PEXMX vs. USMIX
PEXMX (T. Rowe Price Extended Equity Market Index Fund) and USMIX (USAA Extended Market Index Fund) are both Mid Cap Growth Equities funds. Over the past 10 years, PEXMX returned 11.80%/yr vs 11.69%/yr for USMIX. Their 0.98 correlation means they have historically moved very closely together. PEXMX charges 0.23%/yr vs 0.38%/yr for USMIX.
Performance
PEXMX vs. USMIX - Performance Comparison
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Returns By Period
In the year-to-date period, PEXMX achieves a 13.46% return, which is significantly lower than USMIX's 14.17% return. Both investments have delivered pretty close results over the past 10 years, with PEXMX having a 11.80% annualized return and USMIX not far behind at 11.69%.
PEXMX
- 1D
- -0.43%
- 1M
- -2.83%
- 6M
- 10.10%
- YTD
- 13.46%
- 1Y
- 23.21%
- 3Y*
- 15.82%
- 5Y*
- 6.04%
- 10Y*
- 11.80%
- ALL TIME*
- 9.05%
USMIX
- 1D
- -0.33%
- 1M
- -1.18%
- 6M
- 9.00%
- YTD
- 14.17%
- 1Y
- 27.20%
- 3Y*
- 14.46%
- 5Y*
- 6.23%
- 10Y*
- 11.69%
- ALL TIME*
- 8.64%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
PEXMX vs. USMIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PEXMX T. Rowe Price Extended Equity Market Index Fund | 13.46% | 11.17% | 16.72% | 25.32% | -26.15% | 12.09% | 30.80% | 32.57% | -9.61% | 16.63% |
USMIX USAA Extended Market Index Fund | 14.17% | 10.44% | 11.99% | 25.81% | -24.04% | 15.29% | 31.20% | 27.93% | -9.71% | 17.72% |
Correlation
The correlation between PEXMX and USMIX is 0.93, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.93 |
Correlation (3Y) Balances recent behavior with more history. | 0.94 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.96 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.97 |
Correlation (All Time) Calculated using the full available price history since Oct 27, 2000 | 0.98 |
The correlation between PEXMX and USMIX has been stable across timeframes, ranging from 0.93 to 0.98 - a consistent structural relationship.
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Return for Risk
PEXMX vs. USMIX — Risk / Return Rank
PEXMX
USMIX
PEXMX vs. USMIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Extended Equity Market Index Fund (PEXMX) 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.
| PEXMX | USMIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.35 | ||
| Sortino ratioReturn per unit of downside risk | -0.49 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.27 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 2.07 | 2.54 | -0.48 |
| Martin ratioReturn relative to average drawdown | 7.01 | 9.29 | -2.27 |
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Drawdowns
PEXMX vs. USMIX - Drawdown Comparison
The maximum PEXMX drawdown since its inception was -57.82%, roughly equal to the maximum USMIX drawdown of -57.91%. Use the drawdown chart below to compare losses from any high point for PEXMX and USMIX.
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Drawdown Indicators
| PEXMX | USMIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.82% | -57.91% | +0.09% |
Max Drawdown (1Y)Largest decline over 1 year | -10.30% | -9.97% | -0.33% |
Max Drawdown (3Y)Largest decline over 3 years | -27.01% | -31.84% | +4.83% |
Max Drawdown (5Y)Largest decline over 5 years | -36.27% | -37.86% | +1.59% |
Max Drawdown (10Y)Largest decline over 10 years | -41.27% | -41.86% | +0.59% |
Current DrawdownCurrent decline from peak | -3.96% | -1.66% | -2.30% |
Average DrawdownAverage peak-to-trough decline | -13.55% | -11.92% | -1.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.02% | 2.73% | +0.29% |
Volatility
PEXMX vs. USMIX - Volatility Comparison
T. Rowe Price Extended Equity Market Index Fund (PEXMX) has a higher volatility of 3.84% compared to USAA Extended Market Index Fund (USMIX) at 3.25%. This indicates that PEXMX'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.
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Volatility by Period
| PEXMX | USMIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.84% | 3.25% | +0.59% |
Volatility (6M)Calculated over the trailing 6-month period | 13.37% | 11.77% | +1.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.11% | 16.60% | +1.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.52% | 24.93% | -2.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.23% | 23.62% | -1.39% |
PEXMX vs. USMIX - Expense Ratio Comparison
PEXMX has a 0.23% expense ratio, which is lower than USMIX's 0.38% expense ratio.
Dividends
PEXMX vs. USMIX - Dividend Comparison
PEXMX's dividend yield for the trailing twelve months is around 3.55%, less than USMIX's 5.67% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PEXMX T. Rowe Price Extended Equity Market Index Fund | 3.55% | 4.02% | 7.64% | 3.64% | 7.53% | 14.87% | 2.99% | 8.17% | 6.67% | 4.50% | 5.90% | 4.81% |
USMIX USAA Extended Market Index Fund | 5.67% | 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
With a correlation of 0.93, PEXMX and USMIX 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.
PEXMX has higher volatility (3.84%) compared to USMIX (3.25%). In terms of maximum drawdown, PEXMX dropped -57.82% vs USMIX's -57.91%.
USMIX currently has the higher Sharpe Ratio (1.53 vs 1.18), 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.
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