FLARX vs. USAGX

Last updated Aug 1, 2026

FLARX (Victory Pioneer Floating Rate Fund Class A) and USAGX (USAA Precious Metals and Minerals Fund) are both mutual funds - FLARX is a Bank Loan fund actively managed by Victory, while USAGX is a Precious Metals fund managed by Victory. Over the past 10 years, FLARX returned 3.64%/yr vs 9.82%/yr for USAGX. Their 0.05 correlation means their historical movements had little consistent relationship. FLARX charges 1.08%/yr vs 1.12%/yr for USAGX.

Performance

FLARX vs. USAGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Victory Pioneer Floating Rate Fund Class A (FLARX) and USAA Precious Metals and Minerals Fund (USAGX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FLARX achieves a 2.10% return, which is significantly higher than USAGX's -10.35% return. Over the past 10 years, FLARX has underperformed USAGX with an annualized return of 3.64%, while USAGX has yielded a comparatively higher 9.82% annualized return.

FLARX

• 1D: 0.17%
• 1M: 0.17%
• 6M: 2.24%
• YTD: 2.10%
• 1Y: 3.81%
• 3Y*: 5.32%
• 5Y*: 4.01%
• 10Y*: 3.64%
• ALL TIME*: 3.28%

USAGX

• 1D: 3.50%
• 1M: -1.33%
• 6M: -17.87%
• YTD: -10.35%
• 1Y: 47.47%
• 3Y*: 36.25%
• 5Y*: 17.54%
• 10Y*: 9.82%
• ALL TIME*: 5.65%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FLARX Victory Pioneer Floating Rate Fund Class A	$0.00	$0.00	$0.00
USAGX USAA Precious Metals and Minerals Fund	$0.00	$0.00	$0.00

FLARX vs. USAGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FLARX Victory Pioneer Floating Rate Fund Class A	2.10%	4.55%	7.40%	8.89%	-3.77%	4.17%	0.94%	7.23%	-0.32%	3.41%
USAGX USAA Precious Metals and Minerals Fund	-10.35%	156.06%	10.76%	6.73%	-11.80%	-10.14%	25.85%	42.97%	-12.26%	9.65%

Correlation

The correlation between FLARX and USAGX is 0.20, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.20
Correlation (3Y) Balances recent behavior with more history.	0.10
Correlation (5Y) Shows whether the relationship held over a longer period.	0.12
Correlation (10Y) Provides a long-term view across more market conditions.	0.08
Correlation (All Time) Calculated using the full available price history since Feb 14, 2007	0.05

The correlation between FLARX and USAGX shifts across timeframes, from 0.05 (all time) to 0.20 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

FLARX vs. USAGX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FLARX

FLARX Risk / Return Rank: 90
FLARX Sharpe Ratio Rank: 73
FLARX Sortino Ratio Rank: 95
FLARX Omega Ratio Rank: 96
FLARX Calmar Ratio Rank: 94
FLARX Martin Ratio Rank: 90

USAGX

USAGX Risk / Return Rank: 32
USAGX Sharpe Ratio Rank: 36
USAGX Sortino Ratio Rank: 34
USAGX Omega Ratio Rank: 37
USAGX Calmar Ratio Rank: 30
USAGX Martin Ratio Rank: 21

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FLARX vs. USAGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Victory Pioneer Floating Rate Fund Class A (FLARX) and USAA Precious Metals and Minerals Fund (USAGX). 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.

	FLARX	USAGX	Difference
Sharpe ratio: Return per unit of total volatility	1.75	1.09	+0.65
Sortino ratio: Return per unit of downside risk	3.91	1.54	+2.37
Omega ratio: Gain probability vs. loss probability	1.62	1.21	+0.41
Calmar ratio: Return relative to maximum drawdown	4.07	1.30	+2.77
Martin ratio: Return relative to average drawdown	12.54	2.85	+9.69

FLARX vs. USAGX - Sharpe Ratio Comparison

The current FLARX Sharpe Ratio is 1.75, which is higher than the USAGX Sharpe Ratio of 1.09. The chart below compares the historical Sharpe Ratios of FLARX and USAGX, 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

FLARX vs. USAGX - Drawdown Comparison

The maximum FLARX drawdown since its inception was -30.68%, smaller than the maximum USAGX drawdown of -80.89%. Use the drawdown chart below to compare losses from any high point for FLARX and USAGX.

Drawdown Indicators

	FLARX	USAGX	Difference
Max Drawdown Largest peak-to-trough decline	-30.68%	-80.89%	+50.21%
Max Drawdown (1Y) Largest decline over 1 year	-1.04%	-38.32%	+37.28%
Max Drawdown (3Y) Largest decline over 3 years	-2.10%	-38.32%	+36.22%
Max Drawdown (5Y) Largest decline over 5 years	-6.79%	-45.72%	+38.93%
Max Drawdown (10Y) Largest decline over 10 years	-19.52%	-51.03%	+31.51%
Current Drawdown Current decline from peak	0.00%	-32.91%	+32.91%
Average Drawdown Average peak-to-trough decline	-2.04%	-43.03%	+40.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.34%	17.44%	-17.10%

Volatility

FLARX vs. USAGX - Volatility Comparison

The current volatility for Victory Pioneer Floating Rate Fund Class A (FLARX) is 0.30%, while USAA Precious Metals and Minerals Fund (USAGX) has a volatility of 11.59%. This indicates that FLARX experiences smaller price fluctuations and is considered to be less risky than USAGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FLARX	USAGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.30%	11.59%	-11.29%
Volatility (6M) Calculated over the trailing 6-month period	1.73%	37.94%	-36.21%
Volatility (1Y) Calculated over the trailing 1-year period	2.43%	45.63%	-43.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.69%	33.70%	-31.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.63%	32.92%	-29.29%

FLARX vs. USAGX - Expense Ratio Comparison

FLARX has a 1.08% expense ratio, which is lower than USAGX's 1.12% expense ratio.

Dividends

FLARX vs. USAGX - Dividend Comparison

FLARX's dividend yield for the trailing twelve months is around 6.29%, more than USAGX's 0.27% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FLARX Victory Pioneer Floating Rate Fund Class A	6.29%	7.17%	6.29%	6.97%	4.94%	3.15%	3.57%	4.68%	4.36%	3.80%	3.55%	3.46%
USAGX USAA Precious Metals and Minerals Fund	0.27%	0.24%	0.00%	2.45%	0.95%	0.84%	0.04%	0.00%	0.00%	0.00%	4.20%	0.00%

Frequently Asked Questions

Can I hold both FLARX and USAGX in my portfolio?

FLARX and USAGX have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FLARX or USAGX?

USAGX has higher volatility (11.59%) compared to FLARX (0.30%). In terms of maximum drawdown, FLARX dropped -30.68% vs USAGX's -80.89%.

Which has better risk-adjusted returns?

FLARX currently has the higher Sharpe Ratio (1.75 vs 1.09), 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.