SSGVX vs. SWPPX

Last updated Jun 24, 2026

SSGVX (State Street Global All Cap Equity ex-U.S.Index Portfolio) and SWPPX (Schwab S&P 500 Index Fund) are both mutual funds - SSGVX is a Foreign Large Cap Equities fund managed by State Street, while SWPPX is a Large Cap Blend Equities fund tracking the S&P 500 Index. Over the past 10 years, SSGVX returned 39.13%/yr vs 15.77%/yr for SWPPX. A 0.70 correlation means they provide meaningful diversification when combined. SSGVX charges 0.05%/yr vs 0.02%/yr for SWPPX.

Performance

SSGVX vs. SWPPX - 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 Schwab S&P 500 Index Fund (SWPPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SSGVX achieves a 15.66% return, which is significantly higher than SWPPX's 9.75% return. Over the past 10 years, SSGVX has outperformed SWPPX with an annualized return of 39.13%, while SWPPX has yielded a comparatively lower 15.77% annualized return.

SSGVX

• 1D: 0.18%
• 1M: 3.07%
• YTD: 15.66%
• 6M: 15.95%
• 1Y: 33.56%
• 3Y*: 20.01%
• 5Y*: 9.04%
• 10Y*: 39.13%

SWPPX

• 1D: -0.36%
• 1M: 0.10%
• YTD: 9.75%
• 6M: 8.76%
• 1Y: 25.48%
• 3Y*: 21.36%
• 5Y*: 13.58%
• 10Y*: 15.77%

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

SSGVX vs. SWPPX - 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	15.66%	32.69%	5.01%	15.71%	-16.42%	8.42%	1,010.40%	21.71%	-14.01%	27.18%
SWPPX Schwab S&P 500 Index Fund	9.75%	17.87%	24.96%	26.26%	-18.14%	28.67%	18.38%	31.46%	-4.47%	21.81%

Correlation

The correlation between SSGVX and SWPPX is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.68
Correlation (3Y) Calculated over the trailing 3-year period	0.64
Correlation (5Y) Calculated over the trailing 5-year period	0.68
Correlation (10Y) Calculated over the trailing 10-year period	0.69
Correlation (All Time) Calculated using the full available price history since Sep 18, 2014	0.70

The correlation between SSGVX and SWPPX has been stable across timeframes, ranging from 0.64 to 0.70 - a consistent structural relationship.

Return for Risk

SSGVX vs. SWPPX — Risk / Return Rank

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

SSGVX

SSGVX Risk / Return Rank: 71
SSGVX Sharpe Ratio Rank: 77
SSGVX Sortino Ratio Rank: 72
SSGVX Omega Ratio Rank: 77
SSGVX Calmar Ratio Rank: 67
SSGVX Martin Ratio Rank: 62

SWPPX

SWPPX Risk / Return Rank: 65
SWPPX Sharpe Ratio Rank: 63
SWPPX Sortino Ratio Rank: 56
SWPPX Omega Ratio Rank: 59
SWPPX Calmar Ratio Rank: 68
SWPPX Martin Ratio Rank: 78

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.

SSGVX vs. SWPPX - 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 Schwab S&P 500 Index Fund (SWPPX). 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	SWPPX	Difference
Sharpe ratio: Return per unit of total volatility	2.35	2.14	+0.21
Sortino ratio: Return per unit of downside risk	3.23	2.89	+0.34
Omega ratio: Gain probability vs. loss probability	1.45	1.39	+0.07
Calmar ratio: Return relative to maximum drawdown	3.02	3.02	0.00
Martin ratio: Return relative to average drawdown	11.55	13.59	-2.03

SSGVX vs. SWPPX - Sharpe Ratio Comparison

The current SSGVX Sharpe Ratio is 2.35, which is comparable to the SWPPX Sharpe Ratio of 2.14. The chart below compares the historical Sharpe Ratios of SSGVX and SWPPX, 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. SWPPX - Drawdown Comparison

The maximum SSGVX drawdown since its inception was -35.79%, smaller than the maximum SWPPX drawdown of -55.06%. Use the drawdown chart below to compare losses from any high point for SSGVX and SWPPX.

Drawdown Indicators

	SSGVX	SWPPX	Difference
Max Drawdown Largest peak-to-trough decline	-35.79%	-55.06%	+19.27%
Max Drawdown (1Y) Largest decline over 1 year	-11.22%	-8.89%	-2.33%
Max Drawdown (3Y) Largest decline over 3 years	-13.54%	-18.74%	+5.20%
Max Drawdown (5Y) Largest decline over 5 years	-30.03%	-24.51%	-5.52%
Max Drawdown (10Y) Largest decline over 10 years	-35.79%	-33.80%	-1.99%
Current Drawdown Current decline from peak	0.00%	-1.74%	+1.74%
Average Drawdown Average peak-to-trough decline	-7.72%	-9.93%	+2.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.92%	1.97%	+0.95%

Volatility

SSGVX vs. SWPPX - Volatility Comparison

State Street Global All Cap Equity ex-U.S.Index Portfolio (SSGVX) has a higher volatility of 5.69% compared to Schwab S&P 500 Index Fund (SWPPX) at 4.73%. This indicates that SSGVX's price experiences larger fluctuations and is considered to be riskier than SWPPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SSGVX	SWPPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.69%	4.73%	+0.96%
Volatility (6M) Calculated over the trailing 6-month period	12.37%	9.87%	+2.50%
Volatility (1Y) Calculated over the trailing 1-year period	14.39%	12.53%	+1.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.96%	17.02%	-2.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	282.35%	18.27%	+264.08%

SSGVX vs. SWPPX - Expense Ratio Comparison

SSGVX has a 0.05% expense ratio, which is higher than SWPPX's 0.02% 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

SSGVX vs. SWPPX - Dividend Comparison

SSGVX's dividend yield for the trailing twelve months is around 2.88%, more than SWPPX's 1.01% 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	2.88%	3.33%	3.09%	2.96%	2.35%	2.58%	1.66%	2.96%	3.02%	2.77%	1.56%	2.16%
SWPPX Schwab S&P 500 Index Fund	1.01%	1.11%	1.23%	1.43%	1.67%	1.27%	1.81%	1.95%	2.67%	1.79%	2.55%	3.17%

Frequently Asked Questions

Can I hold both SSGVX and SWPPX in my portfolio?

SSGVX and SWPPX have a correlation of 0.68, 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 SWPPX?

SSGVX has higher volatility (5.69%) compared to SWPPX (4.73%). In terms of maximum drawdown, SSGVX dropped -35.79% vs SWPPX's -55.06%.

Which has better risk-adjusted returns?

SSGVX currently has the higher Sharpe Ratio (2.35 vs 2.14), 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.