SSASX vs. HLIPX
SSASX (State Street Income Fund) and HLIPX (JPMorgan Core Plus Bond Fund) are both Intermediate Core-Plus Bond funds. Over the past 5 years, SSASX returned -0.82%/yr vs 0.75%/yr for HLIPX. Their correlation of 0.95 suggests significant overlap in exposure. SSASX charges 0.20%/yr vs 0.46%/yr for HLIPX.
Performance
SSASX vs. HLIPX - Performance Comparison
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Returns By Period
In the year-to-date period, SSASX achieves a -0.31% return, which is significantly lower than HLIPX's 0.44% return.
SSASX
- 1D
- -0.31%
- 1M
- 0.66%
- YTD
- -0.31%
- 6M
- 0.11%
- 1Y
- 3.94%
- 3Y*
- 2.87%
- 5Y*
- -0.82%
- 10Y*
- —
HLIPX
- 1D
- -0.28%
- 1M
- 0.56%
- YTD
- 0.44%
- 6M
- 0.59%
- 1Y
- 4.93%
- 3Y*
- 4.84%
- 5Y*
- 0.75%
- 10Y*
- 2.26%
SSASX vs. HLIPX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
SSASX State Street Income Fund | -0.31% | 7.49% | -0.95% | 4.83% | -13.74% | 0.59% |
HLIPX JPMorgan Core Plus Bond Fund | 0.44% | 7.98% | 2.64% | 6.38% | -12.69% | 1.17% |
Correlation
The correlation between SSASX and HLIPX is 0.87, 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 | 0.87 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.95 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.95 |
Correlation (All Time) Calculated using the full available price history since May 24, 2021 | 0.95 |
The correlation between SSASX and HLIPX has been stable across timeframes, ranging from 0.87 to 0.95 - a consistent structural relationship.
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Return for Risk
SSASX vs. HLIPX — Risk / Return Rank
SSASX
HLIPX
SSASX vs. HLIPX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for State Street Income Fund (SSASX) and JPMorgan Core Plus Bond Fund (HLIPX). 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.
| SSASX | HLIPX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.32 | ||
| Sortino ratioReturn per unit of downside risk | -0.46 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.24 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 1.22 | 1.67 | -0.45 |
| Martin ratioReturn relative to average drawdown | 3.38 | 4.75 | -1.36 |
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Drawdowns
SSASX vs. HLIPX - Drawdown Comparison
The maximum SSASX drawdown since its inception was -19.65%, which is greater than HLIPX's maximum drawdown of -16.91%. Use the drawdown chart below to compare losses from any high point for SSASX and HLIPX.
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Drawdown Indicators
| SSASX | HLIPX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.65% | -16.91% | -2.74% |
Max Drawdown (1Y)Largest decline over 1 year | -3.42% | -3.05% | -0.37% |
Max Drawdown (3Y)Largest decline over 3 years | -7.97% | -6.08% | -1.89% |
Max Drawdown (5Y)Largest decline over 5 years | -19.65% | -16.91% | -2.74% |
Max Drawdown (10Y)Largest decline over 10 years | — | -16.91% | — |
Current DrawdownCurrent decline from peak | -5.55% | -1.69% | -3.86% |
Average DrawdownAverage peak-to-trough decline | -9.63% | -1.94% | -7.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.23% | 1.07% | +0.16% |
Volatility
SSASX vs. HLIPX - Volatility Comparison
State Street Income Fund (SSASX) has a higher volatility of 1.18% compared to JPMorgan Core Plus Bond Fund (HLIPX) at 1.12%. This indicates that SSASX's price experiences larger fluctuations and is considered to be riskier than HLIPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SSASX | HLIPX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.18% | 1.12% | +0.06% |
Volatility (6M)Calculated over the trailing 6-month period | 3.00% | 2.89% | +0.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.14% | 3.85% | +0.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.50% | 5.69% | +0.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.47% | 4.65% | +1.82% |
SSASX vs. HLIPX - Expense Ratio Comparison
SSASX has a 0.20% expense ratio, which is lower than HLIPX's 0.46% expense ratio.
Dividends
SSASX vs. HLIPX - Dividend Comparison
SSASX's dividend yield for the trailing twelve months is around 4.02%, less than HLIPX's 4.58% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HLIPX JPMorgan Core Plus Bond Fund | 4.58% | 4.86% | 4.88% | 4.02% | 3.36% | 3.25% | 4.36% | 3.23% | 3.08% | 2.83% | 2.77% | 3.25% |
SSASX State Street Income Fund | 4.02% | 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
SSASX and HLIPX have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SSASX has higher volatility (1.18%) compared to HLIPX (1.12%). In terms of maximum drawdown, SSASX dropped -19.65% vs HLIPX's -16.91%.
HLIPX currently has the higher Sharpe Ratio (1.33 vs 1.01), 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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