SSGVX vs. SSHQX
SSGVX (State Street Global All Cap Equity ex-U.S.Index Portfolio) and SSHQX (State Street Hedged International Developed Equity Index Fund) are both Foreign Large Cap Equities funds from State Street. Over the past 10 years, SSGVX returned 38.32%/yr vs -10.86%/yr for SSHQX. Their correlation of 0.83 suggests significant overlap in exposure. SSGVX charges 0.05%/yr vs 0.20%/yr for SSHQX.
Performance
SSGVX vs. SSHQX - Performance Comparison
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Returns By Period
In the year-to-date period, SSGVX achieves a 14.99% return, which is significantly higher than SSHQX's 10.20% return. Over the past 10 years, SSGVX has outperformed SSHQX with an annualized return of 38.32%, while SSHQX has yielded a comparatively lower -10.86% annualized return.
SSGVX
- 1D
- 0.67%
- 1M
- 4.89%
- YTD
- 14.99%
- 6M
- 18.12%
- 1Y
- 32.80%
- 3Y*
- 19.72%
- 5Y*
- 8.69%
- 10Y*
- 38.32%
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%
SSGVX vs. SSHQX - 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 | 14.99% | 32.69% | 5.01% | 15.71% | -16.42% | 8.42% | 1,010.40% | 21.71% | -14.01% | 27.18% |
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 SSGVX 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 | 0.83 |
The correlation between SSGVX and SSHQX has been stable across timeframes, ranging from 0.81 to 0.83 - a consistent structural relationship.
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Return for Risk
SSGVX vs. SSHQX — Risk / Return Rank
SSGVX
SSHQX
SSGVX 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 Portfolio (SSGVX) 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.
| SSGVX | SSHQX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.31 | ||
| 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 | 2.90 | 2.56 | +0.34 |
| Martin ratioReturn relative to average drawdown | 11.24 | 10.66 | +0.58 |
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
| SSGVX | SSHQX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.40 | 2.09 | +0.31 |
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 | 0.14 | -0.34 | +0.47 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.12 | -0.34 | +0.45 |
Drawdowns
SSGVX vs. SSHQX - Drawdown Comparison
The maximum SSGVX drawdown since its inception was -35.79%, smaller than the maximum SSHQX drawdown of -92.12%. Use the drawdown chart below to compare losses from any high point for SSGVX and SSHQX.
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Drawdown Indicators
| SSGVX | SSHQX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.79% | -92.12% | +56.33% |
Max Drawdown (1Y)Largest decline over 1 year | -11.22% | -9.69% | -1.53% |
Max Drawdown (3Y)Largest decline over 3 years | -13.54% | -13.99% | +0.45% |
Max Drawdown (5Y)Largest decline over 5 years | -30.03% | -14.79% | -15.24% |
Max Drawdown (10Y)Largest decline over 10 years | -35.79% | -92.12% | +56.33% |
Current DrawdownCurrent decline from peak | 0.00% | -78.98% | +78.98% |
Average DrawdownAverage peak-to-trough decline | -7.75% | -52.29% | +44.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.88% | 2.32% | +0.56% |
Volatility
SSGVX vs. SSHQX - Volatility Comparison
State Street Global All Cap Equity ex-U.S.Index Portfolio (SSGVX) has a higher volatility of 4.55% compared to State Street Hedged International Developed Equity Index Fund (SSHQX) at 3.49%. This indicates that SSGVX'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
| SSGVX | 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 | 13.55% | 11.84% | +1.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.80% | 13.42% | +1.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 282.29% | 32.24% | +250.05% |
SSGVX vs. SSHQX - Expense Ratio Comparison
SSGVX has a 0.05% 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
SSGVX vs. SSHQX - Dividend Comparison
SSGVX's dividend yield for the trailing twelve months is around 2.89%, less than SSHQX's 3.27% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SSGVX State Street Global All Cap Equity ex-U.S.Index Portfolio | 2.89% | 3.33% | 3.09% | 2.96% | 2.35% | 2.58% | 1.66% | 2.96% | 3.02% | 2.77% | 1.56% | 2.16% |
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
SSGVX 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.
SSGVX has higher volatility (4.55%) compared to SSHQX (3.49%). In terms of maximum drawdown, SSGVX dropped -35.79% vs SSHQX's -92.12%.
SSGVX 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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