NCTWX vs. SSMHX
Compare and contrast key facts about Nicholas II Fund (NCTWX) and State Street Small/Mid Cap Equity Index Portfolio (SSMHX).
NCTWX is managed by Nicholas. It was launched on Oct 17, 1983. SSMHX is managed by State Street. It was launched on Aug 11, 2015.
Performance
NCTWX vs. SSMHX - Performance Comparison
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NCTWX vs. SSMHX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NCTWX Nicholas II Fund | -7.78% | -1.27% | 6.74% | 19.89% | -18.03% | 21.58% | 15.73% | 34.90% | -4.20% | 25.65% |
SSMHX State Street Small/Mid Cap Equity Index Portfolio | -1.18% | 12.90% | 10.73% | 25.21% | -25.43% | 13.08% | 32.46% | 28.00% | -9.21% | 18.26% |
Returns By Period
In the year-to-date period, NCTWX achieves a -7.78% return, which is significantly lower than SSMHX's -1.18% return. Over the past 10 years, NCTWX has underperformed SSMHX with an annualized return of 8.52%, while SSMHX has yielded a comparatively higher 10.75% annualized return.
NCTWX
- 1D
- 2.50%
- 1M
- -8.22%
- YTD
- -7.78%
- 6M
- -9.37%
- 1Y
- -5.52%
- 3Y*
- 3.31%
- 5Y*
- 1.73%
- 10Y*
- 8.52%
SSMHX
- 1D
- 3.42%
- 1M
- -5.59%
- YTD
- -1.18%
- 6M
- -0.87%
- 1Y
- 21.11%
- 3Y*
- 13.45%
- 5Y*
- 3.62%
- 10Y*
- 10.75%
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NCTWX vs. SSMHX - Expense Ratio Comparison
NCTWX has a 0.59% expense ratio, which is higher than SSMHX's 0.02% expense ratio.
Return for Risk
NCTWX vs. SSMHX — Risk / Return Rank
NCTWX
SSMHX
NCTWX vs. SSMHX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nicholas II Fund (NCTWX) and State Street Small/Mid Cap Equity Index Portfolio (SSMHX). 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.
| NCTWX | SSMHX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.25 | 0.97 | -1.22 |
Sortino ratioReturn per unit of downside risk | -0.24 | 1.48 | -1.72 |
Omega ratioGain probability vs. loss probability | 0.97 | 1.20 | -0.23 |
Calmar ratioReturn relative to maximum drawdown | -0.31 | 1.47 | -1.79 |
Martin ratioReturn relative to average drawdown | -0.91 | 6.20 | -7.11 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| NCTWX | SSMHX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.25 | 0.97 | -1.22 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.10 | 0.16 | -0.07 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.47 | 0.48 | -0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.57 | 0.42 | +0.16 |
Correlation
The correlation between NCTWX and SSMHX is 0.90, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
NCTWX vs. SSMHX - Dividend Comparison
NCTWX's dividend yield for the trailing twelve months is around 13.48%, more than SSMHX's 7.21% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NCTWX Nicholas II Fund | 13.48% | 12.43% | 5.21% | 0.72% | 3.92% | 9.86% | 3.79% | 11.36% | 12.57% | 11.02% | 5.11% | 6.40% |
SSMHX State Street Small/Mid Cap Equity Index Portfolio | 7.21% | 7.12% | 0.00% | 1.56% | 2.31% | 16.30% | 2.91% | 3.65% | 6.43% | 4.01% | 1.71% | 0.73% |
Drawdowns
NCTWX vs. SSMHX - Drawdown Comparison
The maximum NCTWX drawdown since its inception was -46.46%, which is greater than SSMHX's maximum drawdown of -41.61%. Use the drawdown chart below to compare losses from any high point for NCTWX and SSMHX.
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Drawdown Indicators
| NCTWX | SSMHX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.46% | -41.61% | -4.85% |
Max Drawdown (1Y)Largest decline over 1 year | -15.43% | -14.48% | -0.95% |
Max Drawdown (5Y)Largest decline over 5 years | -25.89% | -34.84% | +8.95% |
Max Drawdown (10Y)Largest decline over 10 years | -36.61% | -41.61% | +5.00% |
Current DrawdownCurrent decline from peak | -15.39% | -6.95% | -8.44% |
Average DrawdownAverage peak-to-trough decline | -6.87% | -9.27% | +2.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.27% | 3.44% | +1.83% |
Volatility
NCTWX vs. SSMHX - Volatility Comparison
The current volatility for Nicholas II Fund (NCTWX) is 5.61%, while State Street Small/Mid Cap Equity Index Portfolio (SSMHX) has a volatility of 6.97%. This indicates that NCTWX experiences smaller price fluctuations and is considered to be less risky than SSMHX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NCTWX | SSMHX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.61% | 6.97% | -1.36% |
Volatility (6M)Calculated over the trailing 6-month period | 11.47% | 13.22% | -1.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.80% | 22.65% | -2.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.04% | 22.43% | -4.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.26% | 22.35% | -4.09% |