DSHGX vs. UCEQX

Last updated Jun 26, 2026

DSHGX (DFA Selectively Hedged Global Equity Portfolio) and UCEQX (USAA Cornerstone Equity Fund) are both Global Equities funds. Over the past 10 years, DSHGX returned 13.17%/yr vs 11.82%/yr for UCEQX. With a 0.96 correlation, they move nearly in lockstep. DSHGX charges 0.31%/yr vs 0.09%/yr for UCEQX.

Performance

DSHGX vs. UCEQX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in DFA Selectively Hedged Global Equity Portfolio (DSHGX) and USAA Cornerstone Equity Fund (UCEQX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DSHGX achieves a 12.47% return, which is significantly higher than UCEQX's 11.63% return. Over the past 10 years, DSHGX has outperformed UCEQX with an annualized return of 13.17%, while UCEQX has yielded a comparatively lower 11.82% annualized return.

DSHGX

• 1D: 0.07%
• 1M: -0.71%
• YTD: 12.47%
• 6M: 11.58%
• 1Y: 28.22%
• 3Y*: 20.41%
• 5Y*: 11.66%
• 10Y*: 13.17%

UCEQX

• 1D: -0.17%
• 1M: -0.95%
• YTD: 11.63%
• 6M: 10.77%
• 1Y: 26.10%
• 3Y*: 20.38%
• 5Y*: 10.53%
• 10Y*: 11.82%

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

DSHGX vs. UCEQX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DSHGX DFA Selectively Hedged Global Equity Portfolio	12.47%	21.42%	15.89%	20.19%	-12.91%	21.69%	11.96%	25.05%	-11.70%	20.69%
UCEQX USAA Cornerstone Equity Fund	11.63%	23.71%	14.50%	19.36%	-16.25%	19.68%	10.76%	22.49%	-12.06%	22.59%

Correlation

The correlation between DSHGX and UCEQX is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (10Y) Calculated over the trailing 10-year period	0.96
Correlation (All Time) Calculated using the full available price history since Aug 3, 2012	0.96

The correlation between DSHGX and UCEQX has been stable across timeframes, ranging from 0.95 to 0.97 - a consistent structural relationship.

Return for Risk

DSHGX vs. UCEQX — Risk / Return Rank

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

DSHGX

DSHGX Risk / Return Rank: 82
DSHGX Sharpe Ratio Rank: 84
DSHGX Sortino Ratio Rank: 80
DSHGX Omega Ratio Rank: 80
DSHGX Calmar Ratio Rank: 80
DSHGX Martin Ratio Rank: 85

UCEQX

UCEQX Risk / Return Rank: 70
UCEQX Sharpe Ratio Rank: 68
UCEQX Sortino Ratio Rank: 64
UCEQX Omega Ratio Rank: 64
UCEQX Calmar Ratio Rank: 74
UCEQX Martin Ratio Rank: 81

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.

DSHGX vs. UCEQX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for DFA Selectively Hedged Global Equity Portfolio (DSHGX) and USAA Cornerstone Equity Fund (UCEQX). 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.

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.

	DSHGX	UCEQX	Difference
Sharpe ratio: Return per unit of total volatility	2.35	1.98	+0.37
Sortino ratio: Return per unit of downside risk	3.22	2.72	+0.50
Omega ratio: Gain probability vs. loss probability	1.44	1.36	+0.07
Calmar ratio: Return relative to maximum drawdown	3.18	2.88	+0.30
Martin ratio: Return relative to average drawdown	13.54	12.54	+1.00

DSHGX vs. UCEQX - Sharpe Ratio Comparison

The current DSHGX Sharpe Ratio is 2.35, which is comparable to the UCEQX Sharpe Ratio of 1.98. The chart below compares the historical Sharpe Ratios of DSHGX and UCEQX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

DSHGX vs. UCEQX - Drawdown Comparison

The maximum DSHGX drawdown since its inception was -36.15%, roughly equal to the maximum UCEQX drawdown of -35.33%. Use the drawdown chart below to compare losses from any high point for DSHGX and UCEQX.

Drawdown Indicators

	DSHGX	UCEQX	Difference
Max Drawdown Largest peak-to-trough decline	-36.15%	-35.33%	-0.82%
Max Drawdown (1Y) Largest decline over 1 year	-8.93%	-8.96%	+0.03%
Max Drawdown (3Y) Largest decline over 3 years	-16.26%	-15.64%	-0.62%
Max Drawdown (5Y) Largest decline over 5 years	-21.82%	-25.24%	+3.42%
Max Drawdown (10Y) Largest decline over 10 years	-36.15%	-35.33%	-0.82%
Current Drawdown Current decline from peak	-1.99%	-2.63%	+0.64%
Average Drawdown Average peak-to-trough decline	-4.48%	-4.86%	+0.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.09%	2.05%	+0.04%

Volatility

DSHGX vs. UCEQX - Volatility Comparison

DFA Selectively Hedged Global Equity Portfolio (DSHGX) and USAA Cornerstone Equity Fund (UCEQX) have volatilities of 5.23% and 5.47%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DSHGX	UCEQX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.23%	5.47%	-0.24%
Volatility (6M) Calculated over the trailing 6-month period	10.25%	10.81%	-0.56%
Volatility (1Y) Calculated over the trailing 1-year period	12.16%	13.11%	-0.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.71%	15.40%	-0.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.02%	16.48%	-0.46%

DSHGX vs. UCEQX - Expense Ratio Comparison

DSHGX has a 0.31% expense ratio, which is higher than UCEQX's 0.09% expense ratio.

Dividends

DSHGX vs. UCEQX - Dividend Comparison

DSHGX's dividend yield for the trailing twelve months is around 2.84%, less than UCEQX's 4.55% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DSHGX DFA Selectively Hedged Global Equity Portfolio	2.84%	3.20%	5.56%	6.18%	9.61%	6.56%	2.10%	2.50%	4.62%	1.11%	3.07%	3.04%
UCEQX USAA Cornerstone Equity Fund	4.55%	5.08%	2.56%	5.10%	6.80%	4.61%	8.25%	4.79%	6.73%	1.91%	3.16%	3.63%

Frequently Asked Questions

Can I hold both DSHGX and UCEQX in my portfolio?

With a correlation of 0.95, DSHGX and UCEQX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, DSHGX or UCEQX?

UCEQX has higher volatility (5.47%) compared to DSHGX (5.23%). In terms of maximum drawdown, DSHGX dropped -36.15% vs UCEQX's -35.33%.

Which has better risk-adjusted returns?

DSHGX currently has the higher Sharpe Ratio (2.35 vs 1.98), 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.