SSCNX vs. VFORX

Last updated Jun 24, 2026

SSCNX (State Street Target Retirement 2040 Fund) and VFORX (Vanguard Target Retirement 2040 Fund) are both Target Retirement Date funds. Over the past 10 years, SSCNX returned 10.56%/yr vs 10.97%/yr for VFORX. With a 0.98 correlation, they move nearly in lockstep. SSCNX charges 0.20%/yr vs 0.08%/yr for VFORX.

Performance

SSCNX vs. VFORX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street Target Retirement 2040 Fund (SSCNX) and Vanguard Target Retirement 2040 Fund (VFORX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with SSCNX having a 9.64% return and VFORX slightly lower at 9.51%. Both investments have delivered pretty close results over the past 10 years, with SSCNX having a 10.56% annualized return and VFORX not far ahead at 10.97%.

SSCNX

• 1D: -0.17%
• 1M: 1.54%
• YTD: 9.64%
• 6M: 9.06%
• 1Y: 22.65%
• 3Y*: 16.10%
• 5Y*: 7.45%
• 10Y*: 10.56%

VFORX

• 1D: -0.15%
• 1M: 1.41%
• YTD: 9.51%
• 6M: 9.03%
• 1Y: 22.39%
• 3Y*: 16.82%
• 5Y*: 8.64%
• 10Y*: 10.97%

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

SSCNX vs. VFORX - 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%
VFORX Vanguard Target Retirement 2040 Fund	9.51%	18.77%	12.90%	18.56%	-17.00%	14.55%	15.48%	23.86%	-7.32%	18.45%

Correlation

The correlation between SSCNX and VFORX is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.97
Correlation (3Y) Calculated over the trailing 3-year period	0.97
Correlation (5Y) Calculated over the trailing 5-year period	0.98
Correlation (10Y) Calculated over the trailing 10-year period	0.98
Correlation (All Time) Calculated using the full available price history since Oct 1, 2014	0.98

The correlation between SSCNX and VFORX has been stable across timeframes, ranging from 0.97 to 0.98 - a consistent structural relationship.

Return for Risk

SSCNX vs. VFORX — Risk / Return Rank

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

SSCNX

SSCNX Risk / Return Rank: 69
SSCNX Sharpe Ratio Rank: 72
SSCNX Sortino Ratio Rank: 70
SSCNX Omega Ratio Rank: 74
SSCNX Calmar Ratio Rank: 64
SSCNX Martin Ratio Rank: 68

VFORX

VFORX Risk / Return Rank: 70
VFORX Sharpe Ratio Rank: 72
VFORX Sortino Ratio Rank: 69
VFORX Omega Ratio Rank: 69
VFORX Calmar Ratio Rank: 68
VFORX Martin Ratio Rank: 73

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. VFORX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street Target Retirement 2040 Fund (SSCNX) and Vanguard Target Retirement 2040 Fund (VFORX). 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.

	SSCNX	VFORX	Difference
Sharpe ratio: Return per unit of total volatility	2.27	2.26	+0.01
Sortino ratio: Return per unit of downside risk	3.17	3.14	+0.04
Omega ratio: Gain probability vs. loss probability	1.44	1.42	+0.02
Calmar ratio: Return relative to maximum drawdown	2.93	3.02	-0.09
Martin ratio: Return relative to average drawdown	12.36	13.04	-0.68

SSCNX vs. VFORX - Sharpe Ratio Comparison

The current SSCNX Sharpe Ratio is 2.27, which is comparable to the VFORX Sharpe Ratio of 2.26. The chart below compares the historical Sharpe Ratios of SSCNX and VFORX, 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

SSCNX vs. VFORX - Drawdown Comparison

The maximum SSCNX drawdown since its inception was -27.49%, smaller than the maximum VFORX drawdown of -51.63%. Use the drawdown chart below to compare losses from any high point for SSCNX and VFORX.

Drawdown Indicators

	SSCNX	VFORX	Difference
Max Drawdown Largest peak-to-trough decline	-27.49%	-51.63%	+24.14%
Max Drawdown (1Y) Largest decline over 1 year	-7.96%	-7.70%	-0.26%
Max Drawdown (3Y) Largest decline over 3 years	-12.72%	-12.12%	-0.60%
Max Drawdown (5Y) Largest decline over 5 years	-26.14%	-24.32%	-1.82%
Max Drawdown (10Y) Largest decline over 10 years	-27.49%	-29.35%	+1.86%
Current Drawdown Current decline from peak	-0.41%	-0.55%	+0.14%
Average Drawdown Average peak-to-trough decline	-4.75%	-6.76%	+2.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.88%	1.78%	+0.10%

Volatility

SSCNX vs. VFORX - Volatility Comparison

State Street Target Retirement 2040 Fund (SSCNX) and Vanguard Target Retirement 2040 Fund (VFORX) have volatilities of 4.13% and 4.07%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SSCNX	VFORX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.13%	4.07%	+0.06%
Volatility (6M) Calculated over the trailing 6-month period	8.55%	8.54%	+0.01%
Volatility (1Y) Calculated over the trailing 1-year period	10.30%	10.32%	-0.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.83%	12.52%	+0.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.50%	13.70%	-0.20%

SSCNX vs. VFORX - Expense Ratio Comparison

SSCNX has a 0.20% expense ratio, which is higher than VFORX's 0.08% 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

SSCNX vs. VFORX - Dividend Comparison

SSCNX's dividend yield for the trailing twelve months is around 6.57%, more than VFORX's 2.53% 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%
VFORX Vanguard Target Retirement 2040 Fund	2.53%	2.77%	2.86%	2.38%	2.60%	20.68%	2.06%	2.28%	2.58%	0.04%	2.40%	2.99%

Frequently Asked Questions

Can I hold both SSCNX and VFORX in my portfolio?

With a correlation of 0.97, SSCNX and VFORX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, SSCNX or VFORX?

SSCNX has higher volatility (4.13%) compared to VFORX (4.07%). In terms of maximum drawdown, SSCNX dropped -27.49% vs VFORX's -51.63%.

Which has better risk-adjusted returns?

SSCNX currently has the higher Sharpe Ratio (2.27 vs 2.26), 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.