- ISIN
- US9032888508
- CUSIP
- 903288850
- Issuer
- Victory
- Inception Date
- Aug 2, 1999
- Category
- Small Cap Blend Equities
- Min. Investment
- $3,000
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Small-Cap
- Asset Class Style
- Blend
Share Price Chart
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Performance
USCAX Performance Chart
USAA Small Cap Stock Fund (USCAX) is up 21.6% since the beginning of the year. USCAX is currently trading at $16 per share. Investors who bought $1,000 worth of USCAX shares 5 years ago would now be looking at an investment worth $1,346.
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Returns By Period
USAA Small Cap Stock Fund (USCAX) has returned 21.56% so far this year and 40.77% over the past 12 months. Over the last ten years, USCAX has returned 10.75% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.
USAA Small Cap Stock Fund
- 1D
- 1.55%
- 1M
- 6.03%
- YTD
- 21.56%
- 6M
- 18.74%
- 1Y
- 40.77%
- 3Y*
- 14.99%
- 5Y*
- 6.12%
- 10Y*
- 10.75%
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
USCAX Monthly Returns History
Based on dividend-adjusted daily data since Jul 30, 1999, USCAX's average daily return is +0.04%, while the average monthly return is +0.84%. At this rate, an investment would double in approximately 6.9 years.
Historically, 61% of months were positive and 39% were negative. The best month was Feb 2000 with a return of +23.7%, while the worst month was Mar 2020 at -23.0%. The longest winning streak lasted 7 consecutive months, and the longest losing streak was 5 months.
On a daily basis, USCAX closed higher 52% of trading days. The best single day was Dec 16, 2021 with a return of +44.0%, while the worst single day was Dec 17, 2021 at -32.0%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 4.09% | 2.07% | -4.97% | 11.34% | 3.97% | 4.01% | 21.56% | ||||||
| 2025 | 2.65% | -5.67% | -6.41% | -3.01% | 5.59% | 4.81% | 1.94% | 6.79% | 0.64% | -0.43% | 2.35% | 0.48% | 9.15% |
| 2024 | -3.39% | 5.23% | 3.49% | -7.24% | 4.02% | -1.56% | 9.21% | -1.04% | 0.14% | -3.00% | 9.92% | -8.65% | 5.34% |
| 2023 | 10.34% | -1.20% | -4.78% | -1.45% | -1.38% | 8.23% | 5.18% | -4.08% | -5.45% | -6.87% | 8.93% | 11.07% | 17.35% |
| 2022 | -9.21% | 1.47% | 0.29% | -9.82% | 0.08% | -8.56% | 10.50% | -2.69% | -9.52% | 10.88% | 3.65% | -6.16% | -19.99% |
| 2021 | 3.91% | 8.67% | 0.91% | 3.10% | -0.74% | 1.16% | -2.25% | 2.45% | -2.89% | 4.92% | -4.96% | 2.36% | 17.08% |
Benchmark Metrics
USAA Small Cap Stock Fund has an annualized alpha of 2.72%, beta of 1.03, and R2 of 0.61 versus S&P 500 Index. Calculated based on daily prices since July 30, 1999.
- This fund captured 114.43% of S&P 500 Index gains and 105.37% of its losses - amplifying both gains and losses, but participating more in upside than downside.
- This fund generated an annualized alpha of 2.72% versus S&P 500 Index - delivering returns beyond what market exposure alone would predict.
- With beta of 1.03 and R2 of 0.61, this fund moves broadly in line with S&P 500 Index - much of its variation is explained by market exposure rather than independent behavior.
- Alpha
- 2.72%
- Beta
- 1.03
- R²
- 0.61
- Upside Capture
- 114.43%
- Downside Capture
- 105.37%
Expense Ratio
USCAX has a high expense ratio of 1.10%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
USCAX ranks 75 for risk / return — better than 75% of mutual funds on our site. You're getting solid returns for the risk taken. A good sign, especially for investors who want growth without excessive volatility.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for USAA Small Cap Stock Fund (USCAX) 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.
| USCAX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.23 | ||
| Sortino ratioReturn per unit of downside risk | +0.43 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.37 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 4.47 | 2.78 | +1.69 |
| Martin ratioReturn relative to average drawdown | 15.23 | 12.44 | +2.79 |
Dividends
Dividend History
USAA Small Cap Stock Fund provided a 6.19% dividend yield over the last twelve months, with an annual payout of $1.01 per share. The fund has been increasing its distributions for 2 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $1.01 | $1.01 | $0.79 | $0.02 | $0.70 | $6.47 | $1.57 | $1.63 | $1.95 | $1.94 | $0.22 | $1.39 |
Dividend yield | 6.19% | 7.53% | 6.00% | 0.18% | 6.19% | 43.14% | 8.50% | 9.92% | 13.94% | 11.05% | 1.24% | 9.23% |
Monthly Dividends
The table displays the monthly dividend distributions for USAA Small Cap Stock 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 | ||||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.01 | $1.01 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.79 | $0.79 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.02 | $0.02 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.70 | $0.70 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $6.47 | $6.47 |
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 Small Cap Stock 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 Small Cap Stock Fund was 60.17%, occurring on Mar 9, 2009. Recovery took 540 trading sessions.
The current USAA Small Cap Stock Fund drawdown is 7.13%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Financial crisis2007–2009 | -60.17%Mar 2009 | 1y 7mo | 2y 1mo | 3y 9moJul 2007 - Apr 2011 |
Dot-com crash2000–2002 | -51.89%Oct 2002 | 2y 7mo | 3y 3mo | 5y 10moMar 2000 - Jan 2006 |
Bear market2022 | -47.97%Sep 2022 | 9mo 13d | — | 4y 6moDec 2021 - now |
COVID crash2020 | -42.42%Mar 2020 | 2mo 1d | 7mo 26d | 9mo 27dJan 2020 - Nov 2020 |
2011 bear market2011 | -27.73%Oct 2011 | 2mo 27d | 11mo 16d | 1y 2moJul 2011 - Sep 2012 |
Drawdown Indicators
| USCAX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.17% | -56.78% | -3.39% |
Max Drawdown (1Y)Largest decline over 1 year | -9.11% | -9.10% | -0.01% |
Max Drawdown (3Y)Largest decline over 3 years | -28.89% | -18.90% | -9.99% |
Max Drawdown (5Y)Largest decline over 5 years | -47.97% | -25.43% | -22.54% |
Max Drawdown (10Y)Largest decline over 10 years | -47.97% | -33.92% | -14.05% |
Current DrawdownCurrent decline from peak | -7.13% | -1.80% | -5.33% |
Average DrawdownAverage peak-to-trough decline | -18.71% | -10.71% | -8.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.67% | 2.03% | +0.64% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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