SSCNX vs. SSGJX

Last updated Jun 3, 2026

SSCNX (State Street Target Retirement 2040 Fund) and SSGJX (State Street Global All Cap Equity ex-U.S. Index Fund) are both mutual funds - SSCNX is a Target Retirement Date fund managed by State Street, while SSGJX is a Foreign Large Cap Equities fund managed by State Street. Over the past 10 years, SSCNX returned 10.21%/yr vs -12.93%/yr for SSGJX. Their correlation of 0.87 suggests significant overlap in exposure. SSCNX charges 0.20%/yr vs 0.27%/yr for SSGJX.

Performance

SSCNX vs. SSGJX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street Target Retirement 2040 Fund (SSCNX) and State Street Global All Cap Equity ex-U.S. Index Fund (SSGJX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SSCNX achieves a 9.64% return, which is significantly lower than SSGJX's 14.17% return. Over the past 10 years, SSCNX has outperformed SSGJX with an annualized return of 10.21%, while SSGJX has yielded a comparatively lower -12.93% annualized return.

SSCNX

• 1D: 0.00%
• 1M: 3.49%
• YTD: 9.64%
• 6M: 10.64%
• 1Y: 23.80%
• 3Y*: 16.37%
• 5Y*: 7.51%
• 10Y*: 10.21%

SSGJX

• 1D: -0.24%
• 1M: 3.98%
• YTD: 14.17%
• 6M: 17.63%
• 1Y: 31.27%
• 3Y*: 19.32%
• 5Y*: 8.30%
• 10Y*: -12.93%

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

SSCNX vs. SSGJX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SSCNX State Street Target Retirement 2040 Fund	9.64%	19.00%	11.21%	17.68%	-18.55%	11.75%	18.72%	24.61%	-7.45%	18.32%
SSGJX State Street Global All Cap Equity ex-U.S. Index Fund	14.17%	32.51%	4.92%	15.59%	-16.57%	8.21%	-88.91%	21.27%	-14.19%	27.00%

Correlation

The correlation between SSCNX and SSGJX is 0.88, 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	0.88
Correlation (3Y) Calculated over the trailing 3-year period	0.85
Correlation (5Y) Calculated over the trailing 5-year period	0.86
Correlation (10Y) Calculated over the trailing 10-year period	0.87
Correlation (All Time) Calculated using the full available price history since Oct 2, 2014	0.87

The correlation between SSCNX and SSGJX has been stable across timeframes, ranging from 0.85 to 0.88 - a consistent structural relationship.

Return for Risk

SSCNX vs. SSGJX — Risk / Return Rank

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

SSCNX

SSCNX Risk / Return Rank: 71
SSCNX Sharpe Ratio Rank: 76
SSCNX Sortino Ratio Rank: 74
SSCNX Omega Ratio Rank: 74
SSCNX Calmar Ratio Rank: 63
SSCNX Martin Ratio Rank: 68

SSGJX

SSGJX Risk / Return Rank: 62
SSGJX Sharpe Ratio Rank: 67
SSGJX Sortino Ratio Rank: 65
SSGJX Omega Ratio Rank: 68
SSGJX Calmar Ratio Rank: 56
SSGJX Martin Ratio Rank: 55

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.

SSCNX vs. SSGJX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street Target Retirement 2040 Fund (SSCNX) and State Street Global All Cap Equity ex-U.S. Index Fund (SSGJX). 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.

	SSCNX	SSGJX	Difference
Sharpe ratio Return per unit of total volatility	2.53	2.41	+0.12
Sortino ratio Return per unit of downside risk	3.58	3.37	+0.21
Omega ratio Gain probability vs. loss probability	1.49	1.46	+0.03
Calmar ratio Return relative to maximum drawdown	3.05	2.90	+0.16
Martin ratio Return relative to average drawdown	13.16	11.27	+1.89
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SSCNX vs. SSGJX - Sharpe Ratio Comparison

The current SSCNX Sharpe Ratio is 2.53, which is comparable to the SSGJX Sharpe Ratio of 2.41. The chart below compares the historical Sharpe Ratios of SSCNX and SSGJX, 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

	SSCNX	SSGJX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.53	2.41	+0.12
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.59	0.57	+0.03
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.76	-0.40	+1.16
Sharpe Ratio (All Time) Calculated using the full available price history	0.69	-0.40	+1.08

Drawdowns

SSCNX vs. SSGJX - Drawdown Comparison

The maximum SSCNX drawdown since its inception was -27.49%, smaller than the maximum SSGJX drawdown of -92.55%. Use the drawdown chart below to compare losses from any high point for SSCNX and SSGJX.

Drawdown Indicators

	SSCNX	SSGJX	Difference
Max Drawdown Largest peak-to-trough decline	-27.49%	-92.55%	+65.06%
Max Drawdown (1Y) Largest decline over 1 year	-7.96%	-11.23%	+3.27%
Max Drawdown (3Y) Largest decline over 3 years	-12.72%	-13.61%	+0.89%
Max Drawdown (5Y) Largest decline over 5 years	-26.14%	-30.19%	+4.05%
Max Drawdown (10Y) Largest decline over 10 years	-27.49%	-92.55%	+65.06%
Current Drawdown Current decline from peak	0.00%	-82.21%	+82.21%
Average Drawdown Average peak-to-trough decline	-4.77%	-50.61%	+45.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.85%	2.89%	-1.04%

Volatility

SSCNX vs. SSGJX - Volatility Comparison

The current volatility for State Street Target Retirement 2040 Fund (SSCNX) is 3.07%, while State Street Global All Cap Equity ex-U.S. Index Fund (SSGJX) has a volatility of 4.53%. This indicates that SSCNX experiences smaller price fluctuations and is considered to be less risky than SSGJX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SSCNX	SSGJX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.07%	4.53%	-1.46%
Volatility (6M) Calculated over the trailing 6-month period	7.75%	11.38%	-3.63%
Volatility (1Y) Calculated over the trailing 1-year period	9.64%	13.57%	-3.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.73%	14.74%	-2.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.46%	32.57%	-19.11%

SSCNX vs. SSGJX - Expense Ratio Comparison

SSCNX has a 0.20% expense ratio, which is lower than SSGJX's 0.27% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

SSCNX vs. SSGJX - Dividend Comparison

SSCNX's dividend yield for the trailing twelve months is around 6.57%, more than SSGJX's 3.80% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SSCNX State Street Target Retirement 2040 Fund	6.57%	7.21%	4.97%	3.78%	5.39%	5.58%	4.63%	6.31%	5.11%	0.38%	1.77%	1.96%
SSGJX State Street Global All Cap Equity ex-U.S. Index Fund	3.80%	4.34%	4.43%	2.93%	2.73%	4.07%	1.57%	4.69%	8.03%	3.98%	1.52%	2.09%

Frequently Asked Questions

Can I hold both SSCNX and SSGJX in my portfolio?

SSCNX and SSGJX have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SSCNX or SSGJX?

SSGJX has higher volatility (4.53%) compared to SSCNX (3.07%). In terms of maximum drawdown, SSCNX dropped -27.49% vs SSGJX's -92.55%.

Which has better risk-adjusted returns?

SSCNX currently has the higher Sharpe Ratio (2.53 vs 2.41), 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.