SSGVX vs. ELFNX

Last updated Aug 1, 2026

SSGVX (State Street Global All Cap Equity ex-U.S.Index Portfolio) and ELFNX (Elfun Trusts) are both mutual funds - SSGVX is a Foreign Large Cap Equities fund managed by State Street, while ELFNX is a Large Cap Growth Equities fund managed by State Street. Over the past 10 years, SSGVX returned 37.71%/yr vs 15.91%/yr for ELFNX. Their 0.68 correlation means they have sometimes moved together and sometimes differently. SSGVX charges 0.05%/yr vs 0.18%/yr for ELFNX.

Performance

SSGVX vs. ELFNX - 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 Portfolio (SSGVX) and Elfun Trusts (ELFNX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SSGVX achieves a 12.83% return, which is significantly higher than ELFNX's 5.44% return. Over the past 10 years, SSGVX has outperformed ELFNX with an annualized return of 37.71%, while ELFNX has yielded a comparatively lower 15.91% annualized return.

SSGVX

• 1D: 2.99%
• 1M: -0.39%
• 6M: 6.34%
• YTD: 12.83%
• 1Y: 28.10%
• 3Y*: 16.90%
• 5Y*: 8.80%
• 10Y*: 37.71%
• ALL TIME*: 29.80%

ELFNX

• 1D: 2.33%
• 1M: -0.01%
• 6M: 4.39%
• YTD: 5.44%
• 1Y: 14.45%
• 3Y*: 18.91%
• 5Y*: 12.07%
• 10Y*: 15.91%
• ALL TIME*: 11.00%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
ELFNX Elfun Trusts	$0.00	$0.00	$0.00
SSGVX State Street Global All Cap Equity ex-U.S.Index Portfolio	$0.00	$0.00	$0.00

SSGVX vs. ELFNX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SSGVX State Street Global All Cap Equity ex-U.S.Index Portfolio	12.83%	32.69%	5.01%	15.71%	-16.42%	8.42%	1,010.40%	21.71%	-14.01%	27.18%
ELFNX Elfun Trusts	5.44%	16.64%	26.91%	34.50%	-19.91%	24.46%	25.18%	35.57%	-3.25%	25.60%

Correlation

The correlation between SSGVX and ELFNX is 0.66, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.66
Correlation (3Y) Balances recent behavior with more history.	0.61
Correlation (5Y) Shows whether the relationship held over a longer period.	0.66
Correlation (10Y) Provides a long-term view across more market conditions.	0.67
Correlation (All Time) Calculated using the full available price history since Sep 18, 2014	0.68

The correlation between SSGVX and ELFNX has been stable across timeframes, ranging from 0.61 to 0.68 - a consistent structural relationship.

Return for Risk

SSGVX vs. ELFNX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

SSGVX

SSGVX Risk / Return Rank: 73
SSGVX Sharpe Ratio Rank: 75
SSGVX Sortino Ratio Rank: 72
SSGVX Omega Ratio Rank: 75
SSGVX Calmar Ratio Rank: 72
SSGVX Martin Ratio Rank: 71

ELFNX

ELFNX Risk / Return Rank: 27
ELFNX Sharpe Ratio Rank: 28
ELFNX Sortino Ratio Rank: 27
ELFNX Omega Ratio Rank: 27
ELFNX Calmar Ratio Rank: 24
ELFNX Martin Ratio Rank: 30

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

SSGVX vs. ELFNX - 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 Portfolio (SSGVX) and Elfun Trusts (ELFNX). 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.

	SSGVX	ELFNX	Difference
Sharpe ratio: Return per unit of total volatility	1.70	0.92	+0.78
Sortino ratio: Return per unit of downside risk	2.40	1.34	+1.06
Omega ratio: Gain probability vs. loss probability	1.32	1.17	+0.16
Calmar ratio: Return relative to maximum drawdown	2.31	1.10	+1.21
Martin ratio: Return relative to average drawdown	8.49	4.21	+4.28

SSGVX vs. ELFNX - Sharpe Ratio Comparison

The current SSGVX Sharpe Ratio is 1.70, which is higher than the ELFNX Sharpe Ratio of 0.92. The chart below compares the historical Sharpe Ratios of SSGVX and ELFNX, 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

SSGVX vs. ELFNX - Drawdown Comparison

The maximum SSGVX drawdown since its inception was -35.79%, smaller than the maximum ELFNX drawdown of -50.28%. Use the drawdown chart below to compare losses from any high point for SSGVX and ELFNX.

Drawdown Indicators

	SSGVX	ELFNX	Difference
Max Drawdown Largest peak-to-trough decline	-35.79%	-50.28%	+14.49%
Max Drawdown (1Y) Largest decline over 1 year	-11.22%	-11.40%	+0.18%
Max Drawdown (3Y) Largest decline over 3 years	-13.54%	-19.58%	+6.04%
Max Drawdown (5Y) Largest decline over 5 years	-30.03%	-26.39%	-3.64%
Max Drawdown (10Y) Largest decline over 10 years	-35.79%	-32.44%	-3.35%
Current Drawdown Current decline from peak	-2.45%	-2.18%	-0.27%
Average Drawdown Average peak-to-trough decline	-7.68%	-7.61%	-0.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.04%	2.97%	+0.07%

Volatility

SSGVX vs. ELFNX - Volatility Comparison

State Street Global All Cap Equity ex-U.S.Index Portfolio (SSGVX) has a higher volatility of 4.87% compared to Elfun Trusts (ELFNX) at 4.06%. This indicates that SSGVX's price experiences larger fluctuations and is considered to be riskier than ELFNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SSGVX	ELFNX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.87%	4.06%	+0.81%
Volatility (6M) Calculated over the trailing 6-month period	13.31%	10.65%	+2.66%
Volatility (1Y) Calculated over the trailing 1-year period	15.17%	13.58%	+1.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.07%	18.01%	-2.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	282.23%	18.38%	+263.85%

SSGVX vs. ELFNX - Expense Ratio Comparison

SSGVX has a 0.05% expense ratio, which is lower than ELFNX's 0.18% 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

SSGVX vs. ELFNX - Dividend Comparison

SSGVX's dividend yield for the trailing twelve months is around 2.95%, less than ELFNX's 9.36% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ELFNX Elfun Trusts	9.36%	9.87%	10.43%	2.90%	9.01%	11.62%	8.60%	9.39%	16.18%	10.80%	8.85%	8.22%
SSGVX State Street Global All Cap Equity ex-U.S.Index Portfolio	2.95%	3.33%	3.09%	2.96%	2.35%	2.58%	1.66%	2.96%	3.02%	2.77%	1.56%	2.16%

Frequently Asked Questions

Can I hold both SSGVX and ELFNX in my portfolio?

SSGVX and ELFNX have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SSGVX or ELFNX?

SSGVX has higher volatility (4.87%) compared to ELFNX (4.06%). In terms of maximum drawdown, SSGVX dropped -35.79% vs ELFNX's -50.28%.

Which has better risk-adjusted returns?

SSGVX currently has the higher Sharpe Ratio (1.70 vs 0.92), 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.