NEARX vs. USLUX

Last updated Jun 24, 2026

NEARX (U.S. Global Investors Near-Term Tax Free Fund) and USLUX (U.S. Global Investors Global Luxury Goods Fund) are both mutual funds - NEARX is a Municipal Bonds fund managed by US Global, while USLUX is a Consumer Discretionary Equities fund managed by US Global. Over the past 10 years, NEARX returned 1.06%/yr vs 10.27%/yr for USLUX. At a correlation of -0.02, they often move in opposite directions. NEARX charges 0.45%/yr vs 1.55%/yr for USLUX.

Performance

NEARX vs. USLUX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in U.S. Global Investors Near-Term Tax Free Fund (NEARX) and U.S. Global Investors Global Luxury Goods Fund (USLUX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NEARX achieves a 1.04% return, which is significantly higher than USLUX's -4.45% return. Over the past 10 years, NEARX has underperformed USLUX with an annualized return of 1.06%, while USLUX has yielded a comparatively higher 10.27% annualized return.

NEARX

• 1D: 0.00%
• 1M: 1.18%
• YTD: 1.04%
• 6M: 1.27%
• 1Y: 3.01%
• 3Y*: 2.98%
• 5Y*: 0.85%
• 10Y*: 1.06%

USLUX

• 1D: -2.25%
• 1M: 2.86%
• YTD: -4.45%
• 6M: -5.83%
• 1Y: 9.29%
• 3Y*: 9.77%
• 5Y*: 5.76%
• 10Y*: 10.27%

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

NEARX vs. USLUX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NEARX U.S. Global Investors Near-Term Tax Free Fund	1.04%	3.47%	2.19%	3.04%	-5.25%	-0.46%	2.94%	2.40%	1.58%	1.48%
USLUX U.S. Global Investors Global Luxury Goods Fund	-4.45%	17.87%	14.26%	23.79%	-23.91%	25.14%	20.76%	13.72%	-8.30%	19.19%

Correlation

The correlation between NEARX and USLUX is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.12
Correlation (3Y) Calculated over the trailing 3-year period	0.05
Correlation (5Y) Calculated over the trailing 5-year period	0.02
Correlation (10Y) Calculated over the trailing 10-year period	-0.02
Correlation (All Time) Calculated using the full available price history since Jun 20, 1996	-0.02

The correlation between NEARX and USLUX shifts across timeframes, from -0.02 (all time) to 0.12 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

NEARX vs. USLUX — Risk / Return Rank

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

NEARX

NEARX Risk / Return Rank: 37
NEARX Sharpe Ratio Rank: 20
NEARX Sortino Ratio Rank: 24
NEARX Omega Ratio Rank: 82
NEARX Calmar Ratio Rank: 34
NEARX Martin Ratio Rank: 24

USLUX

USLUX Risk / Return Rank: 8
USLUX Sharpe Ratio Rank: 7
USLUX Sortino Ratio Rank: 8
USLUX Omega Ratio Rank: 7
USLUX Calmar Ratio Rank: 8
USLUX Martin Ratio Rank: 8

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.

NEARX vs. USLUX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for U.S. Global Investors Near-Term Tax Free Fund (NEARX) and U.S. Global Investors Global Luxury Goods Fund (USLUX). 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.

	NEARX	USLUX	Difference
Sharpe ratio: Return per unit of total volatility	1.19	0.55	+0.63
Sortino ratio: Return per unit of downside risk	1.87	0.93	+0.94
Omega ratio: Gain probability vs. loss probability	1.50	1.11	+0.39
Calmar ratio: Return relative to maximum drawdown	2.08	0.71	+1.37
Martin ratio: Return relative to average drawdown	5.39	1.93	+3.46

NEARX vs. USLUX - Sharpe Ratio Comparison

The current NEARX Sharpe Ratio is 1.19, which is higher than the USLUX Sharpe Ratio of 0.55. The chart below compares the historical Sharpe Ratios of NEARX and USLUX, 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

NEARX vs. USLUX - Drawdown Comparison

The maximum NEARX drawdown since its inception was -80.12%, roughly equal to the maximum USLUX drawdown of -77.61%. Use the drawdown chart below to compare losses from any high point for NEARX and USLUX.

Drawdown Indicators

	NEARX	USLUX	Difference
Max Drawdown Largest peak-to-trough decline	-80.12%	-77.61%	-2.51%
Max Drawdown (1Y) Largest decline over 1 year	-1.45%	-15.68%	+14.23%
Max Drawdown (3Y) Largest decline over 3 years	-1.45%	-20.96%	+19.51%
Max Drawdown (5Y) Largest decline over 5 years	-6.91%	-33.85%	+26.94%
Max Drawdown (10Y) Largest decline over 10 years	-6.91%	-34.51%	+27.60%
Current Drawdown Current decline from peak	-0.29%	-6.88%	+6.59%
Average Drawdown Average peak-to-trough decline	-20.80%	-42.03%	+21.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.56%	5.73%	-5.17%

Volatility

NEARX vs. USLUX - Volatility Comparison

The current volatility for U.S. Global Investors Near-Term Tax Free Fund (NEARX) is 0.68%, while U.S. Global Investors Global Luxury Goods Fund (USLUX) has a volatility of 7.41%. This indicates that NEARX experiences smaller price fluctuations and is considered to be less risky than USLUX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NEARX	USLUX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.68%	7.41%	-6.73%
Volatility (6M) Calculated over the trailing 6-month period	1.79%	15.90%	-14.11%
Volatility (1Y) Calculated over the trailing 1-year period	2.55%	20.02%	-17.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.50%	21.07%	-18.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.55%	19.78%	-17.23%

NEARX vs. USLUX - Expense Ratio Comparison

NEARX has a 0.45% expense ratio, which is lower than USLUX's 1.55% expense ratio.

Dividends

NEARX vs. USLUX - Dividend Comparison

NEARX's dividend yield for the trailing twelve months is around 2.49%, less than USLUX's 8.25% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NEARX U.S. Global Investors Near-Term Tax Free Fund	2.49%	2.45%	2.65%	2.50%	1.10%	0.88%	1.10%	1.46%	2.01%	1.47%	1.36%	1.83%
USLUX U.S. Global Investors Global Luxury Goods Fund	8.25%	7.88%	9.94%	2.71%	6.40%	15.37%	0.12%	2.31%	16.18%	13.87%	8.35%	8.01%

Frequently Asked Questions

Can I hold both NEARX and USLUX in my portfolio?

NEARX and USLUX have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NEARX or USLUX?

USLUX has higher volatility (7.41%) compared to NEARX (0.68%). In terms of maximum drawdown, NEARX dropped -80.12% vs USLUX's -77.61%.

Which has better risk-adjusted returns?

NEARX currently has the higher Sharpe Ratio (1.19 vs 0.55), 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.