PEXMX vs. SSMHX
PEXMX (T. Rowe Price Extended Equity Market Index Fund) and SSMHX (State Street Small/Mid Cap Equity Index Portfolio) are both Mid Cap Growth Equities funds. Over the past 10 years, PEXMX returned 12.22%/yr vs 11.94%/yr for SSMHX. With a 0.98 correlation, they move nearly in lockstep. PEXMX charges 0.23%/yr vs 0.02%/yr for SSMHX.
Performance
PEXMX vs. SSMHX - Performance Comparison
Loading charts...
Returns By Period
The year-to-date returns for both stocks are quite close, with PEXMX having a 14.63% return and SSMHX slightly lower at 14.18%. Both investments have delivered pretty close results over the past 10 years, with PEXMX having a 12.22% annualized return and SSMHX not far behind at 11.94%.
PEXMX
- 1D
- 1.08%
- 1M
- 5.79%
- YTD
- 14.63%
- 6M
- 13.30%
- 1Y
- 29.74%
- 3Y*
- 19.87%
- 5Y*
- 6.84%
- 10Y*
- 12.22%
SSMHX
- 1D
- 1.00%
- 1M
- 5.71%
- YTD
- 14.18%
- 6M
- 13.12%
- 1Y
- 29.97%
- 3Y*
- 18.16%
- 5Y*
- 6.39%
- 10Y*
- 11.94%
PEXMX vs. SSMHX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PEXMX T. Rowe Price Extended Equity Market Index Fund | 14.63% | 11.17% | 16.72% | 25.32% | -26.15% | 12.09% | 30.80% | 32.57% | -9.61% | 16.63% |
SSMHX State Street Small/Mid Cap Equity Index Portfolio | 14.18% | 12.90% | 10.73% | 25.21% | -25.43% | 13.08% | 32.46% | 28.00% | -9.21% | 18.26% |
Correlation
The correlation between PEXMX and SSMHX is 0.97 - 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 | 0.97 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.96 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.98 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.98 |
Correlation (All Time) Calculated using the full available price history since Aug 18, 2015 | 0.98 |
The correlation between PEXMX and SSMHX has been stable across timeframes, ranging from 0.96 to 0.98 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
PEXMX vs. SSMHX — Risk / Return Rank
PEXMX
SSMHX
PEXMX vs. SSMHX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Extended Equity Market Index Fund (PEXMX) 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.
| PEXMX | SSMHX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.02 | ||
| Sortino ratioReturn per unit of downside risk | -0.01 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.32 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 3.17 | 3.18 | -0.02 |
| Martin ratioReturn relative to average drawdown | 11.18 | 11.56 | -0.38 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| PEXMX | SSMHX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.86 | 1.89 | -0.02 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.31 | 0.29 | +0.02 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.55 | 0.54 | +0.02 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.40 | 0.48 | -0.07 |
Drawdowns
PEXMX vs. SSMHX - Drawdown Comparison
The maximum PEXMX drawdown since its inception was -57.82%, which is greater than SSMHX's maximum drawdown of -41.61%. Use the drawdown chart below to compare losses from any high point for PEXMX and SSMHX.
Loading charts...
Drawdown Indicators
| PEXMX | SSMHX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.82% | -41.61% | -16.21% |
Max Drawdown (1Y)Largest decline over 1 year | -10.30% | -10.03% | -0.27% |
Max Drawdown (3Y)Largest decline over 3 years | -27.01% | -30.38% | +3.37% |
Max Drawdown (5Y)Largest decline over 5 years | -36.27% | -34.84% | -1.43% |
Max Drawdown (10Y)Largest decline over 10 years | -41.27% | -41.61% | +0.34% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -13.62% | -9.15% | -4.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.88% | 2.76% | +0.12% |
Volatility
PEXMX vs. SSMHX - Volatility Comparison
T. Rowe Price Extended Equity Market Index Fund (PEXMX) and State Street Small/Mid Cap Equity Index Portfolio (SSMHX) have volatilities of 4.68% and 4.70%, 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.
Loading charts...
Volatility by Period
| PEXMX | SSMHX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.68% | 4.70% | -0.02% |
Volatility (6M)Calculated over the trailing 6-month period | 13.24% | 12.36% | +0.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.49% | 16.90% | +0.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.46% | 22.41% | +0.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.25% | 22.39% | -0.14% |
PEXMX vs. SSMHX - Expense Ratio Comparison
PEXMX has a 0.23% expense ratio, which is higher than SSMHX'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
PEXMX vs. SSMHX - Dividend Comparison
PEXMX's dividend yield for the trailing twelve months is around 3.51%, less than SSMHX's 6.24% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PEXMX T. Rowe Price Extended Equity Market Index Fund | 3.51% | 4.02% | 7.64% | 3.64% | 7.53% | 14.87% | 2.99% | 8.17% | 6.67% | 4.50% | 5.90% | 4.81% |
SSMHX State Street Small/Mid Cap Equity Index Portfolio | 6.24% | 7.12% | 0.00% | 1.56% | 2.31% | 16.30% | 2.91% | 3.65% | 6.43% | 4.01% | 1.71% | 0.73% |
Frequently Asked Questions
With a correlation of 0.97, PEXMX and SSMHX 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.
SSMHX has higher volatility (4.70%) compared to PEXMX (4.68%). In terms of maximum drawdown, PEXMX dropped -57.82% vs SSMHX's -41.61%.
SSMHX currently has the higher Sharpe Ratio (1.89 vs 1.86), 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.
Find the right allocation for PEXMX and SSMHX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer