- ISIN
- US9032878038
- CUSIP
- 903287803
- Issuer
- Victory
- Inception Date
- Nov 6, 1994
- Category
- Emerging Markets Diversified
- Min. Investment
- $3,000
- Distribution Policy
- Distributing
- Asset Class
- Multi-Asset
- Asset Class Size
- Large-Cap
- Asset Class Style
- Blend
Share Price Chart
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Performance
USEMX Performance Chart
USAA Emerging Markets Fund (USEMX) is up 35.0% since the beginning of the year. USEMX is currently trading at $34 per share. Investors who bought $1,000 worth of USEMX shares 5 years ago would now be looking at an investment worth $1,653.
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Returns By Period
USAA Emerging Markets Fund (USEMX) has returned 34.95% so far this year and 62.82% over the past 12 months. Over the last ten years, USEMX has returned 11.07% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.
USAA Emerging Markets Fund
- 1D
- 3.13%
- 1M
- 7.06%
- YTD
- 34.95%
- 6M
- 37.74%
- 1Y
- 62.82%
- 3Y*
- 25.68%
- 5Y*
- 10.57%
- 10Y*
- 11.07%
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%
USEMX Monthly Returns History
Based on dividend-adjusted daily data since Nov 7, 1994, USEMX's average daily return is +0.03%, while the average monthly return is +0.69%. At this rate, an investment would double in approximately 8.4 years.
Historically, 57% of months were positive and 43% 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% | -9.73% | 15.34% | 8.91% | 2.97% | 34.95% | ||||||
| 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 -0.07%, beta of 0.74, and R2 of 0.50 versus S&P 500 Index. Calculated based on daily prices since November 07, 1994.
- This fund participated in 110.97% of S&P 500 Index downside but only 96.98% of its upside - more exposed to losses than it benefited from rallies.
- Alpha
- -0.07%
- Beta
- 0.74
- R²
- 0.50
- Upside Capture
- 96.98%
- Downside Capture
- 110.97%
Expense Ratio
USEMX has a high expense ratio of 1.47%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
USEMX ranks 90 for risk / return — in the top 90% 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 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.
| USEMX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.99 | ||
| Sortino ratioReturn per unit of downside risk | +0.89 | ||
| Omega ratioGain probability vs. loss probability | 1.56 | 1.37 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | 4.80 | 2.78 | +2.02 |
| Martin ratioReturn relative to average drawdown | 18.29 | 12.44 | +5.86 |
Dividends
Dividend History
USAA Emerging Markets Fund provided a 6.47% 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 | 6.47% | 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 | $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 0.06%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Financial crisis2007–2009 | -64.84%Nov 2008 | 1y 20d | 9y 2mo | 10y 2moNov 2007 - Jan 2018 |
1998 bear market1998 | -55.54%Sep 1998 | 1y 1mo | 6y 2mo | 7y 3moAug 1997 - Nov 2004 |
COVID crash2020 | -40.29%Mar 2020 | 2y 1mo | 8mo 6d | 2y 10moJan 2018 - Nov 2020 |
Bear market2022 | -36.28%Oct 2022 | 1y 8mo | 2y 8mo | 4y 4moFeb 2021 - Jun 2025 |
2006 bear market2006 | -22.60%Jun 2006 | 1mo 5d | 5mo 20d | 6mo 25dMay 2006 - Nov 2006 |
Drawdown Indicators
| USEMX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.84% | -56.78% | -8.06% |
Max Drawdown (1Y)Largest decline over 1 year | -12.93% | -9.10% | -3.83% |
Max Drawdown (3Y)Largest decline over 3 years | -16.26% | -18.90% | +2.64% |
Max Drawdown (5Y)Largest decline over 5 years | -35.15% | -25.43% | -9.72% |
Max Drawdown (10Y)Largest decline over 10 years | -40.29% | -33.92% | -6.37% |
Current DrawdownCurrent decline from peak | -0.06% | -1.80% | +1.74% |
Average DrawdownAverage peak-to-trough decline | -19.27% | -10.71% | -8.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.39% | 2.03% | +1.36% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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