SIVIX vs. SVOL
SIVIX (State Street Institutional Small-Cap Equity Fund) and SVOL (Simplify Volatility Premium ETF) are both funds - SIVIX is a Small Cap Blend Equities fund managed by State Street, while SVOL is a Volatility fund actively managed by Simplify. Over the past 5 years, SIVIX returned 5.33%/yr vs 6.94%/yr for SVOL. Their 0.62 correlation means they have sometimes moved together and sometimes differently. SIVIX charges 0.75%/yr vs 0.50%/yr for SVOL.
Performance
SIVIX vs. SVOL - Performance Comparison
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Returns By Period
In the year-to-date period, SIVIX achieves a 14.27% return, which is significantly higher than SVOL's 1.82% 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%
SVOL
- 1D
- 1.15%
- 1M
- 0.58%
- 6M
- 0.98%
- YTD
- 1.82%
- 1Y
- 18.14%
- 3Y*
- 5.94%
- 5Y*
- 6.94%
- 10Y*
- —
- ALL TIME*
- 7.96%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $4.50M | $3.83M | $4.52M |
SIVIX vs. SVOL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
SIVIX State Street Institutional Small-Cap Equity Fund | 14.27% | 0.64% | 10.83% | 14.23% | -14.99% | 7.62% |
SVOL Simplify Volatility Premium ETF | 1.82% | 2.41% | 6.77% | 22.88% | -3.30% | 12.70% |
Correlation
The correlation between SIVIX and SVOL is 0.62, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.62 |
Correlation (3Y) Balances recent behavior with more history. | 0.61 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.62 |
Correlation (All Time) Calculated using the full available price history since May 13, 2021 | 0.62 |
The correlation between SIVIX and SVOL has been stable across timeframes, ranging from 0.61 to 0.62 - a consistent structural relationship.
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Return for Risk
SIVIX vs. SVOL — Risk / Return Rank
SIVIX
SVOL
SIVIX vs. SVOL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for State Street Institutional Small-Cap Equity Fund (SIVIX) and Simplify Volatility Premium ETF (SVOL). 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 | SVOL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.04 | ||
| Sortino ratioReturn per unit of downside risk | +0.13 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.18 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.47 | 1.37 | +0.09 |
| Martin ratioReturn relative to average drawdown | 4.70 | 4.00 | +0.70 |
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Drawdowns
SIVIX vs. SVOL - Drawdown Comparison
The maximum SIVIX drawdown since its inception was -56.52%, which is greater than SVOL's maximum drawdown of -33.50%. Use the drawdown chart below to compare losses from any high point for SIVIX and SVOL.
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Drawdown Indicators
| SIVIX | SVOL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.52% | -33.50% | -23.02% |
Max Drawdown (1Y)Largest decline over 1 year | -10.92% | -11.42% | +0.50% |
Max Drawdown (3Y)Largest decline over 3 years | -25.67% | -33.50% | +7.83% |
Max Drawdown (5Y)Largest decline over 5 years | -26.51% | -33.50% | +6.99% |
Max Drawdown (10Y)Largest decline over 10 years | -43.92% | — | — |
Current DrawdownCurrent decline from peak | -1.18% | -1.33% | +0.15% |
Average DrawdownAverage peak-to-trough decline | -8.78% | -4.68% | -4.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.42% | 3.92% | -0.50% |
Volatility
SIVIX vs. SVOL - Volatility Comparison
The current volatility for State Street Institutional Small-Cap Equity Fund (SIVIX) is 3.45%, while Simplify Volatility Premium ETF (SVOL) has a volatility of 4.16%. This indicates that SIVIX experiences smaller price fluctuations and is considered to be less risky than SVOL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SIVIX | SVOL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.45% | 4.16% | -0.71% |
Volatility (6M)Calculated over the trailing 6-month period | 11.63% | 9.66% | +1.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.88% | 17.23% | -0.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.24% | 21.96% | -1.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.05% | 21.74% | -0.69% |
SIVIX vs. SVOL - Expense Ratio Comparison
SIVIX has a 0.75% expense ratio, which is higher than SVOL's 0.50% expense ratio.
Dividends
SIVIX vs. SVOL - Dividend Comparison
SIVIX's dividend yield for the trailing twelve months is around 15.39%, less than SVOL's 22.14% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
SVOL Simplify Volatility Premium ETF | 22.14% | 19.82% | 16.79% | 16.36% | 18.32% | 4.65% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SIVIX and SVOL have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SVOL has higher volatility (4.16%) compared to SIVIX (3.45%). In terms of maximum drawdown, SIVIX dropped -56.52% vs SVOL's -33.50%.
SIVIX currently has the higher Sharpe Ratio (0.95 vs 0.91), 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.
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