VEXMX vs. SSMHX
VEXMX (Vanguard Extended Market Index Fund) and SSMHX (State Street Small/Mid Cap Equity Index Portfolio) are both Mid Cap Growth Equities funds. Over the past 10 years, VEXMX returned 11.46%/yr vs 11.42%/yr for SSMHX. Their 0.99 correlation means they have historically moved very closely together. VEXMX charges 0.19%/yr vs 0.02%/yr for SSMHX.
Performance
VEXMX vs. SSMHX - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with VEXMX having a 13.88% return and SSMHX slightly higher at 13.90%. Both investments have delivered pretty close results over the past 10 years, with VEXMX having a 11.46% annualized return and SSMHX not far behind at 11.42%.
VEXMX
- 1D
- 1.41%
- 1M
- -2.64%
- 6M
- 11.23%
- YTD
- 13.88%
- 1Y
- 23.60%
- 3Y*
- 15.61%
- 5Y*
- 5.93%
- 10Y*
- 11.46%
- ALL TIME*
- 10.81%
SSMHX
- 1D
- 1.49%
- 1M
- -2.41%
- 6M
- 11.18%
- YTD
- 13.90%
- 1Y
- 24.63%
- 3Y*
- 14.32%
- 5Y*
- 5.84%
- 10Y*
- 11.42%
- ALL TIME*
- 10.38%
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 |
VEXMX vs. SSMHX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VEXMX Vanguard Extended Market Index Fund | 13.88% | 10.93% | 15.05% | 26.79% | -26.56% | 12.31% | 32.43% | 27.87% | -9.48% | 17.94% |
SSMHX State Street Small/Mid Cap Equity Index Portfolio | 13.90% | 12.90% | 10.73% | 25.21% | -25.43% | 13.08% | 32.46% | 28.00% | -9.21% | 18.26% |
Correlation
The correlation between VEXMX and SSMHX is 1.00 - they have historically moved very closely together. At this level, their price movements offset little of one another.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 1.00 |
Correlation (3Y) Balances recent behavior with more history. | 0.99 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.99 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.99 |
Correlation (All Time) Calculated using the full available price history since Aug 17, 2015 | 0.99 |
The correlation between VEXMX and SSMHX has been stable across timeframes, ranging from 0.99 to 1.00 - a consistent structural relationship.
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Return for Risk
VEXMX vs. SSMHX — Risk / Return Rank
VEXMX
SSMHX
VEXMX vs. SSMHX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Extended Market Index Fund (VEXMX) and State Street Small/Mid Cap Equity Index Portfolio (SSMHX). 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.
| VEXMX | SSMHX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.08 | ||
| Sortino ratioReturn per unit of downside risk | -0.11 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.22 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.00 | 2.15 | -0.15 |
| Martin ratioReturn relative to average drawdown | 6.79 | 7.52 | -0.73 |
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Drawdowns
VEXMX vs. SSMHX - Drawdown Comparison
The maximum VEXMX drawdown since its inception was -58.17%, which is greater than SSMHX's maximum drawdown of -41.61%. Use the drawdown chart below to compare losses from any high point for VEXMX and SSMHX.
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Drawdown Indicators
| VEXMX | SSMHX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -58.17% | -41.61% | -16.56% |
Max Drawdown (1Y)Largest decline over 1 year | -10.27% | -10.03% | -0.24% |
Max Drawdown (3Y)Largest decline over 3 years | -27.09% | -30.38% | +3.29% |
Max Drawdown (5Y)Largest decline over 5 years | -36.38% | -34.84% | -1.54% |
Max Drawdown (10Y)Largest decline over 10 years | -41.63% | -41.61% | -0.02% |
Current DrawdownCurrent decline from peak | -3.76% | -3.40% | -0.36% |
Average DrawdownAverage peak-to-trough decline | -11.11% | -9.04% | -2.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.02% | 2.87% | +0.15% |
Volatility
VEXMX vs. SSMHX - Volatility Comparison
Vanguard Extended Market Index Fund (VEXMX) and State Street Small/Mid Cap Equity Index Portfolio (SSMHX) have volatilities of 3.90% and 3.93%, 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
| VEXMX | SSMHX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.90% | 3.93% | -0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 13.31% | 13.24% | +0.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.80% | 17.53% | +0.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.41% | 22.48% | -0.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.37% | 22.37% | 0.00% |
VEXMX vs. SSMHX - Expense Ratio Comparison
VEXMX has a 0.19% expense ratio, which is higher than SSMHX'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
VEXMX vs. SSMHX - Dividend Comparison
VEXMX's dividend yield for the trailing twelve months is around 0.90%, less than SSMHX's 6.25% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SSMHX State Street Small/Mid Cap Equity Index Portfolio | 6.25% | 7.12% | 0.00% | 1.56% | 2.31% | 16.30% | 2.91% | 3.65% | 6.43% | 4.01% | 1.71% | 0.73% |
VEXMX Vanguard Extended Market Index Fund | 0.90% | 0.74% | 0.74% | 1.14% | 1.00% | 0.99% | 1.19% | 1.18% | 1.52% | 1.12% | 1.31% | 1.20% |
Frequently Asked Questions
With a correlation of 1.00, VEXMX and SSMHX 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.
SSMHX has higher volatility (3.93%) compared to VEXMX (3.90%). In terms of maximum drawdown, VEXMX dropped -58.17% vs SSMHX's -41.61%.
SSMHX currently has the higher Sharpe Ratio (1.23 vs 1.15), 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.
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