SSMKX vs. SPSM
Compare and contrast key facts about State Street Small/Mid Cap Equity Index Fund (SSMKX) and SPDR Portfolio S&P 600 Small Cap ETF (SPSM).
SSMKX is managed by State Street. It was launched on Aug 12, 2015. SPSM is a passively managed fund by State Street that tracks the performance of the S&P SmallCap 600 Index. It was launched on Jul 8, 2013.
Performance
SSMKX vs. SPSM - Performance Comparison
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SSMKX vs. SPSM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SSMKX State Street Small/Mid Cap Equity Index Fund | -1.19% | 12.77% | 17.20% | 25.20% | -25.49% | 12.38% | 32.41% | 27.82% | -9.02% | 18.16% |
SPSM SPDR Portfolio S&P 600 Small Cap ETF | 4.17% | 6.11% | 8.55% | 16.11% | -16.12% | 26.67% | 11.69% | 25.85% | -11.17% | 15.44% |
Returns By Period
In the year-to-date period, SSMKX achieves a -1.19% return, which is significantly lower than SPSM's 4.17% return. Over the past 10 years, SSMKX has outperformed SPSM with an annualized return of 11.29%, while SPSM has yielded a comparatively lower 10.12% annualized return.
SSMKX
- 1D
- 3.42%
- 1M
- -5.59%
- YTD
- -1.19%
- 6M
- -0.97%
- 1Y
- 20.97%
- 3Y*
- 15.57%
- 5Y*
- 4.63%
- 10Y*
- 11.29%
SPSM
- 1D
- 0.66%
- 1M
- -4.08%
- YTD
- 4.17%
- 6M
- 5.65%
- 1Y
- 20.97%
- 3Y*
- 10.75%
- 5Y*
- 4.29%
- 10Y*
- 10.12%
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SSMKX vs. SPSM - Expense Ratio Comparison
SSMKX has a 0.05% expense ratio, which is lower than SPSM's 0.05% 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%.
Return for Risk
SSMKX vs. SPSM — Risk / Return Rank
SSMKX
SPSM
SSMKX vs. SPSM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for State Street Small/Mid Cap Equity Index Fund (SSMKX) and SPDR Portfolio S&P 600 Small Cap ETF (SPSM). 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.
| SSMKX | SPSM | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.96 | 0.93 | +0.03 |
Sortino ratioReturn per unit of downside risk | 1.47 | 1.44 | +0.04 |
Omega ratioGain probability vs. loss probability | 1.20 | 1.19 | +0.01 |
Calmar ratioReturn relative to maximum drawdown | 1.46 | 1.44 | +0.02 |
Martin ratioReturn relative to average drawdown | 6.15 | 5.80 | +0.36 |
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
| SSMKX | SPSM | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.96 | 0.93 | +0.03 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.21 | 0.20 | +0.01 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.51 | 0.44 | +0.07 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.50 | 0.42 | +0.09 |
Correlation
The correlation between SSMKX and SPSM is 0.92, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
SSMKX vs. SPSM - Dividend Comparison
SSMKX's dividend yield for the trailing twelve months is around 5.16%, more than SPSM's 1.58% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SSMKX State Street Small/Mid Cap Equity Index Fund | 5.16% | 5.10% | 2.12% | 2.56% | 17.09% | 9.69% | 1.47% | 5.75% | 3.68% | 5.52% | 1.30% | 0.00% |
SPSM SPDR Portfolio S&P 600 Small Cap ETF | 1.58% | 1.62% | 1.85% | 1.61% | 1.38% | 1.40% | 1.34% | 1.58% | 1.82% | 1.51% | 1.49% | 2.37% |
Drawdowns
SSMKX vs. SPSM - Drawdown Comparison
The maximum SSMKX drawdown since its inception was -41.65%, roughly equal to the maximum SPSM drawdown of -42.89%. Use the drawdown chart below to compare losses from any high point for SSMKX and SPSM.
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Drawdown Indicators
| SSMKX | SPSM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.65% | -42.89% | +1.24% |
Max Drawdown (1Y)Largest decline over 1 year | -14.48% | -14.82% | +0.34% |
Max Drawdown (5Y)Largest decline over 5 years | -35.19% | -27.94% | -7.25% |
Max Drawdown (10Y)Largest decline over 10 years | -41.65% | -42.89% | +1.24% |
Current DrawdownCurrent decline from peak | -6.96% | -5.18% | -1.78% |
Average DrawdownAverage peak-to-trough decline | -8.81% | -8.02% | -0.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.44% | 3.68% | -0.24% |
Volatility
SSMKX vs. SPSM - Volatility Comparison
State Street Small/Mid Cap Equity Index Fund (SSMKX) has a higher volatility of 6.97% compared to SPDR Portfolio S&P 600 Small Cap ETF (SPSM) at 6.26%. This indicates that SSMKX's price experiences larger fluctuations and is considered to be riskier than SPSM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SSMKX | SPSM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.97% | 6.26% | +0.71% |
Volatility (6M)Calculated over the trailing 6-month period | 13.21% | 12.95% | +0.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.65% | 22.56% | +0.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.27% | 21.54% | +0.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.23% | 22.97% | -0.74% |