UCMCX vs. BWBIX

Last updated Jun 5, 2026

UCMCX (USAA Cornerstone Moderately Conservative Fund) and BWBIX (Baron WealthBuilder Fund) are both Diversified Portfolio funds. Over the past 5 years, UCMCX returned 4.19%/yr vs 4.11%/yr for BWBIX. A 0.78 correlation means they provide meaningful diversification when combined. UCMCX charges 0.90%/yr vs 0.05%/yr for BWBIX.

Performance

UCMCX vs. BWBIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in USAA Cornerstone Moderately Conservative Fund (UCMCX) and Baron WealthBuilder Fund (BWBIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UCMCX achieves a 6.98% return, which is significantly higher than BWBIX's -0.41% return.

UCMCX

• 1D: -0.31%
• 1M: 2.25%
• YTD: 6.98%
• 6M: 7.27%
• 1Y: 16.42%
• 3Y*: 9.97%
• 5Y*: 4.19%
• 10Y*: 5.40%

BWBIX

• 1D: -1.14%
• 1M: 2.47%
• YTD: -0.41%
• 6M: 4.74%
• 1Y: 9.88%
• 3Y*: 13.50%
• 5Y*: 4.11%
• 10Y*: —

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

UCMCX vs. BWBIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
UCMCX USAA Cornerstone Moderately Conservative Fund	6.98%	13.75%	4.15%	9.23%	-13.17%	7.21%	8.25%	13.10%	-4.55%
BWBIX Baron WealthBuilder Fund	-0.41%	10.23%	19.62%	25.77%	-32.58%	14.76%	62.85%	36.41%	-12.02%

Correlation

The correlation between UCMCX and BWBIX 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	0.75
Correlation (5Y) Calculated over the trailing 5-year period	0.76
Correlation (All Time) Calculated using the full available price history since May 22, 2018	0.78

The correlation between UCMCX and BWBIX has been stable across timeframes, ranging from 0.75 to 0.78 - a consistent structural relationship.

Return for Risk

UCMCX vs. BWBIX — Risk / Return Rank

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

UCMCX

UCMCX Risk / Return Rank: 77
UCMCX Sharpe Ratio Rank: 78
UCMCX Sortino Ratio Rank: 78
UCMCX Omega Ratio Rank: 74
UCMCX Calmar Ratio Rank: 76
UCMCX Martin Ratio Rank: 77

BWBIX

BWBIX Risk / Return Rank: 10
BWBIX Sharpe Ratio Rank: 9
BWBIX Sortino Ratio Rank: 10
BWBIX Omega Ratio Rank: 9
BWBIX Calmar Ratio Rank: 10
BWBIX Martin Ratio Rank: 10

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.

UCMCX vs. BWBIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for USAA Cornerstone Moderately Conservative Fund (UCMCX) and Baron WealthBuilder Fund (BWBIX). 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.

	UCMCX	BWBIX	Difference
Sharpe ratio: Return per unit of total volatility	2.54	0.72	+1.81
Sortino ratio: Return per unit of downside risk	3.69	1.18	+2.51
Omega ratio: Gain probability vs. loss probability	1.48	1.14	+0.34
Calmar ratio: Return relative to maximum drawdown	3.30	0.89	+2.41
Martin ratio: Return relative to average drawdown	14.11	2.94	+11.17
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

UCMCX vs. BWBIX - Sharpe Ratio Comparison

The current UCMCX Sharpe Ratio is 2.54, which is higher than the BWBIX Sharpe Ratio of 0.72. The chart below compares the historical Sharpe Ratios of UCMCX and BWBIX, 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

	UCMCX	BWBIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.54	0.72	+1.81
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.49	0.20	+0.29
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.69	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.74	0.52	+0.21

Drawdowns

UCMCX vs. BWBIX - Drawdown Comparison

The maximum UCMCX drawdown since its inception was -21.85%, smaller than the maximum BWBIX drawdown of -39.14%. Use the drawdown chart below to compare losses from any high point for UCMCX and BWBIX.

Drawdown Indicators

	UCMCX	BWBIX	Difference
Max Drawdown Largest peak-to-trough decline	-21.85%	-39.14%	+17.29%
Max Drawdown (1Y) Largest decline over 1 year	-5.16%	-11.65%	+6.49%
Max Drawdown (3Y) Largest decline over 3 years	-7.77%	-21.59%	+13.82%
Max Drawdown (5Y) Largest decline over 5 years	-21.85%	-39.14%	+17.29%
Max Drawdown (10Y) Largest decline over 10 years	-21.85%	—	—
Current Drawdown Current decline from peak	-0.31%	-2.39%	+2.08%
Average Drawdown Average peak-to-trough decline	-3.86%	-11.72%	+7.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.20%	3.53%	-2.33%

Volatility

UCMCX vs. BWBIX - Volatility Comparison

The current volatility for USAA Cornerstone Moderately Conservative Fund (UCMCX) is 2.25%, while Baron WealthBuilder Fund (BWBIX) has a volatility of 3.59%. This indicates that UCMCX experiences smaller price fluctuations and is considered to be less risky than BWBIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UCMCX	BWBIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.25%	3.59%	-1.34%
Volatility (6M) Calculated over the trailing 6-month period	5.47%	11.02%	-5.55%
Volatility (1Y) Calculated over the trailing 1-year period	6.70%	14.41%	-7.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.57%	21.08%	-12.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.87%	23.14%	-15.27%

UCMCX vs. BWBIX - Expense Ratio Comparison

UCMCX has a 0.90% expense ratio, which is higher than BWBIX's 0.05% expense ratio.

Dividends

UCMCX vs. BWBIX - Dividend Comparison

UCMCX's dividend yield for the trailing twelve months is around 3.12%, less than BWBIX's 7.64% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BWBIX Baron WealthBuilder Fund	7.64%	7.61%	0.77%	0.06%	3.21%	3.75%	1.24%	3.51%	0.14%	0.00%	0.00%	0.00%
UCMCX USAA Cornerstone Moderately Conservative Fund	3.12%	3.16%	2.03%	2.42%	7.62%	6.62%	1.68%	2.31%	4.13%	4.37%	2.39%	3.31%

Frequently Asked Questions

Can I hold both UCMCX and BWBIX in my portfolio?

UCMCX and BWBIX 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, UCMCX or BWBIX?

BWBIX has higher volatility (3.59%) compared to UCMCX (2.25%). In terms of maximum drawdown, UCMCX dropped -21.85% vs BWBIX's -39.14%.

Which has better risk-adjusted returns?

UCMCX currently has the higher Sharpe Ratio (2.54 vs 0.72), 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.