MUXYX vs. INDEX

Last updated Aug 4, 2026

MUXYX (Victory S&P 500 Index Fund) and INDEX (CYBER HORNET S&P 500) are both S&P 500 funds tracking the S&P 500 Index, from Victory and CYBER HORNET respectively. Both are passively managed. Over the past 10 years, MUXYX returned 14.56%/yr vs 12.71%/yr for INDEX. Their correlation of 0.94 means they have usually moved in the same direction. MUXYX charges 0.44%/yr vs 0.25%/yr for INDEX.

Performance

MUXYX vs. INDEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Victory S&P 500 Index Fund (MUXYX) and CYBER HORNET S&P 500 (INDEX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with MUXYX having a 9.84% return and INDEX slightly higher at 9.96%. Over the past 10 years, MUXYX has outperformed INDEX with an annualized return of 14.56%, while INDEX has yielded a comparatively lower 12.71% annualized return.

MUXYX

• 1D: 0.72%
• 1M: 0.10%
• 6M: 7.73%
• YTD: 9.84%
• 1Y: 20.93%
• 3Y*: 18.90%
• 5Y*: 12.32%
• 10Y*: 14.56%
• ALL TIME*: 10.48%

INDEX

• 1D: 0.70%
• 1M: 0.13%
• 6M: 7.88%
• YTD: 9.96%
• 1Y: 21.43%
• 3Y*: 17.53%
• 5Y*: 11.06%
• 10Y*: 12.71%
• ALL TIME*: 11.26%

*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)
INDEX CYBER HORNET S&P 500	$0.00	$0.00	$0.00
MUXYX Victory S&P 500 Index Fund	$0.00	$0.00	$0.00

MUXYX vs. INDEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MUXYX Victory S&P 500 Index Fund	9.84%	17.17%	24.62%	25.70%	-18.49%	28.01%	17.91%	30.85%	-4.84%	21.27%
INDEX CYBER HORNET S&P 500	9.96%	17.77%	24.73%	10.58%	-11.84%	29.10%	12.75%	28.98%	-7.83%	18.70%

Correlation

The correlation between MUXYX and INDEX is 1.00 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	1.00
Correlation (3Y) Balances recent behavior with more history.	0.97
Correlation (5Y) Shows whether the relationship held over a longer period.	0.95
Correlation (10Y) Provides a long-term view across more market conditions.	0.94
Correlation (All Time) Calculated using the full available price history since May 11, 2015	0.94

The correlation between MUXYX and INDEX has been stable across timeframes, ranging from 0.94 to 1.00 - a consistent structural relationship.

Return for Risk

MUXYX vs. INDEX — Risk / Return Rank

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

MUXYX

MUXYX Risk / Return Rank: 54
MUXYX Sharpe Ratio Rank: 52
MUXYX Sortino Ratio Rank: 48
MUXYX Omega Ratio Rank: 48
MUXYX Calmar Ratio Rank: 55
MUXYX Martin Ratio Rank: 68

INDEX

INDEX Risk / Return Rank: 59
INDEX Sharpe Ratio Rank: 56
INDEX Sortino Ratio Rank: 52
INDEX Omega Ratio Rank: 52
INDEX Calmar Ratio Rank: 60
INDEX Martin Ratio Rank: 73

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.

MUXYX vs. INDEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Victory S&P 500 Index Fund (MUXYX) and CYBER HORNET S&P 500 (INDEX). 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.

	MUXYX	INDEX	Difference
Sharpe ratio: Return per unit of total volatility	1.48	1.53	-0.04
Sortino ratio: Return per unit of downside risk	2.06	2.12	-0.06
Omega ratio: Gain probability vs. loss probability	1.27	1.27	-0.01
Calmar ratio: Return relative to maximum drawdown	2.12	2.19	-0.08
Martin ratio: Return relative to average drawdown	9.05	9.45	-0.39

MUXYX vs. INDEX - Sharpe Ratio Comparison

The current MUXYX Sharpe Ratio is 1.48, which is comparable to the INDEX Sharpe Ratio of 1.53. The chart below compares the historical Sharpe Ratios of MUXYX and INDEX, 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

MUXYX vs. INDEX - Drawdown Comparison

The maximum MUXYX drawdown since its inception was -55.74%, which is greater than INDEX's maximum drawdown of -38.82%. Use the drawdown chart below to compare losses from any high point for MUXYX and INDEX.

Drawdown Indicators

	MUXYX	INDEX	Difference
Max Drawdown Largest peak-to-trough decline	-55.74%	-38.82%	-16.92%
Max Drawdown (1Y) Largest decline over 1 year	-9.01%	-8.93%	-0.08%
Max Drawdown (3Y) Largest decline over 3 years	-27.62%	-18.75%	-8.87%
Max Drawdown (5Y) Largest decline over 5 years	-28.47%	-21.52%	-6.95%
Max Drawdown (10Y) Largest decline over 10 years	-33.79%	-38.82%	+5.03%
Current Drawdown Current decline from peak	-1.47%	-1.42%	-0.05%
Average Drawdown Average peak-to-trough decline	-9.53%	-4.59%	-4.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.10%	2.07%	+0.03%

Volatility

MUXYX vs. INDEX - Volatility Comparison

Victory S&P 500 Index Fund (MUXYX) and CYBER HORNET S&P 500 (INDEX) have volatilities of 3.51% and 3.51%, 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

	MUXYX	INDEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.51%	3.51%	0.00%
Volatility (6M) Calculated over the trailing 6-month period	10.11%	10.13%	-0.02%
Volatility (1Y) Calculated over the trailing 1-year period	12.88%	12.84%	+0.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.53%	16.82%	+2.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.33%	18.61%	+0.72%

MUXYX vs. INDEX - Expense Ratio Comparison

MUXYX has a 0.44% expense ratio, which is higher than INDEX's 0.25% expense ratio.

Dividends

MUXYX vs. INDEX - Dividend Comparison

MUXYX's dividend yield for the trailing twelve months is around 7.46%, more than INDEX's 0.95% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
INDEX CYBER HORNET S&P 500	0.95%	1.04%	1.97%	1.56%	3.25%	1.81%	1.53%	1.61%	3.09%	1.15%	0.00%	0.00%
MUXYX Victory S&P 500 Index Fund	7.46%	8.00%	16.75%	5.84%	8.25%	7.94%	7.27%	13.51%	12.31%	17.31%	8.03%	11.65%

Frequently Asked Questions

Can I hold both MUXYX and INDEX in my portfolio?

With a correlation of 1.00, MUXYX and INDEX 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, MUXYX or INDEX?

INDEX has higher volatility (3.51%) compared to MUXYX (3.51%). In terms of maximum drawdown, MUXYX dropped -55.74% vs INDEX's -38.82%.

Which has better risk-adjusted returns?

INDEX currently has the higher Sharpe Ratio (1.52 vs 1.48), 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.