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Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in USAA Emerging Markets Fund, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
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Returns By Period
USAA Emerging Markets Fund (USEMX) has returned 1.63% so far this year and 33.80% over the past 12 months. Over the last ten years, USEMX has returned 8.17% per year, falling short of the S&P 500 Index benchmark, which averaged 12.16% annually.
USAA Emerging Markets Fund
- 1D
- -1.12%
- 1M
- -12.06%
- YTD
- 1.63%
- 6M
- 8.41%
- 1Y
- 33.80%
- 3Y*
- 16.78%
- 5Y*
- 5.06%
- 10Y*
- 8.17%
Benchmark (S&P 500 Index)
- 1D
- 2.91%
- 1M
- -5.09%
- YTD
- -4.63%
- 6M
- -2.39%
- 1Y
- 16.33%
- 3Y*
- 16.69%
- 5Y*
- 10.18%
- 10Y*
- 12.16%
Monthly Returns
Based on dividend-adjusted daily data since Nov 7, 1994, USEMX's average daily return is +0.03%, while the average monthly return is +0.61%. At this rate, your investment would double in approximately 9.5 years.
Historically, 56% of months were positive and 44% were negative. The best month was May 2009 with a return of +18.1%, while the worst month was Aug 1998 at -32.2%. The longest winning streak lasted 12 consecutive months, and the longest losing streak was 6 months.
On a daily basis, USEMX closed higher 52% of trading days. The best single day was Oct 13, 2008 with a return of +13.9%, while the worst single day was Oct 15, 2008 at -11.7%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 9.49% | 5.55% | -12.06% | 1.63% | |||||||||
| 2025 | 2.39% | 0.00% | 1.26% | 0.53% | 5.16% | 7.17% | 0.51% | 2.23% | 6.02% | 5.13% | -1.11% | 2.61% | 36.50% |
| 2024 | -2.69% | 5.00% | 2.73% | -0.43% | 1.55% | 3.39% | -1.02% | 0.56% | 3.62% | -4.21% | -2.57% | -0.47% | 5.13% |
| 2023 | 9.47% | -5.96% | 3.25% | -0.71% | -0.60% | 5.45% | 5.33% | -5.16% | -2.14% | -4.17% | 8.08% | 3.62% | 16.07% |
| 2022 | 0.23% | -4.02% | -1.84% | -5.95% | 1.99% | -9.50% | 0.39% | -0.83% | -10.54% | -0.68% | 13.68% | -3.23% | -20.24% |
| 2021 | 2.44% | 2.52% | -0.76% | 2.13% | 2.25% | 0.53% | -5.48% | 1.12% | -4.63% | 0.94% | -5.25% | 3.57% | -1.22% |
Benchmark Metrics
USAA Emerging Markets Fund has an annualized alpha of -0.56%, beta of 0.74, and R² of 0.50 versus S&P 500 Index. Calculated based on daily prices since November 08, 1994.
- This fund participated in 111.40% of S&P 500 Index downside but only 95.73% of its upside — more exposed to losses than it benefited from rallies.
- Alpha
- -0.56%
- Beta
- 0.74
- R²
- 0.50
- Upside Capture
- 95.73%
- Downside Capture
- 111.40%
Expense Ratio
USEMX has a high expense ratio of 1.47%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
USEMX ranks 88 for risk / return — in the top 88% of mutual funds on our site. This means strong returns relative to risk — exactly what professional investors look for. Well-suited for investors who want to maximize return per unit of risk.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for USAA Emerging Markets Fund (USEMX) and compare them to a chosen benchmark (S&P 500 Index).
| USEMX | Benchmark | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.84 | 0.90 | +0.94 |
Sortino ratioReturn per unit of downside risk | 2.39 | 1.39 | +1.00 |
Omega ratioGain probability vs. loss probability | 1.36 | 1.21 | +0.15 |
Calmar ratioReturn relative to maximum drawdown | 2.38 | 1.40 | +0.98 |
Martin ratioReturn relative to average drawdown | 9.64 | 6.61 | +3.03 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Explore USEMX risk-adjusted metrics in detail
Dive deeper into individual metrics with historical trends, benchmark comparisons, and performance across different time periods.
Dividends
Dividend History
USAA Emerging Markets Fund provided a 8.59% dividend yield over the last twelve months, with an annual payout of $2.20 per share. The fund has been increasing its distributions for 4 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $2.20 | $2.20 | $0.64 | $0.36 | $0.30 | $0.15 | $0.23 | $0.06 | $0.20 | $0.07 | $0.14 | $0.11 |
Dividend yield | 8.59% | 8.73% | 3.20% | 1.83% | 1.73% | 0.70% | 1.04% | 0.32% | 1.29% | 0.33% | 0.91% | 0.82% |
Monthly Dividends
The table displays the monthly dividend distributions for USAA Emerging Markets 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 | |||||||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $2.20 | $2.20 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.64 | $0.64 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.36 | $0.36 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.30 | $0.30 |
| 2021 | $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 |
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 Emerging Markets 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 Emerging Markets Fund was 64.84%, occurring on Nov 20, 2008. Recovery took 2307 trading sessions.
The current USAA Emerging Markets Fund drawdown is 12.93%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -64.84% | Nov 1, 2007 | 267 | Nov 20, 2008 | 2307 | Jan 23, 2018 | 2574 |
| -55.54% | Aug 8, 1997 | 276 | Sep 11, 1998 | 1563 | Nov 30, 2004 | 1839 |
| -40.29% | Jan 29, 2018 | 541 | Mar 23, 2020 | 172 | Nov 24, 2020 | 713 |
| -36.28% | Feb 17, 2021 | 426 | Oct 24, 2022 | 669 | Jun 26, 2025 | 1095 |
| -22.6% | May 9, 2006 | 25 | Jun 13, 2006 | 119 | Nov 30, 2006 | 144 |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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