RSEGX vs. USNQX

Last updated Jun 3, 2026

RSEGX (Victory RS Small Cap Growth Fund) and USNQX (USAA Nasdaq 100 Index Fund) are both mutual funds - RSEGX is a Small Cap Growth Equities fund managed by Victory, while USNQX is a Large Cap Growth Equities fund managed by Victory. Over the past 10 years, RSEGX returned 8.62%/yr vs 21.62%/yr for USNQX. Their correlation of 0.82 suggests significant overlap in exposure. RSEGX charges 1.40%/yr vs 0.42%/yr for USNQX.

Performance

RSEGX vs. USNQX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Victory RS Small Cap Growth Fund (RSEGX) 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, RSEGX achieves a 18.26% return, which is significantly lower than USNQX's 20.96% return. Over the past 10 years, RSEGX has underperformed USNQX with an annualized return of 8.62%, while USNQX has yielded a comparatively higher 21.62% annualized return.

RSEGX

• 1D: -0.33%
• 1M: 6.78%
• YTD: 18.26%
• 6M: 17.92%
• 1Y: 35.61%
• 3Y*: 13.71%
• 5Y*: -1.57%
• 10Y*: 8.62%

USNQX

• 1D: 0.59%
• 1M: 10.18%
• YTD: 20.96%
• 6M: 19.48%
• 1Y: 42.34%
• 3Y*: 28.46%
• 5Y*: 17.80%
• 10Y*: 21.62%

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

RSEGX vs. USNQX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RSEGX Victory RS Small Cap Growth Fund	18.26%	0.88%	11.08%	19.80%	-37.08%	-11.57%	37.83%	37.94%	-9.31%	36.88%
USNQX USAA Nasdaq 100 Index Fund	20.96%	20.52%	25.42%	54.46%	-32.71%	26.82%	48.31%	38.86%	-0.43%	32.30%

Correlation

The correlation between RSEGX and USNQX is 0.75, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.75
Correlation (3Y) Calculated over the trailing 3-year period	0.73
Correlation (5Y) Calculated over the trailing 5-year period	0.78
Correlation (10Y) Calculated over the trailing 10-year period	0.77
Correlation (All Time) Calculated using the full available price history since Oct 30, 2000	0.82

The correlation between RSEGX and USNQX has been stable across timeframes, ranging from 0.73 to 0.82 - a consistent structural relationship.

Return for Risk

RSEGX vs. USNQX — Risk / Return Rank

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

RSEGX

RSEGX Risk / Return Rank: 36
RSEGX Sharpe Ratio Rank: 35
RSEGX Sortino Ratio Rank: 33
RSEGX Omega Ratio Rank: 29
RSEGX Calmar Ratio Rank: 40
RSEGX Martin Ratio Rank: 42

USNQX

USNQX Risk / Return Rank: 75
USNQX Sharpe Ratio Rank: 84
USNQX Sortino Ratio Rank: 72
USNQX Omega Ratio Rank: 68
USNQX Calmar Ratio Rank: 78
USNQX Martin Ratio Rank: 72

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.

RSEGX vs. USNQX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Victory RS Small Cap Growth Fund (RSEGX) 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.

	RSEGX	USNQX	Difference
Sharpe ratio Return per unit of total volatility	1.73	2.71	-0.97
Sortino ratio Return per unit of downside risk	2.41	3.52	-1.10
Omega ratio Gain probability vs. loss probability	1.29	1.46	-0.17
Calmar ratio Return relative to maximum drawdown	2.41	3.58	-1.17
Martin ratio Return relative to average drawdown	9.09	13.71	-4.62
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RSEGX vs. USNQX - Sharpe Ratio Comparison

The current RSEGX Sharpe Ratio is 1.73, which is lower than the USNQX Sharpe Ratio of 2.71. The chart below compares the historical Sharpe Ratios of RSEGX 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.

Sharpe Ratios by Period

	RSEGX	USNQX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.73	2.71	-0.97
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.06	0.78	-0.84
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.33	0.96	-0.63
Sharpe Ratio (All Time) Calculated using the full available price history	0.38	0.37	+0.01

Drawdowns

RSEGX vs. USNQX - Drawdown Comparison

The maximum RSEGX drawdown since its inception was -82.12%, which is greater than USNQX's maximum drawdown of -76.24%. Use the drawdown chart below to compare losses from any high point for RSEGX and USNQX.

Drawdown Indicators

	RSEGX	USNQX	Difference
Max Drawdown Largest peak-to-trough decline	-82.12%	-76.24%	-5.88%
Max Drawdown (1Y) Largest decline over 1 year	-15.15%	-12.07%	-3.08%
Max Drawdown (3Y) Largest decline over 3 years	-33.72%	-22.88%	-10.84%
Max Drawdown (5Y) Largest decline over 5 years	-48.82%	-36.95%	-11.87%
Max Drawdown (10Y) Largest decline over 10 years	-52.89%	-36.95%	-15.94%
Current Drawdown Current decline from peak	-20.84%	0.00%	-20.84%
Average Drawdown Average peak-to-trough decline	-32.86%	-26.76%	-6.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.02%	3.15%	+0.87%

Volatility

RSEGX vs. USNQX - Volatility Comparison

Victory RS Small Cap Growth Fund (RSEGX) has a higher volatility of 6.25% compared to USAA Nasdaq 100 Index Fund (USNQX) at 4.54%. This indicates that RSEGX's price experiences larger fluctuations and is considered to be riskier than USNQX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RSEGX	USNQX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.25%	4.54%	+1.71%
Volatility (6M) Calculated over the trailing 6-month period	16.29%	12.21%	+4.08%
Volatility (1Y) Calculated over the trailing 1-year period	21.10%	16.12%	+4.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.46%	22.90%	+4.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.09%	22.66%	+3.43%

RSEGX vs. USNQX - Expense Ratio Comparison

RSEGX has a 1.40% expense ratio, which is higher than USNQX's 0.42% expense ratio.

Dividends

RSEGX vs. USNQX - Dividend Comparison

RSEGX has not paid dividends to shareholders, while USNQX's dividend yield for the trailing twelve months is around 2.49%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RSEGX Victory RS Small Cap Growth Fund	0.00%	0.00%	0.00%	0.00%	6.25%	16.78%	9.05%	9.01%	20.43%	9.55%	0.00%	1.33%
USNQX USAA Nasdaq 100 Index Fund	2.49%	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 RSEGX and USNQX in my portfolio?

RSEGX and USNQX have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RSEGX or USNQX?

RSEGX has higher volatility (6.25%) compared to USNQX (4.54%). In terms of maximum drawdown, RSEGX dropped -82.12% vs USNQX's -76.24%.

Which has better risk-adjusted returns?

USNQX currently has the higher Sharpe Ratio (2.71 vs 1.73), 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.