SSASX vs. AAIIX

Last updated Jun 4, 2026

SSASX (State Street Income Fund) and AAIIX (Ancora Income Fund) are both Intermediate Core-Plus Bond funds. Over the past 5 years, SSASX returned -0.64%/yr vs 2.02%/yr for AAIIX. At a 0.40 correlation, their price movements are largely independent. SSASX charges 0.20%/yr vs 2.20%/yr for AAIIX.

Performance

SSASX vs. AAIIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street Income Fund (SSASX) and Ancora Income Fund (AAIIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

SSASX

• 1D: 0.00%
• 1M: 0.35%
• YTD: -0.00%
• 6M: -0.08%
• 1Y: 5.12%
• 3Y*: 2.95%
• 5Y*: -0.64%
• 10Y*: —

AAIIX

• 1D: -0.28%
• 1M: -0.35%
• YTD: 2.39%
• 6M: 2.46%
• 1Y: 7.71%
• 3Y*: 6.83%
• 5Y*: 2.02%
• 10Y*: 3.17%

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

SSASX vs. AAIIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
SSASX State Street Income Fund	-0.00%	7.49%	-0.95%	4.83%	-13.74%	0.59%
AAIIX Ancora Income Fund	2.39%	2.28%	9.23%	9.46%	-14.32%	3.80%

Correlation

The correlation between SSASX and AAIIX is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.33
Correlation (3Y) Calculated over the trailing 3-year period	0.45
Correlation (5Y) Calculated over the trailing 5-year period	0.40
Correlation (All Time) Calculated using the full available price history since May 25, 2021	0.40

The correlation between SSASX and AAIIX shifts across timeframes, from 0.33 (1 year) to 0.45 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

SSASX vs. AAIIX — Risk / Return Rank

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

SSASX

SSASX Risk / Return Rank: 18
SSASX Sharpe Ratio Rank: 18
SSASX Sortino Ratio Rank: 19
SSASX Omega Ratio Rank: 17
SSASX Calmar Ratio Rank: 17
SSASX Martin Ratio Rank: 16

AAIIX

AAIIX Risk / Return Rank: 34
AAIIX Sharpe Ratio Rank: 39
AAIIX Sortino Ratio Rank: 39
AAIIX Omega Ratio Rank: 41
AAIIX Calmar Ratio Rank: 27
AAIIX Martin Ratio Rank: 25

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.

SSASX vs. AAIIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street Income Fund (SSASX) and Ancora Income Fund (AAIIX). 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.

	SSASX	AAIIX	Difference
Sharpe ratio: Return per unit of total volatility	1.22	1.80	-0.58
Sortino ratio: Return per unit of downside risk	1.83	2.62	-0.80
Omega ratio: Gain probability vs. loss probability	1.22	1.34	-0.13
Calmar ratio: Return relative to maximum drawdown	1.50	1.92	-0.42
Martin ratio: Return relative to average drawdown	4.51	6.20	-1.69
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SSASX vs. AAIIX - Sharpe Ratio Comparison

The current SSASX Sharpe Ratio is 1.22, which is lower than the AAIIX Sharpe Ratio of 1.80. The chart below compares the historical Sharpe Ratios of SSASX and AAIIX, 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

	SSASX	AAIIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.22	1.80	-0.58
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.10	0.00	-0.10
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.00	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.10	0.00	-0.10

Drawdowns

SSASX vs. AAIIX - Drawdown Comparison

The maximum SSASX drawdown since its inception was -19.65%, smaller than the maximum AAIIX drawdown of -98.01%. Use the drawdown chart below to compare losses from any high point for SSASX and AAIIX.

Drawdown Indicators

	SSASX	AAIIX	Difference
Max Drawdown Largest peak-to-trough decline	-19.65%	-98.01%	+78.36%
Max Drawdown (1Y) Largest decline over 1 year	-3.42%	-4.19%	+0.77%
Max Drawdown (3Y) Largest decline over 3 years	-7.97%	-98.01%	+90.04%
Max Drawdown (5Y) Largest decline over 5 years	-19.65%	-98.01%	+78.36%
Max Drawdown (10Y) Largest decline over 10 years	—	-98.01%	—
Current Drawdown Current decline from peak	-5.26%	-97.78%	+92.52%
Average Drawdown Average peak-to-trough decline	-9.68%	-12.34%	+2.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.14%	1.30%	-0.16%

Volatility

SSASX vs. AAIIX - Volatility Comparison

State Street Income Fund (SSASX) has a higher volatility of 1.46% compared to Ancora Income Fund (AAIIX) at 1.15%. This indicates that SSASX's price experiences larger fluctuations and is considered to be riskier than AAIIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SSASX	AAIIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.46%	1.15%	+0.31%
Volatility (6M) Calculated over the trailing 6-month period	2.96%	3.22%	-0.26%
Volatility (1Y) Calculated over the trailing 1-year period	4.22%	4.48%	-0.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.49%	2,044.45%	-2,037.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.49%	1,445.64%	-1,439.15%

SSASX vs. AAIIX - Expense Ratio Comparison

SSASX has a 0.20% expense ratio, which is lower than AAIIX's 2.20% expense ratio.

Dividends

SSASX vs. AAIIX - Dividend Comparison

SSASX's dividend yield for the trailing twelve months is around 4.00%, less than AAIIX's 5.20% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AAIIX Ancora Income Fund	5.20%	4.09%	4.57%	4.77%	4.52%	4.46%	5.68%	3.96%	4.36%	5.69%	6.40%	6.99%
SSASX State Street Income Fund	4.00%	4.01%	2.76%	2.86%	2.48%	3.77%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SSASX and AAIIX in my portfolio?

SSASX and AAIIX have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SSASX or AAIIX?

SSASX has higher volatility (1.46%) compared to AAIIX (1.15%). In terms of maximum drawdown, SSASX dropped -19.65% vs AAIIX's -98.01%.

Which has better risk-adjusted returns?

AAIIX currently has the higher Sharpe Ratio (1.80 vs 1.22), 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.