UTBPX vs. SSASX
UTBPX (UBS Multi Income Bond Fund) and SSASX (State Street Income Fund) are both Intermediate Core-Plus Bond funds. Over the past 5 years, UTBPX returned 0.56%/yr vs -0.80%/yr for SSASX. Their correlation of 0.88 suggests significant overlap in exposure. UTBPX charges 1.72%/yr vs 0.20%/yr for SSASX.
Performance
UTBPX vs. SSASX - Performance Comparison
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Returns By Period
In the year-to-date period, UTBPX achieves a 0.93% return, which is significantly higher than SSASX's -0.21% return.
UTBPX
- 1D
- -0.37%
- 1M
- 0.67%
- YTD
- 0.93%
- 6M
- 1.01%
- 1Y
- 5.18%
- 3Y*
- 4.40%
- 5Y*
- 0.56%
- 10Y*
- 1.98%
SSASX
- 1D
- 0.10%
- 1M
- 0.77%
- YTD
- -0.21%
- 6M
- 0.02%
- 1Y
- 3.73%
- 3Y*
- 2.91%
- 5Y*
- -0.80%
- 10Y*
- —
UTBPX vs. SSASX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
UTBPX UBS Multi Income Bond Fund | 0.93% | 6.60% | 1.67% | 6.67% | -11.74% | 0.97% |
SSASX State Street Income Fund | -0.21% | 7.49% | -0.95% | 4.83% | -13.74% | 0.59% |
Correlation
The correlation between UTBPX and SSASX is 0.79, 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 | 0.79 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.87 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.88 |
Correlation (All Time) Calculated using the full available price history since May 24, 2021 | 0.88 |
The correlation between UTBPX and SSASX has been stable across timeframes, ranging from 0.79 to 0.88 - a consistent structural relationship.
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Return for Risk
UTBPX vs. SSASX — Risk / Return Rank
UTBPX
SSASX
UTBPX vs. SSASX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for UBS Multi Income Bond Fund (UTBPX) and State Street Income Fund (SSASX). 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.
| UTBPX | SSASX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.42 | ||
| Sortino ratioReturn per unit of downside risk | +0.62 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.17 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.87 | 1.19 | +0.68 |
| Martin ratioReturn relative to average drawdown | 6.93 | 3.28 | +3.65 |
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Drawdowns
UTBPX vs. SSASX - Drawdown Comparison
The maximum UTBPX drawdown since its inception was -16.84%, smaller than the maximum SSASX drawdown of -19.65%. Use the drawdown chart below to compare losses from any high point for UTBPX and SSASX.
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Drawdown Indicators
| UTBPX | SSASX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.84% | -19.65% | +2.81% |
Max Drawdown (1Y)Largest decline over 1 year | -2.98% | -3.42% | +0.44% |
Max Drawdown (3Y)Largest decline over 3 years | -5.33% | -7.97% | +2.64% |
Max Drawdown (5Y)Largest decline over 5 years | -16.84% | -19.65% | +2.81% |
Max Drawdown (10Y)Largest decline over 10 years | -16.84% | — | — |
Current DrawdownCurrent decline from peak | -0.81% | -5.45% | +4.64% |
Average DrawdownAverage peak-to-trough decline | -4.01% | -9.62% | +5.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.80% | 1.24% | -0.44% |
Volatility
UTBPX vs. SSASX - Volatility Comparison
UBS Multi Income Bond Fund (UTBPX) and State Street Income Fund (SSASX) have volatilities of 1.19% and 1.18%, 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
| UTBPX | SSASX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.19% | 1.18% | +0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 3.14% | 2.99% | +0.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.98% | 4.14% | -0.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.88% | 6.50% | -1.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.36% | 6.47% | -2.11% |
UTBPX vs. SSASX - Expense Ratio Comparison
UTBPX has a 1.72% expense ratio, which is higher than SSASX's 0.20% expense ratio.
Dividends
UTBPX vs. SSASX - Dividend Comparison
UTBPX's dividend yield for the trailing twelve months is around 4.25%, more than SSASX's 4.01% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
SSASX State Street Income Fund | 4.01% | 4.01% | 2.76% | 2.86% | 2.48% | 3.77% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
UTBPX UBS Multi Income Bond Fund | 4.25% | 4.18% | 4.53% | 3.54% | 2.84% | 1.89% | 2.11% | 2.80% | 3.05% | 2.46% | 1.68% |
Frequently Asked Questions
UTBPX and SSASX have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UTBPX has higher volatility (1.19%) compared to SSASX (1.18%). In terms of maximum drawdown, UTBPX dropped -16.84% vs SSASX's -19.65%.
UTBPX currently has the higher Sharpe Ratio (1.41 vs 0.98), 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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