SSAQX vs. SVSPX

Last updated Jun 4, 2026

SSAQX (State Street U.S. Core Equity Fund) and SVSPX (State Street S&P 500 Index Fund Class N) are both Large Cap Blend Equities funds from State Street. Over the past 5 years, SSAQX returned 9.49%/yr vs 14.16%/yr for SVSPX. Their correlation of 0.91 suggests significant overlap in exposure. Both charge a 0.16% expense ratio.

Performance

SSAQX vs. SVSPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street U.S. Core Equity Fund (SSAQX) and State Street S&P 500 Index Fund Class N (SVSPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SSAQX achieves a 8.01% return, which is significantly lower than SVSPX's 11.63% return.

SSAQX

• 1D: -0.09%
• 1M: 4.62%
• YTD: 8.01%
• 6M: 7.86%
• 1Y: 25.69%
• 3Y*: 14.89%
• 5Y*: 9.49%
• 10Y*: —

SVSPX

• 1D: 0.13%
• 1M: 5.79%
• YTD: 11.63%
• 6M: 11.79%
• 1Y: 28.97%
• 3Y*: 22.73%
• 5Y*: 14.16%
• 10Y*: 15.51%

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

SSAQX vs. SVSPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
SSAQX State Street U.S. Core Equity Fund	8.01%	17.43%	5.04%	28.87%	-18.27%	12.02%
SVSPX State Street S&P 500 Index Fund Class N	11.63%	17.83%	25.07%	26.21%	-18.31%	14.25%

Correlation

The correlation between SSAQX and SVSPX is 0.74, 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	0.74
Correlation (3Y) Calculated over the trailing 3-year period	0.84
Correlation (5Y) Calculated over the trailing 5-year period	0.91
Correlation (All Time) Calculated using the full available price history since May 25, 2021	0.91

The correlation between SSAQX and SVSPX shifts across timeframes, from 0.74 (1 year) to 0.91 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

SSAQX vs. SVSPX — Risk / Return Rank

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

SSAQX

SSAQX Risk / Return Rank: 51
SSAQX Sharpe Ratio Rank: 56
SSAQX Sortino Ratio Rank: 52
SSAQX Omega Ratio Rank: 52
SSAQX Calmar Ratio Rank: 42
SSAQX Martin Ratio Rank: 52

SVSPX

SVSPX Risk / Return Rank: 88
SVSPX Sharpe Ratio Rank: 90
SVSPX Sortino Ratio Rank: 88
SVSPX Omega Ratio Rank: 82
SVSPX Calmar Ratio Rank: 87
SVSPX Martin Ratio Rank: 93

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.

SSAQX vs. SVSPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street U.S. Core Equity Fund (SSAQX) and State Street S&P 500 Index Fund Class N (SVSPX). 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.

	SSAQX	SVSPX	Difference
Sharpe ratio: Return per unit of total volatility	2.21	3.00	-0.78
Sortino ratio: Return per unit of downside risk	3.04	4.24	-1.20
Omega ratio: Gain probability vs. loss probability	1.40	1.54	-0.15
Calmar ratio: Return relative to maximum drawdown	2.47	4.25	-1.78
Martin ratio: Return relative to average drawdown	10.62	20.11	-9.48
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SSAQX vs. SVSPX - Sharpe Ratio Comparison

The current SSAQX Sharpe Ratio is 2.21, which is comparable to the SVSPX Sharpe Ratio of 3.00. The chart below compares the historical Sharpe Ratios of SSAQX and SVSPX, 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

	SSAQX	SVSPX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.21	3.00	-0.78
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.51	0.85	-0.35
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.87	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.50	0.58	-0.08

Drawdowns

SSAQX vs. SVSPX - Drawdown Comparison

The maximum SSAQX drawdown since its inception was -31.70%, smaller than the maximum SVSPX drawdown of -55.76%. Use the drawdown chart below to compare losses from any high point for SSAQX and SVSPX.

Drawdown Indicators

	SSAQX	SVSPX	Difference
Max Drawdown Largest peak-to-trough decline	-31.70%	-55.76%	+24.06%
Max Drawdown (1Y) Largest decline over 1 year	-10.74%	-8.93%	-1.81%
Max Drawdown (3Y) Largest decline over 3 years	-31.70%	-19.09%	-12.61%
Max Drawdown (5Y) Largest decline over 5 years	-31.70%	-24.59%	-7.11%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.69%	—
Current Drawdown Current decline from peak	-0.09%	0.00%	-0.09%
Average Drawdown Average peak-to-trough decline	-8.08%	-9.24%	+1.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.49%	2.88%	-0.39%

Volatility

SSAQX vs. SVSPX - Volatility Comparison

State Street U.S. Core Equity Fund (SSAQX) and State Street S&P 500 Index Fund Class N (SVSPX) have volatilities of 3.04% and 3.12%, 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

	SSAQX	SVSPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.04%	3.12%	-0.08%
Volatility (6M) Calculated over the trailing 6-month period	9.23%	10.25%	-1.02%
Volatility (1Y) Calculated over the trailing 1-year period	11.99%	12.65%	-0.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.86%	17.45%	+1.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.86%	18.34%	+0.52%

SSAQX vs. SVSPX - Expense Ratio Comparison

Both SSAQX and SVSPX have an expense ratio of 0.16%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

SSAQX vs. SVSPX - Dividend Comparison

SSAQX's dividend yield for the trailing twelve months is around 11.13%, more than SVSPX's 7.43% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SSAQX State Street U.S. Core Equity Fund	11.13%	12.02%	0.00%	3.83%	9.83%	13.21%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SVSPX State Street S&P 500 Index Fund Class N	7.43%	8.28%	9.39%	12.38%	10.53%	11.65%	15.98%	6.40%	13.29%	4.94%	8.63%	4.05%

Frequently Asked Questions

Can I hold both SSAQX and SVSPX in my portfolio?

SSAQX and SVSPX have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SSAQX or SVSPX?

SVSPX has higher volatility (3.12%) compared to SSAQX (3.04%). In terms of maximum drawdown, SSAQX dropped -31.70% vs SVSPX's -55.76%.

Which has better risk-adjusted returns?

SVSPX currently has the higher Sharpe Ratio (3.00 vs 2.21), 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.