SSGLX vs. ELFTX
SSGLX (State Street Global All Cap Equity ex-U.S. Index Fund Class K) and ELFTX (Elfun Tax Exempt Income Fund) are both mutual funds - SSGLX is a Global Equities fund tracking the MSCI ACWI ex USA Investable Market Index, while ELFTX is a Municipal Bonds fund managed by State Street. Over the past 10 years, SSGLX returned 9.82%/yr vs 1.49%/yr for ELFTX. At a 0.02 correlation, their price movements are largely independent. SSGLX charges 0.07%/yr vs 0.21%/yr for ELFTX.
Performance
SSGLX vs. ELFTX - Performance Comparison
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Returns By Period
In the year-to-date period, SSGLX achieves a 14.98% return, which is significantly higher than ELFTX's 1.52% return. Over the past 10 years, SSGLX has outperformed ELFTX with an annualized return of 9.82%, while ELFTX has yielded a comparatively lower 1.49% annualized return.
SSGLX
- 1D
- 0.67%
- 1M
- 4.89%
- YTD
- 14.98%
- 6M
- 18.09%
- 1Y
- 32.74%
- 3Y*
- 19.68%
- 5Y*
- 8.65%
- 10Y*
- 9.82%
ELFTX
- 1D
- 0.20%
- 1M
- 0.62%
- YTD
- 1.52%
- 6M
- 1.97%
- 1Y
- 7.31%
- 3Y*
- 2.32%
- 5Y*
- -0.06%
- 10Y*
- 1.49%
SSGLX vs. ELFTX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SSGLX State Street Global All Cap Equity ex-U.S. Index Fund Class K | 14.98% | 32.64% | 4.98% | 15.67% | -16.44% | 8.36% | 11.11% | 21.52% | -14.05% | 27.12% |
ELFTX Elfun Tax Exempt Income Fund | 1.52% | 3.29% | -0.14% | 4.27% | -8.97% | 0.87% | 4.50% | 7.13% | 0.91% | 4.72% |
Correlation
The correlation between SSGLX and ELFTX is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.39 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.25 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.20 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.07 |
Correlation (All Time) Calculated using the full available price history since Sep 19, 2014 | 0.02 |
Over the past year, SSGLX and ELFTX have become more correlated (0.39) than their long-term average of 0.02, meaning their price movements have been converging.
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Return for Risk
SSGLX vs. ELFTX — Risk / Return Rank
SSGLX
ELFTX
SSGLX vs. ELFTX - 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 Class K (SSGLX) and Elfun Tax Exempt Income Fund (ELFTX). 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.
| SSGLX | ELFTX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.23 | ||
| Sortino ratioReturn per unit of downside risk | -0.85 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 1.65 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | 2.89 | 2.59 | +0.30 |
| Martin ratioReturn relative to average drawdown | 11.22 | 9.19 | +2.04 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SSGLX | ELFTX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.40 | 2.62 | -0.23 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.59 | -0.01 | +0.60 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.61 | 0.39 | +0.22 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.45 | 0.71 | -0.27 |
Drawdowns
SSGLX vs. ELFTX - Drawdown Comparison
The maximum SSGLX drawdown since its inception was -35.88%, which is greater than ELFTX's maximum drawdown of -19.15%. Use the drawdown chart below to compare losses from any high point for SSGLX and ELFTX.
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Drawdown Indicators
| SSGLX | ELFTX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.88% | -19.15% | -16.73% |
Max Drawdown (1Y)Largest decline over 1 year | -11.22% | -2.79% | -8.43% |
Max Drawdown (3Y)Largest decline over 3 years | -13.56% | -6.54% | -7.02% |
Max Drawdown (5Y)Largest decline over 5 years | -30.08% | -13.59% | -16.49% |
Max Drawdown (10Y)Largest decline over 10 years | -35.88% | -13.59% | -22.29% |
Current DrawdownCurrent decline from peak | 0.00% | -1.21% | +1.21% |
Average DrawdownAverage peak-to-trough decline | -8.23% | -3.42% | -4.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.88% | 0.79% | +2.09% |
Volatility
SSGLX vs. ELFTX - Volatility Comparison
State Street Global All Cap Equity ex-U.S. Index Fund Class K (SSGLX) has a higher volatility of 4.55% compared to Elfun Tax Exempt Income Fund (ELFTX) at 1.08%. This indicates that SSGLX's price experiences larger fluctuations and is considered to be riskier than ELFTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SSGLX | ELFTX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.55% | 1.08% | +3.47% |
Volatility (6M)Calculated over the trailing 6-month period | 11.38% | 2.06% | +9.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.56% | 2.78% | +10.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.74% | 3.90% | +10.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.24% | 3.86% | +12.38% |
SSGLX vs. ELFTX - Expense Ratio Comparison
SSGLX has a 0.07% expense ratio, which is lower than ELFTX's 0.21% 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
SSGLX vs. ELFTX - Dividend Comparison
SSGLX's dividend yield for the trailing twelve months is around 3.84%, less than ELFTX's 3.94% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ELFTX Elfun Tax Exempt Income Fund | 3.94% | 3.99% | 2.66% | 2.88% | 3.09% | 2.61% | 3.24% | 3.78% | 4.09% | 4.00% | 4.00% | 3.82% |
SSGLX State Street Global All Cap Equity ex-U.S. Index Fund Class K | 3.84% | 4.41% | 4.46% | 2.98% | 2.85% | 4.20% | 1.72% | 4.80% | 8.32% | 3.98% | 1.52% | 2.09% |
Frequently Asked Questions
SSGLX and ELFTX have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SSGLX has higher volatility (4.55%) compared to ELFTX (1.08%). In terms of maximum drawdown, SSGLX dropped -35.88% vs ELFTX's -19.15%.
ELFTX currently has the higher Sharpe Ratio (2.62 vs 2.40), 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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