VMNVX vs. SSGLX

Last updated Apr 1, 2026

Compare and contrast key facts about Vanguard Global Minimum Volatility Fund Admiral Shares (VMNVX) and State Street Global All Cap Equity ex-U.S. Index Fund Class K (SSGLX).

VMNVX is managed by Vanguard. It was launched on Dec 12, 2013. SSGLX is a passively managed fund by State Street that tracks the performance of the MSCI ACWI ex USA Investable Market Index. It was launched on Sep 17, 2014.

Performance

VMNVX vs. SSGLX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Global Minimum Volatility Fund Admiral Shares (VMNVX) and State Street Global All Cap Equity ex-U.S. Index Fund Class K (SSGLX). The values are adjusted to include any dividend payments, if applicable.

VMNVX vs. SSGLX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VMNVX Vanguard Global Minimum Volatility Fund Admiral Shares	1.71%	12.83%	13.42%	7.94%	-4.46%	15.40%	-3.94%	22.66%	-1.70%	16.03%
SSGLX State Street Global All Cap Equity ex-U.S. Index Fund Class K	-0.64%	32.64%	4.98%	15.67%	-16.44%	8.36%	11.11%	21.52%	-14.05%	27.12%

Returns By Period

In the year-to-date period, VMNVX achieves a 1.71% return, which is significantly higher than SSGLX's -0.64% return. Both investments have delivered pretty close results over the past 10 years, with VMNVX having a 8.25% annualized return and SSGLX not far ahead at 8.58%.

VMNVX

• 1D: 0.22%
• 1M: -5.84%
• YTD: 1.71%
• 6M: 2.90%
• 1Y: 8.16%
• 3Y*: 11.47%
• 5Y*: 8.47%
• 10Y*: 8.25%

SSGLX

• 1D: 0.39%
• 1M: -10.87%
• YTD: -0.64%
• 6M: 4.10%
• 1Y: 24.88%
• 3Y*: 14.40%
• 5Y*: 6.92%
• 10Y*: 8.58%

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

VMNVX vs. SSGLX - Expense Ratio Comparison

VMNVX has a 0.14% expense ratio, which is higher than SSGLX's 0.07% 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%.

VMNVX

Vanguard Global Minimum Volatility Fund Admiral Shares

SSGLX

State Street Global All Cap Equity ex-U.S. Index Fund Class K

Return for Risk

VMNVX vs. SSGLX — Risk / Return Rank

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

VMNVX

VMNVX Risk / Return Rank: 47
VMNVX Sharpe Ratio Rank: 47
VMNVX Sortino Ratio Rank: 45
VMNVX Omega Ratio Rank: 48
VMNVX Calmar Ratio Rank: 43
VMNVX Martin Ratio Rank: 55

SSGLX

SSGLX Risk / Return Rank: 81
SSGLX Sharpe Ratio Rank: 82
SSGLX Sortino Ratio Rank: 82
SSGLX Omega Ratio Rank: 81
SSGLX Calmar Ratio Rank: 82
SSGLX Martin Ratio Rank: 80

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.

VMNVX vs. SSGLX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Global Minimum Volatility Fund Admiral Shares (VMNVX) and State Street Global All Cap Equity ex-U.S. Index Fund Class K (SSGLX). 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.

	VMNVX	SSGLX	Difference
Sharpe ratio Return per unit of total volatility	0.91	1.56	-0.65
Sortino ratio Return per unit of downside risk	1.30	2.12	-0.82
Omega ratio Gain probability vs. loss probability	1.20	1.32	-0.13
Calmar ratio Return relative to maximum drawdown	1.08	2.00	-0.92
Martin ratio Return relative to average drawdown	5.25	7.90	-2.64
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VMNVX vs. SSGLX - Sharpe Ratio Comparison

The current VMNVX Sharpe Ratio is 0.91, which is lower than the SSGLX Sharpe Ratio of 1.56. The chart below compares the historical Sharpe Ratios of VMNVX and SSGLX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	VMNVX	SSGLX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.91	1.56	-0.65
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.90	0.48	+0.41
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.69	0.53	+0.16
Sharpe Ratio (All Time) Calculated using the full available price history	0.76	0.37	+0.39

Correlation

The correlation between VMNVX and SSGLX is 0.68, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

VMNVX vs. SSGLX - Dividend Comparison

VMNVX's dividend yield for the trailing twelve months is around 9.90%, more than SSGLX's 4.44% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VMNVX Vanguard Global Minimum Volatility Fund Admiral Shares	9.90%	10.07%	3.84%	3.13%	5.03%	6.33%	2.15%	4.62%	7.37%	2.31%	2.82%	3.30%
SSGLX State Street Global All Cap Equity ex-U.S. Index Fund Class K	4.44%	4.41%	4.46%	2.98%	2.85%	4.20%	1.72%	4.80%	8.32%	3.98%	1.52%	2.09%

Drawdowns

VMNVX vs. SSGLX - Drawdown Comparison

The maximum VMNVX drawdown since its inception was -33.11%, smaller than the maximum SSGLX drawdown of -35.88%. Use the drawdown chart below to compare losses from any high point for VMNVX and SSGLX.

Drawdown Indicators

	VMNVX	SSGLX	Difference
Max Drawdown Largest peak-to-trough decline	-33.11%	-35.88%	+2.77%
Max Drawdown (1Y) Largest decline over 1 year	-7.93%	-11.22%	+3.29%
Max Drawdown (5Y) Largest decline over 5 years	-12.93%	-30.08%	+17.15%
Max Drawdown (10Y) Largest decline over 10 years	-33.11%	-35.88%	+2.77%
Current Drawdown Current decline from peak	-6.04%	-10.87%	+4.83%
Average Drawdown Average peak-to-trough decline	-2.82%	-8.32%	+5.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.63%	2.84%	-1.21%

Volatility

VMNVX vs. SSGLX - Volatility Comparison

The current volatility for Vanguard Global Minimum Volatility Fund Admiral Shares (VMNVX) is 2.59%, while State Street Global All Cap Equity ex-U.S. Index Fund Class K (SSGLX) has a volatility of 6.44%. This indicates that VMNVX experiences smaller price fluctuations and is considered to be less risky than SSGLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VMNVX	SSGLX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.59%	6.44%	-3.85%
Volatility (6M) Calculated over the trailing 6-month period	4.89%	10.02%	-5.13%
Volatility (1Y) Calculated over the trailing 1-year period	10.05%	15.49%	-5.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.52%	14.49%	-4.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.96%	16.15%	-4.19%