- ISIN
- US9032871009
- CUSIP
- 903287100
- Issuer
- Victory
- Inception Date
- Aug 14, 1984
- Category
- Precious Metals
- Min. Investment
- $2,500
- Distribution Policy
- Distributing
- Asset Class
- Commodity
- Asset Class Size
- Mid-Cap
- Asset Class Style
- Blend
Share Price Chart
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Performance
USAGX Performance Chart
USAA Precious Metals and Minerals Fund (USAGX) is down 10.4% since the beginning of the year. USAGX is currently trading at $43 per share. Investors who bought $1,000 worth of USAGX shares 5 years ago would now be looking at an investment worth $2,244.
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Returns By Period
USAA Precious Metals and Minerals Fund (USAGX) has returned -10.35% so far this year and 47.47% over the past 12 months. Over the last ten years, USAGX has returned 9.82% per year, falling short of the S&P 500 Index benchmark, which averaged 13.26% annually.
USAA Precious Metals and Minerals Fund
- 1D
- 3.50%
- 1M
- -1.33%
- 6M
- -17.87%
- YTD
- -10.35%
- 1Y
- 47.47%
- 3Y*
- 36.25%
- 5Y*
- 17.54%
- 10Y*
- 9.82%
- ALL TIME*
- 5.65%
Benchmark (S&P 500 Index)
- 1D
- 0.70%
- 1M
- 0.09%
- 6M
- 7.94%
- YTD
- 9.41%
- 1Y
- 20.07%
- 3Y*
- 17.84%
- 5Y*
- 11.25%
- 10Y*
- 13.26%
- ALL TIME*
- 8.09%
USAGX Monthly Returns History
Based on dividend-adjusted daily data since Aug 15, 1984, USAGX's average daily return is +0.04%, while the average monthly return is +0.94%. At this rate, an investment would double in approximately 6.2 years.
Historically, 55% of months were positive and 45% were negative. The best month was Sep 1998 with a return of +52.0%, while the worst month was Oct 1987 at -41.0%. The longest winning streak lasted 11 consecutive months, and the longest losing streak was 9 months.
On a daily basis, USAGX closed higher 48% of trading days. The best single day was Nov 21, 2008 with a return of +22.7%, while the worst single day was Oct 19, 1987 at -24.0%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 9.15% | 22.42% | -20.48% | -3.83% | 0.59% | -14.66% | 2.20% | -10.35% | |||||
| 2025 | 14.92% | 2.77% | 16.77% | 7.66% | 2.93% | 2.54% | -2.81% | 22.07% | 20.54% | -4.74% | 15.20% | 4.12% | 156.06% |
| 2024 | -9.00% | -6.27% | 19.38% | 3.99% | 5.11% | -2.70% | 10.37% | 3.94% | 2.51% | 1.99% | -6.52% | -8.77% | 10.76% |
| 2023 | 11.52% | -14.07% | 16.62% | 3.78% | -7.92% | -2.98% | 3.55% | -6.34% | -7.99% | 4.44% | 10.15% | 0.34% | 6.73% |
| 2022 | -6.21% | 11.70% | 10.02% | -7.48% | -8.94% | -14.11% | -5.39% | -8.75% | 0.52% | 0.15% | 19.42% | 1.89% | -11.80% |
| 2021 | -5.20% | -9.10% | 3.71% | 6.14% | 13.47% | -13.60% | 3.08% | -6.52% | -9.42% | 8.28% | 0.49% | 1.74% | -10.14% |
Benchmark Metrics
USAA Precious Metals and Minerals Fund has an annualized alpha of 6.60%, beta of 0.40, and R2 of 0.05 versus S&P 500 Index. Calculated based on daily prices since August 15, 1984.
- This fund participated in 55.80% of S&P 500 Index downside but only 49.16% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.40 may look defensive, but with R2 of 0.05 this fund is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this fund's risk.
- R2 of 0.05 means this fund moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 6.60%
- Beta
- 0.40
- R²
- 0.05
- Upside Capture
- 49.16%
- Downside Capture
- 55.80%
Expense Ratio
USAGX has a high expense ratio of 1.12%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
USAGX ranks 28 for risk / return — above 28% of mutual funds peers on PortfoliosLab. Its historical combined result is below the peer median.
Risk / Return Metrics
The table below present risk-adjusted performance metrics for USAA Precious Metals and Minerals Fund (USAGX) and compare them to S&P 500 Index.
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.
| USAGX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.32 | ||
| Sortino ratioReturn per unit of downside risk | -0.44 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.25 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.30 | 2.00 | -0.70 |
| Martin ratioReturn relative to average drawdown | 2.85 | 8.49 | -5.64 |
Dividends
Dividend History
USAA Precious Metals and Minerals Fund provided a 0.27% dividend yield over the last twelve months, with an annual payout of $0.12 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.12 | $0.12 | $0.00 | $0.42 | $0.15 | $0.16 | $0.01 | $0.00 | $0.00 | $0.00 | $0.51 |
Dividend yield | 0.27% | 0.24% | 0.00% | 2.45% | 0.95% | 0.84% | 0.04% | 0.00% | 0.00% | 0.00% | 4.20% |
Monthly Dividends
The table displays the monthly dividend distributions for USAA Precious Metals and Minerals Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.12 | $0.12 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.42 | $0.42 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.15 | $0.15 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.16 | $0.16 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the USAA Precious Metals and Minerals Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the USAA Precious Metals and Minerals Fund was 80.89%, occurring on Jan 19, 2016. Recovery took 2422 trading sessions.
The current USAA Precious Metals and Minerals Fund drawdown is 32.91%.
Drawdown | Fall | Recovery | Underwater | Related event |
|---|---|---|---|---|
-80.89%Jan 2016 | 4y 4mo | 9y 7mo | 14ySep 2011 - Sep 2025 | — |
-77.67%Aug 1998 | 10y 11mo | 5y 1mo | 16y 27dSep 1987 - Oct 2003 | — |
-70.90%Oct 2008 | 7mo 14d | 1y 20d | 1y 8moMar 2008 - Nov 2009 | Financial crisis2007–2009 |
-41.50%Nov 1985 | 1y 1mo | 1y 2mo | 2y 3moSep 1984 - Jan 1987 | — |
-38.32%Jul 2026 | 4mo 20d | — | 5mo 4dMar 2026 - now | — |
Drawdown Indicators
| USAGX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -80.89% | -56.78% | -24.11% |
Max Drawdown (1Y)Largest decline over 1 year | -38.32% | -9.10% | -29.22% |
Max Drawdown (3Y)Largest decline over 3 years | -38.32% | -18.90% | -19.42% |
Max Drawdown (5Y)Largest decline over 5 years | -45.72% | -25.43% | -20.29% |
Max Drawdown (10Y)Largest decline over 10 years | -51.03% | -33.92% | -17.11% |
Current DrawdownCurrent decline from peak | -32.91% | -1.58% | -31.33% |
Average DrawdownAverage peak-to-trough decline | -43.03% | -10.70% | -32.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 17.44% | 2.14% | +15.30% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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