SIVIX vs. BOSOX

Last updated Jun 23, 2026

SIVIX (State Street Institutional Small-Cap Equity Fund) and BOSOX (Boston Trust Small Cap Fund) are both Small Cap Blend Equities funds. Over the past 10 years, SIVIX returned 9.82%/yr vs 10.61%/yr for BOSOX. With a 0.96 correlation, they move nearly in lockstep. SIVIX charges 0.75%/yr vs 1.00%/yr for BOSOX.

Performance

SIVIX vs. BOSOX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street Institutional Small-Cap Equity Fund (SIVIX) and Boston Trust Small Cap Fund (BOSOX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SIVIX achieves a 12.16% return, which is significantly higher than BOSOX's 10.25% return. Over the past 10 years, SIVIX has underperformed BOSOX with an annualized return of 9.82%, while BOSOX has yielded a comparatively higher 10.61% annualized return.

SIVIX

• 1D: 1.91%
• 1M: 3.84%
• YTD: 12.16%
• 6M: 9.63%
• 1Y: 19.27%
• 3Y*: 10.31%
• 5Y*: 5.56%
• 10Y*: 9.82%

BOSOX

• 1D: 1.22%
• 1M: 3.92%
• YTD: 10.25%
• 6M: 7.09%
• 1Y: 12.15%
• 3Y*: 8.22%
• 5Y*: 6.17%
• 10Y*: 10.61%

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

SIVIX vs. BOSOX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SIVIX State Street Institutional Small-Cap Equity Fund	12.16%	0.64%	10.83%	14.23%	-14.99%	21.48%	15.19%	26.69%	-10.13%	13.22%
BOSOX Boston Trust Small Cap Fund	10.25%	-4.04%	12.52%	10.09%	-9.05%	28.10%	8.27%	38.35%	-6.01%	12.24%

Correlation

The correlation between SIVIX and BOSOX is 0.91, 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	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (10Y) Calculated over the trailing 10-year period	0.95
Correlation (All Time) Calculated using the full available price history since Dec 19, 2005	0.96

The correlation between SIVIX and BOSOX has been stable across timeframes, ranging from 0.91 to 0.96 - a consistent structural relationship.

Return for Risk

SIVIX vs. BOSOX — Risk / Return Rank

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

SIVIX

SIVIX Risk / Return Rank: 21
SIVIX Sharpe Ratio Rank: 18
SIVIX Sortino Ratio Rank: 20
SIVIX Omega Ratio Rank: 17
SIVIX Calmar Ratio Rank: 25
SIVIX Martin Ratio Rank: 25

BOSOX

BOSOX Risk / Return Rank: 11
BOSOX Sharpe Ratio Rank: 10
BOSOX Sortino Ratio Rank: 11
BOSOX Omega Ratio Rank: 10
BOSOX Calmar Ratio Rank: 12
BOSOX Martin Ratio Rank: 12

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.

SIVIX vs. BOSOX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street Institutional Small-Cap Equity Fund (SIVIX) and Boston Trust Small Cap Fund (BOSOX). 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.

	SIVIX	BOSOX	Difference
Sharpe ratio: Return per unit of total volatility	1.12	0.78	+0.34
Sortino ratio: Return per unit of downside risk	1.73	1.27	+0.46
Omega ratio: Gain probability vs. loss probability	1.20	1.14	+0.06
Calmar ratio: Return relative to maximum drawdown	1.75	1.11	+0.64
Martin ratio: Return relative to average drawdown	5.54	3.34	+2.20

SIVIX vs. BOSOX - Sharpe Ratio Comparison

The current SIVIX Sharpe Ratio is 1.12, which is higher than the BOSOX Sharpe Ratio of 0.78. The chart below compares the historical Sharpe Ratios of SIVIX and BOSOX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SIVIX vs. BOSOX - Drawdown Comparison

The maximum SIVIX drawdown since its inception was -56.52%, which is greater than BOSOX's maximum drawdown of -51.32%. Use the drawdown chart below to compare losses from any high point for SIVIX and BOSOX.

Drawdown Indicators

	SIVIX	BOSOX	Difference
Max Drawdown Largest peak-to-trough decline	-56.52%	-51.32%	-5.20%
Max Drawdown (1Y) Largest decline over 1 year	-10.92%	-10.69%	-0.23%
Max Drawdown (3Y) Largest decline over 3 years	-25.67%	-22.36%	-3.31%
Max Drawdown (5Y) Largest decline over 5 years	-26.51%	-22.36%	-4.15%
Max Drawdown (10Y) Largest decline over 10 years	-43.92%	-36.79%	-7.13%
Current Drawdown Current decline from peak	0.00%	-3.50%	+3.50%
Average Drawdown Average peak-to-trough decline	-8.81%	-7.27%	-1.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.45%	3.54%	-0.09%

Volatility

SIVIX vs. BOSOX - Volatility Comparison

State Street Institutional Small-Cap Equity Fund (SIVIX) has a higher volatility of 4.92% compared to Boston Trust Small Cap Fund (BOSOX) at 4.20%. This indicates that SIVIX's price experiences larger fluctuations and is considered to be riskier than BOSOX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SIVIX	BOSOX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.92%	4.20%	+0.72%
Volatility (6M) Calculated over the trailing 6-month period	11.97%	10.25%	+1.72%
Volatility (1Y) Calculated over the trailing 1-year period	17.13%	15.20%	+1.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.33%	17.84%	+2.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.13%	19.57%	+1.56%

SIVIX vs. BOSOX - Expense Ratio Comparison

SIVIX has a 0.75% expense ratio, which is lower than BOSOX's 1.00% expense ratio.

Dividends

SIVIX vs. BOSOX - Dividend Comparison

SIVIX's dividend yield for the trailing twelve months is around 15.68%, more than BOSOX's 4.00% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BOSOX Boston Trust Small Cap Fund	4.00%	4.41%	6.52%	0.78%	5.09%	8.93%	2.56%	12.46%	16.19%	9.13%	3.14%	18.92%
SIVIX State Street Institutional Small-Cap Equity Fund	15.68%	17.59%	10.99%	7.77%	4.87%	16.56%	3.16%	6.27%	19.92%	9.35%	3.38%	13.07%

Frequently Asked Questions

Can I hold both SIVIX and BOSOX in my portfolio?

With a correlation of 0.91, SIVIX and BOSOX 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.

Which is riskier, SIVIX or BOSOX?

SIVIX has higher volatility (4.92%) compared to BOSOX (4.20%). In terms of maximum drawdown, SIVIX dropped -56.52% vs BOSOX's -51.32%.

Which has better risk-adjusted returns?

SIVIX currently has the higher Sharpe Ratio (1.12 vs 0.78), 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.