SSFDX vs. NMKBX
SSFDX (State Street Aggregate Bond Index Fund) and NMKBX (North Square McKee Bond Fund) are both Intermediate Core Bond funds. Over the past 5 years, SSFDX returned -0.12%/yr vs 0.92%/yr for NMKBX. Their correlation of 0.94 suggests significant overlap in exposure. SSFDX charges 0.23%/yr vs 0.28%/yr for NMKBX.
Performance
SSFDX vs. NMKBX - Performance Comparison
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Returns By Period
In the year-to-date period, SSFDX achieves a 0.46% return, which is significantly lower than NMKBX's 0.49% return.
SSFDX
- 1D
- 0.13%
- 1M
- 0.74%
- YTD
- 0.46%
- 6M
- 0.38%
- 1Y
- 4.00%
- 3Y*
- 3.81%
- 5Y*
- -0.12%
- 10Y*
- 1.41%
NMKBX
- 1D
- 0.11%
- 1M
- 0.59%
- YTD
- 0.49%
- 6M
- 0.45%
- 1Y
- 4.12%
- 3Y*
- 4.42%
- 5Y*
- 0.92%
- 10Y*
- —
SSFDX vs. NMKBX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
SSFDX State Street Aggregate Bond Index Fund | 0.46% | 6.80% | 1.36% | 5.39% | -13.36% | -1.98% | 0.17% |
NMKBX North Square McKee Bond Fund | 0.49% | 7.26% | 1.78% | 5.96% | -9.46% | -1.24% | 0.10% |
Correlation
The correlation between SSFDX and NMKBX is 0.96 - 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 | 0.96 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.97 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.95 |
Correlation (All Time) Calculated using the full available price history since Dec 29, 2020 | 0.94 |
The correlation between SSFDX and NMKBX has been stable across timeframes, ranging from 0.94 to 0.97 - a consistent structural relationship.
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Return for Risk
SSFDX vs. NMKBX — Risk / Return Rank
SSFDX
NMKBX
SSFDX vs. NMKBX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for State Street Aggregate Bond Index Fund (SSFDX) and North Square McKee Bond Fund (NMKBX). 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.
| SSFDX | NMKBX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.02 | ||
| Sortino ratioReturn per unit of downside risk | -0.02 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.21 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 1.59 | 1.67 | -0.08 |
| Martin ratioReturn relative to average drawdown | 4.52 | 4.80 | -0.28 |
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Drawdowns
SSFDX vs. NMKBX - Drawdown Comparison
The maximum SSFDX drawdown since its inception was -26.93%, which is greater than NMKBX's maximum drawdown of -14.25%. Use the drawdown chart below to compare losses from any high point for SSFDX and NMKBX.
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Drawdown Indicators
| SSFDX | NMKBX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.93% | -14.25% | -12.68% |
Max Drawdown (1Y)Largest decline over 1 year | -2.75% | -2.69% | -0.06% |
Max Drawdown (3Y)Largest decline over 3 years | -6.13% | -6.84% | +0.71% |
Max Drawdown (5Y)Largest decline over 5 years | -18.19% | -14.25% | -3.94% |
Max Drawdown (10Y)Largest decline over 10 years | -26.93% | — | — |
Current DrawdownCurrent decline from peak | -3.21% | -1.34% | -1.87% |
Average DrawdownAverage peak-to-trough decline | -4.66% | -4.50% | -0.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.96% | 0.93% | +0.03% |
Volatility
SSFDX vs. NMKBX - Volatility Comparison
The current volatility for State Street Aggregate Bond Index Fund (SSFDX) is 1.08%, while North Square McKee Bond Fund (NMKBX) has a volatility of 1.18%. This indicates that SSFDX experiences smaller price fluctuations and is considered to be less risky than NMKBX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SSFDX | NMKBX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.08% | 1.18% | -0.10% |
Volatility (6M)Calculated over the trailing 6-month period | 2.73% | 2.79% | -0.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.69% | 3.74% | -0.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.93% | 5.44% | +0.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.12% | 5.23% | +8.89% |
SSFDX vs. NMKBX - Expense Ratio Comparison
SSFDX has a 0.23% expense ratio, which is lower than NMKBX's 0.28% expense ratio.
Dividends
SSFDX vs. NMKBX - Dividend Comparison
SSFDX's dividend yield for the trailing twelve months is around 4.11%, less than NMKBX's 4.19% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NMKBX North Square McKee Bond Fund | 4.19% | 4.25% | 4.19% | 3.54% | 2.12% | 0.77% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SSFDX State Street Aggregate Bond Index Fund | 4.11% | 3.64% | 3.59% | 2.95% | 2.27% | 3.12% | 3.00% | 3.15% | 2.79% | 2.43% | 2.19% | 4.63% |
Frequently Asked Questions
With a correlation of 0.96, SSFDX and NMKBX 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.
NMKBX has higher volatility (1.18%) compared to SSFDX (1.08%). In terms of maximum drawdown, SSFDX dropped -26.93% vs NMKBX's -14.25%.
NMKBX currently has the higher Sharpe Ratio (1.20 vs 1.19), 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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