHQX drawdown since its inception was -21.68%, which is greater than SSASX's maximum drawdown of -19.65%. Use the drawdown chart below to compare losses from any high point for MPHQX and SSASX.
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Drawdown Indicators
| MPHQX | SSASX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.68% | -19.65% | -2.03% |
Max Drawdown (1Y)Largest decline over 1 year | -4.28% | -3.42% | -0.86% |
Max Drawdown (3Y)Largest decline over 3 years | -6.86% | -7.97% | +1.11% |
Max Drawdown (5Y)Largest decline over 5 years | -19.28% | -19.65% | +0.37% |
Max Drawdown (10Y)Largest decline over 10 years | -19.28% | — | — |
Current DrawdownCurrent decline from peak | -2.19% | -5.26% | +3.07% |
Average DrawdownAverage peak-to-trough decline | -3.79% | -9.63% | +5.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.66% | 1.22% | +0.44% |
Volatility
MPHQX vs. SSASX - Volatility Comparison
BlackRock Total Return Fund Class K (MPHQX) and State Street Income Fund (SSASX) have volatilities of 1.29% and 1.26%, 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
| MPHQX | SSASX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.29% | 1.26% | +0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 3.60% | 2.98% | +0.62% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.62% | 4.12% | +0.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.28% | 6.50% | -0.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.15% | 6.47% | -1.32% |
MPHQX vs. SSASX - Expense Ratio Comparison
MPHQX has a 0.37% expense ratio, which is higher than SSASX's 0.20% expense ratio.
Dividends
MPHQX vs. SSASX - Dividend Comparison
MPHQX's dividend yield for the trailing twelve months is around 4.77%, more than SSASX's 4.00% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MPHQX BlackRock Total Return Fund Class K | 4.77% | 4.89% | 5.01% | 4.19% | 3.09% | 2.58% | 6.30% | 3.24% | 3.40% | 3.21% | 2.89% | 3.49% |
SSASX State Street Income Fund | 4.00% | 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 0.92, MPHQX 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.
MPHQX has higher volatility (1.29%) compared to SSASX (1.26%). In terms of maximum drawdown, MPHQX dropped -21.68% vs SSASX's -19.65%.
MPHQX currently has the higher Sharpe Ratio (1.36 vs 1.11), 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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