SDMGX vs. SSMGX

Last updated Jun 3, 2026

SDMGX (SIT Developing Markets Growth Fund) and SSMGX (SIT Small Cap Growth Fund) are both mutual funds - SDMGX is a Emerging Markets Diversified fund managed by Sit, while SSMGX is a Mid Cap Growth Equities fund managed by Sit. Over the past 10 years, SDMGX returned 11.36%/yr vs 10.99%/yr for SSMGX. A 0.64 correlation means they provide meaningful diversification when combined. SDMGX charges 1.20%/yr vs 1.50%/yr for SSMGX.

Performance

SDMGX vs. SSMGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SIT Developing Markets Growth Fund (SDMGX) and SIT Small Cap Growth Fund (SSMGX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SDMGX achieves a 27.59% return, which is significantly higher than SSMGX's 16.12% return. Both investments have delivered pretty close results over the past 10 years, with SDMGX having a 11.36% annualized return and SSMGX not far behind at 10.99%.

SDMGX

• 1D: 1.99%
• 1M: 12.85%
• YTD: 27.59%
• 6M: 31.80%
• 1Y: 60.03%
• 3Y*: 25.93%
• 5Y*: 8.86%
• 10Y*: 11.36%

SSMGX

• 1D: -0.10%
• 1M: -1.99%
• YTD: 16.12%
• 6M: 16.86%
• 1Y: 33.46%
• 3Y*: 16.26%
• 5Y*: 5.63%
• 10Y*: 10.99%

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

SDMGX vs. SSMGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SDMGX SIT Developing Markets Growth Fund	27.59%	36.11%	13.58%	7.37%	-17.23%	-8.88%	23.14%	19.77%	-14.76%	43.22%
SSMGX SIT Small Cap Growth Fund	16.12%	9.40%	13.42%	16.93%	-25.59%	15.80%	35.97%	29.19%	-10.88%	15.69%

Correlation

The correlation between SDMGX and SSMGX is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.51
Correlation (3Y) Calculated over the trailing 3-year period	0.58
Correlation (5Y) Calculated over the trailing 5-year period	0.63
Correlation (10Y) Calculated over the trailing 10-year period	0.64
Correlation (All Time) Calculated using the full available price history since Dec 7, 1995	0.64

The correlation between SDMGX and SSMGX shifts across timeframes, from 0.51 (1 year) to 0.64 (all time), reflecting how their relationship changes across market environments.

Return for Risk

SDMGX vs. SSMGX — Risk / Return Rank

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

SDMGX

SDMGX Risk / Return Rank: 91
SDMGX Sharpe Ratio Rank: 95
SDMGX Sortino Ratio Rank: 89
SDMGX Omega Ratio Rank: 88
SDMGX Calmar Ratio Rank: 90
SDMGX Martin Ratio Rank: 91

SSMGX

SSMGX Risk / Return Rank: 50
SSMGX Sharpe Ratio Rank: 40
SSMGX Sortino Ratio Rank: 38
SSMGX Omega Ratio Rank: 38
SSMGX Calmar Ratio Rank: 72
SSMGX Martin Ratio Rank: 63

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.

SDMGX vs. SSMGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SIT Developing Markets Growth Fund (SDMGX) and SIT Small Cap Growth Fund (SSMGX). 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.

	SDMGX	SSMGX	Difference
Sharpe ratio Return per unit of total volatility	3.31	1.86	+1.45
Sortino ratio Return per unit of downside risk	4.30	2.58	+1.71
Omega ratio Gain probability vs. loss probability	1.61	1.33	+0.28
Calmar ratio Return relative to maximum drawdown	4.67	3.31	+1.36
Martin ratio Return relative to average drawdown	18.94	12.47	+6.47
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SDMGX vs. SSMGX - Sharpe Ratio Comparison

The current SDMGX Sharpe Ratio is 3.31, which is higher than the SSMGX Sharpe Ratio of 1.86. The chart below compares the historical Sharpe Ratios of SDMGX and SSMGX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SDMGX	SSMGX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.31	1.86	+1.45
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.46	0.26	+0.20
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.59	0.51	+0.08
Sharpe Ratio (All Time) Calculated using the full available price history	0.28	0.37	-0.09

Drawdowns

SDMGX vs. SSMGX - Drawdown Comparison

The maximum SDMGX drawdown since its inception was -67.12%, roughly equal to the maximum SSMGX drawdown of -65.75%. Use the drawdown chart below to compare losses from any high point for SDMGX and SSMGX.

Drawdown Indicators

	SDMGX	SSMGX	Difference
Max Drawdown Largest peak-to-trough decline	-67.12%	-65.75%	-1.37%
Max Drawdown (1Y) Largest decline over 1 year	-13.00%	-10.05%	-2.95%
Max Drawdown (3Y) Largest decline over 3 years	-18.90%	-26.67%	+7.77%
Max Drawdown (5Y) Largest decline over 5 years	-39.80%	-34.37%	-5.43%
Max Drawdown (10Y) Largest decline over 10 years	-44.63%	-35.72%	-8.91%
Current Drawdown Current decline from peak	0.00%	-2.66%	+2.66%
Average Drawdown Average peak-to-trough decline	-23.60%	-19.05%	-4.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.21%	2.67%	+0.54%

Volatility

SDMGX vs. SSMGX - Volatility Comparison

SIT Developing Markets Growth Fund (SDMGX) has a higher volatility of 7.51% compared to SIT Small Cap Growth Fund (SSMGX) at 4.82%. This indicates that SDMGX's price experiences larger fluctuations and is considered to be riskier than SSMGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SDMGX	SSMGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.51%	4.82%	+2.69%
Volatility (6M) Calculated over the trailing 6-month period	15.29%	13.91%	+1.38%
Volatility (1Y) Calculated over the trailing 1-year period	18.61%	18.04%	+0.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.45%	21.84%	-2.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.36%	21.58%	-2.22%

SDMGX vs. SSMGX - Expense Ratio Comparison

SDMGX has a 1.20% expense ratio, which is lower than SSMGX's 1.50% expense ratio.

Dividends

SDMGX vs. SSMGX - Dividend Comparison

SDMGX's dividend yield for the trailing twelve months is around 0.68%, less than SSMGX's 4.72% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SDMGX SIT Developing Markets Growth Fund	0.68%	0.87%	4.13%	2.03%	2.44%	2.13%	0.26%	1.75%	1.67%	1.45%	0.27%	3.13%
SSMGX SIT Small Cap Growth Fund	4.72%	5.48%	4.69%	3.13%	1.73%	15.89%	3.44%	3.14%	9.80%	6.81%	0.17%	10.68%

Frequently Asked Questions

Can I hold both SDMGX and SSMGX in my portfolio?

SDMGX and SSMGX have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SDMGX or SSMGX?

SDMGX has higher volatility (7.51%) compared to SSMGX (4.82%). In terms of maximum drawdown, SDMGX dropped -67.12% vs SSMGX's -65.75%.

Which has better risk-adjusted returns?

SDMGX currently has the higher Sharpe Ratio (3.31 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.