STFAX vs. SSCNX

Last updated Jun 23, 2026

STFAX (State Street Equity 500 Index Fund) and SSCNX (State Street Target Retirement 2040 Fund) are both mutual funds - STFAX is a Large Cap Blend Equities fund managed by State Street, while SSCNX is a Target Retirement Date fund managed by State Street. Over the past 10 years, STFAX returned 15.35%/yr vs 10.28%/yr for SSCNX. Their correlation of 0.92 suggests significant overlap in exposure. STFAX charges 0.17%/yr vs 0.20%/yr for SSCNX.

Performance

STFAX vs. SSCNX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street Equity 500 Index Fund (STFAX) and State Street Target Retirement 2040 Fund (SSCNX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with STFAX having a 10.10% return and SSCNX slightly lower at 9.83%. Over the past 10 years, STFAX has outperformed SSCNX with an annualized return of 15.35%, while SSCNX has yielded a comparatively lower 10.28% annualized return.

STFAX

• 1D: 1.08%
• 1M: 0.46%
• YTD: 10.10%
• 6M: 9.59%
• 1Y: 26.95%
• 3Y*: 20.77%
• 5Y*: 13.89%
• 10Y*: 15.35%

SSCNX

• 1D: 0.82%
• 1M: 1.71%
• YTD: 9.83%
• 6M: 9.58%
• 1Y: 23.44%
• 3Y*: 15.45%
• 5Y*: 7.74%
• 10Y*: 10.28%

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

STFAX vs. SSCNX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
STFAX State Street Equity 500 Index Fund	10.10%	17.63%	24.80%	26.09%	-18.28%	28.31%	18.14%	31.13%	-4.52%	21.43%
SSCNX State Street Target Retirement 2040 Fund	9.83%	19.00%	11.21%	17.68%	-18.55%	11.75%	18.72%	24.61%	-7.45%	18.32%

Correlation

The correlation between STFAX and SSCNX is 0.91, 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	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.90
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (10Y) Calculated over the trailing 10-year period	0.92
Correlation (All Time) Calculated using the full available price history since Oct 1, 2014	0.92

The correlation between STFAX and SSCNX has been stable across timeframes, ranging from 0.90 to 0.92 - a consistent structural relationship.

Return for Risk

STFAX vs. SSCNX — Risk / Return Rank

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

STFAX

STFAX Risk / Return Rank: 65
STFAX Sharpe Ratio Rank: 64
STFAX Sortino Ratio Rank: 57
STFAX Omega Ratio Rank: 59
STFAX Calmar Ratio Rank: 67
STFAX Martin Ratio Rank: 78

SSCNX

SSCNX Risk / Return Rank: 68
SSCNX Sharpe Ratio Rank: 71
SSCNX Sortino Ratio Rank: 69
SSCNX Omega Ratio Rank: 72
SSCNX Calmar Ratio Rank: 63
SSCNX Martin Ratio Rank: 67

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.

STFAX vs. SSCNX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street Equity 500 Index Fund (STFAX) 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.

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.

	STFAX	SSCNX	Difference
Sharpe ratio: Return per unit of total volatility	2.15	2.25	-0.10
Sortino ratio: Return per unit of downside risk	2.91	3.15	-0.24
Omega ratio: Gain probability vs. loss probability	1.39	1.43	-0.04
Calmar ratio: Return relative to maximum drawdown	3.01	2.91	+0.10
Martin ratio: Return relative to average drawdown	13.59	12.25	+1.34

STFAX vs. SSCNX - Sharpe Ratio Comparison

The current STFAX Sharpe Ratio is 2.15, which is comparable to the SSCNX Sharpe Ratio of 2.25. The chart below compares the historical Sharpe Ratios of STFAX and SSCNX, 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

STFAX vs. SSCNX - Drawdown Comparison

The maximum STFAX drawdown since its inception was -57.29%, which is greater than SSCNX's maximum drawdown of -27.49%. Use the drawdown chart below to compare losses from any high point for STFAX and SSCNX.

Drawdown Indicators

	STFAX	SSCNX	Difference
Max Drawdown Largest peak-to-trough decline	-57.29%	-27.49%	-29.80%
Max Drawdown (1Y) Largest decline over 1 year	-8.91%	-7.96%	-0.95%
Max Drawdown (3Y) Largest decline over 3 years	-18.76%	-12.72%	-6.04%
Max Drawdown (5Y) Largest decline over 5 years	-24.57%	-26.14%	+1.57%
Max Drawdown (10Y) Largest decline over 10 years	-33.76%	-27.49%	-6.27%
Current Drawdown Current decline from peak	-1.36%	-0.23%	-1.13%
Average Drawdown Average peak-to-trough decline	-10.19%	-4.75%	-5.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.97%	1.88%	+0.09%

Volatility

STFAX vs. SSCNX - Volatility Comparison

State Street Equity 500 Index Fund (STFAX) has a higher volatility of 4.76% compared to State Street Target Retirement 2040 Fund (SSCNX) at 4.26%. This indicates that STFAX'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.

Volatility by Period

	STFAX	SSCNX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.76%	4.26%	+0.50%
Volatility (6M) Calculated over the trailing 6-month period	9.90%	8.58%	+1.32%
Volatility (1Y) Calculated over the trailing 1-year period	12.46%	10.28%	+2.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.98%	12.83%	+4.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.07%	13.50%	+4.57%

STFAX vs. SSCNX - Expense Ratio Comparison

STFAX has a 0.17% expense ratio, which is lower than SSCNX'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

STFAX vs. SSCNX - Dividend Comparison

STFAX's dividend yield for the trailing twelve months is around 1.17%, less than SSCNX's 6.56% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SSCNX State Street Target Retirement 2040 Fund	6.56%	7.21%	4.97%	3.78%	5.39%	5.58%	4.63%	6.31%	5.11%	0.38%	1.77%	1.96%
STFAX State Street Equity 500 Index Fund	1.17%	1.29%	1.47%	1.63%	2.01%	2.61%	1.71%	4.28%	5.02%	5.78%	1.92%	1.69%

Frequently Asked Questions

Can I hold both STFAX and SSCNX in my portfolio?

With a correlation of 0.91, STFAX and SSCNX 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.

Which is riskier, STFAX or SSCNX?

STFAX has higher volatility (4.76%) compared to SSCNX (4.26%). In terms of maximum drawdown, STFAX dropped -57.29% vs SSCNX's -27.49%.

Which has better risk-adjusted returns?

SSCNX currently has the higher Sharpe Ratio (2.25 vs 2.15), 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.