PGEKX vs. USBLX

Last updated Aug 4, 2026

PGEKX (Victory Pioneer Global Equity Fund Class R6) and USBLX (USAA Growth and Tax Strategy Fund) are both mutual funds - PGEKX is a Global Equities fund actively managed by Victory, while USBLX is a Diversified Portfolio fund managed by Victory. Over the past 10 years, PGEKX returned 13.94%/yr vs 7.94%/yr for USBLX. Their correlation of 0.85 means they have usually moved in the same direction. PGEKX charges 0.73%/yr vs 0.58%/yr for USBLX.

Performance

PGEKX vs. USBLX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Victory Pioneer Global Equity Fund Class R6 (PGEKX) and USAA Growth and Tax Strategy Fund (USBLX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PGEKX achieves a 15.04% return, which is significantly higher than USBLX's 5.55% return. Over the past 10 years, PGEKX has outperformed USBLX with an annualized return of 13.94%, while USBLX has yielded a comparatively lower 7.94% annualized return.

PGEKX

• 1D: 1.18%
• 1M: 1.10%
• 6M: 9.49%
• YTD: 15.04%
• 1Y: 34.73%
• 3Y*: 23.43%
• 5Y*: 15.59%
• 10Y*: 13.94%
• ALL TIME*: 12.05%

USBLX

• 1D: 0.29%
• 1M: -0.89%
• 6M: 4.20%
• YTD: 5.55%
• 1Y: 13.08%
• 3Y*: 11.21%
• 5Y*: 6.06%
• 10Y*: 7.94%
• ALL TIME*: 7.01%

*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)
PGEKX Victory Pioneer Global Equity Fund Class R6	$0.00	$0.00	$0.00
USBLX USAA Growth and Tax Strategy Fund	$0.00	$0.00	$0.00

PGEKX vs. USBLX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PGEKX Victory Pioneer Global Equity Fund Class R6	15.04%	41.73%	11.88%	17.16%	-9.41%	23.83%	18.36%	23.81%	-15.89%	22.43%
USBLX USAA Growth and Tax Strategy Fund	5.55%	10.30%	13.32%	16.10%	-15.82%	14.80%	10.78%	18.46%	-1.95%	13.48%

Correlation

The correlation between PGEKX and USBLX is 0.83, 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.	0.83
Correlation (3Y) Balances recent behavior with more history.	0.78
Correlation (5Y) Shows whether the relationship held over a longer period.	0.81
Correlation (10Y) Provides a long-term view across more market conditions.	0.84
Correlation (All Time) Calculated using the full available price history since Jan 2, 2015	0.85

The correlation between PGEKX and USBLX has been stable across timeframes, ranging from 0.78 to 0.85 - a consistent structural relationship.

Return for Risk

PGEKX vs. USBLX — Risk / Return Rank

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

PGEKX

PGEKX Risk / Return Rank: 88
PGEKX Sharpe Ratio Rank: 91
PGEKX Sortino Ratio Rank: 86
PGEKX Omega Ratio Rank: 84
PGEKX Calmar Ratio Rank: 88
PGEKX Martin Ratio Rank: 90

USBLX

USBLX Risk / Return Rank: 76
USBLX Sharpe Ratio Rank: 77
USBLX Sortino Ratio Rank: 75
USBLX Omega Ratio Rank: 74
USBLX Calmar Ratio Rank: 69
USBLX Martin Ratio Rank: 84

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.

PGEKX vs. USBLX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Victory Pioneer Global Equity Fund Class R6 (PGEKX) and USAA Growth and Tax Strategy Fund (USBLX). 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.

	PGEKX	USBLX	Difference
Sharpe ratio: Return per unit of total volatility	2.33	1.86	+0.47
Sortino ratio: Return per unit of downside risk	3.12	2.63	+0.50
Omega ratio: Gain probability vs. loss probability	1.41	1.34	+0.07
Calmar ratio: Return relative to maximum drawdown	3.35	2.39	+0.96
Martin ratio: Return relative to average drawdown	12.79	10.99	+1.80

PGEKX vs. USBLX - Sharpe Ratio Comparison

The current PGEKX Sharpe Ratio is 2.33, which is comparable to the USBLX Sharpe Ratio of 1.86. The chart below compares the historical Sharpe Ratios of PGEKX and USBLX, 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

PGEKX vs. USBLX - Drawdown Comparison

The maximum PGEKX drawdown since its inception was -33.42%, roughly equal to the maximum USBLX drawdown of -33.49%. Use the drawdown chart below to compare losses from any high point for PGEKX and USBLX.

Drawdown Indicators

	PGEKX	USBLX	Difference
Max Drawdown Largest peak-to-trough decline	-33.42%	-33.49%	+0.07%
Max Drawdown (1Y) Largest decline over 1 year	-9.97%	-5.24%	-4.73%
Max Drawdown (3Y) Largest decline over 3 years	-14.62%	-11.66%	-2.96%
Max Drawdown (5Y) Largest decline over 5 years	-23.53%	-20.51%	-3.02%
Max Drawdown (10Y) Largest decline over 10 years	-33.42%	-21.93%	-11.49%
Current Drawdown Current decline from peak	-1.08%	-1.29%	+0.21%
Average Drawdown Average peak-to-trough decline	-5.89%	-4.28%	-1.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.60%	1.14%	+1.46%

Volatility

PGEKX vs. USBLX - Volatility Comparison

Victory Pioneer Global Equity Fund Class R6 (PGEKX) has a higher volatility of 4.26% compared to USAA Growth and Tax Strategy Fund (USBLX) at 1.88%. This indicates that PGEKX's price experiences larger fluctuations and is considered to be riskier than USBLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PGEKX	USBLX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.26%	1.88%	+2.38%
Volatility (6M) Calculated over the trailing 6-month period	11.55%	5.38%	+6.17%
Volatility (1Y) Calculated over the trailing 1-year period	14.37%	6.71%	+7.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.68%	8.71%	+6.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.77%	9.11%	+7.66%

PGEKX vs. USBLX - Expense Ratio Comparison

PGEKX has a 0.73% expense ratio, which is higher than USBLX's 0.58% expense ratio.

Dividends

PGEKX vs. USBLX - Dividend Comparison

PGEKX's dividend yield for the trailing twelve months is around 10.26%, more than USBLX's 2.26% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PGEKX Victory Pioneer Global Equity Fund Class R6	10.26%	11.80%	8.09%	1.91%	6.18%	21.47%	1.26%	1.37%	11.04%	1.83%	1.76%	1.10%
USBLX USAA Growth and Tax Strategy Fund	2.26%	1.96%	2.28%	2.11%	1.74%	1.66%	1.88%	1.95%	2.73%	2.16%	2.31%	2.69%

Frequently Asked Questions

Can I hold both PGEKX and USBLX in my portfolio?

PGEKX and USBLX have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PGEKX or USBLX?

PGEKX has higher volatility (4.26%) compared to USBLX (1.88%). In terms of maximum drawdown, PGEKX dropped -33.42% vs USBLX's -33.49%.

Which has better risk-adjusted returns?

PGEKX currently has the higher Sharpe Ratio (2.33 vs 1.86), 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.