SSAFX vs. VBTLX
SSAFX (State Street Aggregate Bond Index Portfolio) and VBTLX (Vanguard Total Bond Market Index Fund Admiral Shares) are both mutual funds - SSAFX is a Intermediate Core Bond fund managed by State Street, while VBTLX is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Float Adjusted Index. Over the past 10 years, SSAFX returned 27.83%/yr vs 1.58%/yr for VBTLX. Their correlation of 0.93 suggests significant overlap in exposure. SSAFX charges 0.02%/yr vs 0.04%/yr for VBTLX.
Performance
SSAFX vs. VBTLX - Performance Comparison
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Returns By Period
As of year-to-date, both investments have demonstrated similar returns, with SSAFX at 0.42% and VBTLX at 0.42%. Over the past 10 years, SSAFX has outperformed VBTLX with an annualized return of 27.83%, while VBTLX has yielded a comparatively lower 1.58% 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%
VBTLX
- 1D
- 0.00%
- 1M
- 0.55%
- YTD
- 0.42%
- 6M
- 0.35%
- 1Y
- 5.34%
- 3Y*
- 4.05%
- 5Y*
- 0.21%
- 10Y*
- 1.58%
SSAFX vs. VBTLX - 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% |
VBTLX Vanguard Total Bond Market Index Fund Admiral Shares | 0.42% | 7.17% | 1.26% | 5.74% | -13.16% | -1.81% | 7.72% | 8.73% | -0.25% | 3.56% |
Correlation
The correlation between SSAFX and VBTLX is 0.92, 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 | 0.92 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.95 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.96 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.93 |
Correlation (All Time) Calculated using the full available price history since Sep 23, 2014 | 0.93 |
The correlation between SSAFX and VBTLX has been stable across timeframes, ranging from 0.92 to 0.96 - a consistent structural relationship.
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Return for Risk
SSAFX vs. VBTLX — Risk / Return Rank
SSAFX
VBTLX
SSAFX vs. VBTLX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for State Street Aggregate Bond Index Portfolio (SSAFX) and Vanguard Total Bond Market Index Fund Admiral Shares (VBTLX). 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 | VBTLX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.09 | ||
| Sortino ratioReturn per unit of downside risk | +0.13 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.24 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.96 | 1.86 | +0.11 |
| Martin ratioReturn relative to average drawdown | 6.00 | 5.58 | +0.42 |
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 | VBTLX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.45 | 1.36 | +0.09 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.01 | 0.04 | -0.02 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.10 | 0.32 | -0.22 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.09 | 0.76 | -0.67 |
Drawdowns
SSAFX vs. VBTLX - Drawdown Comparison
The maximum SSAFX drawdown since its inception was -18.74%, roughly equal to the maximum VBTLX drawdown of -18.81%. Use the drawdown chart below to compare losses from any high point for SSAFX and VBTLX.
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Drawdown Indicators
| SSAFX | VBTLX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.74% | -18.81% | +0.07% |
Max Drawdown (1Y)Largest decline over 1 year | -2.74% | -2.89% | +0.15% |
Max Drawdown (3Y)Largest decline over 3 years | -6.09% | -6.00% | -0.09% |
Max Drawdown (5Y)Largest decline over 5 years | -18.10% | -18.14% | +0.04% |
Max Drawdown (10Y)Largest decline over 10 years | -18.74% | -18.81% | +0.07% |
Current DrawdownCurrent decline from peak | -2.62% | -2.18% | -0.44% |
Average DrawdownAverage peak-to-trough decline | -4.41% | -2.67% | -1.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.90% | 0.96% | -0.06% |
Volatility
SSAFX vs. VBTLX - Volatility Comparison
The current volatility for State Street Aggregate Bond Index Portfolio (SSAFX) is 1.29%, while Vanguard Total Bond Market Index Fund Admiral Shares (VBTLX) has a volatility of 1.38%. This indicates that SSAFX experiences smaller price fluctuations and is considered to be less risky than VBTLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SSAFX | VBTLX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.29% | 1.38% | -0.09% |
Volatility (6M)Calculated over the trailing 6-month period | 2.65% | 2.80% | -0.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.74% | 3.97% | -0.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.95% | 6.01% | -0.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 277.51% | 4.98% | +272.53% |
SSAFX vs. VBTLX - Expense Ratio Comparison
SSAFX has a 0.02% expense ratio, which is lower than VBTLX's 0.04% 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. VBTLX - Dividend Comparison
SSAFX's dividend yield for the trailing twelve months is around 4.16%, more than VBTLX's 3.98% 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% |
VBTLX Vanguard Total Bond Market Index Fund Admiral Shares | 3.98% | 3.87% | 3.69% | 3.10% | 2.59% | 1.96% | 2.39% | 2.74% | 2.57% | 2.56% | 2.53% | 2.82% |
Frequently Asked Questions
With a correlation of 0.92, SSAFX and VBTLX 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.
VBTLX has higher volatility (1.38%) compared to SSAFX (1.29%). In terms of maximum drawdown, SSAFX dropped -18.74% vs VBTLX's -18.81%.
SSAFX currently has the higher Sharpe Ratio (1.45 vs 1.36), 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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