SSBWX vs. SIVIX

Last updated Jun 23, 2026

SSBWX (State Street Target Retirement 2030 Fund) and SIVIX (State Street Institutional Small-Cap Equity Fund) are both mutual funds - SSBWX is a Target Retirement Date fund managed by State Street, while SIVIX is a Small Cap Blend Equities fund managed by State Street. Over the past 10 years, SSBWX returned 9.01%/yr vs 9.82%/yr for SIVIX. Their correlation of 0.81 suggests significant overlap in exposure. SSBWX charges 0.15%/yr vs 0.75%/yr for SIVIX.

Performance

SSBWX vs. SIVIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street Target Retirement 2030 Fund (SSBWX) and State Street Institutional Small-Cap Equity Fund (SIVIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SSBWX achieves a 7.60% return, which is significantly lower than SIVIX's 12.16% return. Over the past 10 years, SSBWX has underperformed SIVIX with an annualized return of 9.01%, while SIVIX has yielded a comparatively higher 9.82% annualized return.

SSBWX

• 1D: 0.60%
• 1M: 1.08%
• YTD: 7.60%
• 6M: 7.44%
• 1Y: 18.38%
• 3Y*: 13.06%
• 5Y*: 6.51%
• 10Y*: 9.01%

SIVIX

• 1D: 1.91%
• 1M: 3.84%
• YTD: 12.16%
• 6M: 9.63%
• 1Y: 19.27%
• 3Y*: 10.31%
• 5Y*: 5.56%
• 10Y*: 9.82%

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

SSBWX vs. SIVIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SSBWX State Street Target Retirement 2030 Fund	7.60%	15.92%	9.76%	15.66%	-17.17%	10.75%	17.27%	22.52%	-6.23%	16.05%
SIVIX State Street Institutional Small-Cap Equity Fund	12.16%	0.64%	10.83%	14.23%	-14.99%	21.48%	15.19%	26.69%	-10.13%	13.22%

Correlation

The correlation between SSBWX and SIVIX is 0.75, 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	0.75
Correlation (3Y) Calculated over the trailing 3-year period	0.78
Correlation (5Y) Calculated over the trailing 5-year period	0.82
Correlation (10Y) Calculated over the trailing 10-year period	0.80
Correlation (All Time) Calculated using the full available price history since Oct 1, 2014	0.81

The correlation between SSBWX and SIVIX has been stable across timeframes, ranging from 0.75 to 0.82 - a consistent structural relationship.

Return for Risk

SSBWX vs. SIVIX — Risk / Return Rank

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

SSBWX

SSBWX Risk / Return Rank: 72
SSBWX Sharpe Ratio Rank: 74
SSBWX Sortino Ratio Rank: 74
SSBWX Omega Ratio Rank: 77
SSBWX Calmar Ratio Rank: 64
SSBWX Martin Ratio Rank: 71

SIVIX

SIVIX Risk / Return Rank: 21
SIVIX Sharpe Ratio Rank: 18
SIVIX Sortino Ratio Rank: 20
SIVIX Omega Ratio Rank: 17
SIVIX Calmar Ratio Rank: 25
SIVIX 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.

SSBWX vs. SIVIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street Target Retirement 2030 Fund (SSBWX) and State Street Institutional Small-Cap Equity Fund (SIVIX). 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.

	SSBWX	SIVIX	Difference
Sharpe ratio: Return per unit of total volatility	2.31	1.12	+1.19
Sortino ratio: Return per unit of downside risk	3.26	1.73	+1.53
Omega ratio: Gain probability vs. loss probability	1.45	1.20	+0.25
Calmar ratio: Return relative to maximum drawdown	2.94	1.75	+1.18
Martin ratio: Return relative to average drawdown	12.78	5.54	+7.24

SSBWX vs. SIVIX - Sharpe Ratio Comparison

The current SSBWX Sharpe Ratio is 2.31, which is higher than the SIVIX Sharpe Ratio of 1.12. The chart below compares the historical Sharpe Ratios of SSBWX and SIVIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SSBWX vs. SIVIX - Drawdown Comparison

The maximum SSBWX drawdown since its inception was -23.73%, smaller than the maximum SIVIX drawdown of -56.52%. Use the drawdown chart below to compare losses from any high point for SSBWX and SIVIX.

Drawdown Indicators

	SSBWX	SIVIX	Difference
Max Drawdown Largest peak-to-trough decline	-23.73%	-56.52%	+32.79%
Max Drawdown (1Y) Largest decline over 1 year	-6.20%	-10.92%	+4.72%
Max Drawdown (3Y) Largest decline over 3 years	-9.73%	-25.67%	+15.94%
Max Drawdown (5Y) Largest decline over 5 years	-23.73%	-26.51%	+2.78%
Max Drawdown (10Y) Largest decline over 10 years	-23.73%	-43.92%	+20.19%
Current Drawdown Current decline from peak	-0.33%	0.00%	-0.33%
Average Drawdown Average peak-to-trough decline	-4.15%	-8.81%	+4.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.42%	3.45%	-2.03%

Volatility

SSBWX vs. SIVIX - Volatility Comparison

The current volatility for State Street Target Retirement 2030 Fund (SSBWX) is 3.21%, while State Street Institutional Small-Cap Equity Fund (SIVIX) has a volatility of 4.92%. This indicates that SSBWX experiences smaller price fluctuations and is considered to be less risky than SIVIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SSBWX	SIVIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.21%	4.92%	-1.71%
Volatility (6M) Calculated over the trailing 6-month period	6.56%	11.97%	-5.41%
Volatility (1Y) Calculated over the trailing 1-year period	7.89%	17.13%	-9.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.71%	20.33%	-9.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.35%	21.13%	-9.78%

SSBWX vs. SIVIX - Expense Ratio Comparison

SSBWX has a 0.15% expense ratio, which is lower than SIVIX's 0.75% expense ratio.

Dividends

SSBWX vs. SIVIX - Dividend Comparison

SSBWX's dividend yield for the trailing twelve months is around 6.42%, less than SIVIX's 15.68% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SIVIX State Street Institutional Small-Cap Equity Fund	15.68%	17.59%	10.99%	7.77%	4.87%	16.56%	3.16%	6.27%	19.92%	9.35%	3.38%	13.07%
SSBWX State Street Target Retirement 2030 Fund	6.42%	6.91%	6.16%	4.11%	5.78%	6.18%	4.92%	6.65%	5.24%	0.46%	1.75%	2.11%

Frequently Asked Questions

Can I hold both SSBWX and SIVIX in my portfolio?

SSBWX and SIVIX have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SSBWX or SIVIX?

SIVIX has higher volatility (4.92%) compared to SSBWX (3.21%). In terms of maximum drawdown, SSBWX dropped -23.73% vs SIVIX's -56.52%.

Which has better risk-adjusted returns?

SSBWX currently has the higher Sharpe Ratio (2.31 vs 1.12), 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.