SSMKX vs. VEMPX
SSMKX (State Street Small/Mid Cap Equity Index Fund) and VEMPX (Vanguard Extended Market Index Fund Institutional Plus Shares) are both Mid Cap Blend Equities funds. Over the past 10 years, SSMKX returned 12.48%/yr vs 12.21%/yr for VEMPX. With a 1.00 correlation, they move nearly in lockstep. SSMKX charges 0.04%/yr vs 0.04%/yr for VEMPX.
Performance
SSMKX vs. VEMPX - Performance Comparison
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Returns By Period
In the year-to-date period, SSMKX achieves a 14.17% return, which is significantly lower than VEMPX's 14.93% return. Both investments have delivered pretty close results over the past 10 years, with SSMKX having a 12.48% annualized return and VEMPX not far behind at 12.21%.
SSMKX
- 1D
- 1.00%
- 1M
- 5.71%
- YTD
- 14.17%
- 6M
- 13.00%
- 1Y
- 29.82%
- 3Y*
- 20.36%
- 5Y*
- 7.43%
- 10Y*
- 12.48%
VEMPX
- 1D
- 1.07%
- 1M
- 5.80%
- YTD
- 14.93%
- 6M
- 13.66%
- 1Y
- 30.15%
- 3Y*
- 20.16%
- 5Y*
- 6.93%
- 10Y*
- 12.21%
SSMKX vs. VEMPX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SSMKX State Street Small/Mid Cap Equity Index Fund | 14.17% | 12.77% | 17.20% | 25.20% | -25.49% | 12.38% | 32.41% | 27.82% | -9.02% | 18.16% |
VEMPX Vanguard Extended Market Index Fund Institutional Plus Shares | 14.93% | 11.43% | 15.50% | 26.98% | -26.45% | 12.48% | 32.24% | 28.06% | -9.35% | 18.13% |
Correlation
The correlation between SSMKX and VEMPX is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 1.00 |
Correlation (3Y) Calculated over the trailing 3-year period | 1.00 |
Correlation (5Y) Calculated over the trailing 5-year period | 1.00 |
Correlation (10Y) Calculated over the trailing 10-year period | 1.00 |
Correlation (All Time) Calculated using the full available price history since Jan 5, 2016 | 1.00 |
The correlation between SSMKX and VEMPX has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.
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Return for Risk
SSMKX vs. VEMPX — Risk / Return Rank
SSMKX
VEMPX
SSMKX vs. VEMPX - 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 Vanguard Extended Market Index Fund Institutional Plus Shares (VEMPX). 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 | VEMPX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.01 | ||
| Sortino ratioReturn per unit of downside risk | +0.03 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.32 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 3.16 | 3.13 | +0.03 |
| Martin ratioReturn relative to average drawdown | 11.48 | 11.09 | +0.40 |
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 | VEMPX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.88 | 1.87 | +0.01 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.34 | 0.31 | +0.02 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.56 | 0.55 | +0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.57 | 0.55 | +0.02 |
Drawdowns
SSMKX vs. VEMPX - Drawdown Comparison
The maximum SSMKX drawdown since its inception was -41.65%, roughly equal to the maximum VEMPX drawdown of -41.62%. Use the drawdown chart below to compare losses from any high point for SSMKX and VEMPX.
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Drawdown Indicators
| SSMKX | VEMPX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.65% | -41.62% | -0.03% |
Max Drawdown (1Y)Largest decline over 1 year | -10.03% | -10.25% | +0.22% |
Max Drawdown (3Y)Largest decline over 3 years | -26.31% | -26.83% | +0.52% |
Max Drawdown (5Y)Largest decline over 5 years | -35.19% | -36.32% | +1.13% |
Max Drawdown (10Y)Largest decline over 10 years | -41.65% | -41.62% | -0.03% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -8.70% | -7.97% | -0.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.76% | 2.89% | -0.13% |
Volatility
SSMKX vs. VEMPX - Volatility Comparison
State Street Small/Mid Cap Equity Index Fund (SSMKX) and Vanguard Extended Market Index Fund Institutional Plus Shares (VEMPX) have volatilities of 4.70% and 4.69%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SSMKX | VEMPX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.70% | 4.69% | +0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 12.35% | 12.46% | -0.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.90% | 17.17% | -0.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.25% | 22.34% | -0.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.26% | 22.36% | -0.10% |
SSMKX vs. VEMPX - Expense Ratio Comparison
SSMKX has a 0.05% expense ratio, which is higher than VEMPX's 0.04% 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
SSMKX vs. VEMPX - Dividend Comparison
SSMKX's dividend yield for the trailing twelve months is around 4.47%, more than VEMPX's 1.02% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SSMKX State Street Small/Mid Cap Equity Index Fund | 4.47% | 5.10% | 2.12% | 2.56% | 17.09% | 9.69% | 1.47% | 5.75% | 3.68% | 5.52% | 1.30% | 0.00% |
VEMPX Vanguard Extended Market Index Fund Institutional Plus Shares | 1.02% | 1.15% | 1.11% | 1.27% | 1.17% | 1.15% | 1.09% | 1.32% | 1.68% | 1.27% | 1.46% | 1.39% |
Frequently Asked Questions
With a correlation of 1.00, SSMKX and VEMPX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
SSMKX has higher volatility (4.70%) compared to VEMPX (4.69%). In terms of maximum drawdown, SSMKX dropped -41.65% vs VEMPX's -41.62%.
SSMKX currently has the higher Sharpe Ratio (1.88 vs 1.87), 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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