SSBWX vs. SSMKX

Last updated Aug 4, 2026

SSBWX (State Street Target Retirement 2030 Fund) and SSMKX (State Street Small/Mid Cap Equity Index Fund) are both mutual funds - SSBWX is a Target Retirement Date fund managed by State Street, while SSMKX is a Mid Cap Blend Equities fund managed by State Street. Over the past 10 years, SSBWX returned 8.63%/yr vs 12.04%/yr for SSMKX. Their correlation of 0.86 means they have usually moved in the same direction. SSBWX charges 0.15%/yr vs 0.04%/yr for SSMKX.

Performance

SSBWX vs. SSMKX - 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 Small/Mid Cap Equity Index Fund (SSMKX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SSBWX achieves a 6.95% return, which is significantly lower than SSMKX's 13.33% return. Over the past 10 years, SSBWX has underperformed SSMKX with an annualized return of 8.63%, while SSMKX has yielded a comparatively higher 12.04% annualized return.

SSBWX

• 1D: 0.20%
• 1M: -0.27%
• 6M: 4.63%
• YTD: 6.95%
• 1Y: 14.79%
• 3Y*: 12.23%
• 5Y*: 5.90%
• 10Y*: 8.63%
• ALL TIME*: 7.94%

SSMKX

• 1D: -0.48%
• 1M: -2.89%
• 6M: 9.84%
• YTD: 13.33%
• 1Y: 23.89%
• 3Y*: 16.42%
• 5Y*: 6.77%
• 10Y*: 12.04%
• ALL TIME*: 12.23%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
SSBWX State Street Target Retirement 2030 Fund	$0.00	$0.00	$0.00
SSMKX State Street Small/Mid Cap Equity Index Fund	$0.00	$0.00	$0.00

SSBWX vs. SSMKX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SSBWX State Street Target Retirement 2030 Fund	6.95%	15.92%	9.76%	15.66%	-17.17%	10.75%	17.27%	22.52%	-6.23%	16.05%
SSMKX State Street Small/Mid Cap Equity Index Fund	13.33%	12.77%	17.20%	25.20%	-25.49%	12.38%	32.41%	27.82%	-9.02%	18.16%

Correlation

The correlation between SSBWX and SSMKX is 0.83, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.83
Correlation (3Y) Balances recent behavior with more history.	0.85
Correlation (5Y) Shows whether the relationship held over a longer period.	0.87
Correlation (10Y) Provides a long-term view across more market conditions.	0.86
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016	0.86

The correlation between SSBWX and SSMKX has been stable across timeframes, ranging from 0.83 to 0.87 - a consistent structural relationship.

Return for Risk

SSBWX vs. SSMKX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

SSBWX

SSBWX Risk / Return Rank: 72
SSBWX Sharpe Ratio Rank: 73
SSBWX Sortino Ratio Rank: 72
SSBWX Omega Ratio Rank: 74
SSBWX Calmar Ratio Rank: 66
SSBWX Martin Ratio Rank: 77

SSMKX

SSMKX Risk / Return Rank: 43
SSMKX Sharpe Ratio Rank: 37
SSMKX Sortino Ratio Rank: 37
SSMKX Omega Ratio Rank: 34
SSMKX Calmar Ratio Rank: 57
SSMKX Martin Ratio Rank: 51

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

SSBWX vs. SSMKX - 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 Small/Mid Cap Equity Index Fund (SSMKX). 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	SSMKX	Difference
Sharpe ratio: Return per unit of total volatility	1.78	1.23	+0.55
Sortino ratio: Return per unit of downside risk	2.53	1.81	+0.72
Omega ratio: Gain probability vs. loss probability	1.34	1.22	+0.12
Calmar ratio: Return relative to maximum drawdown	2.32	2.15	+0.17
Martin ratio: Return relative to average drawdown	9.81	7.47	+2.35

SSBWX vs. SSMKX - Sharpe Ratio Comparison

The current SSBWX Sharpe Ratio is 1.78, which is higher than the SSMKX Sharpe Ratio of 1.23. The chart below compares the historical Sharpe Ratios of SSBWX and SSMKX, 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. SSMKX - Drawdown Comparison

The maximum SSBWX drawdown since its inception was -23.73%, smaller than the maximum SSMKX drawdown of -41.65%. Use the drawdown chart below to compare losses from any high point for SSBWX and SSMKX.

Drawdown Indicators

	SSBWX	SSMKX	Difference
Max Drawdown Largest peak-to-trough decline	-23.73%	-41.65%	+17.92%
Max Drawdown (1Y) Largest decline over 1 year	-6.20%	-10.03%	+3.83%
Max Drawdown (3Y) Largest decline over 3 years	-9.73%	-26.31%	+16.58%
Max Drawdown (5Y) Largest decline over 5 years	-23.73%	-35.19%	+11.46%
Max Drawdown (10Y) Largest decline over 10 years	-23.73%	-41.65%	+17.92%
Current Drawdown Current decline from peak	-0.93%	-3.87%	+2.94%
Average Drawdown Average peak-to-trough decline	-4.12%	-8.59%	+4.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.46%	2.88%	-1.42%

Volatility

SSBWX vs. SSMKX - Volatility Comparison

The current volatility for State Street Target Retirement 2030 Fund (SSBWX) is 2.21%, while State Street Small/Mid Cap Equity Index Fund (SSMKX) has a volatility of 3.92%. This indicates that SSBWX experiences smaller price fluctuations and is considered to be less risky than SSMKX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SSBWX	SSMKX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.21%	3.92%	-1.71%
Volatility (6M) Calculated over the trailing 6-month period	6.75%	13.24%	-6.49%
Volatility (1Y) Calculated over the trailing 1-year period	8.09%	17.53%	-9.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.73%	22.31%	-11.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.28%	22.24%	-10.96%

SSBWX vs. SSMKX - Expense Ratio Comparison

SSBWX has a 0.15% expense ratio, which is higher than SSMKX's 0.05% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

SSBWX vs. SSMKX - Dividend Comparison

SSBWX's dividend yield for the trailing twelve months is around 6.46%, more than SSMKX's 4.50% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SSBWX State Street Target Retirement 2030 Fund	6.46%	6.91%	6.16%	4.11%	5.78%	6.18%	4.92%	6.65%	5.24%	0.46%	1.75%	2.11%
SSMKX State Street Small/Mid Cap Equity Index Fund	4.50%	5.10%	2.12%	2.56%	17.09%	9.69%	1.47%	5.75%	3.68%	5.52%	1.30%	0.00%

Frequently Asked Questions

Can I hold both SSBWX and SSMKX in my portfolio?

SSBWX and SSMKX have a correlation of 0.83, 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 SSMKX?

SSMKX has higher volatility (3.92%) compared to SSBWX (2.21%). In terms of maximum drawdown, SSBWX dropped -23.73% vs SSMKX's -41.65%.

Which has better risk-adjusted returns?

SSBWX currently has the higher Sharpe Ratio (1.78 vs 1.23), 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.