RSNRX vs. MAFRX

Last updated Aug 4, 2026

RSNRX (Victory Global Energy Transition Fund) and MAFRX (Victory Pioneer Multi-Asset Ultrashort Income Fund Class A) are both mutual funds - RSNRX is a Energy Equities fund managed by Victory, while MAFRX is a Ultrashort Bond fund actively managed by Victory. Over the past 10 years, RSNRX returned 12.50%/yr vs 2.61%/yr for MAFRX. Their 0.06 correlation means their historical movements had little consistent relationship. RSNRX charges 1.48%/yr vs 0.58%/yr for MAFRX.

Performance

RSNRX vs. MAFRX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Victory Global Energy Transition Fund (RSNRX) and Victory Pioneer Multi-Asset Ultrashort Income Fund Class A (MAFRX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RSNRX achieves a 28.25% return, which is significantly higher than MAFRX's 1.69% return. Over the past 10 years, RSNRX has outperformed MAFRX with an annualized return of 12.50%, while MAFRX has yielded a comparatively lower 2.61% annualized return.

RSNRX

• 1D: 0.25%
• 1M: -1.52%
• 6M: 13.43%
• YTD: 28.25%
• 1Y: 73.87%
• 3Y*: 26.82%
• 5Y*: 29.40%
• 10Y*: 12.50%
• ALL TIME*: 8.27%

MAFRX

• 1D: 0.00%
• 1M: -0.21%
• 6M: 1.30%
• YTD: 1.69%
• 1Y: 3.39%
• 3Y*: 4.70%
• 5Y*: 3.66%
• 10Y*: 2.61%
• ALL TIME*: 2.08%

*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)
MAFRX Victory Pioneer Multi-Asset Ultrashort Income Fund Class A	$0.00	$0.00	$0.00
RSNRX Victory Global Energy Transition Fund	$0.00	$0.00	$0.00

RSNRX vs. MAFRX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RSNRX Victory Global Energy Transition Fund	28.25%	69.60%	15.94%	-8.64%	35.02%	83.01%	27.35%	-24.49%	-45.81%	1.02%
MAFRX Victory Pioneer Multi-Asset Ultrashort Income Fund Class A	1.69%	4.64%	5.96%	5.84%	0.14%	1.42%	-0.86%	3.30%	1.66%	1.57%

Correlation

The correlation between RSNRX and MAFRX is 0.03, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.03
Correlation (3Y) Balances recent behavior with more history.	0.02
Correlation (5Y) Shows whether the relationship held over a longer period.	0.08
Correlation (10Y) Provides a long-term view across more market conditions.	0.06
Correlation (All Time) Calculated using the full available price history since Apr 29, 2011	0.06

Return for Risk

RSNRX vs. MAFRX — Risk / Return Rank

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

RSNRX

RSNRX Risk / Return Rank: 96
RSNRX Sharpe Ratio Rank: 98
RSNRX Sortino Ratio Rank: 94
RSNRX Omega Ratio Rank: 92
RSNRX Calmar Ratio Rank: 98
RSNRX Martin Ratio Rank: 96

MAFRX

MAFRX Risk / Return Rank: 98
MAFRX Sharpe Ratio Rank: 95
MAFRX Sortino Ratio Rank: 99
MAFRX Omega Ratio Rank: 99
MAFRX Calmar Ratio Rank: 100
MAFRX Martin Ratio Rank: 99

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.

RSNRX vs. MAFRX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Victory Global Energy Transition Fund (RSNRX) and Victory Pioneer Multi-Asset Ultrashort Income Fund Class A (MAFRX). 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.

	RSNRX	MAFRX	Difference
Sharpe ratio: Return per unit of total volatility	3.17	2.61	+0.56
Sortino ratio: Return per unit of downside risk	3.80	8.61	-4.81
Omega ratio: Gain probability vs. loss probability	1.52	3.30	-1.78
Calmar ratio: Return relative to maximum drawdown	6.30	16.33	-10.03
Martin ratio: Return relative to average drawdown	17.27	44.00	-26.73

RSNRX vs. MAFRX - Sharpe Ratio Comparison

The current RSNRX Sharpe Ratio is 3.17, which is comparable to the MAFRX Sharpe Ratio of 2.61. The chart below compares the historical Sharpe Ratios of RSNRX and MAFRX, 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

RSNRX vs. MAFRX - Drawdown Comparison

The maximum RSNRX drawdown since its inception was -89.73%, which is greater than MAFRX's maximum drawdown of -10.18%. Use the drawdown chart below to compare losses from any high point for RSNRX and MAFRX.

Drawdown Indicators

	RSNRX	MAFRX	Difference
Max Drawdown Largest peak-to-trough decline	-89.73%	-10.18%	-79.55%
Max Drawdown (1Y) Largest decline over 1 year	-11.65%	-0.21%	-11.44%
Max Drawdown (3Y) Largest decline over 3 years	-25.09%	-0.52%	-24.57%
Max Drawdown (5Y) Largest decline over 5 years	-25.44%	-1.59%	-23.85%
Max Drawdown (10Y) Largest decline over 10 years	-84.27%	-10.18%	-74.09%
Current Drawdown Current decline from peak	-7.57%	-0.21%	-7.36%
Average Drawdown Average peak-to-trough decline	-25.82%	-0.29%	-25.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.24%	0.08%	+4.16%

Volatility

RSNRX vs. MAFRX - Volatility Comparison

Victory Global Energy Transition Fund (RSNRX) has a higher volatility of 4.41% compared to Victory Pioneer Multi-Asset Ultrashort Income Fund Class A (MAFRX) at 0.14%. This indicates that RSNRX's price experiences larger fluctuations and is considered to be riskier than MAFRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RSNRX	MAFRX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.41%	0.14%	+4.27%
Volatility (6M) Calculated over the trailing 6-month period	16.96%	0.91%	+16.05%
Volatility (1Y) Calculated over the trailing 1-year period	23.17%	1.36%	+21.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.56%	1.46%	+23.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.32%	1.76%	+29.56%

RSNRX vs. MAFRX - Expense Ratio Comparison

RSNRX has a 1.48% expense ratio, which is higher than MAFRX's 0.58% expense ratio.

Dividends

RSNRX vs. MAFRX - Dividend Comparison

RSNRX's dividend yield for the trailing twelve months is around 3.41%, less than MAFRX's 4.07% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MAFRX Victory Pioneer Multi-Asset Ultrashort Income Fund Class A	4.07%	4.84%	5.47%	4.18%	2.24%	1.20%	1.78%	2.84%	2.47%	1.76%	1.64%	1.22%
RSNRX Victory Global Energy Transition Fund	3.41%	4.38%	1.65%	2.36%	0.78%	0.00%	0.05%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both RSNRX and MAFRX in my portfolio?

RSNRX and MAFRX have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RSNRX or MAFRX?

RSNRX has higher volatility (4.41%) compared to MAFRX (0.14%). In terms of maximum drawdown, RSNRX dropped -89.73% vs MAFRX's -10.18%.

Which has better risk-adjusted returns?

RSNRX currently has the higher Sharpe Ratio (3.17 vs 2.61), 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.