SSGLX vs. SSHQX
SSGLX (State Street Global All Cap Equity ex-U.S. Index Fund Class K) and SSHQX (State Street Hedged International Developed Equity Index Fund) are both mutual funds - SSGLX is a Global Equities fund tracking the MSCI ACWI ex USA Investable Market Index, while SSHQX is a Foreign Large Cap Equities fund managed by State Street. Over the past 10 years, SSGLX returned 9.82%/yr vs -10.86%/yr for SSHQX. Their correlation of 0.84 suggests significant overlap in exposure. SSGLX charges 0.07%/yr vs 0.20%/yr for SSHQX.
Performance
SSGLX vs. SSHQX - 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 SSHQX's 10.20% return. Over the past 10 years, SSGLX has outperformed SSHQX with an annualized return of 9.82%, while SSHQX has yielded a comparatively lower -10.86% 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%
SSHQX
- 1D
- 0.43%
- 1M
- 4.39%
- YTD
- 10.20%
- 6M
- 12.92%
- 1Y
- 24.83%
- 3Y*
- 18.08%
- 5Y*
- 13.32%
- 10Y*
- -10.86%
SSGLX vs. SSHQX - 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% |
SSHQX State Street Hedged International Developed Equity Index Fund | 10.20% | 23.42% | 13.71% | 19.74% | -4.73% | 19.32% | -89.75% | 24.83% | -9.27% | 16.85% |
Correlation
The correlation between SSGLX and SSHQX is 0.82, 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 | 0.82 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.81 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.83 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.83 |
Correlation (All Time) Calculated using the full available price history since Jan 5, 2016 | 0.84 |
The correlation between SSGLX and SSHQX has been stable across timeframes, ranging from 0.81 to 0.84 - a consistent structural relationship.
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Return for Risk
SSGLX vs. SSHQX — Risk / Return Rank
SSGLX
SSHQX
SSGLX vs. SSHQX - 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 State Street Hedged International Developed Equity Index Fund (SSHQX). 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 | SSHQX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.30 | ||
| Sortino ratioReturn per unit of downside risk | +0.42 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 1.41 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.89 | 2.56 | +0.33 |
| Martin ratioReturn relative to average drawdown | 11.22 | 10.66 | +0.56 |
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 | SSHQX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.40 | 2.09 | +0.30 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.59 | 1.00 | -0.41 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.61 | -0.34 | +0.95 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.45 | -0.34 | +0.78 |
Drawdowns
SSGLX vs. SSHQX - Drawdown Comparison
The maximum SSGLX drawdown since its inception was -35.88%, smaller than the maximum SSHQX drawdown of -92.12%. Use the drawdown chart below to compare losses from any high point for SSGLX and SSHQX.
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Drawdown Indicators
| SSGLX | SSHQX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.88% | -92.12% | +56.24% |
Max Drawdown (1Y)Largest decline over 1 year | -11.22% | -9.69% | -1.53% |
Max Drawdown (3Y)Largest decline over 3 years | -13.56% | -13.99% | +0.43% |
Max Drawdown (5Y)Largest decline over 5 years | -30.08% | -14.79% | -15.29% |
Max Drawdown (10Y)Largest decline over 10 years | -35.88% | -92.12% | +56.24% |
Current DrawdownCurrent decline from peak | 0.00% | -78.98% | +78.98% |
Average DrawdownAverage peak-to-trough decline | -8.23% | -52.29% | +44.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.88% | 2.32% | +0.56% |
Volatility
SSGLX vs. SSHQX - 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 State Street Hedged International Developed Equity Index Fund (SSHQX) at 3.49%. This indicates that SSGLX's price experiences larger fluctuations and is considered to be riskier than SSHQX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SSGLX | SSHQX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.55% | 3.49% | +1.06% |
Volatility (6M)Calculated over the trailing 6-month period | 11.38% | 9.73% | +1.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.56% | 11.84% | +1.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.74% | 13.42% | +1.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.24% | 32.24% | -16.00% |
SSGLX vs. SSHQX - Expense Ratio Comparison
SSGLX has a 0.07% expense ratio, which is lower than SSHQX's 0.20% 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. SSHQX - Dividend Comparison
SSGLX's dividend yield for the trailing twelve months is around 3.84%, more than SSHQX's 3.27% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
SSHQX State Street Hedged International Developed Equity Index Fund | 3.27% | 3.60% | 3.11% | 3.77% | 22.27% | 2.93% | 2.03% | 5.14% | 7.33% | 3.12% | 4.30% | 0.00% |
Frequently Asked Questions
SSGLX and SSHQX have a correlation of 0.82, 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 SSHQX (3.49%). In terms of maximum drawdown, SSGLX dropped -35.88% vs SSHQX's -92.12%.
SSGLX currently has the higher Sharpe Ratio (2.40 vs 2.09), 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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