SIVIX vs. FTHSX

Last updated Aug 1, 2026

SIVIX (State Street Institutional Small-Cap Equity Fund) and FTHSX (FullerThaler Behavioral Small-Cap Equity Fund Class I) are both Small Cap Blend Equities funds. Over the past 10 years, SIVIX returned 9.52%/yr vs 14.11%/yr for FTHSX. Their correlation of 0.95 means they have usually moved in the same direction. SIVIX charges 0.75%/yr vs 0.76%/yr for FTHSX.

Performance

SIVIX vs. FTHSX - Performance Comparison

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

Returns By Period

In the year-to-date period, SIVIX achieves a 14.27% return, which is significantly lower than FTHSX's 17.10% return. Over the past 10 years, SIVIX has underperformed FTHSX with an annualized return of 9.52%, while FTHSX has yielded a comparatively higher 14.11% annualized return.

SIVIX

• 1D: 0.48%
• 1M: -0.71%
• 6M: 9.51%
• YTD: 14.27%
• 1Y: 19.46%
• 3Y*: 8.84%
• 5Y*: 5.33%
• 10Y*: 9.52%
• ALL TIME*: 9.19%

FTHSX

• 1D: 0.57%
• 1M: 1.95%
• 6M: 13.13%
• YTD: 17.10%
• 1Y: 29.00%
• 3Y*: 18.16%
• 5Y*: 12.97%
• 10Y*: 14.11%
• ALL TIME*: 13.75%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FTHSX FullerThaler Behavioral Small-Cap Equity Fund Class I	$0.00	$0.00	$0.00
SIVIX State Street Institutional Small-Cap Equity Fund	$0.00	$0.00	$0.00

SIVIX vs. FTHSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SIVIX State Street Institutional Small-Cap Equity Fund	14.27%	0.64%	10.83%	14.23%	-14.99%	21.48%	15.19%	26.69%	-10.13%	13.22%
FTHSX FullerThaler Behavioral Small-Cap Equity Fund Class I	17.10%	12.02%	16.17%	22.55%	-7.49%	30.83%	10.38%	28.06%	-13.18%	17.35%

Correlation

The correlation between SIVIX and FTHSX is 0.92, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.92
Correlation (3Y) Balances recent behavior with more history.	0.94
Correlation (5Y) Shows whether the relationship held over a longer period.	0.95
Correlation (10Y) Provides a long-term view across more market conditions.	0.95
Correlation (All Time) Calculated using the full available price history since Oct 28, 2015	0.95

The correlation between SIVIX and FTHSX has been stable across timeframes, ranging from 0.92 to 0.95 - a consistent structural relationship.

Return for Risk

SIVIX vs. FTHSX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

SIVIX

SIVIX Risk / Return Rank: 30
SIVIX Sharpe Ratio Rank: 27
SIVIX Sortino Ratio Rank: 30
SIVIX Omega Ratio Rank: 26
SIVIX Calmar Ratio Rank: 33
SIVIX Martin Ratio Rank: 31

FTHSX

FTHSX Risk / Return Rank: 78
FTHSX Sharpe Ratio Rank: 76
FTHSX Sortino Ratio Rank: 77
FTHSX Omega Ratio Rank: 71
FTHSX Calmar Ratio Rank: 83
FTHSX Martin Ratio Rank: 82

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

SIVIX vs. FTHSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street Institutional Small-Cap Equity Fund (SIVIX) and FullerThaler Behavioral Small-Cap Equity Fund Class I (FTHSX). 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	FTHSX	Difference
Sharpe ratio: Return per unit of total volatility	0.95	1.78	-0.83
Sortino ratio: Return per unit of downside risk	1.51	2.65	-1.14
Omega ratio: Gain probability vs. loss probability	1.17	1.31	-0.14
Calmar ratio: Return relative to maximum drawdown	1.47	2.81	-1.35
Martin ratio: Return relative to average drawdown	4.70	10.13	-5.42

SIVIX vs. FTHSX - Sharpe Ratio Comparison

The current SIVIX Sharpe Ratio is 0.95, which is lower than the FTHSX Sharpe Ratio of 1.78. The chart below compares the historical Sharpe Ratios of SIVIX and FTHSX, 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. FTHSX - Drawdown Comparison

The maximum SIVIX drawdown since its inception was -56.52%, which is greater than FTHSX's maximum drawdown of -37.74%. Use the drawdown chart below to compare losses from any high point for SIVIX and FTHSX.

Drawdown Indicators

	SIVIX	FTHSX	Difference
Max Drawdown Largest peak-to-trough decline	-56.52%	-37.74%	-18.78%
Max Drawdown (1Y) Largest decline over 1 year	-10.92%	-9.42%	-1.50%
Max Drawdown (3Y) Largest decline over 3 years	-25.67%	-24.58%	-1.09%
Max Drawdown (5Y) Largest decline over 5 years	-26.51%	-24.58%	-1.93%
Max Drawdown (10Y) Largest decline over 10 years	-43.92%	-37.74%	-6.18%
Current Drawdown Current decline from peak	-1.18%	-0.51%	-0.67%
Average Drawdown Average peak-to-trough decline	-8.78%	-5.57%	-3.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.42%	2.61%	+0.81%

Volatility

SIVIX vs. FTHSX - Volatility Comparison

State Street Institutional Small-Cap Equity Fund (SIVIX) and FullerThaler Behavioral Small-Cap Equity Fund Class I (FTHSX) have volatilities of 3.45% and 3.38%, 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.

Volatility by Period

	SIVIX	FTHSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.45%	3.38%	+0.07%
Volatility (6M) Calculated over the trailing 6-month period	11.63%	10.75%	+0.88%
Volatility (1Y) Calculated over the trailing 1-year period	16.88%	14.90%	+1.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.24%	18.79%	+1.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.05%	20.07%	+0.98%

SIVIX vs. FTHSX - Expense Ratio Comparison

SIVIX has a 0.75% expense ratio, which is lower than FTHSX's 0.76% expense ratio.

Dividends

SIVIX vs. FTHSX - Dividend Comparison

SIVIX's dividend yield for the trailing twelve months is around 15.39%, more than FTHSX's 0.46% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FTHSX FullerThaler Behavioral Small-Cap Equity Fund Class I	0.46%	0.54%	8.05%	1.81%	1.23%	3.77%	0.35%	0.39%	0.55%	0.26%	0.00%	15.40%
SIVIX State Street Institutional Small-Cap Equity Fund	15.39%	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 FTHSX in my portfolio?

With a correlation of 0.92, SIVIX and FTHSX 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 FTHSX?

SIVIX has higher volatility (3.45%) compared to FTHSX (3.38%). In terms of maximum drawdown, SIVIX dropped -56.52% vs FTHSX's -37.74%.

Which has better risk-adjusted returns?

FTHSX currently has the higher Sharpe Ratio (1.78 vs 0.95), 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.