LMGAX vs. USMIX

Last updated Aug 1, 2026

LMGAX (Lord Abbett Growth Opportunities Fund) and USMIX (USAA Extended Market Index Fund) are both Mid Cap Growth Equities funds. Over the past 10 years, LMGAX returned 10.82%/yr vs 11.58%/yr for USMIX. Their correlation of 0.89 means they have usually moved in the same direction. LMGAX charges 1.06%/yr vs 0.38%/yr for USMIX.

Performance

LMGAX vs. USMIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Lord Abbett Growth Opportunities Fund (LMGAX) and USAA Extended Market Index Fund (USMIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LMGAX achieves a 7.05% return, which is significantly lower than USMIX's 14.54% return. Over the past 10 years, LMGAX has underperformed USMIX with an annualized return of 10.82%, while USMIX has yielded a comparatively higher 11.58% annualized return.

LMGAX

• 1D: 5.04%
• 1M: -7.61%
• 6M: 6.05%
• YTD: 7.05%
• 1Y: 9.93%
• 3Y*: 15.56%
• 5Y*: 3.13%
• 10Y*: 10.82%
• ALL TIME*: 9.97%

USMIX

• 1D: 0.74%
• 1M: -0.85%
• 6M: 10.00%
• YTD: 14.54%
• 1Y: 27.62%
• 3Y*: 14.44%
• 5Y*: 6.30%
• 10Y*: 11.58%
• ALL TIME*: 8.65%

*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)
LMGAX Lord Abbett Growth Opportunities Fund	$0.00	$0.00	$0.00
USMIX USAA Extended Market Index Fund	$0.00	$0.00	$0.00

LMGAX vs. USMIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
LMGAX Lord Abbett Growth Opportunities Fund	7.05%	13.38%	30.74%	10.80%	-32.59%	6.76%	40.17%	36.75%	-3.35%	22.94%
USMIX USAA Extended Market Index Fund	14.54%	10.44%	11.99%	25.81%	-24.04%	15.29%	31.20%	27.93%	-9.71%	17.72%

Correlation

The correlation between LMGAX and USMIX is 0.73, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.73
Correlation (3Y) Balances recent behavior with more history.	0.73
Correlation (5Y) Shows whether the relationship held over a longer period.	0.80
Correlation (10Y) Provides a long-term view across more market conditions.	0.83
Correlation (All Time) Calculated using the full available price history since Oct 27, 2000	0.89

The correlation between LMGAX and USMIX shifts across timeframes, from 0.73 (3 years) to 0.89 (all time), reflecting how their relationship changes across market environments.

Return for Risk

LMGAX vs. USMIX — Risk / Return Rank

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

LMGAX

LMGAX Risk / Return Rank: 9
LMGAX Sharpe Ratio Rank: 8
LMGAX Sortino Ratio Rank: 9
LMGAX Omega Ratio Rank: 9
LMGAX Calmar Ratio Rank: 10
LMGAX Martin Ratio Rank: 10

USMIX

USMIX Risk / Return Rank: 66
USMIX Sharpe Ratio Rank: 61
USMIX Sortino Ratio Rank: 63
USMIX Omega Ratio Rank: 55
USMIX Calmar Ratio Rank: 76
USMIX Martin Ratio Rank: 74

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.

LMGAX vs. USMIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Lord Abbett Growth Opportunities Fund (LMGAX) and USAA Extended Market Index Fund (USMIX). 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.

	LMGAX	USMIX	Difference
Sharpe ratio: Return per unit of total volatility	0.31	1.48	-1.17
Sortino ratio: Return per unit of downside risk	0.61	2.19	-1.58
Omega ratio: Gain probability vs. loss probability	1.07	1.26	-0.18
Calmar ratio: Return relative to maximum drawdown	0.51	2.47	-1.96
Martin ratio: Return relative to average drawdown	1.34	9.02	-7.68

LMGAX vs. USMIX - Sharpe Ratio Comparison

The current LMGAX Sharpe Ratio is 0.31, which is lower than the USMIX Sharpe Ratio of 1.48. The chart below compares the historical Sharpe Ratios of LMGAX and USMIX, 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

LMGAX vs. USMIX - Drawdown Comparison

The maximum LMGAX drawdown since its inception was -49.96%, smaller than the maximum USMIX drawdown of -57.91%. Use the drawdown chart below to compare losses from any high point for LMGAX and USMIX.

Drawdown Indicators

	LMGAX	USMIX	Difference
Max Drawdown Largest peak-to-trough decline	-49.96%	-57.91%	+7.95%
Max Drawdown (1Y) Largest decline over 1 year	-16.24%	-9.97%	-6.27%
Max Drawdown (3Y) Largest decline over 3 years	-31.19%	-31.84%	+0.65%
Max Drawdown (5Y) Largest decline over 5 years	-42.72%	-37.86%	-4.86%
Max Drawdown (10Y) Largest decline over 10 years	-42.72%	-41.86%	-0.86%
Current Drawdown Current decline from peak	-12.02%	-1.33%	-10.69%
Average Drawdown Average peak-to-trough decline	-12.75%	-11.93%	-0.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.16%	2.73%	+3.43%

Volatility

LMGAX vs. USMIX - Volatility Comparison

Lord Abbett Growth Opportunities Fund (LMGAX) has a higher volatility of 10.22% compared to USAA Extended Market Index Fund (USMIX) at 3.25%. This indicates that LMGAX's price experiences larger fluctuations and is considered to be riskier than USMIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LMGAX	USMIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.22%	3.25%	+6.97%
Volatility (6M) Calculated over the trailing 6-month period	22.29%	11.77%	+10.52%
Volatility (1Y) Calculated over the trailing 1-year period	26.79%	16.60%	+10.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.63%	24.94%	+1.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.05%	23.62%	+0.43%

LMGAX vs. USMIX - Expense Ratio Comparison

LMGAX has a 1.06% expense ratio, which is higher than USMIX's 0.38% expense ratio.

Dividends

LMGAX vs. USMIX - Dividend Comparison

LMGAX's dividend yield for the trailing twelve months is around 7.09%, more than USMIX's 5.65% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LMGAX Lord Abbett Growth Opportunities Fund	7.09%	7.59%	0.00%	0.00%	0.00%	18.94%	15.52%	5.62%	6.14%	9.04%	3.22%	13.75%
USMIX USAA Extended Market Index Fund	5.65%	6.47%	14.41%	4.41%	8.78%	17.98%	3.32%	3.18%	6.48%	7.48%	7.07%	8.02%

Frequently Asked Questions

Can I hold both LMGAX and USMIX in my portfolio?

LMGAX and USMIX have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LMGAX or USMIX?

LMGAX has higher volatility (10.22%) compared to USMIX (3.25%). In terms of maximum drawdown, LMGAX dropped -49.96% vs USMIX's -57.91%.

Which has better risk-adjusted returns?

USMIX currently has the higher Sharpe Ratio (1.48 vs 0.31), 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.