BGRWX vs. USAAX

Last updated Jun 4, 2026

BGRWX (Barrett Growth Fund) and USAAX (USAA Growth Fund) are both Large Cap Growth Equities funds. Over the past 10 years, BGRWX returned 13.69%/yr vs 15.66%/yr for USAAX. Their correlation of 0.93 suggests significant overlap in exposure. BGRWX charges 1.25%/yr vs 0.84%/yr for USAAX.

Performance

BGRWX vs. USAAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Barrett Growth Fund (BGRWX) and USAA Growth Fund (USAAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BGRWX achieves a -0.14% return, which is significantly lower than USAAX's 4.85% return. Over the past 10 years, BGRWX has underperformed USAAX with an annualized return of 13.69%, while USAAX has yielded a comparatively higher 15.66% annualized return.

BGRWX

• 1D: -0.47%
• 1M: 2.18%
• YTD: -0.14%
• 6M: -0.56%
• 1Y: 10.19%
• 3Y*: 16.68%
• 5Y*: 9.74%
• 10Y*: 13.69%

USAAX

• 1D: -1.11%
• 1M: 4.90%
• YTD: 4.85%
• 6M: 4.89%
• 1Y: 20.40%
• 3Y*: 22.97%
• 5Y*: 12.72%
• 10Y*: 15.66%

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

BGRWX vs. USAAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BGRWX Barrett Growth Fund	-0.14%	8.11%	28.38%	32.94%	-24.83%	21.22%	28.96%	31.99%	-0.46%	21.00%
USAAX USAA Growth Fund	4.85%	16.68%	32.82%	48.39%	-32.49%	16.97%	37.07%	27.62%	-4.33%	28.44%

Correlation

The correlation between BGRWX and USAAX is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.82
Correlation (3Y) Calculated over the trailing 3-year period	0.86
Correlation (5Y) Calculated over the trailing 5-year period	0.90
Correlation (10Y) Calculated over the trailing 10-year period	0.92
Correlation (All Time) Calculated using the full available price history since Dec 30, 1998	0.93

The correlation between BGRWX and USAAX shifts across timeframes, from 0.82 (1 year) to 0.93 (all time), reflecting how their relationship changes across market environments.

Return for Risk

BGRWX vs. USAAX — Risk / Return Rank

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

BGRWX

BGRWX Risk / Return Rank: 10
BGRWX Sharpe Ratio Rank: 12
BGRWX Sortino Ratio Rank: 11
BGRWX Omega Ratio Rank: 11
BGRWX Calmar Ratio Rank: 7
BGRWX Martin Ratio Rank: 8

USAAX

USAAX Risk / Return Rank: 18
USAAX Sharpe Ratio Rank: 22
USAAX Sortino Ratio Rank: 20
USAAX Omega Ratio Rank: 20
USAAX Calmar Ratio Rank: 13
USAAX Martin Ratio Rank: 14

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.

BGRWX vs. USAAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Barrett Growth Fund (BGRWX) and USAA Growth Fund (USAAX). 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.

	BGRWX	USAAX	Difference
Sharpe ratio Return per unit of total volatility	0.90	1.34	-0.45
Sortino ratio Return per unit of downside risk	1.29	1.88	-0.58
Omega ratio Gain probability vs. loss probability	1.16	1.24	-0.08
Calmar ratio Return relative to maximum drawdown	0.72	1.24	-0.52
Martin ratio Return relative to average drawdown	2.42	4.14	-1.72
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BGRWX vs. USAAX - Sharpe Ratio Comparison

The current BGRWX Sharpe Ratio is 0.90, which is lower than the USAAX Sharpe Ratio of 1.34. The chart below compares the historical Sharpe Ratios of BGRWX and USAAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BGRWX	USAAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.90	1.34	-0.45
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.52	0.53	-0.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.73	0.71	+0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.35	0.51	-0.16

Drawdowns

BGRWX vs. USAAX - Drawdown Comparison

The maximum BGRWX drawdown since its inception was -56.87%, smaller than the maximum USAAX drawdown of -66.79%. Use the drawdown chart below to compare losses from any high point for BGRWX and USAAX.

Drawdown Indicators

	BGRWX	USAAX	Difference
Max Drawdown Largest peak-to-trough decline	-56.87%	-66.79%	+9.92%
Max Drawdown (1Y) Largest decline over 1 year	-14.80%	-16.92%	+2.12%
Max Drawdown (3Y) Largest decline over 3 years	-25.54%	-29.85%	+4.31%
Max Drawdown (5Y) Largest decline over 5 years	-29.69%	-41.75%	+12.06%
Max Drawdown (10Y) Largest decline over 10 years	-29.69%	-41.75%	+12.06%
Current Drawdown Current decline from peak	-5.20%	-1.11%	-4.09%
Average Drawdown Average peak-to-trough decline	-17.95%	-18.82%	+0.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.40%	5.08%	-0.68%

Volatility

BGRWX vs. USAAX - Volatility Comparison

The current volatility for Barrett Growth Fund (BGRWX) is 2.44%, while USAA Growth Fund (USAAX) has a volatility of 3.68%. This indicates that BGRWX experiences smaller price fluctuations and is considered to be less risky than USAAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BGRWX	USAAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.44%	3.68%	-1.24%
Volatility (6M) Calculated over the trailing 6-month period	9.26%	11.73%	-2.47%
Volatility (1Y) Calculated over the trailing 1-year period	11.89%	15.69%	-3.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.70%	23.99%	-5.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.81%	22.10%	-3.29%

BGRWX vs. USAAX - Expense Ratio Comparison

BGRWX has a 1.25% expense ratio, which is higher than USAAX's 0.84% expense ratio.

Dividends

BGRWX vs. USAAX - Dividend Comparison

BGRWX's dividend yield for the trailing twelve months is around 11.80%, more than USAAX's 10.13% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BGRWX Barrett Growth Fund	11.80%	11.78%	10.42%	3.01%	22.03%	11.98%	6.78%	2.43%	3.49%	4.79%	0.00%	0.15%
USAAX USAA Growth Fund	10.13%	10.62%	10.47%	6.54%	6.98%	10.34%	4.33%	26.15%	13.67%	2.47%	5.27%	6.92%

Frequently Asked Questions

Can I hold both BGRWX and USAAX in my portfolio?

BGRWX and USAAX have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BGRWX or USAAX?

USAAX has higher volatility (3.68%) compared to BGRWX (2.44%). In terms of maximum drawdown, BGRWX dropped -56.87% vs USAAX's -66.79%.

Which has better risk-adjusted returns?

USAAX currently has the higher Sharpe Ratio (1.34 vs 0.90), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.