RSVAX vs. USSPX

Last updated Jul 21, 2026

RSVAX (Victory RS Value Fund) and USSPX (Victory 500 Index Fund Member Shares) are both mutual funds - RSVAX is a Mid Cap Value Equities fund managed by Victory, while USSPX is a Large Cap Blend Equities fund tracking the Victory US Large Cap 500 Index. Over the past 10 years, RSVAX returned 9.15%/yr vs 14.97%/yr for USSPX. A 0.72 correlation means they provide meaningful diversification when combined. RSVAX charges 1.30%/yr vs 0.23%/yr for USSPX.

Performance

RSVAX vs. USSPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Victory RS Value Fund (RSVAX) and Victory 500 Index Fund Member Shares (USSPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RSVAX achieves a 8.97% return, which is significantly lower than USSPX's 9.65% return. Over the past 10 years, RSVAX has underperformed USSPX with an annualized return of 9.15%, while USSPX has yielded a comparatively higher 14.97% annualized return.

RSVAX

• 1D: -0.61%
• 1M: 2.71%
• 6M: 4.06%
• YTD: 8.97%
• 1Y: 11.89%
• 3Y*: 9.43%
• 5Y*: 8.18%
• 10Y*: 9.15%
• ALL TIME*: 7.47%

USSPX

• 1D: -1.00%
• 1M: -0.67%
• 6M: 8.10%
• YTD: 9.65%
• 1Y: 19.47%
• 3Y*: 19.46%
• 5Y*: 12.71%
• 10Y*: 14.97%
• ALL TIME*: 10.20%

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

RSVAX vs. USSPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RSVAX Victory RS Value Fund	8.97%	4.58%	12.58%	7.63%	-2.98%	27.30%	-2.60%	31.36%	-10.84%	17.37%
USSPX Victory 500 Index Fund Member Shares	9.65%	17.63%	25.04%	26.99%	-19.37%	27.45%	21.21%	31.19%	-4.66%	21.19%

Correlation

The correlation between RSVAX and USSPX is 0.53, 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	0.53
Correlation (3Y) Calculated over the trailing 3-year period	0.66
Correlation (5Y) Calculated over the trailing 5-year period	0.75
Correlation (10Y) Calculated over the trailing 10-year period	0.77
Correlation (All Time) Calculated using the full available price history since Apr 30, 1996	0.72

The correlation between RSVAX and USSPX shifts across timeframes, from 0.53 (1 year) to 0.77 (10 years), reflecting how their relationship changes across market environments.

Return for Risk

RSVAX vs. USSPX — Risk / Return Rank

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

RSVAX

RSVAX Risk / Return Rank: 24
RSVAX Sharpe Ratio Rank: 22
RSVAX Sortino Ratio Rank: 23
RSVAX Omega Ratio Rank: 20
RSVAX Calmar Ratio Rank: 27
RSVAX Martin Ratio Rank: 29

USSPX

USSPX Risk / Return Rank: 49
USSPX Sharpe Ratio Rank: 46
USSPX Sortino Ratio Rank: 43
USSPX Omega Ratio Rank: 44
USSPX Calmar Ratio Rank: 49
USSPX Martin Ratio Rank: 61

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.

RSVAX vs. USSPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Victory RS Value Fund (RSVAX) and Victory 500 Index Fund Member Shares (USSPX). 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.

	RSVAX	USSPX	Difference
Sharpe ratio: Return per unit of total volatility	1.01	1.54	-0.53
Sortino ratio: Return per unit of downside risk	1.54	2.14	-0.60
Omega ratio: Gain probability vs. loss probability	1.18	1.28	-0.10
Calmar ratio: Return relative to maximum drawdown	1.52	2.19	-0.67
Martin ratio: Return relative to average drawdown	5.16	9.51	-4.35

RSVAX vs. USSPX - Sharpe Ratio Comparison

The current RSVAX Sharpe Ratio is 1.01, which is lower than the USSPX Sharpe Ratio of 1.54. The chart below compares the historical Sharpe Ratios of RSVAX and USSPX, 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

RSVAX vs. USSPX - Drawdown Comparison

The maximum RSVAX drawdown since its inception was -59.23%, which is greater than USSPX's maximum drawdown of -55.39%. Use the drawdown chart below to compare losses from any high point for RSVAX and USSPX.

Drawdown Indicators

	RSVAX	USSPX	Difference
Max Drawdown Largest peak-to-trough decline	-59.23%	-55.39%	-3.84%
Max Drawdown (1Y) Largest decline over 1 year	-7.81%	-8.92%	+1.11%
Max Drawdown (3Y) Largest decline over 3 years	-17.98%	-19.64%	+1.66%
Max Drawdown (5Y) Largest decline over 5 years	-23.58%	-26.88%	+3.30%
Max Drawdown (10Y) Largest decline over 10 years	-43.49%	-33.64%	-9.85%
Current Drawdown Current decline from peak	-0.61%	-2.03%	+1.42%
Average Drawdown Average peak-to-trough decline	-13.77%	-10.10%	-3.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.30%	2.05%	+0.25%

Volatility

RSVAX vs. USSPX - Volatility Comparison

The current volatility for Victory RS Value Fund (RSVAX) is 2.94%, while Victory 500 Index Fund Member Shares (USSPX) has a volatility of 3.44%. This indicates that RSVAX experiences smaller price fluctuations and is considered to be less risky than USSPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RSVAX	USSPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.94%	3.44%	-0.50%
Volatility (6M) Calculated over the trailing 6-month period	8.41%	10.15%	-1.74%
Volatility (1Y) Calculated over the trailing 1-year period	11.86%	12.72%	-0.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.98%	17.61%	+0.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.15%	18.35%	+0.80%

RSVAX vs. USSPX - Expense Ratio Comparison

RSVAX has a 1.30% expense ratio, which is higher than USSPX's 0.23% expense ratio.

Dividends

RSVAX vs. USSPX - Dividend Comparison

RSVAX's dividend yield for the trailing twelve months is around 8.10%, more than USSPX's 3.78% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RSVAX Victory RS Value Fund	8.10%	8.83%	9.89%	6.48%	6.33%	14.14%	1.93%	7.38%	15.47%	25.04%	12.47%	9.35%
USSPX Victory 500 Index Fund Member Shares	3.78%	4.14%	3.63%	2.07%	2.81%	4.98%	3.38%	4.98%	3.03%	1.34%	2.34%	1.89%

Frequently Asked Questions

Can I hold both RSVAX and USSPX in my portfolio?

RSVAX and USSPX have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RSVAX or USSPX?

USSPX has higher volatility (3.44%) compared to RSVAX (2.94%). In terms of maximum drawdown, RSVAX dropped -59.23% vs USSPX's -55.39%.

Which has better risk-adjusted returns?

USSPX currently has the higher Sharpe Ratio (1.54 vs 1.01), 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.