SBMAX vs. ^GSPC

Last updated Apr 2, 2026

Compare and contrast key facts about ClearBridge Mid Cap Fund (SBMAX) and S&P 500 Index (^GSPC).

SBMAX is managed by Franklin Templeton. It was launched on Sep 1, 1998.

Performance

SBMAX vs. ^GSPC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ClearBridge Mid Cap Fund (SBMAX) and S&P 500 Index (^GSPC). The values are adjusted to include any dividend payments, if applicable.

SBMAX vs. ^GSPC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SBMAX ClearBridge Mid Cap Fund	-2.71%	4.21%	9.79%	13.51%	-25.19%	28.37%	16.25%	32.77%	-12.92%	12.69%
^GSPC S&P 500 Index	-3.95%	16.39%	23.31%	24.23%	-19.44%	26.89%	16.26%	28.88%	-6.24%	19.42%

Returns By Period

In the year-to-date period, SBMAX achieves a -2.71% return, which is significantly higher than ^GSPC's -3.95% return. Over the past 10 years, SBMAX has underperformed ^GSPC with an annualized return of 7.37%, while ^GSPC has yielded a comparatively higher 12.24% annualized return.

SBMAX

• 1D: 2.63%
• 1M: -7.34%
• YTD: -2.71%
• 6M: -6.20%
• 1Y: 8.12%
• 3Y*: 7.49%
• 5Y*: 1.47%
• 10Y*: 7.37%

^GSPC

• 1D: 0.72%
• 1M: -4.45%
• YTD: -3.95%
• 6M: -2.02%
• 1Y: 16.73%
• 3Y*: 16.96%
• 5Y*: 10.34%
• 10Y*: 12.24%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

SBMAX vs. ^GSPC — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SBMAX

SBMAX Risk / Return Rank: 15
SBMAX Sharpe Ratio Rank: 13
SBMAX Sortino Ratio Rank: 13
SBMAX Omega Ratio Rank: 14
SBMAX Calmar Ratio Rank: 16
SBMAX Martin Ratio Rank: 18

^GSPC

^GSPC Risk / Return Rank: 67
^GSPC Sharpe Ratio Rank: 63
^GSPC Sortino Ratio Rank: 64
^GSPC Omega Ratio Rank: 69
^GSPC Calmar Ratio Rank: 60
^GSPC Martin Ratio Rank: 77

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SBMAX vs. ^GSPC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ClearBridge Mid Cap Fund (SBMAX) and S&P 500 Index (^GSPC). 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.

	SBMAX	^GSPC	Difference
Sharpe ratio Return per unit of total volatility	0.43	0.92	-0.49
Sortino ratio Return per unit of downside risk	0.73	1.41	-0.68
Omega ratio Gain probability vs. loss probability	1.11	1.21	-0.11
Calmar ratio Return relative to maximum drawdown	0.60	1.41	-0.81
Martin ratio Return relative to average drawdown	2.24	6.61	-4.38
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SBMAX vs. ^GSPC - Sharpe Ratio Comparison

The current SBMAX Sharpe Ratio is 0.43, which is lower than the ^GSPC Sharpe Ratio of 0.92. The chart below compares the historical Sharpe Ratios of SBMAX and ^GSPC, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	SBMAX	^GSPC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.43	0.92	-0.49
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.07	0.61	-0.54
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.37	0.68	-0.31
Sharpe Ratio (All Time) Calculated using the full available price history	0.44	0.46	-0.02

Correlation

The correlation between SBMAX and ^GSPC is 0.89, 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.

Drawdowns

SBMAX vs. ^GSPC - Drawdown Comparison

The maximum SBMAX drawdown since its inception was -52.41%, smaller than the maximum ^GSPC drawdown of -56.78%. Use the drawdown chart below to compare losses from any high point for SBMAX and ^GSPC.

Drawdown Indicators

	SBMAX	^GSPC	Difference
Max Drawdown Largest peak-to-trough decline	-52.41%	-56.78%	+4.37%
Max Drawdown (1Y) Largest decline over 1 year	-14.19%	-12.14%	-2.05%
Max Drawdown (5Y) Largest decline over 5 years	-31.55%	-25.43%	-6.12%
Max Drawdown (10Y) Largest decline over 10 years	-39.88%	-33.92%	-5.96%
Current Drawdown Current decline from peak	-7.96%	-5.78%	-2.18%
Average Drawdown Average peak-to-trough decline	-9.71%	-10.75%	+1.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.81%	2.60%	+1.21%

Volatility

SBMAX vs. ^GSPC - Volatility Comparison

ClearBridge Mid Cap Fund (SBMAX) has a higher volatility of 6.57% compared to S&P 500 Index (^GSPC) at 5.37%. This indicates that SBMAX's price experiences larger fluctuations and is considered to be riskier than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SBMAX	^GSPC	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.57%	5.37%	+1.20%
Volatility (6M) Calculated over the trailing 6-month period	11.31%	9.55%	+1.76%
Volatility (1Y) Calculated over the trailing 1-year period	20.25%	18.33%	+1.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.84%	16.90%	+2.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.23%	18.05%	+2.18%