SSGJX vs. SSCNX

Last updated Jun 4, 2026

SSGJX (State Street Global All Cap Equity ex-U.S. Index Fund) and SSCNX (State Street Target Retirement 2040 Fund) are both mutual funds - SSGJX is a Foreign Large Cap Equities fund managed by State Street, while SSCNX is a Target Retirement Date fund managed by State Street. Over the past 10 years, SSGJX returned -12.87%/yr vs 10.26%/yr for SSCNX. Their correlation of 0.87 suggests significant overlap in exposure. SSGJX charges 0.27%/yr vs 0.20%/yr for SSCNX.

Performance

SSGJX vs. SSCNX - Performance Comparison

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

Returns By Period

In the year-to-date period, SSGJX achieves a 14.94% return, which is significantly higher than SSCNX's 10.08% return. Over the past 10 years, SSGJX has underperformed SSCNX with an annualized return of -12.87%, while SSCNX has yielded a comparatively higher 10.26% annualized return.

SSGJX

• 1D: 0.68%
• 1M: 4.88%
• YTD: 14.94%
• 6M: 18.01%
• 1Y: 32.61%
• 3Y*: 19.58%
• 5Y*: 8.53%
• 10Y*: -12.87%

SSCNX

• 1D: 0.41%
• 1M: 4.29%
• YTD: 10.08%
• 6M: 10.69%
• 1Y: 24.06%
• 3Y*: 16.53%
• 5Y*: 7.69%
• 10Y*: 10.26%

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

SSGJX vs. SSCNX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SSGJX State Street Global All Cap Equity ex-U.S. Index Fund	14.94%	32.51%	4.92%	15.59%	-16.57%	8.21%	-88.91%	21.27%	-14.19%	27.00%
SSCNX State Street Target Retirement 2040 Fund	10.08%	19.00%	11.21%	17.68%	-18.55%	11.75%	18.72%	24.61%	-7.45%	18.32%

Correlation

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

Return for Risk

SSGJX vs. SSCNX — Risk / Return Rank

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

SSGJX

SSGJX Risk / Return Rank: 62
SSGJX Sharpe Ratio Rank: 66
SSGJX Sortino Ratio Rank: 64
SSGJX Omega Ratio Rank: 67
SSGJX Calmar Ratio Rank: 56
SSGJX Martin Ratio Rank: 55

SSCNX

SSCNX Risk / Return Rank: 71
SSCNX Sharpe Ratio Rank: 77
SSCNX Sortino Ratio Rank: 74
SSCNX Omega Ratio Rank: 75
SSCNX Calmar Ratio Rank: 63
SSCNX Martin Ratio Rank: 68

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.

SSGJX vs. SSCNX - Risk-Adjusted Trends Comparison

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

	SSGJX	SSCNX	Difference
Sharpe ratio: Return per unit of total volatility	2.39	2.54	-0.15
Sortino ratio: Return per unit of downside risk	3.34	3.59	-0.26
Omega ratio: Gain probability vs. loss probability	1.46	1.49	-0.03
Calmar ratio: Return relative to maximum drawdown	2.88	3.07	-0.19
Martin ratio: Return relative to average drawdown	11.16	13.19	-2.03
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SSGJX vs. SSCNX - Sharpe Ratio Comparison

The current SSGJX Sharpe Ratio is 2.39, which is comparable to the SSCNX Sharpe Ratio of 2.54. The chart below compares the historical Sharpe Ratios of SSGJX and SSCNX, 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

	SSGJX	SSCNX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.39	2.54	-0.15
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.58	0.61	-0.03
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.40	0.76	-1.16
Sharpe Ratio (All Time) Calculated using the full available price history	-0.39	0.69	-1.08

Drawdowns

SSGJX vs. SSCNX - Drawdown Comparison

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

Drawdown Indicators

	SSGJX	SSCNX	Difference
Max Drawdown Largest peak-to-trough decline	-92.55%	-27.49%	-65.06%
Max Drawdown (1Y) Largest decline over 1 year	-11.23%	-7.96%	-3.27%
Max Drawdown (3Y) Largest decline over 3 years	-13.61%	-12.72%	-0.89%
Max Drawdown (5Y) Largest decline over 5 years	-30.19%	-26.14%	-4.05%
Max Drawdown (10Y) Largest decline over 10 years	-92.55%	-27.49%	-65.06%
Current Drawdown Current decline from peak	-82.09%	0.00%	-82.09%
Average Drawdown Average peak-to-trough decline	-50.62%	-4.77%	-45.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.89%	1.85%	+1.04%

Volatility

SSGJX vs. SSCNX - Volatility Comparison

State Street Global All Cap Equity ex-U.S. Index Fund (SSGJX) has a higher volatility of 4.56% compared to State Street Target Retirement 2040 Fund (SSCNX) at 3.08%. This indicates that SSGJX's price experiences larger fluctuations and is considered to be riskier than SSCNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SSGJX	SSCNX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.56%	3.08%	+1.48%
Volatility (6M) Calculated over the trailing 6-month period	11.38%	7.75%	+3.63%
Volatility (1Y) Calculated over the trailing 1-year period	13.56%	9.63%	+3.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.74%	12.73%	+2.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.57%	13.47%	+19.10%

SSGJX vs. SSCNX - Expense Ratio Comparison

SSGJX has a 0.27% expense ratio, which is higher than SSCNX's 0.20% 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

SSGJX vs. SSCNX - Dividend Comparison

SSGJX's dividend yield for the trailing twelve months is around 3.78%, less than SSCNX's 6.55% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SSCNX State Street Target Retirement 2040 Fund	6.55%	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	3.78%	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 SSGJX and SSCNX in my portfolio?

SSGJX and SSCNX 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, SSGJX or SSCNX?

SSGJX has higher volatility (4.56%) compared to SSCNX (3.08%). In terms of maximum drawdown, SSGJX dropped -92.55% vs SSCNX's -27.49%.

Which has better risk-adjusted returns?

SSCNX currently has the higher Sharpe Ratio (2.54 vs 2.39), 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.