SSAFX vs. SSHQX
SSAFX (State Street Aggregate Bond Index Portfolio) and SSHQX (State Street Hedged International Developed Equity Index Fund) are both mutual funds - SSAFX is a Intermediate Core Bond fund managed by State Street, while SSHQX is a Foreign Large Cap Equities fund managed by State Street. Over the past 10 years, SSAFX returned 27.83%/yr vs -10.86%/yr for SSHQX. At a correlation of -0.07, they often move in opposite directions. SSAFX charges 0.02%/yr vs 0.20%/yr for SSHQX.
Performance
SSAFX vs. SSHQX - Performance Comparison
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Returns By Period
In the year-to-date period, SSAFX achieves a 0.42% return, which is significantly lower than SSHQX's 10.20% return. Over the past 10 years, SSAFX has outperformed SSHQX with an annualized return of 27.83%, while SSHQX has yielded a comparatively lower -10.86% annualized return.
SSAFX
- 1D
- 0.05%
- 1M
- 0.49%
- YTD
- 0.42%
- 6M
- 0.33%
- 1Y
- 5.39%
- 3Y*
- 3.90%
- 5Y*
- 0.09%
- 10Y*
- 27.83%
SSHQX
- 1D
- 0.43%
- 1M
- 4.39%
- YTD
- 10.20%
- 6M
- 12.92%
- 1Y
- 24.83%
- 3Y*
- 18.08%
- 5Y*
- 13.32%
- 10Y*
- -10.86%
SSAFX vs. SSHQX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SSAFX State Street Aggregate Bond Index Portfolio | 0.42% | 6.81% | 1.34% | 5.61% | -13.30% | -1.72% | 978.57% | 8.69% | -0.12% | 3.38% |
SSHQX State Street Hedged International Developed Equity Index Fund | 10.20% | 23.42% | 13.71% | 19.74% | -4.73% | 19.32% | -89.75% | 24.83% | -9.27% | 16.85% |
Correlation
The correlation between SSAFX and SSHQX is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.15 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.08 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.06 |
Correlation (All Time) Calculated using the full available price history since Jan 5, 2016 | -0.07 |
The correlation between SSAFX and SSHQX shifts across timeframes, from -0.07 (all time) to 0.22 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SSAFX vs. SSHQX — Risk / Return Rank
SSAFX
SSHQX
SSAFX vs. SSHQX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for State Street Aggregate Bond Index Portfolio (SSAFX) and State Street Hedged International Developed Equity Index Fund (SSHQX). 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.
| SSAFX | SSHQX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.65 | ||
| Sortino ratioReturn per unit of downside risk | -0.76 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.41 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 1.96 | 2.56 | -0.59 |
| Martin ratioReturn relative to average drawdown | 6.00 | 10.66 | -4.66 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SSAFX | SSHQX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.45 | 2.09 | -0.65 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.01 | 1.00 | -0.98 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.10 | -0.34 | +0.44 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.09 | -0.34 | +0.43 |
Drawdowns
SSAFX vs. SSHQX - Drawdown Comparison
The maximum SSAFX drawdown since its inception was -18.74%, smaller than the maximum SSHQX drawdown of -92.12%. Use the drawdown chart below to compare losses from any high point for SSAFX and SSHQX.
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Drawdown Indicators
| SSAFX | SSHQX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.74% | -92.12% | +73.38% |
Max Drawdown (1Y)Largest decline over 1 year | -2.74% | -9.69% | +6.95% |
Max Drawdown (3Y)Largest decline over 3 years | -6.09% | -13.99% | +7.90% |
Max Drawdown (5Y)Largest decline over 5 years | -18.10% | -14.79% | -3.31% |
Max Drawdown (10Y)Largest decline over 10 years | -18.74% | -92.12% | +73.38% |
Current DrawdownCurrent decline from peak | -2.62% | -78.98% | +76.36% |
Average DrawdownAverage peak-to-trough decline | -4.41% | -52.29% | +47.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.90% | 2.32% | -1.42% |
Volatility
SSAFX vs. SSHQX - Volatility Comparison
The current volatility for State Street Aggregate Bond Index Portfolio (SSAFX) is 1.29%, while State Street Hedged International Developed Equity Index Fund (SSHQX) has a volatility of 3.49%. This indicates that SSAFX experiences smaller price fluctuations and is considered to be less risky than SSHQX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SSAFX | SSHQX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.29% | 3.49% | -2.20% |
Volatility (6M)Calculated over the trailing 6-month period | 2.65% | 9.73% | -7.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.74% | 11.84% | -8.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.95% | 13.42% | -7.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 277.51% | 32.24% | +245.27% |
SSAFX vs. SSHQX - Expense Ratio Comparison
SSAFX has a 0.02% expense ratio, which is lower than SSHQX's 0.20% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
SSAFX vs. SSHQX - Dividend Comparison
SSAFX's dividend yield for the trailing twelve months is around 4.16%, more than SSHQX's 3.27% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SSAFX State Street Aggregate Bond Index Portfolio | 4.16% | 3.70% | 3.76% | 3.16% | 2.49% | 1.90% | 2.41% | 2.88% | 2.82% | 2.42% | 2.21% | 3.21% |
SSHQX State Street Hedged International Developed Equity Index Fund | 3.27% | 3.60% | 3.11% | 3.77% | 22.27% | 2.93% | 2.03% | 5.14% | 7.33% | 3.12% | 4.30% | 0.00% |
Frequently Asked Questions
SSAFX and SSHQX have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SSHQX has higher volatility (3.49%) compared to SSAFX (1.29%). In terms of maximum drawdown, SSAFX dropped -18.74% vs SSHQX's -92.12%.
SSHQX currently has the higher Sharpe Ratio (2.09 vs 1.45), 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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