UCEQX vs. MEGI

Last updated Jun 24, 2026

UCEQX (USAA Cornerstone Equity Fund) and MEGI (NYLI CBRE Global Infrastructure Megatrends Term Fund) are both Global Equities funds. Over the past 3 years, UCEQX returned 21.16%/yr vs 15.39%/yr for MEGI. A 0.50 correlation means they provide meaningful diversification when combined. UCEQX charges 0.09%/yr vs 0.02%/yr for MEGI.

Performance

UCEQX vs. MEGI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in USAA Cornerstone Equity Fund (UCEQX) and NYLI CBRE Global Infrastructure Megatrends Term Fund (MEGI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UCEQX achieves a 13.82% return, which is significantly lower than MEGI's 14.82% return.

UCEQX

• 1D: 0.04%
• 1M: 2.23%
• YTD: 13.82%
• 6M: 13.16%
• 1Y: 29.80%
• 3Y*: 21.16%
• 5Y*: 11.24%
• 10Y*: 12.04%

MEGI

• 1D: 0.57%
• 1M: -1.40%
• YTD: 14.82%
• 6M: 15.07%
• 1Y: 17.69%
• 3Y*: 15.39%
• 5Y*: —
• 10Y*: —

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

UCEQX vs. MEGI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
UCEQX USAA Cornerstone Equity Fund	13.82%	23.71%	14.50%	19.36%	-16.25%	1.14%
MEGI NYLI CBRE Global Infrastructure Megatrends Term Fund	14.82%	26.19%	5.19%	5.52%	-23.32%	-3.50%

Correlation

The correlation between UCEQX and MEGI is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.38
Correlation (3Y) Calculated over the trailing 3-year period	0.43
Correlation (All Time) Calculated using the full available price history since Oct 27, 2021	0.50

The correlation between UCEQX and MEGI shifts across timeframes, from 0.38 (1 year) to 0.50 (all time), reflecting how their relationship changes across market environments.

Return for Risk

UCEQX vs. MEGI — Risk / Return Rank

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

UCEQX

UCEQX Risk / Return Rank: 78
UCEQX Sharpe Ratio Rank: 78
UCEQX Sortino Ratio Rank: 73
UCEQX Omega Ratio Rank: 73
UCEQX Calmar Ratio Rank: 80
UCEQX Martin Ratio Rank: 86

MEGI

MEGI Risk / Return Rank: 23
MEGI Sharpe Ratio Rank: 23
MEGI Sortino Ratio Rank: 24
MEGI Omega Ratio Rank: 23
MEGI Calmar Ratio Rank: 28
MEGI Martin Ratio Rank: 19

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. MEGI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for USAA Cornerstone Equity Fund (UCEQX) and NYLI CBRE Global Infrastructure Megatrends Term Fund (MEGI). 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.

	UCEQX	MEGI	Difference
Sharpe ratio: Return per unit of total volatility	2.38	1.28	+1.10
Sortino ratio: Return per unit of downside risk	3.24	1.88	+1.36
Omega ratio: Gain probability vs. loss probability	1.44	1.23	+0.20
Calmar ratio: Return relative to maximum drawdown	3.45	1.87	+1.58
Martin ratio: Return relative to average drawdown	15.10	4.60	+10.51

UCEQX vs. MEGI - Sharpe Ratio Comparison

The current UCEQX Sharpe Ratio is 2.38, which is higher than the MEGI Sharpe Ratio of 1.28. The chart below compares the historical Sharpe Ratios of UCEQX and MEGI, 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

UCEQX vs. MEGI - Drawdown Comparison

The maximum UCEQX drawdown since its inception was -35.33%, smaller than the maximum MEGI drawdown of -39.48%. Use the drawdown chart below to compare losses from any high point for UCEQX and MEGI.

Drawdown Indicators

	UCEQX	MEGI	Difference
Max Drawdown Largest peak-to-trough decline	-35.33%	-39.48%	+4.15%
Max Drawdown (1Y) Largest decline over 1 year	-8.96%	-9.52%	+0.56%
Max Drawdown (3Y) Largest decline over 3 years	-15.64%	-22.53%	+6.89%
Max Drawdown (5Y) Largest decline over 5 years	-25.24%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-35.33%	—	—
Current Drawdown Current decline from peak	-0.72%	-1.89%	+1.17%
Average Drawdown Average peak-to-trough decline	-4.86%	-14.50%	+9.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.04%	3.86%	-1.82%

Volatility

UCEQX vs. MEGI - Volatility Comparison

USAA Cornerstone Equity Fund (UCEQX) has a higher volatility of 5.17% compared to NYLI CBRE Global Infrastructure Megatrends Term Fund (MEGI) at 3.39%. This indicates that UCEQX's price experiences larger fluctuations and is considered to be riskier than MEGI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UCEQX	MEGI	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.17%	3.39%	+1.78%
Volatility (6M) Calculated over the trailing 6-month period	10.68%	10.14%	+0.54%
Volatility (1Y) Calculated over the trailing 1-year period	13.02%	14.00%	-0.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.38%	19.78%	-4.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.55%	19.78%	-3.23%

UCEQX vs. MEGI - Expense Ratio Comparison

UCEQX has a 0.09% expense ratio, which is higher than MEGI's 0.02% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

UCEQX vs. MEGI - Dividend Comparison

UCEQX's dividend yield for the trailing twelve months is around 4.46%, less than MEGI's 10.82% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MEGI NYLI CBRE Global Infrastructure Megatrends Term Fund	10.82%	10.90%	12.33%	10.66%	9.52%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	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 MEGI in my portfolio?

UCEQX and MEGI have a correlation of 0.38, 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 MEGI?

UCEQX has higher volatility (5.17%) compared to MEGI (3.39%). In terms of maximum drawdown, UCEQX dropped -35.33% vs MEGI's -39.48%.

Which has better risk-adjusted returns?

UCEQX currently has the higher Sharpe Ratio (2.38 vs 1.28), 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.