SVSPX vs. VIIIX
SVSPX (State Street S&P 500 Index Fund Class N) and VIIIX (Vanguard Institutional Index Fund Institutional Plus Shares) are both mutual funds - SVSPX is a Large Cap Blend Equities fund tracking the S&P 500 Index, while VIIIX is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, SVSPX returned 14.85%/yr vs 15.07%/yr for VIIIX. Their 0.99 correlation means they have historically moved very closely together. SVSPX charges 0.16%/yr vs 0.02%/yr for VIIIX.
Performance
SVSPX vs. VIIIX - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with SVSPX having a 9.27% return and VIIIX slightly higher at 9.35%. Both investments have delivered pretty close results over the past 10 years, with SVSPX having a 14.85% annualized return and VIIIX not far ahead at 15.07%.
SVSPX
- 1D
- 1.66%
- 1M
- -0.57%
- 6M
- 7.27%
- YTD
- 9.27%
- 1Y
- 18.70%
- 3Y*
- 19.00%
- 5Y*
- 12.57%
- 10Y*
- 14.85%
- ALL TIME*
- 10.56%
VIIIX
- 1D
- 1.66%
- 1M
- -0.56%
- 6M
- 7.79%
- YTD
- 9.35%
- 1Y
- 20.63%
- 3Y*
- 19.44%
- 5Y*
- 12.83%
- 10Y*
- 15.07%
- ALL TIME*
- 9.41%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
SVSPX vs. VIIIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SVSPX State Street S&P 500 Index Fund Class N | 9.27% | 17.83% | 25.07% | 26.21% | -18.31% | 28.38% | 18.48% | 31.27% | -4.87% | 21.71% |
VIIIX Vanguard Institutional Index Fund Institutional Plus Shares | 9.35% | 17.87% | 26.29% | 25.79% | -18.14% | 28.69% | 18.41% | 31.48% | -4.41% | 21.82% |
Correlation
The correlation between SVSPX and VIIIX is 0.80, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.80 |
Correlation (3Y) Balances recent behavior with more history. | 0.84 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.92 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.96 |
Correlation (All Time) Calculated using the full available price history since Jul 7, 1997 | 0.99 |
The correlation between SVSPX and VIIIX shifts across timeframes, from 0.80 (1 year) to 0.99 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SVSPX vs. VIIIX — Risk / Return Rank
SVSPX
VIIIX
SVSPX vs. VIIIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for State Street S&P 500 Index Fund Class N (SVSPX) and Vanguard Institutional Index Fund Institutional Plus Shares (VIIIX). 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.
| SVSPX | VIIIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.19 | ||
| Sortino ratioReturn per unit of downside risk | +0.35 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.26 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.48 | 2.06 | +0.42 |
| Martin ratioReturn relative to average drawdown | 10.71 | 8.86 | +1.85 |
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Drawdowns
SVSPX vs. VIIIX - Drawdown Comparison
The maximum SVSPX drawdown since its inception was -55.76%, roughly equal to the maximum VIIIX drawdown of -55.18%. Use the drawdown chart below to compare losses from any high point for SVSPX and VIIIX.
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Drawdown Indicators
| SVSPX | VIIIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.76% | -55.18% | -0.58% |
Max Drawdown (1Y)Largest decline over 1 year | -8.93% | -8.90% | -0.03% |
Max Drawdown (3Y)Largest decline over 3 years | -19.09% | -18.75% | -0.34% |
Max Drawdown (5Y)Largest decline over 5 years | -24.59% | -24.50% | -0.09% |
Max Drawdown (10Y)Largest decline over 10 years | -33.69% | -33.79% | +0.10% |
Current DrawdownCurrent decline from peak | -2.11% | -2.11% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -9.20% | -9.97% | +0.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.92% | 2.07% | -0.15% |
Volatility
SVSPX vs. VIIIX - Volatility Comparison
State Street S&P 500 Index Fund Class N (SVSPX) and Vanguard Institutional Index Fund Institutional Plus Shares (VIIIX) have volatilities of 3.33% and 3.44%, 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
| SVSPX | VIIIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.33% | 3.44% | -0.11% |
Volatility (6M)Calculated over the trailing 6-month period | 10.43% | 10.09% | +0.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.75% | 12.86% | +0.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.58% | 17.01% | +0.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.35% | 18.07% | +0.28% |
SVSPX vs. VIIIX - Expense Ratio Comparison
SVSPX has a 0.16% expense ratio, which is higher than VIIIX'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
SVSPX vs. VIIIX - Dividend Comparison
SVSPX's dividend yield for the trailing twelve months is around 7.60%, more than VIIIX's 2.51% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SVSPX State Street S&P 500 Index Fund Class N | 7.60% | 8.28% | 9.39% | 12.38% | 10.53% | 11.65% | 15.98% | 6.40% | 13.29% | 4.94% | 8.63% | 4.05% |
VIIIX Vanguard Institutional Index Fund Institutional Plus Shares | 2.51% | 2.11% | 3.66% | 2.66% | 3.39% | 4.79% | 3.07% | 2.86% | 2.45% | 1.84% | 2.38% | 2.47% |
Frequently Asked Questions
SVSPX and VIIIX have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VIIIX has higher volatility (3.44%) compared to SVSPX (3.33%). In terms of maximum drawdown, SVSPX dropped -55.76% vs VIIIX's -55.18%.
SVSPX currently has the higher Sharpe Ratio (1.61 vs 1.43), 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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