SIVIX vs. SSBWX

Last updated Jun 3, 2026

SIVIX (State Street Institutional Small-Cap Equity Fund) and SSBWX (State Street Target Retirement 2030 Fund) are both mutual funds - SIVIX is a Small Cap Blend Equities fund managed by State Street, while SSBWX is a Target Retirement Date fund managed by State Street. Over the past 10 years, SIVIX returned 9.42%/yr vs 8.98%/yr for SSBWX. Their correlation of 0.81 suggests significant overlap in exposure. SIVIX charges 0.75%/yr vs 0.15%/yr for SSBWX.

Performance

SIVIX vs. SSBWX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street Institutional Small-Cap Equity Fund (SIVIX) and State Street Target Retirement 2030 Fund (SSBWX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SIVIX achieves a 8.42% return, which is significantly higher than SSBWX's 7.67% return. Both investments have delivered pretty close results over the past 10 years, with SIVIX having a 9.42% annualized return and SSBWX not far behind at 8.98%.

SIVIX

• 1D: -0.31%
• 1M: 0.76%
• YTD: 8.42%
• 6M: 9.00%
• 1Y: 16.09%
• 3Y*: 9.93%
• 5Y*: 4.05%
• 10Y*: 9.42%

SSBWX

• 1D: 0.00%
• 1M: 2.53%
• YTD: 7.67%
• 6M: 8.31%
• 1Y: 18.99%
• 3Y*: 13.87%
• 5Y*: 6.39%
• 10Y*: 8.98%

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

SIVIX vs. SSBWX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SIVIX State Street Institutional Small-Cap Equity Fund	8.42%	0.64%	10.83%	14.23%	-14.99%	21.48%	15.19%	26.69%	-10.13%	13.22%
SSBWX State Street Target Retirement 2030 Fund	7.67%	15.92%	9.76%	15.66%	-17.17%	10.75%	17.27%	22.52%	-6.23%	16.05%

Correlation

The correlation between SIVIX and SSBWX is 0.72, 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	0.72
Correlation (3Y) Calculated over the trailing 3-year period	0.77
Correlation (5Y) Calculated over the trailing 5-year period	0.82
Correlation (10Y) Calculated over the trailing 10-year period	0.80
Correlation (All Time) Calculated using the full available price history since Oct 2, 2014	0.81

The correlation between SIVIX and SSBWX has been stable across timeframes, ranging from 0.72 to 0.82 - a consistent structural relationship.

Return for Risk

SIVIX vs. SSBWX — Risk / Return Rank

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

SIVIX

SIVIX Risk / Return Rank: 13
SIVIX Sharpe Ratio Rank: 12
SIVIX Sortino Ratio Rank: 13
SIVIX Omega Ratio Rank: 11
SIVIX Calmar Ratio Rank: 15
SIVIX Martin Ratio Rank: 15

SSBWX

SSBWX Risk / Return Rank: 75
SSBWX Sharpe Ratio Rank: 81
SSBWX Sortino Ratio Rank: 79
SSBWX Omega Ratio Rank: 79
SSBWX Calmar Ratio Rank: 66
SSBWX Martin Ratio Rank: 73

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. SSBWX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street Institutional Small-Cap Equity Fund (SIVIX) and State Street Target Retirement 2030 Fund (SSBWX). 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.

	SIVIX	SSBWX	Difference
Sharpe ratio Return per unit of total volatility	0.93	2.62	-1.68
Sortino ratio Return per unit of downside risk	1.47	3.75	-2.27
Omega ratio Gain probability vs. loss probability	1.17	1.52	-0.35
Calmar ratio Return relative to maximum drawdown	1.40	3.13	-1.73
Martin ratio Return relative to average drawdown	4.42	13.95	-9.53
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SIVIX vs. SSBWX - Sharpe Ratio Comparison

The current SIVIX Sharpe Ratio is 0.93, which is lower than the SSBWX Sharpe Ratio of 2.62. The chart below compares the historical Sharpe Ratios of SIVIX and SSBWX, 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

	SIVIX	SSBWX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.93	2.62	-1.68
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.20	0.60	-0.40
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.45	0.80	-0.35
Sharpe Ratio (All Time) Calculated using the full available price history	0.43	0.72	-0.29

Drawdowns

SIVIX vs. SSBWX - Drawdown Comparison

The maximum SIVIX drawdown since its inception was -56.52%, which is greater than SSBWX's maximum drawdown of -23.73%. Use the drawdown chart below to compare losses from any high point for SIVIX and SSBWX.

Drawdown Indicators

	SIVIX	SSBWX	Difference
Max Drawdown Largest peak-to-trough decline	-56.52%	-23.73%	-32.79%
Max Drawdown (1Y) Largest decline over 1 year	-10.92%	-6.20%	-4.72%
Max Drawdown (3Y) Largest decline over 3 years	-25.67%	-9.73%	-15.94%
Max Drawdown (5Y) Largest decline over 5 years	-26.51%	-23.73%	-2.78%
Max Drawdown (10Y) Largest decline over 10 years	-43.92%	-23.73%	-20.19%
Current Drawdown Current decline from peak	-0.93%	0.00%	-0.93%
Average Drawdown Average peak-to-trough decline	-8.83%	-4.17%	-4.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.46%	1.39%	+2.07%

Volatility

SIVIX vs. SSBWX - Volatility Comparison

State Street Institutional Small-Cap Equity Fund (SIVIX) has a higher volatility of 4.17% compared to State Street Target Retirement 2030 Fund (SSBWX) at 2.33%. This indicates that SIVIX's price experiences larger fluctuations and is considered to be riskier than SSBWX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SIVIX	SSBWX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.17%	2.33%	+1.84%
Volatility (6M) Calculated over the trailing 6-month period	11.59%	5.97%	+5.62%
Volatility (1Y) Calculated over the trailing 1-year period	16.93%	7.44%	+9.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.29%	10.65%	+9.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.11%	11.33%	+9.78%

SIVIX vs. SSBWX - Expense Ratio Comparison

SIVIX has a 0.75% expense ratio, which is higher than SSBWX's 0.15% expense ratio.

Dividends

SIVIX vs. SSBWX - Dividend Comparison

SIVIX's dividend yield for the trailing twelve months is around 16.22%, more than SSBWX's 6.42% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SIVIX State Street Institutional Small-Cap Equity Fund	16.22%	17.59%	10.99%	7.77%	4.87%	16.56%	3.16%	6.27%	19.92%	9.35%	3.38%	13.07%
SSBWX State Street Target Retirement 2030 Fund	6.42%	6.91%	6.16%	4.11%	5.78%	6.18%	4.92%	6.65%	5.24%	0.46%	1.75%	2.11%

Frequently Asked Questions

Can I hold both SIVIX and SSBWX in my portfolio?

SIVIX and SSBWX have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SIVIX or SSBWX?

SIVIX has higher volatility (4.17%) compared to SSBWX (2.33%). In terms of maximum drawdown, SIVIX dropped -56.52% vs SSBWX's -23.73%.

Which has better risk-adjusted returns?

SSBWX currently has the higher Sharpe Ratio (2.62 vs 0.93), 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.