SSHQX vs. SSCNX
SSHQX (State Street Hedged International Developed Equity Index Fund) and SSCNX (State Street Target Retirement 2040 Fund) are both mutual funds - SSHQX is a Foreign Large Cap Equities fund managed by State Street, while SSCNX is a Target Retirement Date fund managed by State Street. Over the past 10 years, SSHQX returned -10.86%/yr vs 10.26%/yr for SSCNX. Their correlation of 0.80 suggests significant overlap in exposure. Both charge a 0.20% expense ratio.
Performance
SSHQX vs. SSCNX - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with SSHQX having a 10.20% return and SSCNX slightly lower at 10.08%. Over the past 10 years, SSHQX has underperformed SSCNX with an annualized return of -10.86%, while SSCNX has yielded a comparatively higher 10.26% annualized return.
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%
SSCNX
- 1D
- 0.41%
- 1M
- 4.29%
- YTD
- 10.08%
- 6M
- 10.69%
- 1Y
- 24.06%
- 3Y*
- 16.53%
- 5Y*
- 7.69%
- 10Y*
- 10.26%
SSHQX vs. SSCNX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
SSCNX State Street Target Retirement 2040 Fund | 10.08% | 19.00% | 11.21% | 17.68% | -18.55% | 11.75% | 18.72% | 24.61% | -7.45% | 18.32% |
Correlation
The correlation between SSHQX and SSCNX is 0.78, 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 | 0.78 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.76 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.80 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.80 |
Correlation (All Time) Calculated using the full available price history since Jan 5, 2016 | 0.80 |
The correlation between SSHQX and SSCNX has been stable across timeframes, ranging from 0.76 to 0.80 - a consistent structural relationship.
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Return for Risk
SSHQX vs. SSCNX — Risk / Return Rank
SSHQX
SSCNX
SSHQX vs. SSCNX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for State Street Hedged International Developed Equity Index Fund (SSHQX) and State Street Target Retirement 2040 Fund (SSCNX). 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.
| SSHQX | SSCNX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.44 | ||
| Sortino ratioReturn per unit of downside risk | -0.66 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.49 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 2.56 | 3.07 | -0.51 |
| Martin ratioReturn relative to average drawdown | 10.66 | 13.19 | -2.53 |
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
| SSHQX | SSCNX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.09 | 2.54 | -0.44 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.00 | 0.61 | +0.39 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.34 | 0.76 | -1.10 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.34 | 0.69 | -1.03 |
Drawdowns
SSHQX vs. SSCNX - Drawdown Comparison
The maximum SSHQX drawdown since its inception was -92.12%, which is greater than SSCNX's maximum drawdown of -27.49%. Use the drawdown chart below to compare losses from any high point for SSHQX and SSCNX.
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Drawdown Indicators
| SSHQX | SSCNX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -92.12% | -27.49% | -64.63% |
Max Drawdown (1Y)Largest decline over 1 year | -9.69% | -7.96% | -1.73% |
Max Drawdown (3Y)Largest decline over 3 years | -13.99% | -12.72% | -1.27% |
Max Drawdown (5Y)Largest decline over 5 years | -14.79% | -26.14% | +11.35% |
Max Drawdown (10Y)Largest decline over 10 years | -92.12% | -27.49% | -64.63% |
Current DrawdownCurrent decline from peak | -78.98% | 0.00% | -78.98% |
Average DrawdownAverage peak-to-trough decline | -52.29% | -4.77% | -47.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.32% | 1.85% | +0.47% |
Volatility
SSHQX vs. SSCNX - Volatility Comparison
State Street Hedged International Developed Equity Index Fund (SSHQX) has a higher volatility of 3.49% compared to State Street Target Retirement 2040 Fund (SSCNX) at 3.08%. This indicates that SSHQX's price experiences larger fluctuations and is considered to be riskier than SSCNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SSHQX | SSCNX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.49% | 3.08% | +0.41% |
Volatility (6M)Calculated over the trailing 6-month period | 9.73% | 7.75% | +1.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.84% | 9.63% | +2.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.42% | 12.73% | +0.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.24% | 13.47% | +18.77% |
SSHQX vs. SSCNX - Expense Ratio Comparison
Both SSHQX and SSCNX have an expense ratio of 0.20%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
SSHQX vs. SSCNX - Dividend Comparison
SSHQX's dividend yield for the trailing twelve months is around 3.27%, less than SSCNX's 6.55% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SSCNX State Street Target Retirement 2040 Fund | 6.55% | 7.21% | 4.97% | 3.78% | 5.39% | 5.58% | 4.63% | 6.31% | 5.11% | 0.38% | 1.77% | 1.96% |
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
SSHQX and SSCNX have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SSHQX has higher volatility (3.49%) compared to SSCNX (3.08%). In terms of maximum drawdown, SSHQX dropped -92.12% vs SSCNX's -27.49%.
SSCNX currently has the higher Sharpe Ratio (2.54 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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