UCEQX vs. GGSOX

Last updated Jun 5, 2026

UCEQX (USAA Cornerstone Equity Fund) and GGSOX (Grandeur Peak Global Stalwarts Fund) are both Global Equities funds. Over the past 10 years, UCEQX returned 11.59%/yr vs 7.29%/yr for GGSOX. Their correlation of 0.85 suggests significant overlap in exposure. UCEQX charges 0.09%/yr vs 1.21%/yr for GGSOX.

Performance

UCEQX vs. GGSOX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in USAA Cornerstone Equity Fund (UCEQX) and Grandeur Peak Global Stalwarts Fund (GGSOX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with UCEQX having a 13.72% return and GGSOX slightly lower at 13.43%. Over the past 10 years, UCEQX has outperformed GGSOX with an annualized return of 11.59%, while GGSOX has yielded a comparatively lower 7.29% annualized return.

UCEQX

• 1D: -0.68%
• 1M: 4.24%
• YTD: 13.72%
• 6M: 14.35%
• 1Y: 30.58%
• 3Y*: 21.40%
• 5Y*: 10.98%
• 10Y*: 11.59%

GGSOX

• 1D: -0.49%
• 1M: -2.08%
• YTD: 13.43%
• 6M: 13.36%
• 1Y: 11.70%
• 3Y*: 7.97%
• 5Y*: -3.03%
• 10Y*: 7.29%

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

UCEQX vs. GGSOX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
UCEQX USAA Cornerstone Equity Fund	13.72%	23.71%	14.50%	19.36%	-16.25%	19.68%	10.76%	22.49%	-12.06%	22.59%
GGSOX Grandeur Peak Global Stalwarts Fund	13.43%	2.60%	-4.60%	16.89%	-39.55%	20.91%	40.70%	32.07%	-15.13%	31.39%

Correlation

The correlation between UCEQX and GGSOX is 0.77, 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	0.77
Correlation (3Y) Calculated over the trailing 3-year period	0.83
Correlation (5Y) Calculated over the trailing 5-year period	0.84
Correlation (10Y) Calculated over the trailing 10-year period	0.85
Correlation (All Time) Calculated using the full available price history since Jan 5, 2016	0.85

The correlation between UCEQX and GGSOX has been stable across timeframes, ranging from 0.77 to 0.85 - a consistent structural relationship.

Return for Risk

UCEQX vs. GGSOX — Risk / Return Rank

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

UCEQX

UCEQX Risk / Return Rank: 75
UCEQX Sharpe Ratio Rank: 76
UCEQX Sortino Ratio Rank: 70
UCEQX Omega Ratio Rank: 69
UCEQX Calmar Ratio Rank: 78
UCEQX Martin Ratio Rank: 84

GGSOX

GGSOX Risk / Return Rank: 11
GGSOX Sharpe Ratio Rank: 10
GGSOX Sortino Ratio Rank: 11
GGSOX Omega Ratio Rank: 10
GGSOX Calmar Ratio Rank: 14
GGSOX Martin Ratio Rank: 12

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.

UCEQX vs. GGSOX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for USAA Cornerstone Equity Fund (UCEQX) and Grandeur Peak Global Stalwarts Fund (GGSOX). 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.

	UCEQX	GGSOX	Difference
Sharpe ratio: Return per unit of total volatility	2.52	0.75	+1.77
Sortino ratio: Return per unit of downside risk	3.48	1.23	+2.25
Omega ratio: Gain probability vs. loss probability	1.46	1.15	+0.31
Calmar ratio: Return relative to maximum drawdown	3.45	1.22	+2.23
Martin ratio: Return relative to average drawdown	15.48	3.21	+12.27
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

UCEQX vs. GGSOX - Sharpe Ratio Comparison

The current UCEQX Sharpe Ratio is 2.52, which is higher than the GGSOX Sharpe Ratio of 0.75. The chart below compares the historical Sharpe Ratios of UCEQX and GGSOX, 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

	UCEQX	GGSOX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.52	0.75	+1.77
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.72	-0.14	+0.87
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.70	0.37	+0.34
Sharpe Ratio (All Time) Calculated using the full available price history	0.69	0.39	+0.30

Drawdowns

UCEQX vs. GGSOX - Drawdown Comparison

The maximum UCEQX drawdown since its inception was -35.33%, smaller than the maximum GGSOX drawdown of -48.71%. Use the drawdown chart below to compare losses from any high point for UCEQX and GGSOX.

Drawdown Indicators

	UCEQX	GGSOX	Difference
Max Drawdown Largest peak-to-trough decline	-35.33%	-48.71%	+13.38%
Max Drawdown (1Y) Largest decline over 1 year	-8.96%	-10.28%	+1.32%
Max Drawdown (3Y) Largest decline over 3 years	-15.64%	-20.76%	+5.12%
Max Drawdown (5Y) Largest decline over 5 years	-25.24%	-48.71%	+23.47%
Max Drawdown (10Y) Largest decline over 10 years	-35.33%	-48.71%	+13.38%
Current Drawdown Current decline from peak	-0.68%	-26.13%	+25.45%
Average Drawdown Average peak-to-trough decline	-4.87%	-17.57%	+12.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.99%	3.91%	-1.92%

Volatility

UCEQX vs. GGSOX - Volatility Comparison

The current volatility for USAA Cornerstone Equity Fund (UCEQX) is 3.72%, while Grandeur Peak Global Stalwarts Fund (GGSOX) has a volatility of 5.36%. This indicates that UCEQX experiences smaller price fluctuations and is considered to be less risky than GGSOX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UCEQX	GGSOX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.72%	5.36%	-1.64%
Volatility (6M) Calculated over the trailing 6-month period	9.72%	13.87%	-4.15%
Volatility (1Y) Calculated over the trailing 1-year period	12.27%	16.76%	-4.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.27%	21.04%	-5.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.50%	19.80%	-3.30%

UCEQX vs. GGSOX - Expense Ratio Comparison

UCEQX has a 0.09% expense ratio, which is lower than GGSOX's 1.21% expense ratio.

Dividends

UCEQX vs. GGSOX - Dividend Comparison

UCEQX's dividend yield for the trailing twelve months is around 4.46%, while GGSOX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GGSOX Grandeur Peak Global Stalwarts Fund	0.00%	0.00%	0.00%	0.11%	0.00%	10.61%	3.19%	1.62%	3.30%	1.63%	0.08%	0.00%
UCEQX USAA Cornerstone Equity Fund	4.46%	5.08%	2.56%	5.10%	6.80%	4.61%	8.25%	4.79%	6.73%	1.91%	3.16%	3.63%

Frequently Asked Questions

Can I hold both UCEQX and GGSOX in my portfolio?

UCEQX and GGSOX have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, UCEQX or GGSOX?

GGSOX has higher volatility (5.36%) compared to UCEQX (3.72%). In terms of maximum drawdown, UCEQX dropped -35.33% vs GGSOX's -48.71%.

Which has better risk-adjusted returns?

UCEQX currently has the higher Sharpe Ratio (2.52 vs 0.75), 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.