RLDAX vs. USNQX

Last updated Aug 1, 2026

RLDAX (Victory INCORE Low Duration Bond Fund) and USNQX (USAA Nasdaq 100 Index Fund) are both mutual funds - RLDAX is a Short-Term Bond fund managed by Victory, while USNQX is a Nasdaq-100 fund tracking the Nasdaq-100 Index. Over the past 10 years, RLDAX returned 2.17%/yr vs 19.98%/yr for USNQX. Their -0.01 correlation means they have often moved in opposite directions in the past. RLDAX charges 0.85%/yr vs 0.42%/yr for USNQX.

Performance

RLDAX vs. USNQX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Victory INCORE Low Duration Bond Fund (RLDAX) and USAA Nasdaq 100 Index Fund (USNQX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RLDAX achieves a 0.73% return, which is significantly lower than USNQX's 11.42% return. Over the past 10 years, RLDAX has underperformed USNQX with an annualized return of 2.17%, while USNQX has yielded a comparatively higher 19.98% annualized return.

RLDAX

• 1D: 0.00%
• 1M: -0.30%
• 6M: 0.47%
• YTD: 0.73%
• 1Y: 2.82%
• 3Y*: 4.66%
• 5Y*: 2.30%
• 10Y*: 2.17%
• ALL TIME*: 2.42%

USNQX

• 1D: 3.39%
• 1M: -4.21%
• 6M: 10.11%
• YTD: 11.42%
• 1Y: 23.71%
• 3Y*: 21.71%
• 5Y*: 13.81%
• 10Y*: 19.98%
• ALL TIME*: 9.08%

*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)
RLDAX Victory INCORE Low Duration Bond Fund	$0.00	$0.00	$0.00
USNQX USAA Nasdaq 100 Index Fund	$0.00	$0.00	$0.00

RLDAX vs. USNQX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RLDAX Victory INCORE Low Duration Bond Fund	0.73%	5.65%	5.05%	4.05%	-3.63%	0.70%	3.85%	3.52%	0.74%	1.48%
USNQX USAA Nasdaq 100 Index Fund	11.42%	20.52%	25.42%	54.46%	-32.71%	26.82%	48.31%	38.86%	-0.43%	32.30%

Correlation

The correlation between RLDAX and USNQX is 0.15, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.15
Correlation (3Y) Balances recent behavior with more history.	0.08
Correlation (5Y) Shows whether the relationship held over a longer period.	0.21
Correlation (10Y) Provides a long-term view across more market conditions.	0.15
Correlation (All Time) Calculated using the full available price history since Jan 2, 2004	-0.01

The correlation between RLDAX and USNQX shifts across timeframes, from -0.01 (all time) to 0.21 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

RLDAX vs. USNQX — Risk / Return Rank

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

RLDAX

RLDAX Risk / Return Rank: 85
RLDAX Sharpe Ratio Rank: 77
RLDAX Sortino Ratio Rank: 90
RLDAX Omega Ratio Rank: 88
RLDAX Calmar Ratio Rank: 85
RLDAX Martin Ratio Rank: 86

USNQX

USNQX Risk / Return Rank: 38
USNQX Sharpe Ratio Rank: 36
USNQX Sortino Ratio Rank: 35
USNQX Omega Ratio Rank: 34
USNQX Calmar Ratio Rank: 46
USNQX Martin Ratio Rank: 39

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.

RLDAX vs. USNQX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Victory INCORE Low Duration Bond Fund (RLDAX) and USAA Nasdaq 100 Index Fund (USNQX). 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.

	RLDAX	USNQX	Difference
Sharpe ratio: Return per unit of total volatility	1.85	1.07	+0.78
Sortino ratio: Return per unit of downside risk	3.44	1.54	+1.90
Omega ratio: Gain probability vs. loss probability	1.46	1.19	+0.27
Calmar ratio: Return relative to maximum drawdown	2.96	1.72	+1.24
Martin ratio: Return relative to average drawdown	11.17	5.53	+5.64

RLDAX vs. USNQX - Sharpe Ratio Comparison

The current RLDAX Sharpe Ratio is 1.85, which is higher than the USNQX Sharpe Ratio of 1.07. The chart below compares the historical Sharpe Ratios of RLDAX and USNQX, 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

RLDAX vs. USNQX - Drawdown Comparison

The maximum RLDAX drawdown since its inception was -5.35%, smaller than the maximum USNQX drawdown of -76.24%. Use the drawdown chart below to compare losses from any high point for RLDAX and USNQX.

Drawdown Indicators

	RLDAX	USNQX	Difference
Max Drawdown Largest peak-to-trough decline	-5.35%	-76.24%	+70.89%
Max Drawdown (1Y) Largest decline over 1 year	-1.20%	-12.07%	+10.87%
Max Drawdown (3Y) Largest decline over 3 years	-1.20%	-22.88%	+21.68%
Max Drawdown (5Y) Largest decline over 5 years	-5.35%	-36.95%	+31.60%
Max Drawdown (10Y) Largest decline over 10 years	-5.35%	-36.95%	+31.60%
Current Drawdown Current decline from peak	-0.30%	-8.32%	+8.02%
Average Drawdown Average peak-to-trough decline	-0.48%	-26.61%	+26.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.32%	3.75%	-3.43%

Volatility

RLDAX vs. USNQX - Volatility Comparison

The current volatility for Victory INCORE Low Duration Bond Fund (RLDAX) is 0.37%, while USAA Nasdaq 100 Index Fund (USNQX) has a volatility of 6.91%. This indicates that RLDAX experiences smaller price fluctuations and is considered to be less risky than USNQX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RLDAX	USNQX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.37%	6.91%	-6.54%
Volatility (6M) Calculated over the trailing 6-month period	1.50%	16.01%	-14.51%
Volatility (1Y) Calculated over the trailing 1-year period	1.93%	19.39%	-17.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.20%	23.39%	-21.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.85%	22.86%	-21.01%

RLDAX vs. USNQX - Expense Ratio Comparison

RLDAX has a 0.85% expense ratio, which is higher than USNQX's 0.42% expense ratio.

Dividends

RLDAX vs. USNQX - Dividend Comparison

RLDAX's dividend yield for the trailing twelve months is around 4.24%, more than USNQX's 2.71% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RLDAX Victory INCORE Low Duration Bond Fund	4.24%	4.57%	3.89%	2.30%	1.57%	1.10%	1.67%	2.13%	2.16%	1.77%	0.98%	1.34%
USNQX USAA Nasdaq 100 Index Fund	2.71%	3.01%	2.19%	2.60%	4.13%	4.48%	1.53%	0.88%	0.69%	1.97%	0.50%	2.73%

Frequently Asked Questions

Can I hold both RLDAX and USNQX in my portfolio?

RLDAX and USNQX have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RLDAX or USNQX?

USNQX has higher volatility (6.91%) compared to RLDAX (0.37%). In terms of maximum drawdown, RLDAX dropped -5.35% vs USNQX's -76.24%.

Which has better risk-adjusted returns?

RLDAX currently has the higher Sharpe Ratio (1.85 vs 1.07), 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.